{
    "key_pair_value_system": true,
    "answer_rating_count": "",
    "question_feedback_html": {
        "html_star": "",
        "html_star_feedback": ""
    },
    "answer_average_rating_value": "",
    "answer_date_js": "2024-06-28T04:47:33-04:00",
    "answer_date": "2024-06-28 04:47:33",
    "is_docs_available": null,
    "is_excel_available": null,
    "is_pdf_available": null,
    "count_file_available": 0,
    "main_page": "student_question_view",
    "question_id": "4242840",
    "url": "\/study-help\/questions\/how-do-i-calculate-the-variable-and-fixed-costs-for-4242840",
    "question_creation_date_js": "2024-06-28T04:47:33-04:00",
    "question_creation_date": "Jun 28, 2024 04:47 AM",
    "meta_title": "[Solved] How do i calculate the variable and fixed | SolutionInn",
    "meta_description": "Answer of - How do i calculate the variable and fixed costs for this problem? Russell Inc. had sales of $2,300,000for the first qu | SolutionInn",
    "meta_keywords": "variable,fixed,costs,problem,russell,inc,sales,$2,300,000for,first,quarter,2017,making",
    "question_title_h1": "How do i calculate the variable and fixed costs for this problem? Russell Inc. had sales of $2,300,000for the first quarter of 2017. In making",
    "question_title": "How do i calculate the variable and fixed costs for this problem?",
    "question_title_for_js_snippet": "How do i calculate the variable and fixed costs for this problem  Russell Inc  had sales of $2,300,000for the first quarter of 2017  In making the sales, the company incurred the following costs and expenses  Variable Fixed Cost of goods sold $941,000 $474,000 Selling expenses 104,000 77,000 Administrative expenses 108,000 102,000 Prepare a CVP income statement for the quarter ended March 31, 2017  RUSSELL INC  CVP Income Statement For the Month Ended March 31, 2017For the Quarter Ended March 31, 2017March 31, 2017 Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income (Loss)SalesSelling ExpensesVariable Costs $2300000 Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income (Loss)SalesSelling ExpensesVariable Costs Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income (Loss)SalesSelling ExpensesVariable Costs Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income (Loss)SalesSelling ExpensesVariable Costs Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income (Loss)SalesSelling ExpensesVariable Costs $",
    "question_description": "<p>How do i calculate the variable and fixed costs for this problem?<\/p> <p> <\/p> <p>Russell Inc. had sales of $2,300,000for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses.<\/p> <p> <\/p> <table><tbody> <tr> <td> Variable <\/td> <td> Fixed <\/td> <\/tr> <tr> <td>Cost of goods sold<\/td> <td>$941,000<\/td> <td>$474,000<\/td> <\/tr> <tr> <td>Selling expenses<\/td> <td>104,000<\/td> <td>77,000<\/td> <\/tr> <tr> <td>Administrative expenses<\/td> <td>108,000<\/td> <td>102,000<\/td> <\/tr> <\/tbody><\/table> <p> <\/p> <p>Prepare a CVP income statement for the quarter ended March 31, 2017.<\/p> <p> <\/p> <table><tbody> <tr><td> RUSSELL INC. CVP Income Statement For the Month Ended March 31, 2017For the Quarter Ended March 31, 2017March 31, 2017<\/td><\/tr> <tr> <td> Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income\/(Loss)SalesSelling ExpensesVariable Costs<\/td> <td> $2300000<\/td> <\/tr> <tr> <td> Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income\/(Loss)SalesSelling ExpensesVariable Costs<\/td> <td> <\/td> <\/tr> <tr> <td> Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income\/(Loss)SalesSelling ExpensesVariable Costs<\/td> <td> <\/td> <\/tr> <tr> <td> Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income\/(Loss)SalesSelling ExpensesVariable Costs<\/td> <td> <\/td> <\/tr> <tr> <td> Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income\/(Loss)SalesSelling ExpensesVariable Costs<\/td> <td><p> $ <\/p><\/td> <\/tr> <\/tbody><\/table>",
    "transcribed_text": "",
    "related_book": {
        "title": "Auditing and Assurance Services",
        "isbn": "978-1259573286, 1259573281, 978-1260152166",
        "edition": "7th edition",
        "authors": "Timothy Louwers, Allen Blay, David Sinason, Jerry Strawser, Jay Thibodeau",
        "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1263.jpg",
        "uri": "\/textbooks\/auditing-and-assurance-services-7th-edition-1263",
        "see_more_uri": ""
    },
    "free_related_book": {
        "isbn": "173474135X",
        "uri": "\/textbooks\/ptce-pharmacy-technician-certification-exam-premium-4-practice-tests-comprehensive-review-online-practice-3rd-edition-978-1506280424-266457",
