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Student Name: Instructor Class: McGraw-Hill/Irwin Problem 1-14A HOUSE OF ORGANS, INC.

Traditional Income Statement For the Month Ended November 30 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses: Advertising Delivery of organs Sales salaries & commissions Utilities Depreciation of sales facilities Total selling expenses Administrative expenses: Executive salaries Depreciation of office equipment Clerical Insurance Total administrative expenses Total selling and administrative expenses Net operating income $ 150,000 90,000 60,000

950 3,600 10,800 650 5,000 21,000 13,500 900 4,900 700 20,000 $ 41,000 19,000 Correct!

HOUSE OF ORGANS, INC. Contribution Format Income Statement For the Month Ended November 30 Total $150,000 $ 90,000 3,600 6,000 2,400 102,000 $ 48,000 Correct! $ 950 4,800 650 5,000 13,500 900 2,500 700 29,000 $ 19,000 Correct! $ Per organ $2,500 1,500 60 100 40 1,700 $ 800 Correct!

Sales Variable expenses: Cost of goods sold Delivery of organs Sales commissions Clerical Total variable expenses Contribution margin Fixed expenses: Advertising Sales salaries Utilities Depreciation of sales facilities Executive salaries Depreciation of office equipment Clerical Insurance Total fixed expenses Net operating income

Given Data P01-14A: HOUSE OF ORGANS, INC. Costs Selling: Advertising Delivery of organs Sales salaries and commissions Utilities Depreciation of sales facilities Administrative: Executive salaries Depreciation of office equipment Clerical Insurance Average sales price of organ Average cost of organ Organs sold & delivered in November Cost Formula $ $ $ $ $ $ $ $ $ $ $ 950 60 4,800 650 5,000 13,500 900 2,500 700 2,500 1,500 60 per month per organ sold per month plus per month per month per month per month per month plus per month

4% of sales

$40 per organ sold

Student Name: Instructor Class: McGraw-Hill/Irwin Problem 1-18A FRANKEL LTD. Analysis of Expenses Cost of goods sold Shipping expense Advertising expense Salaries and commissions Insurance expense Depreciation expense Analysis of the mixed expenses: Units 4,500 3,000 1,500 Correct! Change in Cost 12,000 36,000 Shipping Expense 56,000 44,000 12,000 Correct! Change in Activity 1,500 1,500 Salaries & Comm. Exp. 143,000 107,000 36,000 Correct! Variable Rate 8 24 <--Correct! <--Correct! Variable Mixed Fixed Mixed Fixed Fixed

High level of activity Low level of activity Change

Variable cost element: Shipping expense Salaries and commission expense

Fixed cost element: Cost at high level of activity Less variable cost element

Shipping Expense 56,000 36,000 20,000 Correct!

Salaries & Comm. Exp. 143,000 108,000 35,000 Correct!

The cost formulas are: Shipping expense Salaries and commission expense

Y=20,000+8X Y=35,000+24X

FRANKEL LTD. Income Statement For the Month Ended June 30 Sales in units Sales revenue Variable expenses: Cost of goods sold Shipping expense Salaries & comm. expense Contribution margin Fixed expenses: Shipping expense Advertising expense Salaries and commissions exp. Insurance expense Depreciation expense Net operating income 4,500 630,000

252,000 36,000 108,000

396,000 234,000

20,000 70,000 35,000 9,000 42,000

176,000 58,000 Correct!

Given Data P01-18A: FRANKEL LTD. Comparative Income Statements For the Three Months Ended June 30 April 3,000 420,000 168,000 252,000 44,000 70,000 107,000 9,000 42,000 272,000 20,000 May 3,750 525,000 210,000 315,000 50,000 70,000 125,000 9,000 42,000 296,000 19,000 June 4,500 630,000 252,000 378,000 56,000 70,000 143,000 9,000 42,000 320,000 58,000

Sales in units Sales revenue Cost of goods sold Gross margin Selling and administrative expenses: Shipping expense Advertising expense Salaries and commissions Insurance expense Depreciation expense Total selling and administrative expenses: Net operating income (loss)

Student Name: Instructor Class: McGraw-Hill/Irwin Problem 1-22A ALDEN COMPANY Expenses Units Sold (X) (000) 16,000 18,000 23,000 19,000 17,000 20,000 25,000 22,000 160,000 Shipping (Y) Expense $ 160,000 175,000 217,000 180,000 170,000 185,000 232,000 208,000 $ 1,527,000

Quarter Year 1-1st 2nd 3rd 4th Year 2-1st 2nd 3rd 4th Totals

High activity level Low activity level Change

Units Sold 25,000 16,000 9,000 Correct!

Shipping Expense $ 232,000 160,000 $ 72,000 Correct! $ Correct! 8

Variable cost per unit Fixed cost element: Total shipping expense at high activity level Less variable element Fixed cost element Cost formula: Y=$32,000+$8X

$ $

232,000 200,000 32,000

<--Correct! <--Correct! <--Correct!

ALDEN COMPANY Budgeted Contribution Format Income Statement For the First Quarter, Year 3 Sales Variable expenses: Cost of goods sold Shipping expense Sales commission Total variable expenses Contribution margin Fixed expenses: Shipping expense Advertising expense Administrative salaries Depreciation expense Total fixed expenses Net operating income $ 1,050,000 $ 420,000 168,000 52,500 640,500 409,500 32,000 170,000 80,000 50,000 $ 332,000 77,500 Correct!

Given Data P01-22A: ALDEN COMPANY Cost formulas: Cost Cost of goods sold Advertising expense Sales commissions Administrative salaries Shipping expense Depreciation expense Units sold and related shipping expenses: Quarter Year 1: First Second Third Fourth Year 2: First Second Third Fourth Sales forecast for 1st Quarter, Year 3: Units Price per unit Units Sold 16,000 18,000 23,000 19,000 17,000 20,000 25,000 22,000 $ $ $ $ $ $ $ $ Shipping Expense 160,000 175,000 217,000 180,000 170,000 185,000 232,000 208,000 Cost Formula 20 per unit sold 170,000 per quarter 5% of sales 80,000 per quarter ? 50,000 per quarter

$ $ $ $

21,000 50

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