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Question
Abington Corporation provides the following data from a recent period for its manufacture of shoes: variable manufacturing costs, $24,000; variable selling costs, $12,000; and total fixed costs, $40,000. Sales were $60,000 based on 12,000 units sold during the period. Calculate the contribution margin and the contribution margin ratio.
Answer
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Related questions
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What are the four steps in the effective management of variance analysis?
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When recording the journal entry for labor, the Goods in Process Inventory account is
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E. Not used.
Q:
Adams, Inc. uses the following standard to produce a single unit of its product: overhead (2 hrs. @ $3/hr.) $ 6. The flexible budget for overhead is $100,000 plus $1 per direct labor hour. Actual data for the month show overhead costs of $150,000, and 24,000 units produced. The overhead volume variance is:
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Q:
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Q:
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Q:
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Q:
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Q:
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Q:
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Product B Sales............................................................
$80,000
$96,000 Direct materials............................................................
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6,000 Direct labor............................................................
30,000
45,000 Other cash operating expenses............................................................
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(400,000)
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A standard that takes into account the reality that some loss usually occurs with any process under normal application of the process is known as a _______________ standard.
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Companies promoting continuous improvement strive to achieve _____________ standards by eliminating inefficiencies and waste.
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Q:
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