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- Ace Machinery showed the following operating budget for the next year Complete parts (a) through (d) below Each scenario is independent. Sales $2.200,000 Fixed cost $1,400,000 700,000 Total variable cost Total cost 2,100,000 Net income $100,000 (a) Calculate the contribution margin and contribution rate The contribution margin is $ (Round to the nearest dollar as needed) Question Viewer The contribution rate is O (Round to four decimal places as needed) (b) How much does Ace Machinery need to sell to break even? Ace Machinery needs to sell $Accounting Please solve it ASAP with all requirements Q.7. Toews Ltd has prepared the following flexible budget for the coming year. The Budgeted level of activity is 7,500 units. £ Sales 250,000 Direct material 75,000 Direct labour 60,000 Variable overheads 30,000 Fixed overheads 45,000 Profit 22,500 lf the budget is flexed to a level of activity of 10,000 units, what would the total budgeted cost be? a) £280,000 b) £265,000 c) £123,750 d) £168,750Magika Enterprises has prepared the following budget for the month of November: Selling Price Variable Cost per unit per unit Unit Sales Product A ₱ 10 ₱ 4 15,000 Product B ₱ 15 ₱ 8 20,000 Product C ₱ 18 ₱ 8 5,000 If the Fixed Costs amount to ₱150,000, the break-even point in SALES amount to ₱________________. For uniformity of answers, for interim calculations, use 5 decimal places and round-off the final answer to a whole number.
- Howard Cooper, the president of Finch Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 1: Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost. Expected fixed costs Facility maintenance Selling, general, and administrative Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 28,000 hours of services in Year 1. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Finch charges customers $57 per hour, the firm can achieve 31,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same consultant also suggests that if the firm…K Base Machinery showed the following operating budget for the next year. Complete parts (a) through (d) below Each scenario is independent Sales $2,400,000 Fixed cost Total variable cost Total cost Net income $1,200,000 760,000 1,960,000 $440,000 (a) Calculate the contribution margin and contribution rate. The contribution margin is $ (Round to the nearest dollar as needed.) maSun & Ski Corporation is the producer of a ski goggle. Next period's budget data appear below. Selling price per unit Variable expense per unit Fixed expense per month Unit sales per month 24 $ 14 $ 8,600 1,010 Required: 1. What is the company's margin of safety? (Do not round intermediate calculations.)
- Please help The CNC company have acess to the following information to prepare for the budget. Direct Materials: Cost RM1 per kg, and required amount per unit is 2.5kg. The number of hours workers require to finish a product is 2 hours. The direct labor rate is RM5.00 per hour. Production also require 2 machine hours per unit. Manufacturing Overheads Cost are estimated and allocated as follows: Variable Overheads Total Estimate Cost (RM) Allocation Basis Cleaning 18,000.00 Direct Labour Hours Maintenance 12,000.00 Machine Hours Supervision 24,000.00 Direct Labour Hours The following fixed overheads were also estimated Fixed Manufacturing Overheads Total Estimated Cost (RM) Insurance 36,000.00 Advertising 14,000.00 Depreciation 10,000.00 Administration Cost Total Estimate Cost (RM) Managers Salary 108,000.00 Utilities in Main Office 12,000.00 The actual results of operations are as…A company has the following budget formula for annual electricity expense in its shop: Expense = P 7,200 + (PO.60 x units produced) If management expects to produce 200,000 units during March, the appropriate budget for electricity would be. 1. P 7,200 2. P 12,000 3. P 12,600 4. P 19,200 О1 04A company has the following budget formula for annual electricity expense in its shop: Expense = P 7,200 + (P0.60 x units produced) If management expects to produce 200,000 units during March, the appropriate budget for electricity would be. P 7,200 P 12,000 P 12,600 P 19,200 Group of answer choices 1 2 3 4
- Pls provide solution The International Company makes and sells only one product, Product SW. The company is in the process of preparing its Selling and Administrative Expense Budget for the last half of the year. The following budget data are available:VC/unit soldSales commissions P0.70Shipping 1.10Advertising 0.20 Other 2.5 Fc per month Executive salaries, 34,000Depreciation on office equipment-, 11,000Other, 19,000 Advertising, 14,000 If the company has budgeted to sell 20,000 units of Product SW in October then the total budgeted variable selling and administrative expenses for October will be:a.P45,000b.P56,250c.P40,000d.P78,000NiNa plc manufactures 1 product; XYZ. It uses materials A and B inproduction of XYZ. The Financial Director of Rain plc has asked for yourassistance in producing the cash budget for the month of September 2021.She has provided you with the following information extracted from thefunctional budgets:July August September OctoberSales (£) 9,250,000 10,360,000 12,950,000 14,245,000Production (unit) 50,000 56,000 70,000 77,000Material A purchase(£) 1,500,000 1,680,000 2,100,000 2,310,000Material B purchase(£) 500,000 560,000 700,000 770,000Direct labour cost (£) 2,400,000 2,688,000 3,360,000 3,696,000The following additional information has also been provided to you:• Sales are 20% cash, 80% credit. Credit sales are paid one month afterthe month of sale. NiNa plc allows a 1% cash discount on all of its cashsales and the firm does not anticipate any bad debt in the foreseeablefuture.• Payment to material A supplier is made in the month following purchaseand payment to material B supplier is…A. State and explain two objectives of business in preparing budget. Provide example where necessary. B. Kinetic Manufacturing maħufactures small robots that function as a timekeeper. It expects to produce 4,000 units each month. Budgeted variable manufacturing costs per unit are direct materials RM7, direct labour RM5 and overhead RM10. Monthly budgeted fixed manufacturing overhead costs are RM4,500 for depreciation and RM3,000 for rental. In the current month, Kinetic Manufacturing produced 4,100 units of small robots and incurred the following costs: direct material RM28,290, direct labour RM22,000, variable overthead RM44,000, depreciation RM4,500 and rental RM3,000. Required: Prepare a performance report using flexible budget for 4,100 units of output. For each expense, determine the type of variance; favourable or unfavourable. Based on the performance report prepare in (i), discuss the performance of Kinetic Manufacturing for the current month.