Mardist Corporation has sales of $100,0 variable expenses of $75,000, fixed expenses of $30,000, and a net loss of $5,000. How much would Mardist have t sell to achieve a profit of 10% of sales? $187,500 $200,000

Mardist Corporation has sales of $100,0 variable expenses of $75,000, fixed expenses of $30,000, and a net loss of $5,000. How much would Mardist have t sell to achieve a profit of 10% of sales? $187,500 $200,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Pharoah company expects to produce 1,200,000 units of products x in 2022. Monthly production is…

A: FLEXIBLE BUDGET Budgeting is a process of estimating future income and expenditure for a particular…

Q: Grouper Company reports the following costs and expenses in May. Factory utilities Direct labor…

A: The manufacturing overhead comprises all the indirect costs incurred for the production. The selling…

Q: Our company began operations on August 1, 2023. During August, we only worked on three jobs: Job…

A: Total manufacturing costs :— It is the total cost incurred in the manufacturing of product during…

Q: Leno Manufacturing Company Factory Overhead Cost Budget-Press Department For the Month Ended…

A: Variable Overheads are the product costs which change with the change in output, i.e. increases with…

Q: Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of…

A: As per the High-Low Method, the variable cost per unit is computed by first subtracting the lowest…

Q: Operating data for Blue Spruce Corp. are presented below. Sales revenue Cost of goods sold Selling…

A: Income statement is one of the financial statements that shows profitability, total revenue and…

Q: Voss Inc., an accounting firm, adjusts and closes its accounts each December 31. Below are two…

A: Adjusting entries help accountants recognize revenues and expenses in the correct period, adhere to…

Q: Alanco, Inc. manufactures a variety of products and is currently maunfacturing all of its own…

A: Make or buy is the decision making analysis that helps the entity to decide whether the goods should…

Q: Determine the amount of the child tax credit in each of the following cases: a. A single parent with…

A: Child Tax CreditFor each dependent kid under the age of 17, the child tax credit is worth $2,000…

Q: The following are partially completed T-accounts for Novak. The accountant needs help filling in the…

A: Cost of goods sold means the cost of goods which has been actually sold out during the year.Cost Of…

Q: 18. Assuming Pepper Company acquired 70% of the outstanding common stock of Steak Company for…

A: There are multiple questions but only the one question is solved due to our guidelines.A gain or…

Q: The company uses a job-order costing system in which overhead is applied to jobs on the basis of…

A: Journal entry : Method of recording financial transactions in the book of original entry by debiting…

Q: PR 22-5A Cash Budget Obj. 5 The controller of Bridgeport Housewares Inc. instructs you to prepare a…

A: A cash budget is a budget that provides information about the company's projected cash inflows and…

Q: The following balances were taken from the company's records: Inventory $380,000 Accounts…

A: Current ratio is the measure which helps the entity to analyse the liquidity position of the entity.…

Q: Hudson Company reports the following contribution marg HUDSON COMPANY Contribution Margin Income…

A: The break even sales are the sales where business earns no profit or loss during the period.The…

Q: Humana had the following account balances at December 31, 2023: Account Sales Revenue Accounts…

A: Preparation of closing entries is a method the business entity uses to close its temporary accounts…

Q: Calculate the federal income tax liability, marginal tax rate, and average tax rate for each of the…

A: Income tax is based on income. Suppose a person has salary income, capital gain income, house rent…

Q: Please do not give solution in image format thanku

A: Income statement is a financial statement that records all the income and expenses of the business…

Q: Weisman, Inc. uses activity-based costing as the basis for information to set prices for its six…

A: The overhead is applied to the production on the basis of the different activity rates. The activity…

Q: Classify each of the following items as a primary (P) or secondary (S) tax research authority: 1.…

A: Primary tax research authorities are directly binding sources of tax law, such as statutes (like the…

Q: Revenue is properly recognized: Multiple Choice When the customer makes an order. Only if the…

A: Revenue is the total amount of income generated by the sale of goods or services.

Q: What are the implications and accounting treatment for a company transitioning from LIFO (Last-In,…

A: In the business and accounting landscape, inventory valuation is a critical process that involves…

Q: The Munsters have been saving money in order to buy a house. They figure that, given current…

A: Planning, organizing, carrying out, and directing resources and activities in order to accomplish…

Q: Bonnie is 49 and single. She receives salary income of $35,000, unemployment compensation of $5,400,…

A: It is the income of a taxpayer on which the revenue authorities will impose tax. Taxable is the…

Q: Knowledge Check July production costs of Gem's Packaging Department in June are: Materials $8,050…

A: The equivalent units are calculated on the basis of the percentage of the work completed during the…

Q: 3-18 Understanding the entries in the Materials Control account The Materials Control account…

A: Integrated system of accounting refers to the accounting system wherein cost records and financial…

Q: Lupe is planning to expand their business manufacturing dream catchers. They have been doing well at…

A: Break-even point is that value of sales that can able to recover it's fixed costs that were…

Q: On January 1, 2025. Oriole Company purchased $230,000, 6% bonds of Winds Co. for $240,065. The bonds…

A: In this problem, we are required to prepare: 1. Journal entry to record the purchase of bonds on…

Q: A company reported total assets at the end of 2017 of $95,000; including cash of $35,000, accounts…

A: If the beginning value of cash is greater than the ending value of cash then decrease of cash will…

Q: Onts of P100 The following information concerns production in the Baking Department for August. All…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: In a single period inventory model, it is optimal to order MORE than the expected demand if the cost…

A: A single inventory model, often referred to as a single item or single-product inventory model, is a…

Q: Luthan Company uses a plantwide predetermined overhead rate of $22.90 per direct labor-hour. This…

A: Manufacturing overhead is indirect expenses incurred in the production like indirect material,…

Q: Sam works at a jewelry factory making rings. She is paid $2.00 per piece. She is paid weekly at her…

A: Gross pay, also known as gross income or gross earnings, is the total amount of money an hand earns…

Q: Youngstown Glass Company manufactures three types of safety plate glass: large, medium, and small.…

A: Contribution margin is the amount of money earned by the entity after deducting variable costs from…

Q: The following information concerns production in the Baking Department for December. All direct…

A: Process Costing Operation costing method employed to determine the value of a product at each…

Q: Obj. 1, 2, 3 I Love My Chocolate Company makes dark chocolate and light chocolate. Both products…

A: Material price variance:It is a variance between the standard price at which material should be…

Q: The most recent financial statements for Kerch, Incorporated, are shown here (assuming no income…

A: cost is Proportion of sales343068.6%5000Assets is Proportion of sales15000300%5000

Q: a. Total fixed cost is $1.440,000 and a unit of product is sold for $12 in excess of its unit…

A: The break-even point in units is the number of units a business needs to sell in order to cover its…

Q: Bargain Rental Car wants to better understand the variable and fixed portions of its car washing…

A: On the basis of cost behaviour, costs can be of three types: 1) Variable cost, 2) Fixed costs and 3)…

Q: Bonnie Jo purchased a used camera (five-year property) for use in her sole proprietorship. The basis…

A: A depreciation deduction is similar to a corporate tax relief. It enables them to lower their…

Q: David and Ruby are engaged and plan to get married. During 2022, David is a full-time student and…

A: Income tax is based on income. Suppose a person has salary income, capital gain income, house rent…

Q: Write a one-page memo analyzing the relationship between fraud and internal controls. Explain the…

A: Introduction: This memo aims to provide an analysis of the relationship between fraud and internal…

Q: Suppose that a firm has the option to make or buy a part. Its annual requirement is 19,000 units. A…

A: Variable costs are costs that vary with the change in the level of output whereas fixed costs are…

Q: PB5. 4.2 Indicate what impact the following adjustments have on the accounting equation: Assets =…

A: The adjustment entries are prepared to adjust the revenue and expenses for the current period. The…

Q: SCENARIO 3 FIXED MOH VARIANCE ANALYSIS Jenny's Corporation manufactured 25,000 grooming kits for…

A: variaance analysis is a comparison of planed or budgeted target with the actual amount incurred. it…

Q: 9. The Alpine House is a large manufacturer and retailer of snow skis. The company sold all the…

A: The income statement is one of the important financial statements of the business. It tells about…

Q: Question 17 Alaska Electronics has received an order for 1.000 units of equip Part $123 Part #456…

A: Budget means the expected value of future. Budget will be compared with actual value and variance is…

Q: Canyon Company's Assembly Department has the following production and manufacturing information for…

A: Equivalent units are calculated by multiplying the number of units on hand with the percentage…

Q: Calculate cost of goods sold using the following information Inventory type Raw Materials…

A: The cost of goods sold includes the cost of goods that are sold during the period. The ending…

Q: Craftmore Machining reports the following budgeted overhead cost and related data for this year.…

A: Activity based costing means where the product is valued on the basis of actual direct material ,…

Question

Mardist Corporation has sales of $100,000,
variable expenses of $75,000, fixed
expenses of $30,000, and a net loss of
$5,000. How much would Mardist have to
sell to achieve a profit of 10% of sales?
$187,500
$200,000
$225,500
$180,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction:

VIEW

Step 2: Required sales

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Discontinuing operations for a product or a service line

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

If the company wants to earn a profit of $35,000 instead of breaking even, what is the amount of sales the company must achieve? Given information: Fixed Expenses Rent = $ 24,000 Salaries = $ 40,000 Depreciation = $ 13,000 Variable Expenses Cost of Goods Sold = 28% of sales Supplies = 17% of sales Sales Commissions = 10% of sales
iRobot has total sales of $380,000, costs are $270,000, and depreciation is $30,000. The tax rate is 25 percent. The firm does not have any interest expense. What is the operating cash flow? $68,540 $98,000 $94,000 $90,000 $86,000
Jacob Arrell Corporation has sales revenue of $9,500,000. The company's fixed costs total $5.000.000, its variable costs are 15 percent of sales, and its interest expense is $1,000,000. If the company wants to increase its EPS by 30%, how much will it need to increase its Sales? a. 20.24 percent b. 7.71 percent c. 11.42 percent d. 48.19 percent e. 16.75 percent FOT
Your corporation sells a product for $10 per unit. The variable expenses are $6 per unit, and the fixed expenses total $35,000 per period. By how much will net operating income change if sales are expected to increase by $40,000?
Stark Industries reports that its average operating assets are $511,000,000 and its net operating income is $147,000,000 on sales of $1,645,000,000 What is the residual income if the required rate of return is 0.11? Round your answer to the nearest dollar.
The company has P3,000,000 sales. The variable costs are equal to fifty cents for every peso of sales. The fixed costs are estimated to be P100,000. The company has P1,000,000 debt outstanding at a before-tax cost of 10%. How much of a percentage increase would you expect in the company's net income if their sales were to increase by 20%? A. 18.33% B. 19.24% C. 21.50% D. 23.08%
Tropp Corporation sells a product for $10 per unit. The fixed expenses are $420,000 per month and the unit variable expenses are 60% of the selling price. What sales would be necessary in order for Tropp to realize a profit of 10% of sales? a. b. C. d. $1,050,000 $945,000 $1,400,000 $840,000
Sales revenue for XYZ Company is $1,000,000. The cost of goods sold is $450,000 and the operating expenses are S250,000. Interest revenue for the company is $100,000 and the interest expenses are $50,000. The minimum required rate of return is 15% and cost of operating assets $1,500,000. What is the residual income for XYZ Company? a. $125,000 b. $175,000 c. $100,000 d. $75.000
A company invests $16,000 to produce a product that will sell for $45.60. Each unit costs $8.35 to produce. How many units must the company sell to break even? How many units must the company sell to make a profit of $95,000?
Your firm has total sales of $1,480 Costs are $810 and depreciation is $120. The tax rate is 25 percent. The firm does not have interest expenses. What is the operating cash flow? Multiple Choice $533 $586 O $479 $426
Blossom Corp. has annual sales totaling $1146000 and an average gross profit of 20% of cost. What is the dollar amount of the gross profit? $286500. $171900. $229200. $191000.
Pharoah Corp. has annual sales totaling $1218000 and an average gross profit of 20% of cost. What is the dollar amount of the gross profit? $304500. $203000. $182700. $243600.