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the blanks filled in answer are not correct. i would appreciate if anyone can solve this. You have been provided the following information by Mehal
the blanks filled in answer are not correct. i would appreciate if anyone can solve this.
You have been provided the following information by Mehal and Rahul Emporium.
Sales | 905,000 |
Direct Labour - Variable | 125,000 |
Direct Labour - Fixed | 150,000 |
Administration Staff - Wage Expense | 40,000 |
Administration Staff - Salary Expense | 50,000 |
Advertising Staff - Salary Expense | 60,000 |
Advertising Staff - Wage Expense | 50,000 |
Direct Material - Fixed | 85,000 |
Direct Material - Variable | 65,000 |
Manufacturing Overhead - Variable | 25,000 |
Manufacturing Overhead - Fixed | 20,000 |
Janitorial Staff - Wage Expense | 35,000 |
REQUIRED:
Using this information, complete the two tables below. You are not required to list each individual accounts such as Administration Staff - Wage Expense or Direct Labour - Fixed. Select the name of the total line such as Fixed Costs or Variable Costs and the dollar amount opposite it.
Table A is the Income Statement prepared using the Gross Margin Format
Table B is the Income Statement prepared using the Contribution Margin Format
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