pany has a single product whose selling price is $ 200 per unit; variable is $80 per unit and fixed expenses totaling $60,000. A total of 600 units were produced and sold last month. The company has no beginning or ending inventories. What is the company's margin of safety in dollars?
Q: Trish and Ron form Pine Cororation. Trish transers inventory basis of $60,000 and fair market value…
A: Tax Consequence means any transaction or event in which the Managing Member shall engage or…
Q: What are both the short-term and long-term assets related to a "TUTORING CENTER"?
A: Asset is anything which have monetary value and it is expected that future economic benefit will…
Q: Margin of Safety a. If Canace Company, with a break-even point at $492,000 of sales, has actual…
A: Margin of safety in dollars = Actual sales - Break even sales Margin of safety in % = Margin of…
Q: 5 Sales Espresso Drip Coffee Food/Beverage Merchandise B 3 Computer Total Sales Expenses Cost of…
A: The question deals with budget preparation and goal seek analysis.
Q: Sunshine Goods Ltd is a revenue maximizing firm that engages in the analysis of variances to provide…
A: The benchmark is established in advance, and actual performance is assessed in comparison to it.…
Q: quivalent Units of Production The Converting Department of Worley Company had 560 units in work in…
A: Inventory in process beginning = Whole units x (1-40%) =560 x (1-40%) =336 units
Q: Question 32 Manufacturing overhead was estimated to be $510,000 for the year along with an estimated…
A: Lets understand the basics. Predetermine overhead rate is required to calculate in order to allocate…
Q: Direct Labor Under normal conditions, Sarah pays her employees $8.50 per hour, and it will take 2.80…
A: Answers:- step2 in the solution .
Q: Ramakrishna has a property whose municipal valuation is ₹ 2,50,000 p.a. The fair rent is ₹ 2,00,000…
A: The question deals with computation of income from house property. House property may be self…
Q: In your own words, Define the following terms they relate to spending budgeted dollars obligated…
A: Answer:- Budget meaning:- Governments, companies etc. use budgets to estimate their income and…
Q: For the account "Received income in advance", explain that it appears in the financial statements…
A: Financial statements shows the representation of financial transactions of the company. It involves…
Q: On Jan. 1, 2020, Who Company adopted Dollar Value LIFO. Below is the company's Dollar Value LIFO…
A: The LIFO is a method of inventory valuation that mentions that the most recent purchases are sold…
Q: Jacks Company uses a job order costing system and the following information is available from its…
A: Job order costing refer to the costing method that is used for computing the cost associated with…
Q: The 123 Accounting Company sells accounting videos. The following information has been extracted…
A: LIFO method is last in first out which means inventory bought last is sold first. Periodic method of…
Q: Payment amount $500. Represented by GST Collected 2,500; PAYG Withheld 600; GST paid 3,600
A: Journal entry for the base refund would debit of GST collected and withheld and credit of GST paid.…
Q: The Taurin Partnership (a calendar-year-end entity) has the following assets as of December 31 of…
A: Total Tax Basis of Emma = 1/3 (48,360) + 1/3 (16,120) + 1/3 (85,200)…
Q: Calvin’s AGI is $110,000 and Hobbs is private no operating foundation. What is the charitable…
A: Individual taxpayers can deduct charitable contributions to qualifying charity organisations. The…
Q: Assume you are a financial planner seeking to earn some dividend income for a client, and thus need…
A: The future value represents the value of the current asset in the future assuming a growth rate. The…
Q: Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of…
A: FIFO Method :— Under this method, equivalent units is calculated by adding equivalent units…
Q: why investors track moves in the yield curve?
