Case Assignment 2 Principles of Accounting

Case Assignment 2 Principles of Accounting - TUI UNIVERSITY...

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TUI UNIVERSITY Dean J. Keveles Module 2 Case Assignment ACC403 Principles of Accounting Dr. Eugene J. Nesbitt May 1, 2011
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Below are income statements prepared using information from the E-Company for year ending December 31, 2011: Product Information: Units Produced 400,000 Units Sold 355,000 Selling Price per Unit $29.00 Direct Material Cost per Unit $3.50 Direct Labor Cost per Unit $1.40 Variable Selling Costs per Unit $1.20 Fixed Manufacturing Costs $1,600,000 Fixed Selling & Administrative Costs $1,200,000 Absorption (GAAP) Income Revenues (Sales) $10,295,000 Cost of Goods Sold (Cost of Sales) 3,159,500 Gross Profit (Gross Margin) $7,135,500 1,626,000 Operating Income $5,509,500 Contribution Margin Income Statement Revenues (Sales) $10,295,000 Variable Costs: Direct Material 1,242,500.00 Direct Labor Cost 497,000.00 Variable Selling Expenses 426,000.00 Total Variable Costs $2,165,500 Contribution Margin 8,129,500 Fixed Costs 2,800,000 Operating Income
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This note was uploaded on 10/10/2011 for the course FINANCE ACC403 taught by Professor Dr.eugenej.nesbitt during the Winter '11 term at Trident Technical College.

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Case Assignment 2 Principles of Accounting - TUI UNIVERSITY...

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