Business, 22.07.2021 17:50 willcohen42

Russell Inc. had sales of $2,210,000for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses. Variable Fixed
Cost of goods sold $921,000 $441,000
Selling expenses 71,000 46,000
Administrative expenses 87,000 99,000
Prepare a CVP income statement for the quarter ended March 31, 2017.

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Answer from: ddea4081

A Cost-Volume-Profit statement is used to show just how the different costs incurred contribute to the expenses. It divides the costs into variable and fixed costs for better analysis.

Sales $2,210,000

Variable Costs:

Cost of Goods sold $921,000

Selling expenses $ 71,000

Admin expenses $87,000

Total variable costs ($1,079,000)

Contribution margin $1,131,000

Fixed costs:

Cost of goods $441,000

Selling expenses $ 46,000

Admin expenses $ 99,000

Total fixed costs ($586,000)

Net operating income $545,000

Answer from: Quest

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Answer from: Quest

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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Russell Inc. had sales of $2,210,000for the first quarter of 2017. In making the sales, the company...

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