Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please hurry up Exercise 1 Yennefer Inc. shows the following information for 2020: Direct materials (variable) Direct labor (variable) Manufacturing overhead (fixed) Selling and advertising

image text in transcribed

image text in transcribed

image text in transcribed

please hurry up

Exercise 1 Yennefer Inc. shows the following information for 2020: Direct materials (variable) Direct labor (variable) Manufacturing overhead (fixed) Selling and advertising costs (variable) Selling and marketing costs (fixed) Other operating expenses (fixed) Interest expenses Gain on disposal of plant assets Income tax expense 71,600 48,670 228,900 45,600 87,900 612,300 Accounts receivable, beginning Accounts receivable, ending Inventories, beginning Inventories, ending Accounts payable, beginning Accounts payable, ending 37,700 5,800 30% of pre-tax income 18,200 13,200 10,700 28,300 27,500 20,100 28,300 nning 27,500 unts payable, ending 20,100 Depreciation and amortization charges represent 20% of Manufacturing overhead, 5% of fixed Selling and marketing expenses, and 10% of Other operating expenses. During the year, the company manufactured 2,780 units of finished goods and to sold 2,620 units at 445 each. The company also distributes 25 units of products for promotion. Required: 1. Prepare the income statement using the cost of goods sold format, clearich 2. Prepare the income statement using the total and the EBIT 2 uring overhead, 5% of fixed operating expenses. During the year, the urinished goods and to sold 2,620 units at CAS each. The We 25 units of products for promotion. quired: 1. Prepare the income statement using the cost of goods sold format, clearly showing the EBIT; 2. Prepare the income statement using the total output format, clearly showing the EBITDA and the EBIT. 3. Prepare the contribution margin income statement, using both the cost of goods sold and the total output format; 4. Prepare the operating section of the cash flow statement, 5. Determine the break-even point in units and the margin of safety at the current level of sales. Exercise 2 On September 105

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions