In the answer I saw on Chegg they didn't do a financial statment and the...
60.1K
Verified Solution
Link Copied!
Question
Accounting
In the answer I saw on Chegg they didn't do a financial statment and the other answers were not very clear, therefore I wanted to ask it again. Thanks.
Joon manufactures and sells to retailers a variety of home care and personal care products. Joon has a single plant that produces all four of its product lines: Stick Goods (brooms and mops), FloorCare(strippers, soaps, and waxes), Brushes (hair brushes and shoe brushes), and Aerosols (room deodorizers, bug spray, furniture wax). The following statement summarizes Joon's financial performance for the most recent fiscal year. Stick Goods Floor Care 20 1.5 30 Quantity (000 cases) 35 Direct labor hours/case Total direct labor hours (000) Manufacturing cost per case: 35 51.00 5.25 31.50 46.50 $134.25 21.00 3.50 21.00 31.00 $76.50 Direct material Variable overhead Direct labor cost Fixed overhead Total cost per case Selling price per case Total revenue (000) Operating margin per case Total operating margin (000) Selling, general, and administrative (000): $165.00 3,300 30.75 615 122.00 4,270 45.50 1,592.5 Fixed variable (20% of revenues) Net income (loss) (000) Joon manufactures and sells to retailers a variety of home care and personal care products. Joon has a single plant that produces all four of its product lines: Stick Goods (brooms and mops), FloorCare(strippers, soaps, and waxes), Brushes (hair brushes and shoe brushes), and Aerosols (room deodorizers, bug spray, furniture wax). The following statement summarizes Joon's financial performance for the most recent fiscal year. Stick Goods Floor Care 20 1.5 30 Quantity (000 cases) 35 Direct labor hours/case Total direct labor hours (000) Manufacturing cost per case: 35 51.00 5.25 31.50 46.50 $134.25 21.00 3.50 21.00 31.00 $76.50 Direct material Variable overhead Direct labor cost Fixed overhead Total cost per case Selling price per case Total revenue (000) Operating margin per case Total operating margin (000) Selling, general, and administrative (000): $165.00 3,300 30.75 615 122.00 4,270 45.50 1,592.5 Fixed variable (20% of revenues) Net income (loss) (000)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!