E5-17 (Algo) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5)Riverside Incorporated makes one model of wooden canoe. Partial information for it follows:Number of Canoes Produced and SoldTotal costsVariable costsFixed costsTotal costsCost per unitVariable cost per unitFixed cost per unitTotal cost per unitRequired 1 Required 3Variable costsFixed costs515$ 72,615149,300$ 221,915Number of Canoes Produced and SoldTotal costsTotal costsCost per unitVariable cost per unitFixed cost per unitRequired:1. Complete the table.3. Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin ratio.4. Next year Riverside expects to sell 865 canoes. Complete the contribution margin income statement for the company.Required 4Total cost per unit77Complete the table.Note: Round your cost per unit answers to 2 decimal places.$$665$751572,615149,300221,915 $8150.00 $777< Required 177665149,300149,300 $0.00 $815149.300149,3000.00Required 3> Complete this question by entering your answers in the tabs below.Required 1 Required 3Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution marginratio.Note: Round your contribution margin to the nearest whole dollar and your contribution margin ratio to the nearest wholepercent.Unit contribution marginContribution margin ratioRequired 4Contribution marginper canceNet operating income< Required 1Required 1 Required 3 Required 4Next year Riverside expects to sell 865 canoes. Complete the contribution margin income statement for the company.Note: Round your Contribution margin to 2 decimal places.RIVERSIDE INCORPORATEDContribution Margin Income Statement+For the Next YearRequired 4 >< Required 3Required 4 >

Variable costs are costs that varies with the number of units sold or produced. Fixed costs are…

E5-17 (Algo) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5] Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 515 $ 72,615 149,300 $ 221,915 665 7 7 ? 7 815 7 7 7 7 7 Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 865 canoes. Complete the contribution margin income statement for the company

E5-17 (Algo) Determining Cost Behavior, Preparing Contribution Margin Income Statement [LO 5-1, 5-5] Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 515 $ 72,615 149,300 $ 221,915 665 7 7 ? 7 815 7 7 7 7 7 Required: 1. Complete the table. 3. Suppose Riverside sells its canoes for $505 each. Calculate the contribution margin per canoe and the contribution margin ratio. 4. Next year Riverside expects to sell 865 canoes. Complete the contribution margin income statement for the company

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11.2E: Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each...

See similar textbooks

Similar questions

Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases. a. Direct material cost per unit. b. Fees for using a patent of $500,000 plus $0.25 for each unit produced. c. Salary of quality control supervisor. d. Straight-line depreciation per unit on factory equipment. e. Total direct materials cost.
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement (LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 51,000 to 91,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 81,000 units during the year at a selling price of $9.09 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Units Produced and Sold 71,000 Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost Fixed cost Total cost per unit S S $1,000…
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 55,000 to 95,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 85,000 units during the year at a selling price of $8.90 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit $ $ 55,000 Units Produced and Sold 75,000…
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Units Produced Total Costs 1 0 $ 2,900 2 460 3,774 3 860 4,534 4 1,260 5,294 5 1,660 6,054 6 2,060 6,814 7 2,460 7,574 8 2,860 8,334 9 3,260 9,094 10 3,660 9,854 Exercise 21-6A (Algo) Appendix: Measuring costs using regression LO P1 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. Cost equation = + per unit
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 70,000 to 110,000 units is given below: ces Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 100,000 units during the year at a selling price of $8.80 per unit. Prepare a contribution format income statement for the year. Mc Graw Hill showers Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit 70,000 Units…
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 53,000 to 93,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 83,000 units during the year at a selling price of $9.86 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) 53,000 Units Produced and Sold 73,000 Units Produced and Sold 93,000 Units Produced and Sold Total cost: Variable cost $ 143,100 Fixed cost 450,000…
Help Save & Exit Submit TB MC Qu. 7-52 (Algo) Eccles Corporation uses an activity-based costing... Eccles Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs and its activity based costing system: Costs: Wages and salaries Depreciation Utilities $ 318,000 247,000 206,000 $ 771,000 Total Distribution of resource consumption: Activity Cost Pools Setting Up Assembly Other Total Wages and salaries Depreciation Utilities 30% 10% 45% 25% 100% 30% 20% 60% 100% 50% 30% 100% How much cost, in total, would be allocated in the first-stage allocation to the Assembly activity cost pool? Multiple Choice, hp
XYZ Inc. manufactures a component D12, and two main products F45 and P67. The following details relate to each of these items: D12 D45 P67 Selling price ? 146 159 Material cost 10 15 26 Component D12 (bought-in price) ? 25 25 Direct labour 5 10 15 Variable overheads 6 12 18 Total variable cost per unit 21 62 84 Fixed overhead costs: P per annum P per annum P per annum Avoidable* 9,000.00 18,000.00 40,000.00 Non-avoidable 36,000.00 72,000.00 160,000.00 Total 45,000.00 90,000.00 200,000.00 * The avoidable fixed costs are product-specific fixed costs that would be avoided if the product or component were to be discontinued. 1. Assuming that the annual demand for component D12 is 5,000 units and that XYZ Inc. has sufficient capacity to make the component itself, the maximum price that should be paid to an external supplier for 5,000 components per year is 2. Assuming that component D12 is bought from an external supplier for P25.00 per unit, the number of units…
Exercise 1-11 (Algo) Cost Behavior; Contribution Format Income Statement [LO1-4, LO1-6] Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 67,000 to 107,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume the company produces and sells 97,000 units during the year at a selling price of $8.83 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. Note: Round the per unit variable cost and fixed cost to 2 decimal places. Total cost: Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit $ $ $ 67,000 Units Produced and Sold 87,000…
Evaluating Selected Cost Driver Assume that a manufacturer of specialized machine parts developed the following total cost estimating equation for manufacturing costs. Y = $14,400 + $1,250 (actual units) a. What is total estimated manufacturing costs if 180 units are produced? $Answer 0
ezto.mheducation.com apter 14) G Saved Help Save & E: Chec Duo Company manufactures two products, Uno and Dos. Contribution margin data follow. Dos $38.00 Uno Unit sales Less variable cost: $14.00 Direct material $ 5.00 $ 5.00 Direct labor Variable overhead 1.00 5.00 1.10 7.50 Variable selling and administrative cost Total variable cost .90 .50 $ 8.00 $ 6.00 $18.00 Unit contribution margin $20.00 Duo company's production process uses highly skilled labor, which is in short supply. The same employees work on both products and earn the same wage rate. Required: 1. Calculate the.contribution margin per scarce resource for each of the products assuming an arbitrary time period for which direct laborers earn $1.00 per unit. 2. Which of Duo Company's products is most profitable? Complete this question by entering your answers in the tabs below. Required 1 Required 2 < Prev 6 of 6 Next
Requirea information The Foundational 15 (Algo) [LO1-1, LO1-2, LO1-3, LO1-4, LO1-5, LO1-6] [The following information applies to the questions displayed below.] Martinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions. Variable administrative expense Foundational 1-9 (Algo) Average Cost per Unit $6.60 $4.10 $1.50 $ 4.00 $ 3.60 $ 2.00 $1.00 $0.50 9. If 8,000 units are produced, what is the total amount of fixed manufacturing cost incurred to support this level of production? Total fixed manufacturing cost