Variable Cost, Fixed Cost, Contribution Margin Income Statement

Head$-$First Company plans to sell $5,400$ bicycle helmets at $$83$ each in the coming year. Product costs include:

Direct materials per helmet

$$33\mathrm{.}00$

Direct labor per helmet

$7\mathrm{.}00$

Variable factory overhead per helmet

$4\mathrm{.}00$

Total fixed factory overhead

$20,000$

Variable selling expense is a commission of $$2\mathrm{.}90$ per helmet; fixed selling and administrative expense totals $$29,300.$

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions belo

Open spreadsheet

Required:

Calculate the total variable cost per unit. Round your answers to the nearest cent.

$

Calculate the total fixed expense for the year.

$

Prepare a contribution margin income statement for Head$-$First Company for the coming year. Round your per unit answers to the nearest cent. Variable Cost, Fixed Cost, Contribution Margin Income Statement

Head$-$First Company plans to sell $5,400$ bicycle helmets at $\backslash (\backslash$$ $83\backslash )$ each in the coming year. Product costs include:

Direct materials per helmet

$\backslash$$$33\mathrm{.}00$

Direct labor per helmet

$7\mathrm{.}00$

Variable factory overhead per helmet

$4\mathrm{.}00$

Total fixed factory overhead

$20,000$

Variable selling expense is a commission of $\backslash (\backslash$$ $2\mathrm{.}90\backslash )$ per helmet; fixed selling and administrative expense totals $\backslash$$$29,300.$

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions belo

Open spreadsheet

Required:

$1.$ Calculate the total variable cost per unit. Round your answers to the nearest cent.

$\backslash$$

$2.$ Calculate the total fixed expense for the year.

$\backslash$$

$3.$ Prepare a contribution margin income statement for Head$-$First Company for the coming year. Round your per unit answers to the nearest cent. Open spreadsheet

Required:

$1.$ Calculate the total variable cost per unit. Round your answers to the nearest cent.

$\backslash$$

$2.$ Calculate the total fixed expense for the year.

q

$3.$ Prepare a contribution margin income statement for Head$-$First Company for the coming year. Round your per unit answers to the nearest cent.

Head$-$First Company

Contribution Margin Income Statement

For the Coming Year

Variable Cost, Fixed Cost, Contribution Margin Ir come Statement

$2$ The following data about Head$-$First Company is provided:

$4$ DATA

Number of bicycle helmets to sell

Cost of each bicycle helmets

REQUIRED:

$17$ Calculate the total variable cost per unit.

Type in the item descriptions and use formulas and cell references from the problem data to enter amounts. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWv$2$ for grading.

$19$

Variable selling expense per helmet

Fixed selling and administrative expense totals

$15$

$16$

$18$

Direct materials per helmet

$9$ Direct labor per helmet

Variable factory overhead per helmet

Total fixed factory overhead

$12$

$13$

$14$

$($

Total variable cost per unit

Formulas

$21$

$22$ REQUIRED:

$23$ Calculate the total fixed expense for the year.

$24$