Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Parent Fumiture Company manufactures and sells oak tables and chairs. Price and cost data for the fumiture follow (Click the icon to view the price

Parent Fumiture Company manufactures and sells oak tables and chairs. Price and cost data for the fumiture follow (Click the icon to view the price and cost data) Parent Fumiture has three sales representatives Ashton, Brody, and Casey, Ashton sold 70 tables with 6 chaks each. Brody sold 100 tables with 4 chairs each Casey sold 60 tables with Il chairs each Read the requirements Requirement 1. Calculate the total contribution margin and the contribution margin ratio for each sales representative (round to two decimal places) Before calculating the total contribution margin, begin by identifying and calculating the total number of tables and chairs sold by each sales representative for the period Sales representative Ashton Brody Casey Tables sold Data table Chairs per table Total chairs sold Tables Chairs Sales Price S 000 $ 40 Variable manufacturing costs 720 14 Sales commission (5%) 45 Help me s Requirements 1. Calculate the total contribution margin and the contribution margin ratio for each sales representative (round to two decimal places) 2. Which sales representative has the highest contribution margin ratio? Explain why Print Done Check ans

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Thomson, South Western

22nd Edition

032464020X, 978-0324640205

More Books

Students also viewed these Accounting questions

Question

Understand cultural differences.

Answered: 1 week ago

Question

Tell the merits and demerits of Mendeleev's periodic table.

Answered: 1 week ago