Vulcan Company’s contribution format income statement for June is as follows: Vulcan Company Income Statement For the Month Ended June 30 Sales $ 750,000 Variable expenses 336,000 Contribution margin 414,000 Fixed expenses 378,000 Net operating income $ 36,000 Management is disappointed with the company’s performance and is wondering what can be done to ...
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Exercise 14-4 Knight Company reports the following costs and expenses in May. Factory utilities $ 16,200 Repairs to office equipment 2,300 Direct Labor $ 69,800 Indirect materials 82,900 Depreciation on factory equipment 13,350 Factory repairs 2,910 Sales salaries 48,100 Direct materials used 138,700 Depreciation on delivery trucks 4,900 Advertising 16,300 Property taxes on factory building 3,500 Factory manager’s salary 8,900 Indirect factory labor 49,600 Office supplies ...
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Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $ 72,000 Accounts receivable increase $ 6,000 Expenses Inventory decrease 3,000 Cost of goods sold 40,000 Salaries payable increase 1,000 Salaries expense 10,000 Depreciation expense 7,000 Net income $ 15,000 Prepare the operating activities section of the statement of cash flows for ...
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11. The budgets of four companies yield the following information: (Click the icon to view the budget information for the four companies.) Requirements 1. Fill in the blanks for each ...
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Data for Hermann Corporation are shown below: Per Unit Percent of Sales Selling price $ 80 100% Variable expenses 52 65 Contribution margin $ 28 35% Fixed expenses are $76,000 per month and the company is selling 4.600 units per month. 2-a. Refer to the ...