Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ginko Inc. produces and sells designer fanny bags. Ginko adopts an inventory policy that it does not keep any inventory. In preparing an operating budget

image text in transcribedimage text in transcribed

Ginko Inc. produces and sells designer fanny bags. Ginko adopts an inventory policy that it does not keep any inventory. In preparing an operating budget for March 2022, the controller provided you with the projected information as follows: Sales $ 250,000 Sale/Unit $250 Direct materials $30,000 $60,000 Direct labour Manufacturing Overhead 50% variable Target Earnings After Tax $30,000 Gross Margin 32% Contribution Margin 44% Income tax rate 40% Based on the projected sales volume, calculate: Do not enter "$" and "," for your answers. 1. The total period costs : 2. The total fixed costs: 3. The unit variable manufacturing overhead costs: 4. The total fixed manufacturing overhead costs: 5. The total variable period expenses: 6. The total fixed period expenses

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions

Question

State the uses of job description.

Answered: 1 week ago

Question

Explain in detail the different methods of performance appraisal .

Answered: 1 week ago