AprilMayJuneInterceptX Variable 14,2507,800JulyAugustSuppose that Havana expects to sell 4,700 hats during the month of September and that each hat sells for $2.75.Havana performed a least-squares regression and obtained the following results:3,7006,1506,800Contribution marginNet operating income5,0508,1504,4506,9007,520Coefficients1,255.090.91Required:Prepare Havana's contribution margin income statement for the month of September.Note: Round your answers to 2 decimal places.Havana HatsContribution Margin Income StatementMonth of September Havana Hats makes the world's best hats. Information for the last eight months follows:MonthJanuaryFebruaryMarchAprilMayJuneJulyAugustNumber of HatsProduced6,7502,8003,2504,2507,8003,700InterceptX Variable 16,1506,800rSuppose that Havana expects to sell 4,700 hats during the month of September and that each hat sells for $2.75.Havana performed a least-squares regression and obtained the following results:Total Cost$ 7,5003,9004,2005,0508,1504,4506,9007,520Coefficients1,255.090.91Contribution marginRequired:Prepare Havana's contribution margin income statement for the month of September.Note: Round your answers to 2 decimal places.Havana HatsContribution Margin Income StatementMonth of September

Under the variable costing approach the total costs are bifurgated into the variable costs and the…

Answered: Intercept x Variable 1 Coefficients…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Shadee Corp. expects to sell 600 sun visors in May and 440 in June Each visor sells for $14Shadee's beginning and endin goods inventories for May are 85 and 40 units, respectively Ending finished goods inventory for June will be 55 units expects the following unit sales for the third quarter July August September 545 480 440 Sixty percent of Shadee's sales are cashOf the credit sales52 percent is collected in the month of the sale38 percent is c during the following month , and 10 percent is never collected Required : Calculate Shadee's total cash receipts for August and September (Do not round your intermediate calculations . Round you to the nearest whole dollar )
Handy’s Hats makes the world’s best hats. Information for the last eight months follows: Month Number of Hats Produced Total Cost January 4,750 5,900 February 3,150 4,850 March 2,600 4,200 April 4,800 6,125 May 6,400 7,655 June 7,350 8,575 July 5,600 7,000 August 8,550 9,555 Suppose that Handy’s expects to sell 6,000 hats during the month of September and that each hat sells for $2.75. Handy performed a least-squares regression and obtained the following results: Coefficients Intercept 1,855.99 X Variable 1 0.90 Prepare Handy’s contribution margin income statement for the month of September. (Round your answers to 2 decimal places.) HANDY'S HATS Contribution Margin Income Statement Month of September Contribution Margin Net Operating Income
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Shadee Corporation expects to sell 590 sun shades in May and 360 in June. Each shades sells for $15. Shadee's beginning and ending finished goods inventories for May are 80 and 50 shades, respectively. Ending finished goods inventory for June will be 60 shades. It expects the following unit sales for the third quarter. July August September 545 450 430 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale. 40 percent is collected during the following month, and 8 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts August September
es Shadee Corporation expects to sell 560 sun shades in May and 410 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 70 and 50 shades, respectively. Ending finished goods inventory for June will be 50 shades. It expects the following unit sales for the third quarter: July August September 575 470 450 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 36 percent is collected during the following month, and 12 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts August September
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Intercept x Variable 1 Coefficients 1,255.09 0.91 Required: Prepare Havana's contribution margin income statement for the month of September. Note: Round your answers to 2 decimal places. Havana Hats Contribution Margin Income Statement Month of September Contribution margin