Question: hello, can someone please please help me with this management accounting question i would really appreciate it all the information is provided below i need

hello, can someone please please help me with this management accounting question i would really appreciate it all the information is provided below i need this as soon as possible as im struggling. thank you again

hello, can someone please please help me with this management accounting questioni would really appreciate it all the information is provided below i

Western's accountant, Ms. Lasso, studied the costs in detail, particularly focusing on cost behaviour. Her analysis revealed the following: Fixed portion of the cost of goods sold for the quarter amounted to $1,214,000. . Of the selling expenses, 20% was variable with respect to the number of units. All of the administrative expenses were fixed. Required: 1. Express the cost of goods sold and the selling expenses in terms of cost equations. (Round the "Variable cost" to 2 decimal places.) Y = X Cost of goods sold Selling expenses per quarter per quarter Y = X 2. Redo the above income statement using a contribution margin approach. (Do not round Intermediate calculations.) WESTERN COWBOYS INC. Income Statement For the First Quarter of this Year Less: Variable costs Less: Fixed expenses Western Cowboys Inc. prepared the following report for the first quarter of this year: $7,280,000 3,242,000 4,038,000 Sales (@ $2,900 per unit) Less: Cost of goods sold Gross margin Less : Selling expenses Administrative expenses Income $1,047,800 1,050,000 2,097,800 $1,940,200 Western's accountant, Ms. Lasso, studied the costs in detail, particularly focusing on cost behaviour. Her analysis revealed the following: Fixed portion of the cost of goods sold for the quarter amounted to $1,214,000. . Of the selling expenses, 20% was variable with respect to the number of units. All of the administrative expenses were fixed. Required: 1. Express the cost of goods sold and the selling expenses in terms of cost equations. (Round the "Variable cost" to 2 decimal places.) Y = Cost of goods sold Selling expenses per quarter per quarter Y = X 2. Redo the above income statement using a contribution margin approach. (Do not round Intermediate calculations.) WESTERN COWBOYS INC. Income Statement For the First Quarter of this Year Less: Variable costs Less: Fixed expenses

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!