FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Prepare income statement using the absorption approach for both scenarios. #1 windy wind chimes has produced and sold 100,000 units. #2 windy wind chimes has produced 100,000 units but sold 120,000 units.arrow_forwardSubject:- accountingarrow_forwardA company makes pens. They sell each pen for $77.Their revenue is represented by R = 7 x.The cost to make the pens is $33 each with a one time start up cost of $45004500.Their cost is represented by C = 3 x + 4500.a) Find the profit, P, (P = R - C) when the company sells 1000 pens. 7000 -7000 11500 -500 -1500 b) Find the number of pens they need to sell to break even (when R = C). 1125 643 4500 150arrow_forward
- Use the ABC information to compute the operating income of each customer in August 2017. Comment on the results and what, if anything, Flair should do.arrow_forwardBackground Consider the following information for the company Freddie's Furniture Supplies, who manufacture outdoor furniture: Income Statement Freddie's Furniture Supplies Year Ended 31st December 2020 Net Sales Revenue $290,350 less: COGS $132,560 = Gross Profit $157,790 less: Operating (Non Product) Expenses $85,900 equals: Net Profit $71,890 Beginning and Ending Finished Goods, of the year, were $32,000 and $14,600 respectively. Question What was the COGM (Costs of Goods Manufactured) for Freddie's company for the year ended 31st December 2020? Select one: a. Cannot be calculated with the information provided. O b. COGM = $147,160 O c. COGM = $115,160 O d. COGM = $129,760arrow_forwardPlease help me. Fast solution please. Thankyou.arrow_forward
- nkt.3arrow_forwardA company purchased 10,000 pairs of men's slacks for $19.36 per pair and marked them up $22.33. What was the selling price of each pair of slacks? Use the formula S=C + M The selling price of each pairs of slacks is $ Emarrow_forwardigmeniMalh.do?invoker=&takeAssignmentSessionLocator=&inprogress%3Dfalse Show Me How Print Item eBook Contribution Margin and Contribution Margin Ratio For a recent year, McDonald's (MCD) company-owned restaurants had the following sales and expenses (in millions): Sales $15,295.0 Food and packaging $(4,896.9) Payroll (4,134.2) Occupancy (rent, depreciation, etc.) (3,667.7) General, selling, and administrative expenses (2,384.5) $(15,083.3) Operating income $211.7 Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Round to the nearest tenth of a million (one decimal place). million b. What is McDonald's contribution margin ratio? Round to one decimal place. % c. How much would operating income increase if same-store sales increased by $800 million for the coming year, with no change in the contribution margin ratio or fixed costs? Round your answer to the nearest…arrow_forward
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