Dannys fish camp has sales of 1500000 for the first quarter
Course:- Accounting Basics
Reference No.:- EM13601438

Assignment Help >> Accounting Basics

Danny's Fish Camp has sales of $1,500,000 for the first quarter of 2010. In making the sales, the company incurred the following costs and expenses.

  • Variable Fixed
  • Product Costs $400,000 $550,000
  • Selling expenses $100,000 $75,000
  • Administrative expenses $80,000 $67,000

Instructions: Calculate net income under CVP for 2010.

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
State the major components of a safety and health plan, describe each component, and discuss how you would structure each component of the plan on a construction site that y
A small stock dividend was declared and issued in 2012. The market value of the shares was $8,800. Cash dividends were $20,000 in both 2012 and 2011. The common stock has no p
Cincinnati Million, Inc. operates two user divisions as separate cost objects. To determine the costs of each division, the company allocates common costs to the divisions.
The building cost $600,000 on December 29, 1999, and has been depreciated on a straight-line basis assuming a useful life of 40 years and a salvage value of $100,000. Declin
Jeremiah and Megan had the following as income and expenses during the year: What is Jeremiah and Means gross income before adjustments?
Net present value-Independent projects. Using a 14% cost of capital, calculate the net present value for each of the independent projects shown in the following table, and ind
1. Identify the differences between accrual accounting and cash basis accounting. 2. How is the profit margin calculated? Discuss its use in analyzing a company's performance.
Which of the following is not a benefit of budgeting? A) It ensures that accounting records comply with generally accepted accounting principles. B) It provides benchmarks for