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(Solved) 1. value: 10 points The following costs result from the production and sale of 4,050 drum sets...


1. value: 10 points The following costs result from the production and sale of 4,050 drum sets manufactured by Vince Drum Company for the year ended December 31, 2011. The drum sets sell for $255 each. The company has a 30% income tax rate. Variable production costs Plastic for casing Wages of assembly workers Drum stands Variable selling costs Sales commissions Fixed manufacturing costs Taxes on factory Factory maintenance Factory machinery depreciation Fixed selling and administrative costs Lease of equipment for sales staff Accounting staff salaries Administrati ve management salaries Required: $ 72,900 336,150 109,350 64,800 10,500 21,000 81,000 21,000 71,000 151,000 1. Prepare a contribution margin income statement for the company. (Input all amounts as positive values. Omit the "$" sign in your response.) VINCE DRUM COMPANY Contribution Margin Income Statement For Year Ended December 31, 2011 (4,050 units) $ Variable costs $ Fixed costs $ 2.1 Compute its contribution margin per unit. (Input all amounts as positive values. Omit the "$" sign in your response.) VINCE DRUM COMPANY Contribution Margin Income Statement For Year Ended December 31, 2011 Per unit $ Variable costs $ $ 2.2 Compute its contribution margin ratio. (Round your intermediate and final answer to 2 decimal places. Omit the "%" sign in your response.) Contribution margin ratio % Document Preview: 1. value: 10 points   The following costs result from the production and sale of 4,050 drum sets manufactured by Vince Drum Company for the year ended December 31, 2011. The drum sets sell for $255 each. The company has a 30% income tax rate.        Variable production costs      Plastic for casing $ 72,900    Wages of assembly workers   336,150    Drum stands   109,350    Variable selling costs      Sales commissions   64,800    Fixed manufacturing costs      Taxes on factory    10,500    Factory maintenance   21,000    Factory machinery depreciation   81,000    Fixed selling and administrative costs      Lease of equipment for sales staff   21,000    Accounting staff salaries   71,000    Administrative management salaries   151,000   Required: 1. Prepare a contribution margin income statement for the company. (Input all amounts as positive values. Omit the "$" sign in your response.) VINCE DRUM COMPANY Contribution Margin Income Statement For Year Ended December 31, 2011   (4,050 units)     $    Variable costs       $                                Fixed costs                                                               $       2.1 Compute its contribution margin per unit. (Input all amounts as positive values. Omit the "$" sign in your response.) VINCE DRUM COMPANY Contribution Margin Income Statement For Year Ended December 31, 2011   Per unit     $    Variable costs       $                             $       2.2 Compute its contribution margin ratio. (Round your intermediate and final answer to 2 decimal places. Omit the "%" sign in your response.)  Contribution margin ratio %

 


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