Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sibling Furniture Company manufactures and sells oak tables and chairs. Price and cost data for the furniture follow: (Click the icon to view the price

image text in transcribed
Sibling Furniture Company manufactures and sells oak tables and chairs. Price and cost data for the furniture follow: (Click the icon to view the price and cost data.) Sibling Furniture has three sales representatives: Ansley, Brandon, and Camara. Ansley sold 90 tables with 8 chairs each. Brandon sold 70 tables with 4 chairs each. Camara sold 100 tables with 6 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: Tables sold Chairs per table Total chairs sold Ansley 90 8 720 i Data Table X Brandon 70 280 Camara 100 6 600 Calculate the total contribution margin for each sales representative. Tables Chairs Sales representative: Ansley Brandon Camara Sales Price $ 700 $ 100 Net sales revenue Variable manufacturing costs 532 41 Variable costs Sales commission (9%) 63 9 Contribution margin Print Done

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

Horngrens Accounting The Financial Chapters

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

10th Edition

0133117561, 978-0133117561

More Books

Students also viewed these Accounting questions