Question

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osts . indirect prin pena.rs Ex: supplies, Inventory cost, sales commissions Varble cost percentage per-unit variable cost divided by selling price, or total variable costs divided by total sales Accounting 2220 Quiz #1 Due: Friday, February 7, 2020 in Class Name Class Time Problem: Consider each of the following situations independently. Fill in the banks with the appropriate information Variable Cost Selling Price per Unit $222.00 Number of Units Sold 4.200 Tocal Contribution Margin Net Total Fixed Costs $550.000 Income L ) $149,300 Number of Units Sold Total Variable Col Total Fixed Variable Cost Percentage 70.09 Total Contribution Margin $93.600 12.000 Income/(Loss) $8,600 Total Sales Selling Price per Unit $160.00 Number of Units Sold Variable Cost per Return on Contribution Margin Percentage Total Fixed Costs Income (Loss) $25,600 INUSales] 60 Total Variable Selling Price per Unit Cost Number of Units Sold 82,000 Contribution Margin Percentage Total Fixed Casts $35.000 Net Income/(Loss) ($7,940) 5514,140 Send a chat

Answer 1

	(A)	(B)	(C)	(D)	(E)	(F)
1)	Selling price per unit	Variable cost %	No. of units sold	Total Cont. Margin	Total Fixed Costs	Net Income/(Loss)
	$                        222.00	25%	4200	$          699,300.00	$       550,000.00	$          149,300.00
				(E + F)
	Sales	(4200 x $ 222)	$      932,400.00	(i)
	Cont. Margin		$      699,300.00	(ii)
	Variable Cost		$      233,100.00	(iii)
	Variable Cost %		25%	(iii / i)

	(A)	(B)	(C)	(D)	(E)	(F)
2)	No. of units sold	Total Variable Cost	Variable Cost %	Total Cont. Margin	Total Fixed Cost	Net Income/(Loss)
	12000	$           218,400.00	70%	$                  93,600.00	$          85,000.00	$              8,600.00
					(D - F)
	Sales	100%
	Variable Cost	70%
	Cont. Margin	30%
	Therefore, Variable Cost =		$ 93600 x 70% / 30%
		=	$              218,400.00

	(A)	(B)	(C)	(D)	(E)	(F)	(G)	(H)
3)	Selling price per unit	Total Sales	No. of units sold	Variable Cost p.u	Cont. Margin %	Total Fixed Cost	Net Income/(Loss)	Retun on sales
	160	$    320,000.00	2000	$                    64.00	60%	$          166,400.00	$              25,600.00	8%
			(B/A)
	Sales	100%		Fixed Cost =	Contribution Margin - Net Income
	Variable Cost	40%		=	($ 320000 x 60%) - $ 25600
	Cont. Margin	60%		=	$       166,400.00
	Variable Cost =	40% of $ 160
	=	$              64.00
	Return on sales =	Net Income / Total Sales
	Total Sales =	$ 25600 / 8%
	=	$    320,000.00

4)	Total Variable Cost	Selling price per unit	No. of units sold	Cont. Margin %	Total Fixed Cost	Net Income/(Loss)
	$              514,140.00	$                            6.60	82000	5%	$         35,000.00	$               (7,940.00)
	Cont. Margin =	Total Fixed Cost + Net Income
	=	$ 35000 + ($ 7940)
	=	$                  27,060.00
	Total sales =	Cont. Margin + Total variable Cost
	=	$ 27060 + $ 514140
	=	$                541,200.00
	Cont. Margin % =	Cont Margin / Total Sales
	=	$ 27060 / $ 541200
	=	5%
	Selling price p.u =	Total Sales / No of units sold
	=	$ 541200 / 82000
	=	$                            6.60

is this correct?