Which statement correctly describes the difference between the traditional and contribution format income statements?

Midwest Manufacturing had the following costs in October: Direct materials used: $75,000 Factory rent: $12,000 Sales salaries: $18,000 Administrative salaries: $25,000 Indirect labor: $9,000 What total amount should be expensed immediately as Period Costs on the October income statement?

Acme Manufacturing produces custom furniture. Which of the following would be classified as a DIRECT cost when the cost object is a specific dining table order?

Apex Corporation has a degree of operating leverage of 5. If sales increase by 12%, by what percentage will net operating income increase?

Atlantic Products currently sells 10,000 units at $50 per unit. Variable costs are $30 per unit and fixed costs are $150,000. If the selling price increases to $55 per unit with no change in costs or volume, what will be the new net operating income?

Mountain Gear Company sells outdoor equipment for $150 per unit. Variable costs are $90 per unit. What is the contribution margin ratio?

Global Industries has a contribution margin ratio of 45% and currently generates sales of $800,000. If sales increase by $100,000, by how much will net operating income increase (assuming fixed costs remain constant)?

TechPro Manufacturing reported the following for September: Raw materials used: $120,000 Factory supervisor salary: $15,000 Assembly worker wages: $85,000 Indirect materials: $8,000 Factory insurance: $4,000 What is the total amount of Prime Costs for September?

Answer 2 questions fully. In a perfectly competitive industry where existing companies are seeing significant positive economic returns, describe the transition to long-run equilibrium. Specifically, how do entry barriers (or lack thereof) influence the supply curve and the ultimate price point? IBM and Coca-Cola are two of the biggest firms in the United States, but they produce different products. Could they legally merge, or would their merger be struck down by the courts? Beyond simple market forces, what role do external factors like labor unions, minimum wage legislation, and ‘efficiency wages’ play in driving up the standard rate of pay for workers in a specific industry?

Both Equiano and Goethe challenge traditional authority by