User Account

All Pages

What is the contribution margin for the year

Assignment Help Financial Accounting
Reference no: EM132498541

Here are data regarding Iron Industries' current year operations:

Units produced during year                        1,800

Units sold during year                                900

Selling price                                             $160 per unit

Variable manufacturing costs                       $62 per unit

Variable selling and administrative expenses    $5 per unit

Fixed manufacturing overhead                     $33,000 total

Fixed selling and administrative expenses          $8,000 total

Question 1: Using variable costing, what is the contribution margin for the year?

Reference no: EM132498541

Questions Cloud

Define seven principles of culturally responsive teaching : Now that you have been introduced to the broad framework of becoming a culturally competent teacher, it is your challenge to make the connection between.
Determine taxable income and income tax liability : $55,000 (basis = $30,000). If Clarice is single and has no dependents, determine her taxable income and her income tax liability for 2019.
What is the canadian divisions return on investmen : What is the Canadian Division's return on investment? (Round to nearest whole percent.) What is the Canadian Division's turnover?
Equal rights amendment at the illinois state capitol : Conservative Phyllis Schlafly campaigning against the Equal Rights Amendment at the Illinois State Capitol in 1978
What is the contribution margin for the year : Using variable costing, what is the contribution margin for the year? Here are data regarding Iron Industries' current year operations
What can an educator do to help parents : What can an educator do to help parents understand the importance of helping to build their child's vocabulary skills at home? Provide two recommended.
What kind of gain or loss does recognize from each sale : How much and what kind of gain or loss does she recognize from each sale? What tax rate applies to the neg gain if Barbara is a single individual with $169,000
Dicsuss pharmaceutical research and development funding : Should Pharma record the costs it incurs while performing R&D activities associated with Drug X as R&D expense? Why or why not?
Determine the appropriate scale for representation for plan : Exercise will provide students with the opportunity to master scale and measurement while developing a working knowledge of representing the city to portray

Reviews

Write a Review

Financial Accounting Questions & Answers

  The gross profit

Given the information below what is the gross profit?

  Capitalize costs to an asset to the point

A company must capitalize costs to an asset to the point of:

  Prepare a cash budget for december

Prepare a cash budget for December, January and February. Dorothy Koehl recently leased space in the Southside Mall and opened a new business

  Compute Mountains gross profit percentage

Mountain Company made sales of $38,542 million during 20X6. Compute Mountain's gross profit percentage and rate of inventory turnover for 20X6

  Determine the linkages between the variances

Direct Material Price variance, Direct Material Quantity Variance, Total Direct Material variance. Direct Labor rate variance, Direct labor efficiency variance, Total Direct Labor Variance. Given the above variances, what connection might they have t..

  Make the hbrid economical choice over sedan gasoline car

Gasoline prices at $3.00 per gallon, consumers are rushing to purchase hybrid vehicles that get 50 miles per gallon of gasoline. The montly payment on a three year lease of a hybrid is $499 compared to $399 per month on a sedan car that gets 25 miles..

  Prepare the statement of stockholders equity

On 2014 December 31, Perez Company, the accounting records showed the following information: Prepare the Statement of Stockholders’ Equity on 2014 December 31.

  What is total amount of interest earned on the investment

On January 1, 2013, you decided to take a trip around the world after graduation. Assume that you will graduate 3 years from January 1, 2013. Your grandmother wanted to help you save money for the trip. How much money will you have for the trip at th..

  Complete the cash budget

After entering the following data in the budget, you may have just enough information to reconstruct the budget.- Complete the Cash Budget.

  What caused this company to violate accounting principles

During 2010, Sensa Corporation incurred operating expenses amounting to $100,000 of which $75,000 was paid in cash; the balance will be paid in January 2011. Transaction analysis of operating expenses for 2010 should reflect only the following.

  Explain how to organize a corporation

Jessica Johnson and Claudia Stein are opening a Submarine’s deli. Johnson and Stein need outside capital, so they plan to organize the business as a corporation. They come to you for advice. Write a memorandum informing them of the steps in forming a..

  Calculate his net pay for the month

The taxable pay is taxed at the rate of 20 per cent on the first £250 and 25 per cent thereafter. He pays National Insurance of £130 for the month. Calculate his net pay for the month.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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