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Module A Paper A 1 Functional English Paper A 2 Quantitative Methods Module B Paper B 3 Introduction to Economics and Finance Paper B 4 Introduction to Financial …
Jones Products manufactures and sells to wholesalers approximately 400,000 packages per year of underwater markers at $4 per package. Annual costs for the production and sale of this quantity are shown in the table.
Direct materials: $512,000
Direct Labor: 128,000
Overhead: 384,000
Selling Expenses: 160,000
Administrative Expenses: 107,000
Total Costs and Expenses: $1,291,000
A new wholesaler has offered to buy 67,000 packages for $3.44 each. These markers would be marketed under the wholesaler’s name and would not affect Jones Products’ sales through its normal channels. A study of the costs of this additional business reveals the following:
‘Direct materials costs are 100% variable.
‘Per unit direct labor costs for the additional units would be 50% higher than normal because their production would require overtime pay at one-and-one-half times the usual labor rate.
‘ 20% of the normal annual overhead costs are fixed at any production level from 350,000 to 500,000 units. The remaining 80% of the annual overhead cost is variable with volume.
‘ Accepting the new business would involve no additional selling expenses.
‘ Accepting the new business would increase administrative expenses by a $3,000 fixed amount.
Prepare a three-column comparative income statement that shows:
1. Annual operating income without the special order (column 1-Normal Volume).
2. Annual operating income received from the new business only (column 2- New Business).
This is what I have thus far… I’m having difficulty calculating the rest for the new business and the Operating income for both normal volume and new business… can anyone help’
Normal Volume – New Business
Sales: $1600000 $230480
Costs and expenses: 512000
Direct materials: 128000
Direct labor: 384000
Overhead: 160000
Selling expenses: 160000 0
Administrative expenses:107000 3000
Total costs & expenses: 1291000
Operating income:
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