Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Harold Manufacturing presents the following information: Sales $2,000,000 Direct Material 850,000 Direct Labor 350,000 Fixed G and A $110,000 Net operating income $260,000 Cost of
Harold Manufacturing presents the following information:
Sales $2,000,000
Direct Material 850,000
Direct Labor 350,000
Fixed G and A $110,000
Net operating income $260,000
Cost of goods sold $1,480,000
Contribution Margin Percent 20%
Please find the following:
a. What is variable mfg overhead?
b. what is fixed mfg overhead?
c. what is variable G and A?
d. what is gross margin?
e. What are total fixed costs?
f. what are total variable costs?
g. What is the total contribution margin?
h. What is break even in $'s?
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