Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Folk Furniture Company manufactures and sells oak tables and chairs. Price and cost data for the furniture follow: Tables Chairs Sales Price $1,200 $50 Variable
Folk Furniture Company manufactures and sells oak tables and chairs. Price and cost data for the furniture follow: Tables Chairs Sales Price $1,200 $50 Variable manufacturing costs 924 11 Sales commission (8%) 96 4 Folk Furniture has three sales representatives: AveryAvery, BradBrad, and CaitCait. AveryAvery sold 110110 tables with fourfour chairs each. BradBrad sold 5050 tables with sixsix chairs each. CaitCait sold 8080 tables with eighteight chairs each. Requirement 1. Calculate the total contribution margin and the contribution margin ratio for each sales representative (round to two decimal places). Before calculating the total contribution margin, begin by identifying and calculating the total number of tables and chairs sold by each sales representative for the period. Sales representative: Tables sold Chairs per table Total chairs sold Avery Brad Cait
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started