Sheridan Inc. sells a product for $106 per unit. The variable cost is $68 per unit, while fixed costs are $464,968. Determine (a) the break- even point in sales units and (b) the break- even point if the selling price were increased to $114 per unit. a. Break-even point in sales units fill in the blank 1 units b. Break-even point if the selling price were increased to $114 per unit fill in the blank 2 units Feedback
Q: Partially completed T-accounts and additional information for Dumfries Designs for the month of…
A: The direct costs are debited to work in process account. The indirect Costs are debited to…
Q: At May 31, Sheffield Company has net sales of $315,000 and cost of goods available for sale of…
A: As per the given information: Net sales - $315,000Cost of goods available - $211,500Gross profit…
Q: What are the responsibilities of businesses and sellers under the Consumer Protection Act to ensure…
A: Under the Consumer Protection Act, businesses and sellers have certain responsibilities to ensure…
Q: Required: 1. Prepare the journal entries necessary to record the transactions. If no entry is…
A: The intangible asset is a non-current asset or a non-monetary fixed asset which does not have any…
Q: Tom Yuppy, a wealthy investor, paid $52,000 for 1,300 shares of $10 par common stock issued to him…
A: The issue of the shares means an activity in which the company raises capital by selling the smaller…
Q: Concord Industries had the following inventory transactions occur during 2020: Units Cost/unit $50…
A: Lets understand the basics. There are various methods are followed for the valuation of inventory…
Q: Chloe's Cafe bakes croissants that it sells to local restaurants and grocery stores. The average…
A: Variable cost will remains constant per unit basis.
Q: Exercise 13-20 (Algorithmic) (LO. 4, 8) Ava and her husband, Leo, file a joint return and are in the…
A: Federal Income Tax - The U.S. government's main source of money is the federal income tax. The…
Q: net cash provided by operating activities
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: Novus Engine Shop uses a job order cost system to determine the cost of performing engine repair…
A: Lets understand the basics. Predetermine overhead rate is calculated by dividing estimated…
Q: Requirement 1. Analyze the effects of these events on the accounting equation of the medical…
A: Accounting Equation - Accounting Equation is calculated using the following equation - Assets =…
Q: Prepare the appropriate journal entries assuming Pina follows IFRS and uses the revenue approach.…
A: The promotion which a company uses is the lure to the customers in which they will get a 5-piece…
Q: Calculate an index of multinationality based upon the geographical distribution of sales revenue and…
A: Given, Sales in Germany = 25,262 Non Current Asset in Germany = 49819
Q: ackson County Senior Services is a nonprofit organization devoted to p omes within the Jackson…
A: Analyzing financial advantages and disadvantages helps individuals and organizations identify…
Q: daughter, Daniele. If no gift tax is paid and Daniele sells the stock for $16,000, she will…
A: When the recipient sells the gift stock, the cost basis is determined by considering the fair market…
Q: Impaired Goodwill and Amortization of Patent On April 1, a patent with an estimated useful economic…
A: Journal Entries - Journal Entries are the records of the transactions entered into by the…
Q: Revising an estimate of the useful life or salvage value of a plant asset is referred to as a change…
A: An accounting estimate is the estimated value using which the adjusting entries are recorded.…
Q: The following information is available for Sheffield Corp.. Current assets Total assets Current…
A: Ratio analysis is the process of comparing different financial account line items for a corporation.…
Q: Volkswagen AG and Daimler AG, both based in Germany, are two of the largest automobile manufacturers…
A: Index is calculated by using arithmetic average of both sales and assets
Q: Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019.…
A: Under the conventional retail method of valuing inventory, the relation between a product's cost and…
Q: Cost Flow Relationships The following information is available for the first month of operations of…
A: Cost sheet refers to the document that show the breakdown of costs incurred by a manufacturing firm…
Q: T.o.p.i.c.:. .A.L.L.O.W.E.D. .D.E.D.U.C.T.I.O.N.S. .-. .I.n.c.o.m.e. .T.a.x.a.t.i.o.n.…
A: Income taxation in the Philippines allows certain deductions that taxpayers can claim to reduce…
Q: Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment.…
A: Debt Equity ratio = Total liabilities / Total owner's equity Equity multiplier = 1 + Debt Equity…
Q: hat is the
A: The most used software for accounting varies depending on the specific needs and preferences of…
Q: Drilling Company uses activity-based costing and provides this information: Manufacturing Activity…
A: Activity-based costing can provide a more accurate picture of the costs incurred by different…
Q: TB MC Qu. 22-83 (Static) Clampett, Incorporated, has been an S corporation since its..... Campett,…
A: Basis means value of an individual or entity's investment in a business asset. The following formula…
Q: Required information [The following information applies to the questions displayed below.] Selected…
A: Income Statement - An income Statement is a financial statement that includes Revenue earned and…
