Excess of sales over the cost of goods sold, Accounting Basics

+44 141 628 6080
[email protected]

Excess of sales over the cost of goods sold

On an income statement prepared with a direct costing approach, the excess of sales over the cost of goods sold, based on variable costs only, is referred to as the:

a)marginal gross profit on sales

b)manufacturing margin

c)marginal income on sales

d)contribution margin

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Excess of sales over the cost of goods sold

Reference No:- TGS062683

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Investment in the equipment financially attractive

Picado, Inc. is investigating an investment in equipment that would have a useful life of 8 years. The company uses a discount rate of 9% in its capital budgeting. The net present value of the investment, excluding the salvage value, is -$389,000.

Q : Equity changed-amount from the beginning of the year

Stahl Consulting started the year with total assets of $60,000 and total liabilities of $15,000. During the year, the business recorded $48,000 in catering revenues and $24,000 in expenses. Stahl issued stock of $9,000 and paid dividends of $15,00

Q : Direct costing-manufacturing margin

A company has sales of $100,000, ending finished goods inventory of $9,000, variable manufacturing costs of $50,000, and fixed manufacturing costs of $28,000 for the year. Assuming the company uses direct costing, the manufacturing margin for the

Q : Company-wide net income

A segment of a business reported a contribution margin of $36,000 and controllable fixed costs of $12,000. If the segment had been eliminated, the company-wide net income would have been:

Q : Excess of sales over the cost of goods sold

On an income statement prepared with a direct costing approach, the excess of sales over the cost of goods sold, based on variable costs only, is referred to as the:

Q : Prepare general journal entry to record the issuance of bond

Martin Corporation issued $3,000,000 of 8%, 20-year bonds payable at par value on January 1, 2010. The market rate of interest is 8% at the time of issuance. Prepare the general journal entry to record the issuance of the bonds on January 1, 2010.

Q : Reduction in retained earnings problem

How much of a reduction in retained earnings results when a 2-for-1 stock split is declared and issued?

Q : Interest and the amortization of premium on the bonds

Prepare the entry required on December 31, 2011, to record the payment of the first 6 months' interest and the amortization of premium on the bonds.

Q : Percentage-of-completion basis

Make the entry to recognize the profit that can be recognized to date, on a percentage-of-completion basis.

1948503

Questions
Asked

3,689

Active Tutors

1433824

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Excess of sales over the cost of goods sold

Reference No:- TGS062683

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Investment in the equipment financially attractive

Q : Equity changed-amount from the beginning of the year

Q : Direct costing-manufacturing margin

Q : Company-wide net income

Q : Excess of sales over the cost of goods sold

Q : Prepare general journal entry to record the issuance of bond

Q : Reduction in retained earnings problem

Q : Interest and the amortization of premium on the bonds

Q : Percentage-of-completion basis

General rule the of a virgin is tight and the rugosities are

What would be a measurable goal for fluid volume deficit

Appearance of the face is indicative of approaching death

Problem regarding attention-deficit/hyperactivity disorder

What nurse recommend to ensure clients nutritional status

History from an older adult patient in an outpatient clinic.

Problem about diagnosis of irritable bowel syndrome

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Excess of sales over the cost of goods sold

Reference No:- TGS062683

Recent Questions Asked Accounting Basics

Q : Investment in the equipment financially attractive

Q : Equity changed-amount from the beginning of the year

Q : Direct costing-manufacturing margin

Q : Company-wide net income

Q : Excess of sales over the cost of goods sold

Q : Prepare general journal entry to record the issuance of bond

Q : Reduction in retained earnings problem

Q : Interest and the amortization of premium on the bonds

Q : Percentage-of-completion basis

Asked Questions