Question

Variable Costing Leone Company has the following information for July: Sales $670,000 Variable cost of goods...

Variable Costing

Leone Company has the following information for July:

Sales $670,000

Variable cost of goods sold 301,500

Fixed manufacturing costs 100,500

Variable selling and administrative expenses 73,700

Fixed selling and administrative expenses 40,200

Determine the following for Leone Company for the month of July:

a. Manufacturing margin $__

b. Contribution margin $__

c. Income from operations $__

Business   Accounting   
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Answer #1

Calculate following :

Sales 670000
Less: Variable cost of goods sold (301500)
Manufacturing margin 368500
Less: Variable selling and administrative expenses (73700)
Contribution margin 294800
Less: Fixed expenses
Fixed manufacturing costs (100500)
Fixed selling and administrative expenses (40200) (140700)
Income from operations 154100

a. Manufacturing margin $368500

b. Contribution margin $294800

c. Income from operations $154100

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