# Homework: Chapter 4 Homework Score: 0 of 1 pt 6 of 6 (3 complete) 4-51 (similar...

Homework: Chapter 4 Homework Score: 0 of 1 pt 6 of 6 (3 complete) 4-51 (similar to) The Kashmir Company provides you with the following miscellaneous data regarding operations in 20X9: (Click the icon to view the data.) Requirements Compute (a) variable selling and administrative expenses, (b) contribution margin in dollars, (c) variable manufacturing overhead, (d) break-even point in sales dollars, and (e) manufacturing cost of goods sold. Complete the income statement to solve for (a) variable selling and administrative expenses, (c) variable manufacturing overhead, and (e) manufacturing cost of goods sold. Sales 300000 Cost of goods manufactured and sold Direct material 163000 Data Table Х Direct labor 23000 Fixed manufacturing overhead 18000 \$ 93,000 64,000 Total manufacturing cost of goods sold Gross profit Selling and administrative expenses: Gross profit Net profit Sales Direct materials used 300,000 163.000 Direct labor 23,000 18.000 Fixed manufacturing overhead Fixed selling and administrative expenses 14,000 Net profit There are no beginning or ending inventories. Print Done

 Sales \$300,000 Cost of goods manufactured and sold Direct material \$163,000 Direct labour \$23,000 Variable manufacturing overhead \$3,000 Fixed manufacturing overhead \$18,000 Total manufacturing cost of goods sold \$207,000 Gross profit \$93,000 Selling and administrative expenses Variable selling and administrative expense \$15,000 Fixed selling and administrative expense \$14,000 Net profit \$64,000

(a)

= \$93,000 - \$64,000 - \$14,000

= \$15,000

(b)

Contribution margin:

= \$300,000 - \$163,000 - \$23,000 - \$3,000 - \$15,000

= \$96,000

(c)

= \$300,000 - \$163,000 - \$23,000 - \$18,000 - \$93,000

= \$3,000

(d)

Contribution margin ratio:

= \$96,000 / \$300,000

= 32%

Breakeven sales:

= (\$18,000 + \$14,000) / 32%

= \$100,000

(e)

Manufacturing cost of goods sold:

= \$163,000 + \$23,000 + \$18,000 + \$3,000

= \$207,000

##### Add Answer to: Homework: Chapter 4 Homework Score: 0 of 1 pt 6 of 6 (3 complete) 4-51 (similar...
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