Create a contribution margin income statement

Assignment Help Managerial Accounting
Reference no: EM132537658

Contribution Margin Income Statement. Last year Pod Products, Inc., sold its product for $250 per unit. Production costs totaled $40,000 (25 percent fixed, 75 percent variable). Selling and administrative costs totaled $150,000 (10 percent fixed, 90 percent variable). Pod Products produced and sold 1,000 units last year.

Required:

Question 1: Create a contribution margin income statement for Pod Products, Inc.

Fill in the Blanks below:

Sales

Variable Costs

Cost of Goods Sold

Selling and Administrative Costs

Total Variable Costs -

Contribution Margin -

Fixed Costs

Cost of Goods Sold

Selling and Administrative Costs

Total Fixed Costs -

Operating Profits -

Reference no: EM132537658

Questions Cloud

Explain three unique ways fungi are different : Compare things like cell walls, cell membranes, morphology, reproduction, life cycles.
Discuss relationship between knowledge strategy formulation : Discuss the relationship between Knowledge Strategy Formulation and Strategy Implementation. Include three (3) main points.
Identify the modes of transmission of sars-cov-2 : Based on the five modes of infectious disease transmission, how can you identify the modes of transmission of the SARS-CoV-2?
Determine jan ways net income from bear park : Revenues during 2005-camping fees $140,000 Market value of equipment $140,000. Determine Jan Way's net income from Bear Park for 2005
Create a contribution margin income statement : Create a contribution margin income statement for Pod Products, Inc. Production costs totaled $40,000 (25 percent fixed, 75 percent variable)
Prepare comprehensive strategic plan : Based upon the completed assignments for this course, prepare a comprehensive strategic plan for your selected department or governmental entity.
Estimate total fixed costs per year : High-low method to estimate total fixed costs per year and the variable cost per mile. State your results in the cost equation form Y = f + vX.
How many units of this product must be sold : Dallas Corporation wishes to market a new product at a selling price of $1.50 per unit. How many units of this product must be sold to earn a target income
Present quantified via gc-mass spectrometry : You are studying the metabolic capabilities of a species of bacteria by growing cultures on different carbon sources and comparing their mRNA expression

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Prepare the budgets for the first three months

BUSI 2083 Managerial Accounting Yorkville University - Prepare the budgets for the first three months of 2016 - schedule of expected cash collections from sales

  T-accounts

Post the July, August, and September Journal Entries on T-ACCOUNTS

  What are the responsibility accounting performance reports

What are the Responsibility accounting performance reports? Are usually summarized at higher levels of management. Are useful in any format.

  Compute what will be the effect on net income

Marigold has sufficient unused capacity to produce the 3400 units. If the special order is accepted, what will be the effect on net income?

  Make a production budget for the months

Compute the budgeted cash payments, for purchases of direct material, that would appear on the December cash budget. Make a production budget for the months

  What is the before and after tax cost of debt for olympic

What is the before and after tax cost of debt for Olympic? Olympic Sports has two issues of debt outstanding. One is a 9% coupon bond with a face value of $32.

  What should tuition per student be

What should tuition per student be?What was the amount of operating income the flexible budget would have shown for the actual activity level for June?

  Compute the earnings after tax for 150 shows

Compute the number of shows needed annually to break even. Compute the number of shows needed annually to earn a net income of $6,000,000

  Inventory control in a merchandising division

Adding certain controls costing $35,000 annually could reduce these losses to 0.5 percent of purchases. Should the control be recommended?

  Abraham company uses process costing to account

Abraham Company uses process costing to account for its production costs. Direct labor is added evenly throughout the process.

  Find what is the variable cost per hour

What is the variable cost per hour? (Round your answer to 2 decimal places.) Wallace Heating is attempting to estimate its costs

  What irr will be

10% and it uses that as the hurdle rate for capital budgeting. Using internal rate of return (IRR), if a project is acceptable to management, then IRR will be

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd