DYE-66302 company sells a single product for $165.00 per unit. The company's variable manufacturing costs are $ 41.00 per unit, its variable selling costs are $51.00 per unit, and total annual fixed expenses are $ 431,040. The unit sales to achieve the company's annual target profit of $20,000 is closest to: (Do not round intermediate calculations.) Multiple Choice 5,905 6,179 О 2,734 O 4,903
Q: Service Emphasis The following analysis of selected data is for each of the two services Gates…
A: The best choice is:OAny unused capacity should be devoted to Service A, which has $1 more…
Q: Carla Vista Company purchased a patent on January 1, 2025 for $682000. The patent had a remaining…
A: Intangible assets are those type of assets which can not be seen or touched. These assets can only…
Q: elta Company produces a single product. The cost of producing and selling a single unit of this…
A: A special order is a one-time order that is received from not a regular customer. Special order…
Q: terials. Bwing data are available for the second quarter. Number of bikes assembled Coaster 750…
A: Operation costing is a costing technique that adds additional operation costs and material costs to…
Q: Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but…
A: Ending inventory is the amount of inventory that an entity has on hand, at the end of the period. It…
Q: Current Attempt in Progress Pharoah Corporation manufactures two products with the following…
A: The contribution margin is calculated as difference between sales and variable costs. With limited…
Q: Examine the Statement of Cash flows and the accompanying notes to the financial statements found in…
A: Solution:-The inquiry involves evaluating a company's cash movements by reviewing its Statement of…
Q: Calculate the labor efficiency variance: Labor costs: Budgeted costs (per unit) 2.25 hours at €…
A: DIRECT LABOUR COST VARIANCEDirect Labour Cost Variance is the difference between the actual direct…
Q: A 1 Do research and write a detailed report on the following points: 2 3 - Give the complete…
A: The objective of the question is to understand the concept of fraud, its implications in different…
Q: Neon Inc. has a finished goods inventory of 20,000 units on July 1. The projected sales for July,…
A: The objective of the question is to calculate the budgeted production for September for Neon Inc.…
Q: Monkey Mortgage Inc. engaged in the following non-strategic investment transactions during 2023, all…
A: Amorization schedule: Amortization schedule refers to the calculator to evaluate mortgage and…
Q: The following three identical units of Item Alpha are purchased during April: Cost Flow Methods Item…
A: FIFO (First-in-first-out):FIFO (“First-In, First-Out”) refers to the method used to calculate…
Q: e margin g income $750,000 $300,000 $170,000 s the company's margin of safety in dollars? e Choice
A: $425,000Margin of safety= $425,000Margin of safety= current sales- Break-even salesMargin of safety=…
Q: Zofia is self-employed, files a Schedule C, and owns a business that is a qualified business for…
A: Deductions:Tax deduction is the amount that is deducted from the gross total income to calculate…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: A cash budget helps the business in estimating the flow of cash i.e., inward or outward over a…
Q: Required: 1. Compute the amount of goods available for sale, ending inventory, and cost of goods…
A: Inventory Valuation is a method of calculating the value of stock at the end of an accounting…
Q: D P Sales S 68,000 $ 43,600 $ 56,000 $ 25,500 Cost of goods sold Merchandise inventory, beginning…
A: We use the following formulas for determine the amount Sales = Cost of goods sold + Gross…
Q: Flight Café prepares in-flight meals for airlines and its planning budget for July appears below:…
A: A deviation between individual or collective amount of work done by the individuals or group members…
Q: Full employment output is 100. We have AD = 200 -2P where P is the price level. Suppose that a…
A: The objective of the question is to determine the quantity produced in the short run immediately…
Q: In recording amortization of intangible asset, why isn't there an entry such as a credit to…
A: The objective of the question is to understand why the accounting treatment for amortization of…
Q: Brady Construction Company contracted to build an apartment complex for a price of $5,000,000.…
A: In construction costing, the percentage of completion method is used. This method reports the…
Q: Impairment of an intangible asset occurs when the book value of an asset is less than the fair…
A: Intangible assets are long-term assets that lack a physical substance, like copyrights, patents,…
Q: Acquisitio equipment with a useful life of 4 years in R&D projects (no salvage) $948000 Cost of…
A: Research and development expense:The direct expenses that are related to a company's efforts to…
Q: You manage a real estate investment company. One year ago, the company purchased 10 parcels of land…
A: Accounting income, or book income, represents the net income reported in a company's financial…
Q: K Company has purchased a new machine costing $27,000 and the machine is expected to reduce the…
A: The objective of this question is to calculate the Net Present Value (NPV) of the machine purchased…
Q: mni.3
A: The objective of the question is to calculate the monthly payment, the amount of the payment that…
Q: Blossom Equipment Sales Company, which sells only on account, had a $120,000 balance in its Accounts…
A: The concept related to the given case in relation to accounting for expected credit losses is guided…
Q: 1. Explain the characteristics and the internal control features of an imprest fund. 2. On June 30,…
A: The imprest fund streamlines small cash transactions from the separate fund, reducing the frequency…
Q: Paola and Isidora are married; file a joint tax return; report modified AGI of $12 have one…
A: To claim the American Opportunity credit, the student must be pursuing a degree or other recognized…
Q: Infinity Inc. has provided the following projected sales units for the next quarter: Projected Sales…
A: The objective of the question is to calculate the budgeted production units for the second month of…
Q: Teal Mountain Company sells discounted shoes to the fashion-oriented consumer. The following…
A: First-in First-Out Method - Under the First-in First-Out Method the company uses inventory in the…
Q: Savor Co. had $100,000 in accrual basis pretax income for the year. At year end, accounts receivable…
A: Cash basis refers to an account system in which income and charges are recorded when cash is…
Q: Required: a. Complete the production cost report for August using the weighted-average method. Note:…
A: Equivalent units are those partial completed units which are used in process costing to calculate…
Q: a. What is the total amount of for AGI deductions relating to the condo that Alexa may deduct in the…
A: Adjusted Gross Income(AGI) represents an individual's total gross income from all sources, minus…
Q: 10. On January 1, 2017, Fryer Company enters into a contract to supply 600 pastry frying machines to…
A: Journal entries are the primary reporting of the business transactions in the books of accounts.…
Q: In accounting, which principle emphasizes recording transactions at their original cost? A) Matching…
A: The accounting principles are considered to be the general guidelines and the rules which relate to…
Q: Explain how emissions trading schemes are likely to affect financial reporting.
A: The objective of this question is to understand the impact of emissions trading schemes on financial…
Q: On January 1, 2024, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The…
A: Inventory refers to all the physical items produced by the company for the purpose of either further…
Q: Novak Corp. sells three different categories of tools (small, medium, and large). The cost and net…
A: It is the stock held for sale to customers. The inventory comprises of raw materials, work in…
Q: Samoa Limited is preparing its statement of financial position as of December 31, 2023. The…
A: Statement of financial position The statement of financial position is the position which is known…
Q: Morgan Inc. is preparing its cash budget. The company’s policy states that its minimum required cash…
A: The objective of the question is to calculate the estimated cash balance after financing at the end…
Q: Asset exchange with commercial substanceln 2015, Malawi Inc. exchanged equipment for two delivery…
A: Journal Entries Journal Entries are used to record all the financial transactions in a business. It…
Q: Blossom Tar and Gravel Ltd. operates a road construction business. In its first year of operations,…
A: A Interodudeferred tax asset is an item on the balance sheet that results from the overpayment or…
Q: Sunland Services Ltd. follows ASPE and had earned accounting income before taxes of $520,000 for the…
A: Permanent disparities, which result in a different amount of income tax expense compared to tax…
Q: On March 20 whispering winds petty cash funds of $113 is replenished with the fine contains $10 in…
A: Journal entries are primary reporting of the business transactions in the books of accounts. These…
Q: FDC-11063 Incorporated, manufactures and sells two products: Product Z1 and Product Z8. The company…
A: Activity rate is the rate determined by the entity for the purpose of allocating the costs over…
Q: Question Content Area Jake Entertainment Corporation has three segments with revenue, operating…
A: The objective of the question is to calculate the Earnings Before Interest, Taxes, Depreciation, and…
Q: DYE-69890 company sells a single product for $ 185.00 per unit. The company's variable manufacturing…
A: The objective of the question is to calculate the number of units that the company needs to sell in…
Q: Question Content Area Which of the following graphs in Figure 1 illustrates the behavior of a total…
A: Dear student, below is the answer to your question along with a detailed explanation:Part 1:…
Q: Question Content Area Which of the following is a reason for easy identification and control of…
A: c. Variable costs can be controlled by the operating management.Explanation:a. Fixed costs, such as…
Step by step
Solved in 3 steps
- Garrett Company provided the following information: Common fixed cost totaled 46,000. Garrett allocates common fixed cost to Product 1 and Product 2 on the basis of sales. If Product 2 is dropped, which of the following is true? a. Sales will increase by 300,000. b. Overall operating income will increase by 2,600. c. Overall operating income will decrease by 25,000. d. Overall operating income will not change. e. Common fixed cost will decrease by 27,600.Olivian Company wants to earn 420,000 in net (after-tax) income next year. Its product is priced at 275 per unit. Product costs include: Variable selling expense is 14 per unit; fixed selling and administrative expense totals 290,000. Olivian has a tax rate of 40 percent. Required: 1. Calculate the before-tax profit needed to achieve an after-tax target of 420,000. 2. Calculate the number of units that will yield operating income calculated in Requirement 1 above. (Round to the nearest unit.) 3. Prepare an income statement for Olivian Company for the coming year based on the number of units computed in Requirement 2. 4. What if Olivian had a 35 percent tax rate? Would the units sold to reach a 420,000 target net income be higher or lower than the units calculated in Requirement 3? Calculate the number of units needed at the new tax rate. (Round dollar amounts to the nearest dollar and unit amounts to the nearest unit.)Break-even sales under present and proposed conditions Kearney Company, operating at full capacity, sold 400,000 units at a price of $246.60 per unit during 20Y5. Its income statement for 20Y5 is as follows: The division of costs between fixed and variable is as follows: Management is considering a plant expansion program that will permit an increase of $8,631,000 (35.000 units at $246.60) in yearly sales. The expansion will increase fixed costs by $3,600,000 but will not affect the relationship between sales and variable costs. Instructions Determine for 20Y5 the total fixed costs and the total variable costs.
