Question: View previous atten During its most recent fiscal year, Raphael Enterprises sold 370,000 electric screwdrivers at a price of $20.10 each. Fixed costs amounted to

sold 370,000 electric screwdrivers at a price of $20.10 each. Fixed costs

View previous atten During its most recent fiscal year, Raphael Enterprises sold 370,000 electric screwdrivers at a price of $20.10 each. Fixed costs amounted to $1,369.000 and pretax income was $1,739,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year in question? Multiple Choice $3,108,000 $7437,000 $2,960,000 O $5,698,000 $3108,000. $3,108,000. $7,43700. $2,960,000. $5,698,000. $4,329,000

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!

di Colleget PowerPoint Your Chapter 21 ale:///C:/Users/Ihamer'.20Lambert/AppData/local/Packages/Microsoft MicrosoftEdge Swekyb3d8bbwe/TempState/Downloads/Chapter%2021%20 - + fit to page Page View A...

A cost with a flat cost line within a relevant range that shifts to another level when volume significantly changes is a(n): Multiple Choice Step-wise cost. Fixed cost. Curvilinear cost. Incremental...

During its most recent fiscal year, Raphael Enterprises sold 200,000 electric screwdrivers at a price of $15 each. Fixed costs amounted to $400,000 and income was $600,000. What amount should have...

Question 5 2 pts Use the cost information below for Ruiz Inc. to determine the total manufacturing costs incurred during the year: Work in Process, January 1 Work in Process, December 31 Direct...

18)Andrew Industries purchased $157,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $20,400, and the materials used to complete jobs...

1 . If budgeted beginning inventory is $9,100, budgeted ending inventory is $10,360, and budgeted cost of goods sold is $11,060, budgeted purchases should be: 2. Masterson Company's budgeted...

19) 19) Henderson Co. has fixed costs of $36,000 and a contribution margin ratio of 24%. If expected sales are $200,000, what is the margin of safety as a percent of sales? A) 25%. B) 50% C) 33%. D)...

4/ During its most recent fiscal year, Raphael Enterprises sold 240,000 electric screwdrivers at a price of $16.20 each. Fixed costs amounted to $576,000 and pretax income was $816,000. What amount...

1.Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is: Direct materials standard...

Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 36,000 units, 100% complete as...

What is the purpose of developing an IT strategic plan?

we are talking about halide salts of Element X. The halide and element X is in a 1:1 ratio. Given the ionic radius of element X is 181 pm In the previous part of the question I calculated the ionic...

The following information appeared in the accounting records of SA Dealers, at 31 January 2026: Land and buildings at cost Trade receivables (Debtors) Bank (unfavourable) Long-term borrowings: Supa...

Question 5 0 6 p t s Comparing IT use in a regional children's hospital to IT use in a business that sells tires, you would expect: more complex terminology in the hospital. less funding in the...

3. Compare and contrast the following methods of job evaluation: ranking, classification, factor comparison, and point method.pg 87

5. It was reported in the news that the average pay for most university presidents was around $250,000 per year, but that a few earned much more. For example, the president of Yale University...

Do our procedures demonstrate diligence and independence? (This demands careful deliberations and records.)pg 87