Reference no: EM132434059
Marwick's Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,497 per unit and then sells them to retail customers for an average price of $2,600 each. The company's selling and administrative costs for a typical month are presented below:
CostsCost FormulaSelling: Advertising$938 per monthSales salaries and commissions$4,815 per month, plus 4% of salesDelivery of pianos to customers$62 per piano soldUtilities$660 per monthDepreciation of sales facilities$5,052 per monthAdministrative: Executive salaries$13,416 per monthInsurance$692 per monthClerical$2,501 per month, plus $42 per piano soldDepreciation of office equipment$876 per month
During August, Marwick's Pianos, Inc., sold and delivered 63 pianos.
Required:
1. Make traditional format income statement for August.
2. solve contribution format income statement for August. Show costs and revenues on both a total and a per unit basis down through contribution margin.
Prepare a material usage budget for tintel and pintel
: SMMAR Limited manufactures and sells two products, Tintel and Pintel. The Company has determined that it will make 2,100 units of Tintel and 2,950 units
|
Gain or loss on the retirement of the bonds
: On March 31, 2014, Bundy Corporation retired $10,000,000 of bonds, which have a liability balance on March 31, 2014 of 10,500,000, by paying bondholders $9,850,
|
Assignment on master budget-partial
: Jonas Product produces shoes. The projected sales for the first quarter of the coming year and the beginning and ending inventory data are as follow:
|
Define the term sustainability
: How was sustainability quantified? How is industrial ecology related to biological ecology?Was there any risk evaluation done in this case?
|
Make traditional format income statement for august
: Make traditional format income statement for August.
|
Why is e-crm important in the present day
: What is the impact, if any, of CRM on customer retention and loyalty to brands?
|
Total amount of indirect manufacturing costs incurred
: For financial reporting purposes, what is the total amount of product costs incurred to make 6,500 units?
|
Write short notes on variance analysis
: Write short notes on (any two) (i) Variance analysis. (ii) Inflation accounting. (iii) Trend analysis.
|
What is meant by ratio analysis
: What is meant by ratio analysis? Explain its significance in the analysis and interpretation of financial statements.
|