- Break-even sales under present and proposed conditions Kearney Company, operating at full capacity, sold 400,000 units at a price of $246.60 per unit during 20Y5. Its income statement for 20Y5 is as follows: The division of costs between fixed and variable is as follows: Management is considering a plant expansion program that will permit an increase of $8,631,000 (35.000 units at $246.60) in yearly sales. The expansion will increase fixed costs by $3,600,000 but will not affect the relationship between sales and variable costs. Instructions Determine the maximum operating income possible with the expanded plant.Gelbart Company manufactures gas grills. Fixed costs amount to 16,335,000 per year. Variable costs per gas grill are 225, and the average price per gas grill is 600. Required: 1. How many gas grills must Gelbart Company sell to break even? 2. If Gelbart Company sells 46,775 gas grills in a year, what is the operating income? 3. If Gelbart Companys variable costs increase to 240 per grill while the price and fixed costs remain unchanged, what is the new break-even point?Lotts Company produces and sells one product. The selling price is 10, and the unit variable cost is 6. Total fixed cost is 10,000. Required: 1. Prepare a CVP graph with Units Sold as the horizontal axis and Dollars as the vertical axis. Label the break-even point on the horizontal axis. 2. Prepare CVP graphs for each of the following independent scenarios: (a) Fixed cost increases by 5,000, (b) Unit variable cost increases to 7, (c) Unit selling price increases to 12, and (d) Fixed cost increases by 5,000 and unit variable cost is 7.
- Bethany Company has just completed the first month of producing a new product but has not yet shipped any of this product. The product incurred variable manufacturing costs of 5,000,000, fixed manufacturing costs of 2,000,000, variable marketing costs of 1,000,000, and fixed marketing costs of 3,000,000. Under the variable costing concept, the inventory value of the new product would be: a. 5,000,000. b. 6,000,000. c. 8,000,000. d. 11,000,000.Abilene Industries manufactures and sells three products (XX, W, and ZZ). The sales price and unit variable cost for the three products are as follows: Their sales mix is reflected as a ratio of 4:2:1. Annual fixed costs shared by the three products are $345.000 per year. What are total variable costs for Abilene with their current product mix? Calculate the number of units of each product that will need to be sold in order for Abilene to break even. What is their break-even point in sales dollars? Using an income statement format, prove that this is the break-even point.Morris Industries manufactures and sells three products (AA, BB, and CC). The sales price and unit variable cost for the three products are as follows: Their sales mix s reflected as a ratio of 5:3:2. Annual fixed costs shared by the three products are $25,000 per year. What are total variable costs for Morris with their current product mix? Calculate the number of units of each product that will need to be sold in order for Morris to break even. What is their break-even point in sales dollars? Using an income statement format, prove that this is the break-even point.
- Use the following information for Multiple-Choice Questions 2-13 through 2-18: Last year, Barnard Company incurred the following costs: Barnard produced and sold 10,000 units at a price of 31 each. 2-13Refer to the information for Barnard Company above. Prime cost per unit is a. 7.00. b. 20.00. c. 15.00. d. 5.00. e. 27.60.A company produces two products. E and F in batches of 100 units. The production and cost data are: The company can only perform 12,000 set-ups each period yet there is unlimited demand for each product. What is the differential profit from producing product E instead of product F for the year? A. $216,000 B. $204,000 C. $12,000 D. $54,000Deuce Sporting Goods manufactures a high-end model tennis racket. The company’s forecasted income statement for the year, before any special orders, is as follows: Fixed costs included in the forecasted income statement are $400,000 in manufacturing cost of goods sold and $200,000 in selling expenses. A new client placed a special order with Deuce, offering to buy 1,000 tennis rackets for $100.00 each. The company will incur no additional selling expenses if it accepts the special order. Assuming that Deuce has sufficient capacity to manufacture 1,000 more tennis rackets, by what amount would differential income increase (decrease) as a result of accepting the special order? (Hint: First compute the variable cost per unit relevant to this decision.)