        "name": "EKG ECG Interpretation Everything You Need To Know About The 12 Lead ECG EKG Interpretation And How To Diagnose And Treat Arrhythmias",
        "edition": "2nd Edition"
    },
    "question_posted": "2024-06-28 04:47:33",
    "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13",
    "step_by_step_answer": "The Answer is in the image, click to view ...",
    "students_also_viewed": [
        {
            "url": "\/the-following-events-occurred-in-independent-cases-but-in-each",
            "description": "The following events occurred in independent cases, but in each instance the event happened after the close of the fiscal year under audit but before all members of the audit team had left the office...",
            "stars": 3
        },
        {
            "url": "\/study-help\/psychology\/if-you-say-i-am-catholic-which-part-of-your-1982747",
            "description": "If you say, I am Catholic, which part of your identity are you revealing?",
            "stars": 3
        },
        {
            "url": "\/refer-to-the-original-data-in-p2230b-and-the-revisions",
            "description": "Refer to the original data in P22-30B and the revisions presented in P22-34B. Requirements 1. Prepare the schedule of budgeted cash collections from customers for April and May. 2. Prepare the...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/mdulo-5-asignacin-individual-incoterms-15-en-esta-tarea-individual-9850269",
            "description": "Mdulo 5: Asignacin Individual Incoterms (15%) En esta tarea individual, aplicar los conceptos aprendidos en este mdulo (libro de texto electrnico de CIFFA, aprendizaje electrnico de CIFFA, leccin:...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/mike-received-the-following-income-during-the-2021-taxable-year-832837",
            "description": "Mike received the following income during the 2021 taxable year: Gross income, Philippines Gross income, Canada Business expenses, Philippines Business expenses, Canada Interest on bank deposit,...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/as-an-analyst-for-fincorp-inc-you-are-responsible-for-1415349",
            "description": "As an analyst for FinCorp Inc., you are responsible for many firms, including ADFC. Currently you have a \"hold\" recommendation on ADFC.20 The current price of ADFC is $140. You have conducted an...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/troy-engines-ltd-manufactures-a-variety-of-engines-for-use-5633055",
            "description": "Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/vignette-assumptionstorytatiana-tatiana-is-five-years-old-and-was-adopted-1415808",
            "description": "Vignette AssumptionStory:Tatiana Tatiana is five years old and was adopted at age three. Tatiana's adoptive parents have three biological sons, aged eight, ten, and seventeen, who the parents say...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/10-the-head-of-raha-institute-has-assured-its-staff-5214824",
            "description": "10. The Head of RAHA Institute has assured its staff of supply of laptop computer for all lecturers. He has discussed with Computa Ghana for the supply of the Laptops. He has been stopped by your...",
            "stars": 3
        },
        {
            "url": "\/study-help\/questions\/determine-the-price-of-2-year-bond-with-6-monthly-1417403",
            "description": "Determine the price of 2 year bond with 6 monthly coupons of 10% per annum, a yield of 6.4% per annum and face value of 100$ where the bond is purchased with 40 days to the first coupon payment and...",
            "stars": 3
        }
    ],
    "next_back_navigation": {
        "previous": "\/study-help\/questions\/what-are-the-two-meanings-of-a-flexible-budget-how-4242839",
        "next": "\/study-help\/questions\/question-29-4-points-which-of-the-following-circumstances-will-4242841"
    },
    "breadcrumbs": [
        {
            "name": "Study help",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers"
        },
        {
            "name": "Business",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business"
        },
        {
            "name": "Accounting",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting"
        },
        {
            "name": "How do i calculate the variable and fixed costs for this problem?",
            "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/how-do-i-calculate-the-variable-and-fixed-costs-for-4242840"
        }
    ],
    "skill_details": {
        "skill_id": "9",
        "skill_name": "Accounting",
        "parent_id": "1"
    }
}
}