{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-14T00:05:47-04:00", "answer_date": "2024-09-14 00:05:47", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10720764", "url": "\/study-help\/questions\/variable-and-usorpuon-cosungthree-produces-winslow-inc-manufactures-and-sells-10720764", "question_creation_date_js": "2024-09-14T00:05:47-04:00", "question_creation_date": "Sep 14, 2024 12:05 AM", "meta_title": "[Solved] Variable and usorpuon cosung-Three ProdUC | SolutionInn", "meta_description": "Answer of - Variable and usorpuon cosung-Three ProdUCES Winslow Inc, manufactures and sells three types of shoes. The income state | SolutionInn", "meta_keywords": "variable,usorpuon,cosung-three,produces,winslow,inc,manufactures,sells,three,types,shoes,income", "question_title_h1": "Variable and usorpuon cosung-Three ProdUCES Winslow Inc, manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for the", "question_title": "Variable and usorpuon cosung-Three ProdUCES Winslow Inc, manufactures and sells three types", "question_title_for_js_snippet": "Variable and usorpuon cosung Three ProdUCES Winslow Inc, manufactures and sells three types of shoes The income statements prepared under the absorption costing method for the three shoes are as follows Winslow Inc Product Income Statements Absorption Costing For the Year Ended December 31, 2011 Cross Training Shoes Golf Shoes Running Shoes Revenues $368,900 $210,300 $176,700 Cost of goods sold 191,800 103,000 118,400 Gross profit $177,100 $107,300 $58,300 Selling and administrative expenses 152,300 77,300 97,400 Income (loss) from operations $24,800 $30,000 $(39,100) In addition, you have determined the following information with respect to allocated fixed costs Cross Golf Running Training Shoes Shoes Shoes Fixed costs Cost of goods sold $59,000 $27,300 $24,700 Selling and administrative expenses 44,300 25, 200 24,700 These fixed costs are used to support all three product lines In addition, you have determined that the inventory is negligible The management of the company has deemed the profit performance of the running shoe line as unacceptable As a result, it has decided to eliminate the running shoe line Management does not expect to be able to increase sales in the other two lines However, as a result of elifainating the running shoe line, management expects the profits of the company to increase by $39 100 b Prepare a variable costing income statement for the three products Enter a net loss as a negative number using a minus sign enter all other amounts as positive numbers Winslow Inc Variable Costing Income Statements Three Product Lines For the Year Ended December 31, 2011 Cross Training Shoes Golf Shoes Running Shoes Fixed costs Total fixed costs Income from operations c Use the report in (b) to determine the profit impact of eliminating the running shoes line, assuming no other changes If the running shoes line were eliminated, then the contribution margin of the product line would be eliminated Thus, the profit of the company would actually should keep the line and attempt to improve the profitability of the product by by prices and the fixed costs Management volume, or", "question_description": "
\"image <\/div>
\"image<\/div> <\/div> Variable and usorpuon cosung-Three ProdUCES Winslow Inc, manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for the three shoes are as follows: Winslow Inc. Product Income Statements-Absorption Costing For the Year Ended December 31, 2011 Cross Training Shoes Golf Shoes Running Shoes Revenues $368,900 $210,300 $176,700 Cost of goods sold 191,800 103,000 118,400 Gross profit $177,100 $107,300 $58,300 Selling and administrative expenses 152,300 77,300 97,400 Income (loss) from operations $24,800 $30,000 $(39,100) In addition, you have determined the following information with respect to allocated fixed costs: Cross Golf Running Training Shoes Shoes Shoes Fixed costs: Cost of goods sold $59,000 $27,300 $24,700 Selling and administrative expenses 44,300 25, 200 24,700 These fixed costs are used to support all three product lines. In addition, you have determined that the inventory is negligible. The management of the company has deemed the profit performance of the running shoe line as unacceptable. As a result, it has decided to eliminate the running shoe line. Management does not expect to be able to increase sales in the other two lines. However, as a result of elifainating the running shoe line, management expects the profits of the company to increase by $39.100. b. Prepare a variable costing income statement for the three products. Enter a net loss as a negative number using a minus sign; enter all other amounts as positive numbers. Winslow Inc. Variable Costing Income Statements-Three Product Lines For the Year Ended December 31, 2011 Cross Training Shoes Golf Shoes Running Shoes Fixed costs: Total fixed costs Income from operations c. Use the report in (b) to determine the profit impact of eliminating the running shoes line, assuming no other changes. If the running shoes line were eliminated, then the contribution margin of the product line would be eliminated. Thus, the profit of the company would actually should keep the line and attempt to improve the profitability of the product by by prices and the fixed costs Management volume, or", "transcribed_text": "", "related_book": { "title": "Accounting", "isbn": "130898414, 9780132997379, 978-0130898418, 132997371, 978-0132569309", "edition": "9th Edition", "authors": "Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliv", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/83.jpg", "uri": "\/textbooks\/accounting-9th-edition-83", "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-14 00:05:47", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/financial-accounting-11th-edition\/p1167a-learning-objectives-3-4-5-6-preparing-the-statement-2008972", "description": "P11-67A. (Learning Objectives 3, 4, 5, 6: Preparing the statement of cash flowsdirect and indirect methods) To prepare the statement of cash flows, accountants for Daisy Electric Company have...", "stars": 0 }, { "url": "\/jake-owns-a-lawn-maintenance-company-and-luke-owns-a", "description": "Jake owns a lawn maintenance company, and Luke owns a machine repair shop. 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