Question
1) The following totals are used to create a CVP Income Statement for Frederick Company for FY2020: Frederick Company Selected Financial Figures For the Year
1) The following totals are used to create a CVP Income Statement for Frederick Company for FY2020:
Frederick Company
Selected Financial Figures
For the Year Ended 12/31/20
Sales (100 units)
$10,000
Variable Costs:
Direct Labor
$1 750
Direct Materials
1 650
Factory Overhead (variable)
2,000
Selling Expenses (variable)
600
Administrative Expenses (variable)
500
Fixed Costs:
Factory Overhead (fixed)
$600
Selling Expenses (fixed)
1,000
Administrative Expenses (fixed)
1,000
2) Frederick Company utilizes a JIT production system and there are no Raw Materials, Work-in-Process or Finished Goods inventories.Use this information to determineFY 2020 Contribution Margin Percentage.Enter percentage to one decimal place. (example enter 35.5% as 35.5)
3) During FY 2020, Adelphi Company reported sales of $400,000, a contribution margin of $6,00 per unit, fixed costs of $135 000, and net income of $25 000. Use this information to determine the number of units Adelphi sold during FY 2018.(Round answer to nearest whole number)
Adelphi Company has budgeted activity for March to reflect net income $145 000. All sales are credit sales. Receivables are planned to increase (decrease -) by $33 000 payables to increase (decrease -) by $31 000 and Depreciation Expense is $50 000. Use this information to determine how much cash will increase (decrease) during the month of March. (Decreases in accounts receivable or accounts payable will have a negative sign in front of number.Round to nearest whole number (no cents).
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