Crispin Company’s sales from last year were $8 million. The company maintains no beginning or ending inventories. It has assembled all of its costs from last year and would like your assistance in sorting these costs into various categories, depicting them graphically, and preparing traditional and contribution format income statements.
2. Using PivotTable and Charts:
a. Calculate the company’s total variable costs and total fixed costs.
|
b. Calculate the portions of the total variable costs that would be classified as product costs and period costs.
|
c. Calculate the portions of the total fixed costs that would be classified as product costs and period costs.
|
Homework Answers
Answer :
a. Compuation of company’s total variable costs and total fixed costs:
| Row Labels | Sum of Amount |
| Fixed | $ 29,55,000 |
| Variable | $ 22,37,000 |
| Grand Total | $ 51,92,000 |
Answer b:
Computation of the portions of the total variable costs that would be classified as product costs and period costs:
| Sum of Amount | Column Labels |
| Row Labels | Variable Cost |
| Period | $ 4,82,000 |
| Product | $ 17,55,000 |
| Grand Total | $ 22,37,000 |
Answer c.
Compuatation of the portions of the total fixed costs that would be classified as product costs and period costs.
| Sum of Amount | Column Labels |
| Row Labels | Fixed |
| Period | $ 7,34,000 |
| Product | $ 22,21,000 |
| Grand Total | $ 29,55,000 |
Add Answer to:
Crispin Company’s sales from last year were $8 million. The
company maintains no beginning or ending...
Crispin Company’s sales from last year were $8 million. The company maintains no beginning or ending...
Crispin Company’s sales from
last year were $8 million. The company maintains no beginning or
ending inventories. It has assembled all of its costs from last
year and would like your assistance in sorting these costs into
various categories, depicting them graphically, and preparing
traditional and contribution format income statements. (Using
Excel)
1. Go to the “Cost Summary” tab. Using
PivotTable and Charts:
a. Calculate the company’s total product costs
and total period costs.
b. Calculate the portions of the...
AutoSave OFF Esu = ExcelAnalytics_CostConcepts_Template (1) Home Insert Draw Page Layout Formulas Data Review View Tell...
AutoSave OFF Esu = ExcelAnalytics_CostConcepts_Template (1) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X Calibri (Body) "A Insert 11 = = Σν ab Wrap Text Custom 48- 0 DX Delete Paste B I U Av * Merge & Center C%) Ideas Cell Styles Conditional Format Formatting as Table Sensitivity Sort & Filter A Format Find & Select G16 fx A B с D E F G 1 2 Account 3 Equipment depreciation: Molding 4...
AutoSave OFF Esu = ExcelAnalytics_CostConcepts_Template (1) Home Insert Draw Page Layout Formulas Data Review View Tell...
AutoSave OFF Esu = ExcelAnalytics_CostConcepts_Template (1) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X Calibri (Body) "A Insert 11 = = Σν ab Wrap Text Custom 48- 0 DX Delete Paste B I U Av * Merge & Center C%) Ideas Cell Styles Conditional Format Formatting as Table Sensitivity Sort & Filter A Format Find & Select G16 fx A B с D E F G 1 2 Account 3 Equipment depreciation: Molding 4...
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The following calendar year-end information istaken from the December 31, 2017, adjusted trial balance and other records of Leone Company Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases* Rent exp Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $30,250 9,500 9,900 37,550 108,360 8,850 37,500 693,000 74,200 8,875 65,200 935,000 29,800 30,900...
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Crispin Company’s sales from
last year were $8 million. The company maintains no beginning or
ending inventories. It has assembled all of its costs from last
year and would like your assistance in sorting these costs into
various categories, depicting them graphically, and preparing
traditional and contribution format income statements. (Using
Excel)
1. Go to the “Cost Summary” tab. Using
PivotTable and Charts:
a. Calculate the company’s total product costs
and total period costs.
b. Calculate the portions of the...
AutoSave OFF Esu = ExcelAnalytics_CostConcepts_Template (1) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X Calibri (Body) "A Insert 11 = = Σν ab Wrap Text Custom 48- 0 DX Delete Paste B I U Av * Merge & Center C%) Ideas Cell Styles Conditional Format Formatting as Table Sensitivity Sort & Filter A Format Find & Select G16 fx A B с D E F G 1 2 Account 3 Equipment depreciation: Molding 4...
AutoSave OFF Esu = ExcelAnalytics_CostConcepts_Template (1) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X Calibri (Body) "A Insert 11 = = Σν ab Wrap Text Custom 48- 0 DX Delete Paste B I U Av * Merge & Center C%) Ideas Cell Styles Conditional Format Formatting as Table Sensitivity Sort & Filter A Format Find & Select G16 fx A B с D E F G 1 2 Account 3 Equipment depreciation: Molding 4...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases* Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 28,750 7,250 8,600 33,550 102,600 7,350 33,000 675,480 56,875 8,425 63,000...
The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Miscellaneous production costs office salaries expense Rav materials purchases Rent expense-office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense 31,750 8,500 10,300 33,950 108,660 10,350 34,200 729,000 62,800 10,225 72,350 957,500...
The following calendar year-end information istaken from the December 31, 2017, adjusted trial balance and other records of Leone Company Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases* Rent exp Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $30,250 9,500 9,900 37,550 108,360 8,850 37,500 693,000 74,200 8,875 65,200 935,000 29,800 30,900...
The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used (indirect materials) Factory utilities Direct labor Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases (direct) Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 30,250 7,750 10,100 38,550 105,360 10,850 38, 400...
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