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Managerial Accounting Homework Help I seem to have gotten a few of the following columns wrong on some of my homework I was hoping someone
Managerial Accounting Homework Help
I seem to have gotten a few of the following columns wrong on some of my homework I was hoping someone could correct me and explain why. Thank you so much in advance. Attached are the pictures I took of the problem. There are 2 parts to the problem.
2 Fanelli Corporation, a merchandising company, reported the following results for July: 50 points Number of units sold Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense 5,500 $ 600 $ 407 $ 60 $ 125,000 $ 30 $ 206,900 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution format income statement for July. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a contribution format income statement for July. $ 3,300,000 Fanelli Corporation For the month of July Contribution Format Income Statement Sales Variable expenses Cost of goods sold $ 2,238,500 Selling expense 330,000 Administrative expense 165,000 2.733,500 566,500 $ Accounts payable Contribution margin Fixed expenses Selling expense Administrative expense Manufacturing overhead Selling expense Net operating income 125,000 206,900 331,900 234,600 $Step by Step Solution
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