Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
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
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 Administration Staff - Salary Expense 40,000 50,000 Advertising Staff - Salary Expense Advertising Staff - Wage Expense 60,000 50,000 Direct Material - Fixed 85,000 Direct Material - Variable 65,000 Manufacturing Overhead - Variable Manufacturing Overhead - Fixed 25,000 20,000 Janitorial Staff - Wage Expense 35,000 REQUIRED Uthmon.com wred to achindividual accounts such as Administration Start- Wape Expense or Direct labore efect the name of the touche amount opposite Answer merred to tech individual accounts such as Administration Star Wage Expense or Direct Labour. Pored Select the name at hortando amount oportet me
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started