Contribution format income statement

Assignment Help Other Management
Reference no: EM1319786

Brown Corporation, a merchandising company, reported sales of 7,400 units for May at a selling price of $677 per unit. The cost of goods sold (all variable) was $441 per unit and the variable selling expense was $54 per unit. The total fixed selling expense was $155,600. The variable administrative expense was $24 per unit and the total fixed administrative expense was $370,400.

Required:

a. Prepare a contribution format income statement for May.

b. Prepare a traditional format income statement for May.

Reference no: EM1319786

Questions Cloud

Decision-making problems under uncertainty : What techniques are used to solve decision-making problems under uncertainty? Which technique results in an optimistic decision? Which technique results in a pessimistic decision?
Potential difficulties in approaching strategic planning : What are some of the potential difficulties in approaching strategic planning from a balanced perspective? Isn't financial performance still the most important perspective to take in planning? Explain.
Prepare a financial plan for beauty care : You are having 300,000 dollars for investment in this business. Prepare a financial plan for the beauty care and how the funds can be used in various sections. And also mention all the areas in which the funds are used.
Several laws which are intended to further fair : Prepare a three-page paper in APA style that describes, explains, addresses, and answers the following. The United States has several laws that are intended to further fair
Contribution format income statement : Brown Corporation, a merchandising company, reported sales of 7,400 units for May at a selling price of $677 per unit. Prepare a contribution format income statement for May.
Strategies or practices in planning and composing : Discuss three strategies or practices which you feel are most important in planning, composing, and revising professional documents.
Control procedure which prevente or detecte fraud : Assume that Yvonne Dauphin, accounts payable clerk for Bedell Inc. Describe a control procedure that would have prevented or detected the fraud.
Difference between ethics and morality in medicine : Ethics and morality are related concepts in healthcare, but they are not the same thing. Explain the difference between ethics and morality in medicine. Provide at least one example for each concept.
Employment contract for large sum of money : Meeks is offered an employment contract for a large sum of money. He wishes to accept, but this would render him unable to complete the aforementioned contracts. Meeks delegates the painting of the portrait to his friend Bob, an impressionist.

Reviews

Write a Review

 

Other Management Questions & Answers

  Difference between single sourcing and multiple sourcing

Difference between single sourcing and multiple sourcing

  Explain in detail impact of containerization

Explain in detail impact of containerization

  Operations strategy and competitive priorities

How has operations strategy and competitive priorities evolved in the automobile industry during the last 100 years?

  Show the importance of proper storage methods

Show the importance of proper storage methods and procedures during Production, Receiving, Service.

  Disclosure requirements for executive compensation

Identify and explain the disclosure requirements for executive compensation as established by the Securities and Exchange Commission (SEC).

  Risk aversion-risk-free investments

Risk aversion implies only risk-free investments will be undertaken by corporate managers. Critically evaluate this statement What is the distinction between nominal and real interest rates

  Eco-marketing in outdoor recreation

sustainable outdoor recreation experiences, satisfaction of both tourists and locals

  Critically examine the benefits and limitations of erm

Describe briefly your understanding of Enterprise Risk Management [ERM] and Critically examine the benefits and limitations of ERM, Using diagrams, discuss your understanding of a risk continuum and the elements critical in ERM

  How much will be paid to purchase the contracts

How many call option contracts must be purchased by ABC in order to hedge against the currency risk of the payment of DM 625,000 on the 21st September 2010? How much will be paid to purchase the contracts?

  Essay on critical thinking and its importance

The essay about critical thinking and its importance.

  Case study of sarah manchester

Sarah Manchester works for a cable TV company in a large city. She consults with architects and builders who want advice about planning for a home theater set-up before a home is built and wired.

  Three branches of government

Examine the three (3) branches of government and discuss which can effectuate the most significant impact on regulating consumer transactions via social media outlets. Support your decision.

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!

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