Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume the following information for a merchandising company: Net operating income Variable selling expenses Cost of goods sold Fixed administrative expenses Fixed selling expenses Variable

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Assume the following information for a merchandising company: Net operating income Variable selling expenses Cost of goods sold Fixed administrative expenses Fixed selling expenses Variable administrative expenses $ 21,000 $ 25,000 $ 250,000 $ 50,000 $ 40,000 $ 5,000 What are the company's sales? Multiple Choice $391,000 $370,000 Assume the following Information for a merchandising company: Contribution margin Variable selling expenses Net operating income Fixed administrative expenses Fixed selling expenses Variable administrative expenses $102,000 $ 25,000 $ 30,000 $ 2 $ 40,000 $ 5,000 What is the amount of fixed administrative expenses? Multiple Choice $32,000 $72.000 Assume the following information for a merchandising company: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Fixed administrative expenses Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $ 30 $ 3.7 $ 3.2 $ 50,000 $ 24,000 $ 19,000 $340,000 What is the contribution margin? Multiple Choice O $17.000 $241,000 Assume the following information for a merchandising company: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Fixed selling expenses Fixed administrative expenses Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $ 30 $ 3.4 $ 2.4 $ 30,000 $ 50,000 $ 24,000 $ 19,000 $340,000 What is the net operating income? Multiple Choice $39,000 $49.000 Assume the following information for a merchandising company: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Fixed administrative expenses Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 19,400 $ 30 $ 3 $ 2 $ 50,000 $ 24,000 $ 19,000 $339,000 What is the amount of total variable expenses? Multiple Choice $441,000 $432,800 A company's relevant range of production is 10,000 to 15,000 units. When it produces and sells 12,000 units, its unit costs are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Amount per Unit $7.00 $4.00 $1.50 $5.00 $3.50 $2.00 $1.00 $0.50 If 11100 units are produced, what is the total amount of indirect manufacturing costs incurred to support this level of production? Multiple Choice $88,800 $72,150 $76,650 Alat

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Agile Auditing Transforming The Internal Audit Process

Authors: Rick A. Wright Jr. CIA

1st Edition

1634540689, 978-1634540681

More Books

Students also viewed these Accounting questions

Question

Be able to differentiate between arbitration and mediation

Answered: 1 week ago

Question

Understand how arbitrators are credentialed and selected

Answered: 1 week ago

Question

Appreciate the advantages of arbitration

Answered: 1 week ago