Fill the yellow boxes To aid in planning, Jay Corporation is preparing a contribution format income statement.
Fantastic news! We've Found the answer you've been seeking!
Question:
Fill the yellow boxes
Transcribed Image Text:
To aid in planning, Jay Corporation is preparing a contribution format income statement. Budgeted information for Quarter 1 of Year 3: Sales in units Sales price per unit D 1 Administrative salaries 2 Rent expense 3 Depreciation expense 4 After analyzing expenses, the company has determined the following cost patterns. Cost of goods sold $ 29.00 per unit Sales commissions 9.50% per dollar of sales $ 16 17 Year 1 18 Quarter 1 19 Quarter2 Quarter 3 Quarter 41 20 21 $ 555 $ $ 5 Management has concluded that shipping expense is a mixed cost. Units shipped and the related shipping cost over the last eight quarters are: sss is Total Shipping Cost $ 17,000 48.00 $ $ 45,000.00 per quarter 27,000.00 per quarter 36,000.00 per quarter $ 67,000.00 94,000.00 89,800.00 92,600.00 Units 12,500 21,000 13,800 20,000 To aid in planning, Jay Corporation is preparing a contribution format income statement. Budgeted information for Quarter 1 of Year 3: Sales in units Sales price per unit D 1 Administrative salaries 2 Rent expense 3 Depreciation expense 4 After analyzing expenses, the company has determined the following cost patterns. Cost of goods sold $ 29.00 per unit Sales commissions 9.50% per dollar of sales $ 16 17 Year 1 18 Quarter 1 19 Quarter2 Quarter 3 Quarter 41 20 21 $ 555 $ $ 5 Management has concluded that shipping expense is a mixed cost. Units shipped and the related shipping cost over the last eight quarters are: sss is Total Shipping Cost $ 17,000 48.00 $ $ 45,000.00 per quarter 27,000.00 per quarter 36,000.00 per quarter $ 67,000.00 94,000.00 89,800.00 92,600.00 Units 12,500 21,000 13,800 20,000
Expert Answer:
Answer rating: 100% (QA)
1 i High Activity Level Number of Units 22500 Total Shipping Cost 100000 ii Low Activity Level Numbe... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
fill in yellow boxes with EXCEL FORMULA 1 Milleage Distance Table Time From/To 7 8 9 10 11 12 13 14 15 16 17 16 19 20 21 Cincinnati Middletown Florence, KY Lexington, KY Hamilton Beavercreek...
-
Please fill in yellow boxes and label the financial statement below Balance at beginning of year Net earnings Cash dividends Balance at end of year in millions Cash Flows from Operating Activities:...
-
A packaging process is supposed to fill small boxes of raisins with approximately 50 raisins so that each box will weigh the same. However, the number of raisins in each box will vary. Suppose 100...
-
The software inSSIDer from metageek lets you scan surroundingWiFi networks. Download inSSIDer 3.1.2.1 from the following link:http://www.techspot.com/downloads/5936-inssider.html a....
-
A 1.22.4- m sheet of plywood having a mass of 17 kg has been temporarily placed among three pipe supports. The lower edge of the sheet rests on small collars A and B and its upper edge leans against...
-
To qualify for a medical study, an applicant must have a systolic blood pressure in the 50% of the middle range. If the systolic blood pressure is normally distributed with a mean of 120 and a...
-
Mega Stores is a chain of 125 retail outlets selling clothing under the strong Mega brand. Its sales have increased from \($185\) million to \($586\) million over the last five years. The companys...
-
Two stars of masses M and m, separated by a distance d, revolve in circular orbits about their center of mass (Fig. P13.69). Show that each star has a period given by T2 = 4π2d3/G (M + m) Proceed...
-
Nancy's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Nancy's purchases of Xpert snowboards during September is shown below. During the same...
-
List the item ID as ITEM_ID and description as ITEM_DESC for all items. The descriptions should appear in uppercase letters. Task 2: List the customer ID and first and last names for all customers...
-
1) The value of the stock A. Increases as the dividend growth rate decreases B. Increases as the required rate of return decreases C. Increases as the required rate of return increases D. None of...
-
How do ecological interactions, including competition, predation, mutualism, and symbiosis, influence species coexistence, community structure, and ecosystem functioning, and what are the...
-
Question 4 a) TT is a public limited company with a paid-up share capital of 1.2 million RM1 shares and no long-term debt. The dividend has been paid 45 cent per share in each of the past two years...
-
In your conclusion and recommendations, discuss how an Activity -Based Costing system might benefit Marrabel Manufacturing.
-
You can trade Australian dollars (AUD), U.S. dollars (USD), and Korean won (KRW) at the following rates: USD0.7047/AUD KRW6.4390/AUD KRW8.7586/USD Is there an arbitrage opportunity? What would be...
-
It would take 225,000,000 years for our solar system to orbit the Milky Way Galaxy, with the center approximately 160,000,000,000,000 miles away from our sun. Roughly how fast must we be traveling in...
-
Hi, can you please please help me answer this questions? It is sort of similar however the rates and etc. are different. (QUESTIONS) 1. Two commercial banks are offering investment proposals to Rolly...
-
A researcher reports a significant two-way between-subjects ANOVA, F(3, 40) = 2.96. State the decision to retain or reject the null hypothesis for this test.
-
The Diamond Freight Company has been offered a seven-year contract to haul munitions for the government. Since this contract would represent new business, the company would have to purchase several...
-
A number of graphs displaying cost behavior patterns are shown below. The vertical axis on each graph represents total cost, and the horizontal axis represents level of activity (volume). Required:...
-
The questions in this exercise give you an appreciation for the complexity of budgeting in a large multinational corporation. To answer the questions, you will need to download the Procter & Gamble...
-
Explain the criteria that a deferred tax provision needs to satisfy under IAS 12 in order to be accepted as a liability in the balance sheet.
-
A fixed asset (a machine) was purchased by Adjourn plc on 1 July 20X1 at a cost of 25,000. The company prepares its annual accounts to 31 March in each year.The policy of the company is to depreciate...
-
The Mission Company Ltd, whose year-end is 31 December, has acquired two items of machinery on leases, the conditions of which are as follows: Item Y: Ten annual instalments of 20,000 each, the first...
Study smarter with the SolutionInn App