Business, 09.04.2021 02:00 ayoismeisalex

Contribution Income Statement and Cost-Volume-Profit Graph Picnic Time produces a picnic basket that is sold for $100 per unit. Assume the company produced and sold 4,000 baskets during July. There were no beginning or ending inventories. Variable and fixed costs follow. Variable Costs per Unit Fixed Costs per Month Manufacturing: Manufacturing overhead $36,000 Direct materials $25 Selling and administrative 68,000 Direct labor 15 Total $104,000 Manufacturing overhead 5 $45 Selling and administrative 4 Total $49 Required
Prepare a contribution income statement for July.
Do not use any negative signs with your answers.
Picnic Time
Contribution Income Statement
For the Month of July
Sales Answer
Less variable costs
Direct materialsAnswer
Direct laborAnswer
Manufacturing overheadAnswer
Selling and
Contribution margin Answer
Less fixed cost:
Manufacturing overheadAnswer
Selling and
Profit Answer

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 03:20, nakeytrag

The treasurer for pittsburgh iron works wishes to use financial futures to hedge her interest rate exposure. she will sell five treasury futures contracts at $139,000 per contract. it is july and the contracts must be closed out in december of this year. long-term interest rates are currently 7.30 percent. if they increase to 9.50 percent, assume the value of the contracts will go down by 20 percent. also if interest rates do increase by 2.2 percent, assume the firm will have additional interest expense on its business loans and other commitments of $149,000. this expense, of course, will be separate from the futures contracts. a. what will be the profit or loss on the futures contract if interest rates increase to 9.50 percent by december when the contract is closed out

Answers: 1

continue

Business, 22.06.2019 03:30, Emptypockets451

Joe said “your speech was really great, i loved it.” his criticism lacks which component of effective feedback? a) he did not recognize his ethical obligations b) he did not focus on behavior c) he did not stress the positive d) he did not offer any specifics

Answers: 2

continue

Business, 22.06.2019 09:40, leomessifanboy678

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?

Answers: 3

continue

Business, 22.06.2019 17:30, katy9091

Danielle enjoys working as a certified public accountant (cpa) and assisting small businesses and individuals with managing their finances and taxes. which general area of accounting is her specialty? danielle specialized in

Answers: 1

continue

You know the right answer?

Contribution Income Statement and Cost-Volume-Profit Graph Picnic Time produces a picnic basket that...