70.2K

Verified Solution

Link Copied!

the blanks filled in answer are not correct. i would appreciate if anyone can solve this.

You have been provided the following information by Mehal and Rahul Emporium.

Sales	905,000
Direct Labour - Variable	125,000
Direct Labour - Fixed	150,000
Administration Staff - Wage Expense	40,000
Administration Staff - Salary Expense	50,000
Advertising Staff - Salary Expense	60,000
Advertising Staff - Wage Expense	50,000
Direct Material - Fixed	85,000
Direct Material - Variable	65,000
Manufacturing Overhead - Variable	25,000
Manufacturing Overhead - Fixed	20,000
Janitorial Staff - Wage Expense	35,000

REQUIRED:

Using this information, complete the two tables below. You are not required to list each individual accounts such as Administration Staff - Wage Expense or Direct Labour - Fixed. Select the name of the total line such as Fixed Costs or Variable Costs and the dollar amount opposite it.

Table A is the Income Statement prepared using the Gross Margin Format

Table B is the Income Statement prepared using the Contribution Margin Format

You have been provided the following information by Mehal and Rahul Emporium. Sales 905,000 Direct Labour - Variable 125,000 Direct Labour - Fixed 150,000 Administration Staff - Wage Expense 40,000 Administration Staff - Salary Expense 50,000 60,000 Advertising Staff - Salary Expense Advertising Staff - Wage Expense 50,000 Direct Material - Fixed 85,000 Answer: TABLE A INCOME STATEMENT USING THE GROSS MARGIN FORMAT > SALES NET INCOME TABLE B INCOME STATEMENT USING THE CONTRIBUTION MARGIN FORMAT one sol Remaining Time: 1 hour, 09 minutes, 44 seconds Question completion Status Direct Material - Variable Manufacturing Overhead Variable Manufacturing Overhead - Fixed Janitorial Staff - Wage Expense 65,000 25,000 20,000 35,000 REQUIRED Using this to complete the two tables tow You are not required to their counts whes Admin Wago Experter Director. Fuad Seed the name of the total in such as Fixed Costs or Virable Conds and the dollar amount oops Table is the income Statement prepared using the Gross Magen Format Table is the income Stement pred using the contribution Margin Format Show ad IMG1666jpg IMG_1665.jpg 10C AO ENG 6PM 4/20/2022 Tuna horn in searh no subject) - nehal... Remaining Time: 1 hour, 09 minutes, 35 seconds. * Question Completion Status: TCT TCUIVIC ZUUUUU TABLE B INCOME STATEMENT USING THE CONTRIBUTION MARGIN FORMAT SALES 905,000 > Total Variable Costs 215,000 265,000 > NET INCOME 435.000 A Moving to another question will save this response. 1G_1666.jpg IMG_1665.jpg LO Type here to search O BI TABLE A INCOME STATEMENT USING THE GROSS MARGIN FORMAT SALES NET INCOME > TABLE DINCOME A. TABLE B INCOME STATEMENT USING THE CONTRIBUTION MARGIN FORMAT SALES 905,000 > Total Variable Costs 215,000 > > Contribution Margin V v 265,000 > NET INCOME 435,000

Answer & Explanation Solved by verified expert

See Answer