Cafe X bought 20,000 cups for $1,400 when they opened for business last month. At the end of the month they had 7,000 cups left. How much did the cups add to cost of goods sold (COGS) for the month? Answer 2$
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- Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the month of purchase with the remaining balance pad the month after purchase. Prepare a cash payment schedule for March if in January through March, it purchased $35,000, $37,000, and $39,000, respectively.West Island distributes a single product. The companys sales and expenses for the month of June are shown. Using the information presented, answer these questions: A. What is the break-even point in units sold and dollar sales? B. What is the total contribution margin at the break-even point? C. If West Island wants to earn a profit of $21,000, how many units would they have to sell? D. Prepare a contribution margin income statement that reflects sales necessary to achieve the target profit.Haala Inc. is a merchandising company. Last month the company's cost of goods sold was $68,000. The company's beginning merchandise inventory was $11,000 and its ending merchandise inventory was $17,000. What was the total amount of the company's merchandise purchases for the month? Question 20 options: $96,000 $62,000 $68,000 $74,000
- Q1: Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and 18,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 ounces of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $18 per hour. Desired inventory levels are: Jan. Feb. Mar. Beginning Inventory: Finished Goods 4,500 4,900 5,000 DM - Silicon 8,500 9,100 9,200 DM - Solution 11,200 12,000 13,000 PLEASE NOTE: Units are rounded to whole numbers with commas as needed (i.e. 1,234). All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). Budgeted Costs Desired Ending Inventory Sales Price per Unit Expected Sales (units) Required Production Purchases Required Beginning Inventory Total Sales Revenue Total Required Units Using the information above, along with the terms above, prepare a sales budget and a production budget for the first two months of 2019…Joe's Coffee House Joe's Coffee House has the following information available for the month of July: Sales (2,500 cups) $7,500 Variable costs $3,250 Fixed costs $4,000 Net Income $250 If Joe's sells 500 more cups of coffee per month, net income will: a.increase by $850 b.increase by $150 c.increase by $1,500 d.increase by $100Exercise # 1:Last month when Fiesta Inc., sold 50,000 units, total sales were P200,000, total variable expenses were P120,000 and fixed expenses were P65,000.Required:1. What is the company’s CM ratio?2. Estimate the change in the company’s net operating income if it increases its total sales by P1,000.Exercise # 2:Mario Company distributes a single product, a woven basket whose selling price is P15 and whose variable expense is P12 per unit. The company’s monthly fixed expense is P4,200.1. What is the BEP in units?2. What is the BEP in sales peso?3. Compute the margin of safety.4. Compute the margin of safety as a percentage of its sales.Exercise #3:Basic Illustration Corp. produces and sells a single product. The selling price is P25 and the variable cost is P15 per unit. The corporation’s fixed costs are P100,000 per month. Average monthly sales are 11,000 units.a) The company’s contribution margin per unit and as percentage of Sales (CMR) is ___________.b) The corporations…
- Required information Skip to question [The following information applies to the questions displayed below.]Iguana, Inc., manufactures bamboo picture frames that sell for $30 each. Each frame requires 4 linear feet of bamboo, which costs $3.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $12 per hour. Iguana has the following inventory policies: Ending finished goods inventory should be 40 percent of next month’s sales. Ending direct materials inventory should be 30 percent of next month’s production. Expected unit sales (frames) for the upcoming months follow: March 305 April 310 May 360 June 460 July 435 August 485 Variable manufacturing overhead is incurred at a rate of $0.40 per unit produced. Annual fixed manufacturing overhead is estimated to be $7,200 ($600 per month) for expected production of 4,500 units for the year. Selling and administrative expenses are estimated at $650 per month plus $0.50 per…Susan Wilson sells gourmet chocolate chip cookies. The results of her last month of operations are as follows: Sales revenue $ 160,000 Cost of goods sold (all variable) 100,000 Gross margin 60,000 Selling expenses (75% variable) 12,000 Administrative expenses (25% variable) 20,000 Operating income $ 28,000 (a) Prepare a contribution format income statement for Susan. (Round answers to 0 decimal places, e.g. 5,275.) select an income statement item $enter a dollar amount select an opening name for section one : select an income statement item $enter a dollar amount select an income statement item…5. QR Code Inc. sales two products: Queen and Pia. Data concerning the company for March follows: Product Queen Product Pia Sales..................................................................... 200,000 300,000 Variable Expenses................................................ 50,000 100,000 Traceable Fixed Cost........................................... 80,000 150,000 In addition, there were common fixed expenses of 70,000 in March. What was the segment margin for Product Queen? 6. Same data in no. 5. Suppose advertising for product Pia is increased by P20,000 per month, which results in an increased in sales of P90,000 per month. With this, what would be the effect and the amount on Product’s Pia monthly segment margin? put solution
- Menlo Company distributes a single product. The company’s sales and expenses for last month follows: picture1 Required:1. What is the monthly break-even point in unit sales and in dollar sales?2. Without resorting to computations, what is the total contribution margin at the break-even point?3. How many units would have to be sold each month to earn a target profit of $90,000? Use the formula method. Verify your answer by preparing a contribution format income statement at the target sales level.4. Refer to the original data. Compute the company’s margin of safety in both dollar and percentage terms.5. What is the company’s CM ratio? If sales increase by $50,000 per month and there is no change in fixed expenses, by how much would you expect monthly net operating income to increase?Sales of industrial vacuum cleaners at Yarena Supply CO. over the past 13 months are as follows: Sales in P1,000 Month Sales in P1,000 Month 11 January 14 August 14 February 17 September 15 March 12 October 10 April 14 November 15 May 16 December 17 June 11 January 11 July Required suing a moving average with three periods, determine the demand for vacuum cleaners for next February? Problem 1: Mendelev Company is a small producer of several coffee products. One of the products is Kapeng Barrack’o that is sold to retail outlets. Jensen Mendelev must decide how many boxes of the Kapeng Barrack’o to produce each month. The probability that the demand will be six boxes is 0.1, for seven boxes is 0.3, for 8 boxes is 0.5, and for 9 boxes is 0.1. The cost of every box is P400, and the price that Jensen gets for each box is P800. Unfortunately, any boxes not sold at the end of the month are of no value…Butter cup company distribute a single product. The company's sale's and expenses for last month follow: Sale's P 450,000. Per unit P 30 Variable expenses 180,000 per unit P12 Contribute margin 270,000 per unit P18 Fixed expenses 216,000 Net operating income P54,000 What is the monthly break-even points in unit sold and in sales pesos? How many units would have to be sold each month to earn a target profit of Php 90,000 $ Use the formula method verify your answer by preparing a contribution format income statement at the target sale's level