Answered step by step
Verified Expert Solution
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
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