A: A yield curve provides a clear visual representation of the bond market at a specific point in time.…
Q: Mr. and Mrs. Garcia paid $6,900 to Mrs. Garcia's mother for the entire year to take care of their…
A: The expenses done on children which are dependent on you may claim as deductions in the income tax…
Q: Exercise 4-20 (Algo) Computing and analyzing the acid-test ratio LO A1 Camaro GTO Torino Cash $…
A: Introduction A company's current liabilities are compared to its current assets using the acid-test…
Q: Calculate the average percentage rate for a company that wants to increase its inventories by…
A: It has been provided: Required funds = $475,000 Loan percentage required = 50% Time period = 120…
Q: The following list includes temporary accounts from the December 31 adjusted trial balance of Emiko…
A: The closing entries include the transactions to close the temporary accounts of the business such as…
Q: Analyze whether Mr. Lu is entitled to an excess social security tax credit. ______________ (if…
A: The answer for the question on the social security tax is analysed hereunder : Mr Lu earned the…
Q: Jacks Company uses a job order costing system and the following information is available from its…
A: Job order costing is a costing method which is used to determine the cost of manufacturing each…
Q: Transitory Company acquired the following equity securities: December 31, 2022 Moon Company Star…
A: Statement of financial position A statement of financial position is frequently used to evaluate a…
Q: Bro Corporation manufactures products on a job order basis. The job cost sheet for Job #65 shows the…
A: Lets understand the basics. In a job costing, cost of job is required to determine so as to…
Q: Cost-Volume-Profit Relations: Missing Data Following are data from 4 separate companies. Supply the…
A: The contribution margin is calculated as the difference between sales and variable costs. The…
Q: On January 31, 2020, Courtenay Sports Cars issued 14-year, 7% bonds with a face value of $160,000.…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Friday, 8 hours. The employer pays overtime for all time w orked according to the (a) quarter-hour…
A: The more favorable method will be that which gives a higher hours worked Brian has worked for total…
Q: Kyle, a single taxpayer, worked as a freelance software engineer for the first three months $84,000…
A: FICA tax consists of two parts one is social security and another is medicare and that is necessary…
Q: a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the…
A: First-in-first-out and last-in-first-out is a inventory management method. FIFO method under which…
Q: The total free assets in the statement of affairs will available to the following, except: a.…
A: Liquidation is the process of shutting down the business. In this process, all the assets of the…
Q: Please explain E part , how all components has been calculated
A: Sales $ 10,00,000 100% Variable Cost $ 6,20,000 62% Contribution Margin $…
Q: Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game…
A: Lets understand the basics. There are generally one of the two inventory system follow by the…
Q: Standard Autoparts Inc. issued $170,000 of 8%, 10-year bonds at a price of 84 on January 31, 2020.…
A: Journal entry is the primary step to record the transaction in the books of account. The maturity…
Q: ss segment, net of tax siness segment, net of ta
A: Answer :Prepare the December 31 year end Income statement :
Q: QS 17-4 (Algo) Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for…
A: HORIZONTAL ANALYSIS Horizontal analysis is the comparison of historical financial information…
Q: Calvin reviewed his canceled checks and receipts this year (2022) for charitable contributions,…
A: Donations to nonprofit organisations are known as charitable contributions. Money, noncash objects,…
Q: Emphasis of Matter Adoption of New Accounting Pronouncements As discussed in Note 2A, the State of…
A: The purpose of an audit report is to document the fairness of the financials of the company with…
Q: Delta Corporation uses a process cost system and the FIFO cost flow assumption. Production begins in…
A: Under the FIFO Method of process costing, costs are transferred to next department and ultimately…
Q: What amount of revenue does Gerakos recognize in 20X1 and in 20X2?
A: Residual method of revenue recognition estimates the price of goods or services from overall…
Q: 4 5 6 Sales 7 Espresso 8 Drip Coffee 9 10 Merchandise Food/Beverage 11 Computer 12 Total Sales JAN $…
A: The question deals with First Quarter forecast. It requires calculation of proportion and also…
Q: requires 0.05 hours of direct labor. Each hour of direct labor costs the company $15. No temporary…
A: Direct Labor budget. April May June Quarter Budgeted Production in Units 30000 34250 29875…
Q: 2. An interest computed on the maturity value of the loan and is deducted from that amount at loan…
A: Since multiple questions have been posted, as per the guidelines only the first question will be…
Q: Assume company ABC’s only product is priced at K20 per unit and its variable costs amount to K15 per…
A: Operating Leverage means tendency of operating income to change disproportionately with the change…
Q: 03: annual rates of pay (in dollars) Effee
A: Employees become red circled whenever their pay rate is above the maximum salary identified for…
Q: CAPBS Inc. enters into a lease agreement to acquire the use of a piece of machinery for four years…
A: In exchange for one or more payments, a lessor agrees to grant a lessee the right to manage the use…
