Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the central valley company is a merchandising firm

The Central Valley Company is a merchandising firm that sells a single product. The company's...

80.2K

Verified Solution

Question

Accounting

image

The Central Valley Company is a merchandising firm that sells a single product. The company's revenues and expenses for the last three months are given below:-* AprilMay $735,000 294,000-+' $630,000,, $840,000 +' Less cost of goods sold Less operating expenses: Advertising expense Insurance expense 336,000-+' 252,000+' 378,000- ' 441,000- 504,000 +' 56,000 70,000 143,000- ., 9,000- +' +' 161,75O- +' 9,000. 63,500 70,000 71,000 +' 70,000+'+' 180,500- +' +' Salaries and commissions . 9,000 42,000-42,000* 42,000 +' Total operating expenses. 320,000- 346,250- 372,500--' $58,000* $94,750 $131,500 Required: Determine which expenses are mixed (show computations) and, by use of the high-low method, separate each mixed expense into its variable and fixed components. State the cost formula for each mixed expense.- a. b. Compute the company's total contribution margin (Sales-Variable Costs) for May.+

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!
Become a Member

Other questions asked by students

Mechanical Engineering
1.2K views

You are investigating two sensors to use in an experiment. Sensor A has area 600 ±...

General Management
1.2K views

Ronald Reagan stated that government was the problem and not the solution to the nation’s woes....

Biology
1.2K views

17 If you were a forensics expert at a crime scene and you spotted what...

Physics
1.2K views

A bowling ball has a mass of 5 6 kg and a radius of 26...

Physics
1.2K views

A wire of resistance 9 ohm is broken into two parts The ratio of cut...

Calculus
1.2K views

Use the given information to answer the following questions.center (3, -2, 5), radius(a) Find an...

Accounting
1.2K views

TLC Inc. manufactures large-scale, high-performance computer systems. In a recent annual report, the balance sheet...

Accounting
1.2K views

Question 3: Sub-CLO - 5, Weight (20%) PT. Honda Neraca Saldo 31 Desember 2015 Debit...

Accounting
1.2K views

Single plantwide and multiple production department factory overhead rate methods and product cost distortion The...

Finance
1.2K views

eBook Tresnan Brothers is expected to pay a $3.50 per share dividend at the end...

Finance
1.2K views

Burleigh's has a debt-equity ratio of 0.55, a beta of 1.18, a stock price of...

Finance
1.2K views

Your firm is an expert on decentralized finance systems and designs training classes. You are...