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b. Prepare a traditional format income statement for May. 167.Donmoyer Sales Corporation, a merchandising company, reported total sales of $2,230,200 for May. The cost of goods sold (all variable) was $1,518,300, the total variable selling expense was $214,200, the total fixed selling expense was $86,700, the total variable administrative expense was $119,700, and the total fixed administrative expense was $138,400. Required: a. Prepare a contribution format income statement for May. b. Prepare a traditional format income statement for May. 168.Pittman Corporation, a merchandising company, reported the following results for September: Required: a. Prepare a traditional format income statement for September. b. Prepare a contribution format income statement for September. 169.Honey Corporation, a merchandising company, reported the following results for January: Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for January. b. Prepare a contribution format income statement for January. 170.A number of costs are listed below. Required: For each item above, indicate whether the cost is direct or indirect with respect to the cost object listed next to it. ch02 Key 1. TRUE 2. TRUE 3. FALSE 4. FALSE 5. FALSE 6. TRUE 7. FALSE 8. FALSE 9. FALSE 10. TRUE 11. TRUE 12. TRUE 13. FALSE 14. FALSE 15. FALSE 16. TRUE 17. TRUE 18. FALSE 19. TRUE 20. TRUE 21. FALSE 22. TRUE 23. FALSE 24. TRUE 25. FALSE 26. FALSE 27. FALSE 28. TRUE 29. TRUE 30. C 31. A 32. C 33. C 34. A 35. A 36. D 37. B 38. C 39. B 40. D 41. D 42. B 43. B 44. D 45. B 46. A 47. C 48. B 49. D 50. C 51. B 52. C 53. A 54. C 55. B 56. A 57. C 58. B 59. A 60. D 61. D 62. B 63. A 64. B 65. D 66. C 67. A 68. B 69. B 70. B 71. D 72. C 73. C 74. C 75. C 76. D 77. C 78. B 79. C 80. B 81. A 82. D 83. C 84. C 85. D 86. D 87. B 88. C 89. C 90. B 91. B 92. C 93. D 94. D 95. B 96. A 97. A 98. A 99. D 100. D 101. C 102. B 103. A 104. C 105. A 106. D 107. A 108. C 109. A 110. C 111. C 112. D 113. B 114. B 115. C 116. A 117. C 118. A 119. D 120. B 121. D 122. C 123. D 124. A 125. D 126. C 127. A 128. D 129. B 130. B 131. D 132. A 133. C 134. B 135. D 136. B 137. B 138. D 139. D 140. A 141. B 142. D 143. D 144. C 145. D 146. A 147. B 148. C 149. A 150. B 151. A 152. A 153. * We suggest you allow either answer (a blank or an X) in this cell. Some would consider an opportunity cost to be a differential cost and others would not. It is all a matter of definition and the definitions given in the text do not really cover this contingency. 154. b. Period costs consist of all costs other than product costs: 155. a. Product costs consist of direct materials, direct labor, and manufacturing overhead: b. Period costs consist of all costs other than product costs: 156. a. Product costs consist of direct materials, direct labor, and manufacturing overhead: Note: The total fixed cost is 48,000 units $4.50 per unit = $216,000.... View Full Document

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