Q: On January 1, 2020, Bobond issued a 3-year, 9% P1,000,000 at par. Interest is payable semi-annually…
A: Bonds are longer term sources of finance for companies and bonds are lower cost of source of finance…
Step by step
Solved in 2 steps
- Cadre, Inc., sells a single product with a selling price of $120 and variable costs per unit of $90. The companys monthly fixed expenses are $180,000. What is the companys break-even point in units? What is the companys break-even point in dollars? Prepare a contribution margin income statement for the month of October when they will sell 10,000 units. How many units will Cadre need to sell in order to realize a target profit of $300,000? What dollar sales will Cadre need to generate in order to realize a target profit of $300,000? Construct a contribution margin income statement for the month of August that reflects $2,400,000 in sales revenue for Cadre, Inc.Kerr Manufacturing sells a single product with a selling price of $600 with variable costs per unit of $360. The companys monthly fixed expenses are $72,000. What is the companys break-even point in units? What is the companys break-even point in dollars? Prepare a contribution margin income statement for the month of January when they will sell 500 units. How many units will Kerr need to sell in order to realize a target profit of $120,000? What dollar sales will Kerr need to generate in order to realize a target profit of $120,000? Construct a contribution margin income statement for the month of June that reflects $600,000 in sales revenue for Kerr Manufacturing.Marlin Motors sells a single product with a selling price of $400 with variable costs per unit of $160. The companys monthly fixed expenses are $36,000. What is the companys break-even point in units? What is the companys break-even point in dollars? Prepare a contribution margin income statement for the month of November when they will sell 130 units. How many units will Marlin need to sell in order to realize a target profit of $48,000? What dollar sales will Marlin need to generate in order to realize a target profit of $48.000? Construct a contribution margin income statement for the month of February that reflects $200,000 in sales revenue for Marlin Motors.
- Maple Enterprises sells a single product with a selling price of $75 and variable costs per unit of $30. The companys monthly fixed expenses are $22,500. What is the companys break-even point in units? What is the companys break-even point in dollars? Construct a contribution margin income statement for the month of September when they will sell 900 units. How many units will Maple need to sell in order to reach a target profit of $45,000? What dollar sales will Maple need in order to reach a target profit of $45,000? Construct a contribution margin income statement for Maple that reflects $150,000 in sales volume.Micol & Co. Ltd sells a single product, baby hamper, with a selling price of $150 and variable costs per baby hamper of $100. The company’s monthly fixed expenses are $200,000. required: What is the company’s break-even point in units? What is the company’s margin of safety in dollars, assume sales is expected to be $800,000?Maple Enterprises sells a single product with a selling price of $75 and variable costs per unit of $30. The company's monthly fixed expenses are $22,500. A. What is the company's break-even point in units? B. What is the company's break-even point in dollars?
- Management believes it can sell a new product for $9.00. The fixed costs of production are estimated to be $7,000, and the variable costs are $3.40 a unit. Complete the following table at the given levels of output and the relationships between quantity and fixed costs, quantity and variable costs, and quantity and total costs. Round your answers to the nearest dollar. Enter zero if necessary. Use a minus sign to enter losses, if any. Quantity Total Revenue Variable Costs Fixed Costs Total Costs Profits (Losses) 0 $ $ $ $ $ 500 $ $ $ $ $ 1,000 $ $ $ $ $ 1,500 $ $ $ $ $ 2,000 $ $ $ $ $ 2,500 $ $ $ $ $ 3,000 $ $ $ $ $ Determine the break-even level using the above table and use the Exhibit 19.5 to confirm the break-even level of output. Round your answers for the break-even level to the nearest whole number. Round your answers for the fixed costs, variable costs, total costs,…XYZ Company's single product has a selling price of $25 per unit. Last year the company reported profit of $125,000 and variable expenses totaling $600,000. The product has a 40% contribution margin ratio. Because of competition, XYZ Company will be forced in the current year to reduce its selling price by $2 per unit. How many units must be sold in the current year to earn the same profit as was earned last year?A company spent $30,000 on development of a new product. The variable cost to get the product to customers is $3 per unit, and the price the company charges per unit is $20. What is the break-even quantity?
- Sunland Corporation sells a product for $175 per unit. The product's current sales are 41,900 units and its break-even sales are 34,155 units. What is the margin of safety in dollars?Zhao Co. has fixed costs of $354,000. Its single product sells for $175 per unit, and variable costs are $116 per unit. If the company expects sales of 10,000 units, compute its margin of safety (a) in dollars and (b) as a percent of expected sales.Cyan Corporation has provided the following data concerning its only product: Selling price $ 90 per unit Current sales 11,600 units Break-even sales 10,324 units What is the margin of safety in dollars?