Question
Hi, please answer the below question ASAP for MBA 560 Financial and Managerial Accounting. PROBLEM #1 Pillard Drycleaners has capacity to clean up to garments
Hi, please answer the below question ASAP for MBA 560 Financial and Managerial Accounting.
PROBLEM #1
Pillard Drycleaners has capacity to clean up to garments per month.
Assume that Pillard charges customers $6 per garment for dry cleaning. Prepare Pillard's projected income statement if 4,220 garments are cleaned in March. First, prepare the income statement using the traditional format; then, prepare Pillard's contribution margin income statement.
Begin by preparing the projected income statement using the traditional format. (Round your answers to the nearest whole dollar. Check your spelling carefully and do not abbreviate.)
| 2,000 | 3,500 | 5,000 |
|
|
| Garments | Garments | Garments |
| Total variable costs | $1,600 | $2,800 | $4,000 |
| Total fixed costs | 7,000 | 7,000 | 7,000 |
| Total operating costs | $8,600 | $9,800 | $11,000 |
|
|
|
|
|
| Variable cost per garment | $0.80 | $0.80 | $0.80 |
| Fixed cost per garment | 3.50 | 2.00 | 1.40 |
| Average cost per garment | $4.30 | $2.80 | $2.20 |
|
| Pillard Drycleaners |
| ||
|
| Projected Income Statement |
| ||
|
| Month Ended March 31 |
| ||
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
Next complete the projected contribution margin income statement. (Round your answers to the nearest whole dollar. Check your spelling carefully and do not abbreviate.)
|
| Pillard Drycleaners |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Projected Contribution Margin Income Statement | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
| Month Ended March 31 |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PROBLEM #2
Petrov Drycleaners has capacity to clean up to 9,000 garments per month. Assume that Petrov charges customers $9 per garment for dry cleaning. Prepare Petrov's projected income statement if 4,220 garments are cleaned in March. First, prepare the income statement using the traditional format; then, prepare Petrovs contribution margin income statement. Begin by preparing the projected income statement using the traditional format. (Round your answers to the nearest whole dollar. Check your spelling carefully and do not abbreviate.)
Next complete the projected contribution margin income statement. (Round your answers to the nearest whole dollar. Check your spelling carefully and do not abbreviate
|
|
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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
Financial Accounting A Practical Introduction
Authors: Ilias Basioudis
1st Edition
0273714295, 978-0273714293
