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I need help on letter d. Kimberly Young sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales
I need help on letter d.
Kimberly Young sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue Cost of goods sold (all variable) Gross margin Selling expenses (75% variable) Administrative expenses (25% variable) Operating income $ 156,000 118,950 37,050 12,480 20,280 $ 4,290 Prepare a contribution format income statement for Kimberly. (Round answers to decimal places, e.g. 5,275.) Sales Revenue 156000 Variable Expenses Cost of Goods Sold 118950 Selling Expense 9360 Administrative Expense 5070 i Total Variable Expenses 133380 Contribution Margin 22620 Fixed Expenses Selling Expense 3120 Administrative Expense 15210 Total Fixed Expenses 18330 4290 Operating income If Kimberly sells her cookies for $4.00 each, how many cookies did she sell during the month? (Round answer to the nearest whole number, eg. 5,275.) Cookies sold in the month 39000 What is the contribution margin per cookie? (Round unit costs to 2 decimal places, e.g. 52.75.) $ Contribution margin 58 per cookie What is Kimberly's contribution margin ratio? (Round contribution margin ratio to 2 decimal places, e.g. 52.75%.) Contribution margin ratio 85.5 %Step by Step Solution
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