136.Philadelphia Company has the following information for March: Sales $450,000 Variable cost of goods sold 240,000 Fixed manufacturing costs 70,000 Variable selling and administrative expenses 52,000 Fixed selling and administrative expenses 35,000 Determine the March (a) manufacturing margin, (b) contribution margin, and (c) income from operations forPhiladelphia Company. 137.Tony's Company has the following information for March: Sales $1,000,000 Variable cost of goods sold 490,000 Fixed manufacturing costs 170,000 Variable selling and administrative expenses 112,000 Fixed selling and administrative expenses 100,000 Determine the March (a) manufacturing margin, (b) contribution margin, and (c) income from operations for Tony'sCompany. 138.On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacityduring January. The following data summarized the results for January: Units Production 50,000 Sales ($18 per unit) 42,000 Inventory, January 31 8,000 Manufacturing costs: Variable $575,000 Fixed 80,000 Total $655,000 Selling and administrative expenses: Variable $ 35,000 Fixed 10,500 Total $ 45,500 (a)Prepare an income statement using absorption costing. (b)Prepare an income statement using variable costing.

136.Philadelphia Company has the following information for March: Sales $450,000 Variable cost of goods sold 240,000 Fixed manufacturing costs 70,000 Variable...

136.Philadelphia Company has the following information for March:

Sales	$450,000
Variable cost of goods sold	240,000
Fixed manufacturing costs	70,000
Variable selling and administrative expenses	52,000
Fixed selling and administrative expenses	35,000

Determine the March (a) manufacturing margin, (b) contribution margin, and (c) income from operations forPhiladelphia Company.

137.Tony's Company has the following information for March:

Sales	$1,000,000
Variable cost of goods sold	490,000
Fixed manufacturing costs	170,000
Variable selling and administrative expenses	112,000
Fixed selling and administrative expenses	100,000

Determine the March (a) manufacturing margin, (b) contribution margin, and (c) income from operations for Tony'sCompany.

138.On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacityduring January. The following data summarized the results for January:

	Units
Production	50,000
Sales ($18 per unit)	42,000
Inventory, January 31	8,000

Manufacturing costs:
Variable	$575,000
Fixed	80,000
Total	$655,000

Selling and administrative expenses:
Variable	$ 35,000
Fixed	10,500
Total	$ 45,500

(a)Prepare an income statement using absorption costing.

(b)Prepare an income statement using variable costing.

May 15, 2022

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136.Philadelphia Company has the following information for March: Sales $450,000 Variable cost of goods sold 240,000 Fixed manufacturing costs 70,000 Variable...

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