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QUESTION 5 Preparing a Contribution Format Income Statement
QUESTION 5
Preparing a Contribution Format Income Statement. (LO – 3-1) Wheeler Corporation’s most recent income statement follows.
|
Total Per Unit |
||
|
Sales (8,000 units) |
$208,000 |
$26.00 |
|
Variable expenses |
$144,000 |
18.00 |
|
Contribution margin |
$64,000 |
$8.00 |
|
Fixed expenses |
$56,000 |
|
|
Net Operating income |
$8,000 |
|
Required:
Prepare a new Contribution format income statement under each of the following conditions (consider each case independently):
1. The sales volume increases by 50 units
2. The sales volume declines by 50 units.
3. The sales volume is 7,000 units.
|
|
10 points
QUESTION 6
Computing Job Costs (LO – 4-3)
Weaver Company’s predetermined overhead rate is $18.00 per direct labor-hour and its direct labor wage rate is $12.00 per hour. The following information pertains to Job A-200.
|
Direct Materials ………………………………. $200 |
Required:
1. What is the total manufacturing cost assigned to Job a-200?
2. If Job A-200 consists of 50 units, what is the average cost assigned to each unit included in the job?
Expert Solution
PFA
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