Business, 24.06.2021 23:20, ksawyer745
The following costs result from the production and sale of 4,850 drum sets manufactured by Tight Drums Company for the year ended December 31, 2019. The drum sets sell for $335 each. The company has a 30% income tax rate. Variable production costs Plastic for casing $ 164,900 Wages of assembly workers 480,150 Drum stands 208,550 Variable selling costs Sales commissions 155,200 Fixed manufacturing costs Taxes on factory 6,500 Factory maintenance 13,000 Factory machinery depreciation 73,000 Fixed selling and administrative costs Lease of equipment for sales staff 13,000 Accounting staff salaries 63,000 Administrative management salaries 143,000 Required: 1. Prepare a contribution margin income statement for the year. 2. Compute its contribution margin per unit and its contribution margin ratio. 3. For each dollar of sales, how much is left to cover fixed costs and contribute to operating income
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The following costs result from the production and sale of 4,850 drum sets manufactured by Tight Dru...
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