Solution-Calculate the fixed selling and administrative

Calculate the fixed selling and administrative expenses

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Question - The following data were provided by the accounting records of Agnes Limited at year-end, December 31, 2021:

Wildhorse Industries carries no inventories. Its product is manufactured only when a customer's order is received. It is then shipped immediately after it is made. For its fiscal year ended October 31, 2022, Wildhorse's break-even point was $1.37 million. On sales of $1.50 million, its GAAP income statement showed a gross profit of $257,500, direct materials cost of $515,000, and direct labor costs of $600,000. The contribution margin was $195,000, and variable manufacturing overhead was $51,000.

Required -

1. Calculate the variable selling and administrative expenses.

2. Calculate the fixed manufacturing overhead.

3. Calculate the fixed selling and administrative expenses.

Reference no: EM133159484

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Calculate the fixed selling and administrative expenses

Reference no: EM133159484

Reference no: EM133159484

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