Popular Furniture Company manufactures and sells oak tables and chairs. Price and cost data for the furniture
Question:
Popular Furniture Company manufactures and sells oak tables and chairs. Price and cost data for the furniture follow:
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Popular Furniture has three sales representatives: Tom, Dick, and Harry. Tom sold 100 tables with 4 chairs each. Dick sold 70 tables with 8 chairs each. Harry sold 80 tables with 6 chairs each.
Requirements
1. Calculate the total contribution margin and the contribution margin ratio for each sales representative (round to two decimal places).
2. Which sales rep has the highest contribution margin ratio? Explain why.
Contribution MarginContribution margin is an important element of cost volume profit analysis that managers carry out to assess the maximum number of units that are required to be at the breakeven point. Contribution margin is the profit before fixed cost and taxes...
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Requirement 1 Tables Chairs Total Tom Sales Revenue 100 tables 550 55000 100 tables 4 chairs 120 480...View the full answer
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Related Book For 
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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