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Crispin Company Traditional Format Income Statement Sales $ 8 , 0 0 0 , 0 0 0 Cost of goods sold $ 5 , 9
Crispin Company Traditional Format Income Statement Sales $ Cost of goods sold $ Gross margin $ Selling and administrative expenses: Selling $ Administrative $ $ Net operating income $ C rispin Company Contribution Format Income Statement Sales $ Variable expenses: Cost of goods sold $ Variable selling $ Variable administrative $ $ Contribution margin $ Fixed expenses: Fixed manufacturnig overhead $ Fixed selling $ Fixed administrative $ $ Net operating income $ Crispin Companys sales from last year were $ million. The company maintains no beginning or ending inventories. It has assembled all of its costs from last year and would like your assistance in sorting these costs into various categories, depicting them graphically, and preparing traditional and contribution format income statements. Calculate the companys total product cost Calculate the total period cost Cost Classifications: Account Amount Product Period "Manufacturing Nonmanufacturing" Fixed Variable Equipment depreciation: Molding $ Product MOH Fixed Equipment depreciation: Fabrication $ Product MOH Fixed Equipment depreciation: Assembly $ Product MOH Fixed Equipment depreciation: Materials Handling $ Product MOH Fixed Equipment depreciation: Other $ Product MOH Fixed Production suprvision: Molding $ Product MOH Fixed Production supervision: Fabrication $ Product MOH Fixed Production supervision: Assembly $ Product MOH Fixed Indirect labor: Maintenance & Repairs $ Product MOH Fixed Indirect labor: Materials Handling $ Product MOH Fixed Indirect labor: Engineering $ Product MOH Fixed Indirect labor: Raw Materials Purchasing $ Product MOH Fixed Indirect labor: Quality Control $ Product MOH Fixed Indirect labor: Packaging & Shipping $ Product MOH Fixed Indirect materials: Molding $ Product MOH Variable Indirect materials: Fabrication $ Product MOH Variable Indirect materials: Assembly $ Product MOH Variable Utilities: Molding $ Product MOH Variable Utilities: Fabrication $ Product MOH Variable Utilities: Assembly $ Product MOH Variable Utiltiies: Plant lighting and other equipment $ Product MOH Fixed Utilities: Heating and cooling $ Product MOH Fixed Property insurance $ Product MOH Fixed Liability insurance $ Product MOH Fixed Medical insurance $ Product MOH Fixed Workers' compensation insurance $ Product MOH Fixed Other salaries: Plant manager $ Product MOH Fixed Other salaries: Accounting $ Product MOH Fixed Other salaries: Administrative support $ Product MOH Fixed Other salaries: Janitorial $ Product MOH Fixed Other salaries: Security and grounds maintenance $ Product MOH Fixed Property taxes $ Product MOH Fixed Payroll taxes: Direct labor $ Product MOH Variable Payroll taxes: Other $ Product MOH Fixed Direct materials $ Product Direct materials Variable Direct labor $ Product Direct labor Variable Accounting manager's salary $ Period Administrative Fixed Administrative office insurance $ Period Administrative Fixed Advertising $ Period Selling Fixed Depreciation on office equipment $ Period Administrative Fixed Heat & electricity for the general office $ Period Administrative Fixed Janitorial services for administrative offices $ Period Administrative Fixed Salaries of accounts receivablepayable clerks $ Period Administrative Fixed Sales commissions $ Period Selling Variable Sales manager's salary $ Period Selling Fixed Supplies for administrative office $ Period Administrative Fixed Customer billing supplies $ Period Administrative Variable
Crispin Company
Traditional Format Income Statement
Sales $
Cost of goods sold $
Gross margin $
Selling and administrative expenses:
Selling $
Administrative $ $
Net operating income $
C
rispin Company
Contribution Format Income Statement
Sales $
Variable expenses:
Cost of goods sold $
Variable selling $
Variable administrative $ $
Contribution margin $
Fixed expenses:
Fixed manufacturnig overhead $
Fixed selling $
Fixed administrative $ $
Net operating income $
Crispin Companys sales from last year were $ million. The company maintains no beginning or ending inventories. It has assembled all of its costs from last year and would like your assistance in sorting these costs into various categories, depicting them graphically, and preparing traditional and contribution format income statements.
Calculate the companys total product cost
Calculate the total period cost
Cost Classifications:
Account Amount Product Period "Manufacturing
Nonmanufacturing" Fixed Variable
Equipment depreciation: Molding $ Product MOH Fixed
Equipment depreciation: Fabrication $ Product MOH Fixed
Equipment depreciation: Assembly $ Product MOH Fixed
Equipment depreciation: Materials Handling $ Product MOH Fixed
Equipment depreciation: Other $ Product MOH Fixed
Production suprvision: Molding $ Product MOH Fixed
Production supervision: Fabrication $ Product MOH Fixed
Production supervision: Assembly $ Product MOH Fixed
Indirect labor: Maintenance & Repairs $ Product MOH Fixed
Indirect labor: Materials Handling $ Product MOH Fixed
Indirect labor: Engineering $ Product MOH Fixed
Indirect labor: Raw Materials Purchasing $ Product MOH Fixed
Indirect labor: Quality Control $ Product MOH Fixed
Indirect labor: Packaging & Shipping $ Product MOH Fixed
Indirect materials: Molding $ Product MOH Variable
Indirect materials: Fabrication $ Product MOH Variable
Indirect materials: Assembly $ Product MOH Variable
Utilities: Molding $ Product MOH Variable
Utilities: Fabrication $ Product MOH Variable
Utilities: Assembly $ Product MOH Variable
Utiltiies: Plant lighting and other equipment $ Product MOH Fixed
Utilities: Heating and cooling $ Product MOH Fixed
Property insurance $ Product MOH Fixed
Liability insurance $ Product MOH Fixed
Medical insurance $ Product MOH Fixed
Workers' compensation insurance $ Product MOH Fixed
Other salaries: Plant manager $ Product MOH Fixed
Other salaries: Accounting $ Product MOH Fixed
Other salaries: Administrative support $ Product MOH Fixed
Other salaries: Janitorial $ Product MOH Fixed
Other salaries: Security and grounds maintenance $ Product MOH Fixed
Property taxes $ Product MOH Fixed
Payroll taxes: Direct labor $ Product MOH Variable
Payroll taxes: Other $ Product MOH Fixed
Direct materials $ Product Direct materials Variable
Direct labor $ Product Direct labor Variable
Accounting manager's salary $ Period Administrative Fixed
Administrative office insurance $ Period Administrative Fixed
Advertising $ Period Selling Fixed
Depreciation on office equipment $ Period Administrative Fixed
Heat & electricity for the general office $ Period Administrative Fixed
Janitorial services for administrative offices $ Period Administrative Fixed
Salaries of accounts receivablepayable clerks $ Period Administrative Fixed
Sales commissions $ Period Selling Variable
Sales manager's salary $ Period Selling Fixed
Supplies for administrative office $ Period Administrative Fixed
Customer billing supplies $ Period Administrative Variable
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