What amount should have been reported as variable costs, Accounting Basics

+44 141 628 6080
[email protected]

What amount should have been reported as variable costs

During its most recent fiscal year, Simon Enterprises sold 310,000 electric screwdrivers at a price of $18.30 each. Fixed costs amounted to $961,000 and pretax income was $1,271,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year in question?

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount should have been reported as variable costs

Reference No:- TGS0688366

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : How much direct materials cost was incurred in producing

Finished goods inventory is $189,000. If overhead applied to these goods is $75,000, and the overhead rate is 120% of direct labor, how much direct materials cost was incurred in producing the inventory?

Q : The present value of the cash outflows

The Wisbley Company is contemplating the purchase of a helicopter for its executives to use in their business trips. This helicopter could be either purchased or leased from the manufacturer. The useful life of the helicopter is four years.

Q : Determine the total june sales are anticipated to be

A June sales forecast projects that 7,200 units are going to be sold at a price of $11.7 per unit. The desired ending inventory of units is 15% higher than the beginning inventory of 2,200 units.

Q : Allocated fixed costs are assigned based on relative sales

Computer Boutique sells computer equipment and home office furniture. Currently, the furniture product line takes up approximately 50% of the company's retail floor space.

Q : What amount should have been reported as variable costs

During its most recent fiscal year, Simon Enterprises sold 310,000 electric screwdrivers at a price of $18.30 each. Fixed costs amounted to $961,000 and pretax income was $1,271,000.

Q : What markup percentage is the company using

HN Inc. produces and sells 40,000 units of a single product, eye drops. Variable costs total $80,000 and fixed costs total $120,000. If each unit is sold for $8, what markup percentage is the company using?

Q : Sm press company is relevant to this decision

SM Press Company manufactures books. The company is trying to decide whether to print the individual pages in-house (the current practice) or have a printing company perform this task.The original price of the printing equipment owned by SM Press

Q : How much did voorhees pay in cash dividends

Voorhees Company has stockholders' equity of $395,900 and net income of $66,900. It has a payout ratio of 12% and a return on assets of 20%. How much did Voorhees pay in cash dividends, and what were its average total assets?

Q : How to drop the sporting goods department

A company is trying to decide whether to keep or drop the sporting goods department in its department store. If the segment is dropped, the sporting goods manager will be fired. The manager's salary, in relation to the decision to keep or drop the

1953641

Questions
Asked

3,689

Active Tutors

1417089

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: What amount should have been reported as variable costs

Reference No:- TGS0688366

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : How much direct materials cost was incurred in producing

Q : The present value of the cash outflows

Q : Determine the total june sales are anticipated to be

Q : Allocated fixed costs are assigned based on relative sales

Q : What amount should have been reported as variable costs

Q : What markup percentage is the company using

Q : Sm press company is relevant to this decision

Q : How much did voorhees pay in cash dividends

Q : How to drop the sporting goods department

How protein is an essential part of our health

Discuss about health information exchanges in the niles

Discuss education and care services national regulations

How to determine if there is a quality issue

What inter-professional involvement needs to be considered

Why should contraception be a reproductive right

Problem regarding childhood education and care services

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount should have been reported as variable costs

Reference No:- TGS0688366

Recent Questions Asked Accounting Basics

Q : How much direct materials cost was incurred in producing

Q : The present value of the cash outflows

Q : Determine the total june sales are anticipated to be

Q : Allocated fixed costs are assigned based on relative sales

Q : What amount should have been reported as variable costs

Q : What markup percentage is the company using

Q : Sm press company is relevant to this decision

Q : How much did voorhees pay in cash dividends

Q : How to drop the sporting goods department

Asked Questions