Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sales commissions would be classified as a: manufacturing overhead cost selling cost direct labor cost direct materials cost Tulip Inc reported the following data for

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Sales commissions would be classified as a: manufacturing overhead cost selling cost direct labor cost direct materials cost Tulip Inc reported the following data for the month of March: Description Direct materials Direct labor Manufacturing overhead Selling expense Administrative expense Amount $12,600 $3,100 $8,000 $6,200 $1,300 The conversion cost for March was: A. $11,100 B. $15,700 c. $23,700 D. $7,500 Daisy Inc reported the following data for the month of March: Description Direct materials Direct labor Manufacturing overhead Selling expense Administrative expense Amount $14,500 $4,200 $9,100 $7,300 $2,400 The period cost for March was: A. $18,700 B. $13,300 c. $27,800 D. $9,700 Sunny Corporation reported the following results for December: Description Amount Number of units sold 800 units Selling price per unit $500 per unit Cost of goods sold per unit (all variable) $250 per unit Variable selling expense per unit $45 per unit Fixed selling expense $22,100 Variable administrative expense per unit $32 per unit Fixed administrative expense $15,400 The gross margin for December is: A. $138,400 B. $200,000 C. $338,400 D. $162,500 Sunny Corporation reported the following results for December: Description Number of units sold Selling price per unit Cost of goods sold per unit (all variable) Variable selling expense per unit Fixed selling expense Variable administrative expense per unit Fixed administrative expense Amount 800 units $500 per unit $250 per unit $45 per unit $22,100 $32 per unit $15,400 The contribution margin for December is: A. $138,400 B. $200,000 C. $338,400 D. 5162,500

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

Auditing And EDP Objective Questions And Explanations

Authors: Irvin N Gleim, William A. Hillison

4th Edition

0917537432, 978-0917537431

Students also viewed these Accounting questions