The controller of Ashton Company prepared the following projected incomestatement:Sales $97,000Total variable cost 32,850Total fixed cost 43,800Operating income $20,440Required:Calculate the contribution margin ratio?

MARGINAL COSTING INCOME STATEMENTMarginal Costing Income Statement is One of the Important Cost…

Answered: The controller of Ashton Company…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Given the following information, find dollar sales: a. Fixed costs, $60,000; profit, $18,000; sales price per unit, $8.00; variable cost per unit, $5.00 b. Variable rate, .45; profit, $21,578.10; fixed costs, $58,382 c. Sales price per unit, $16.60; profit, $21,220; contribution margin, $9.29; fixed costs, $126,000
Manji
Use the data to prepare the cost statement and Income statement by use the Total cost and Variable Cost. Production capacity (6000 ) unit, direct materials (35000 )D. Indirect materials ( 15000 )D., direct wages ( 25 000 )D., Indirect wages (30000 )D. direct expenses ( 25000 )D., Indirect expenses ( 30 000 )D.[ 10000 V., 20000 F.). direct marketing cost (13000 )D. Indirect marketing cost ( 12000 )D.( 10000 V. 2000 F. ). Administration cost (22000 )D., number of F.G.L (1000 )unit . The selling price ( 2500 )D., to unit.
a. Young Company budgets sales of $960,000, fixed costs of $34,600, and variable costs of $153,600. What is the contribution margin ratio for Young Company? b. If the contribution margin ratio for Martinez Company is 61%, sales were $559,000, and fixed costs were $248,920, what was the operating income?
Need help with this question
I ONLY NEED #4, 5, & 6 Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Fixed Cost Estimated Variable Cost (per unit sold) Production costs: Direct materials — $26 Direct labor — 17 Factory overhead $265,400 13 Selling expenses: Sales salaries and commissions 55,200 6 Advertising 18,700 — Travel 4,100 —…
How do you get income from operations? (see attached)
Please help me
If a company had a contribution margin of $21,000 and a contribution margin ratio of 70%, total variable costs must have been …
Li Company has a unit selling price of $150, unit variable costs of $45, and total fixed costs of $47,200. How much sales revenue must Li Company generate to achieve net income of $27,700. Sales revenue needed to achieve target net income $
Nocum Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (3,000 units) Variable expenses Contribution margin Fixed expenses $ 120,000 90,000 30,000 21,000 $ 9,000 Net operating income If sales volumes decline to 2,900 units, the net operating income would be closest to:
Contribution margin ratio a. Coastal Company budgets sales of $1,080,000, fixed costs of $38,900, and variable costs of $172,800. What is the contribution margin ratio for Coastal Company?fill in the blank 1 of 1 % b. If the contribution margin ratio for Bushner Company is 42%, sales were $848,000, and fixed costs were $277,800, what was the operating income?fill in the blank 1 of 1$

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

The controller of Ashton Company prepared the following projected income statement: Sales $97,000 Total variable cost 32,850 Total fixed cost 43,800 Operating income $20,440 Required: Calculate the contribution margin ratio?