Homework Answers
Answer- Gross Margin for May is= $15000000.
Explanation- Gross Margin =Sales- Cost of good sold
= (10000 units*$2000 per unit)- (10000 units*$500 per unit)
= $15000000
Answer- Contribution margin for May is= $13500000.
Explanation- Contribution Margin = Sales- variable costs
= ($2000 per unit-$500 per unit-$100 per unit-$50 per unit)*10000 units
= $13500000
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Variable costs per unit:
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Direct materials
$
24
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$
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Variable manufacturing overhead
$
2
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4
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800,000
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information based on 1,000 units sold:
Sales
$
465,000
Beginning merchandise inventory
$
31,000
Purchases
$
310,000
Ending merchandise inventory
$
15,500
Fixed selling expense
$
?
Fixed administrative expense
$
18,600
Variable selling expense
$
23,250
Variable administrative expense
$
?
Contribution margin
$
93,000
Net operating income
$
27,900
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Prepare a traditional format income statement.
Calculate the selling price per unit, the variable...
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Direct materials
$
24
Direct labor
$
14
Variable manufacturing overhead
$
2
Variable selling and administrative
$
4
Fixed costs per year:
Fixed manufacturing overhead
$
800,000
Fixed selling and administrative expense
$...
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