Q: Here is Flounder Company's portfolio of long-term stock investments at December 31, 2021, the end of…
A: For the purpose of maintaining track of commercial transactions, the business entities record them…
Q: On January 1, 2021, Eagle Company borrows $30,000 cash by signing a four year, 7% installment note.…
A: A journal is made to record all business transactions. All the financial transactions are recorded…
Q: c. Laureen's AGI is $45,000 and Laureen paid $12,020 (not $1,710) for Ryan to attend graduate school…
A: AOTC: American opportunity tax credit (AOTC) is a credit available for qualified tuition and…
Q: Current Attempt in Progress Oriole Realty has total liabilities of $25000 and total assets of…
A: Equity is simply the value of an investor's stake in a company. It is represented by the value of…
Q: Fletcher Company collected the following data regarding production of one of its products. Compute…
A: The spending variance is the difference between the actual and standard production data. The…
Q: what is meant by capital budgeting and elaborate on five reasons why capital budgeting is of great…
A: It is the process by which it helps to take decision whether it is beneficial to invest on a certain…
Q: At the end of its first year of operation, Tamarisk, Inc. has $1,190,000 of common stock and net…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Aylmer-in-You (AIY) Inc. projects unit sales for a new opera tenor emulation implant as follows:…
A: Net present value refers to the method of capital budgeting used for estimating the viability of the…
Q: Alan Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to…
A: Given, Withdraw amount = $ 23,230 Cumulative PV factor at 11% for 4 periods (calculated) = 3.10245
Q: A major electronics company has acquired a green field site to build a new factory. The land costs…
A: The cost of land would consist of the land purchase cost, professional fee paid for such…
Q: Lacy Construction has a noncontributory, defined benefit pension plan. At December 31, 2021, Lacy…
A: Pension expense is the amount that a business charges to expense in relation to its liabilities for…
Q: Type here to search View Policies Current Attempt in Progress The following credit sales are…
A: Cash collection :— It is the amount of receivable that are collected from customer during the…
Q: Here is a simplified balance sheet for Locust Farming: Locust Farming Balance Sheet ($ in millions)…
A: Shareholder's equity is the amount which represents the stake of the shareholders in the entity. It…
Q: Sumner sold equipment that it u
A: To determine the gain or loss on the sale of equipment, we need to calculate the adjusted basis and…
Q: ABC Corporation had the following income statement information for the year: Sales revenue $500,000,…
A: Lets understand the basics. Income statement is a statement prepared to calculate the net income of…
Q: Prior Year Current Year 3,122.00 5,911.00 6,972.00 9,087.00 5,731.00 6,190.00 19,765.00 13,919.00…
A: Financing Activities Borrowing long term liabilities ------- Increase in Cash flow…
Q: Vaughn Paper Products purchased 11,500 acres of forested timberland in March 2020. The company paid…
A: Depletion It refers to an accrual method of accounting used in the calculation of expense of…
Q: Refer to the data given in Table 2. Prepare a report for the checking account balances for each of…
A: In this current world every business and an individual is having a bank account and the balance of…
Q: During its first year of operations, Whispering Winds Corp. had these transactions pertaining to its…
A: To keep track of the business transactions, it is necessary for the business entities to record the…
Q: What is the difference between 'Neutrality' and 'Prudence'? Please explain/provide an example for…
A: In accounting, the concepts of "neutrality" and "prudence" play important roles in ensuring the…
Q: Lego Company has used the FIFO method since it began operations in 2023. Lego changed to the…
A: Lets understand the basics. Management can use various method for valuation of inventory. Some of…
Q: Problem 11-25 (Algo) [LO 11-6] m 2020, NB Incorporated's federal taxable income was $268,000.…
A: Prior year (2020) taxable income = $268,000 Thus 2020 Tax liability = 21% of $268,000 = $56,820
Q: Gant Company purchased 30 percent of the outstanding shares of Temp Company for $83,000 on January…
A: The accounting approach of treating investments in affiliated corporations is known as the equity…
Please do not give solution in image format thanku
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Delta Co. sells a product for $150 per unit. The variable cost per unit is $90 and fixed costs are $15,250. Delta Co.s tax rate is 36% and the company wants to earn $44,000 after taxes. What would be Deltas desired pre-tax income? What would be break-even point in units to reach the income goal of $44,000 after taxes? What would be break-even point in sales dollars to reach the income goal of $44000 after taxes? Create a contribution margin income statement to show that the break-even point calculated in B, generates the desired after-tax income.Faldo Company produces a single product. The projected income statement for the coming year, based on sales of 200,000 units, is as follows: Required: 1. Compute the unit contribution margin and the units that must be sold to break even. Suppose that 30,000 units are sold above the break-even point. What is the profit? 2. Compute the contribution margin ratio and the break-even point in dollars. Suppose that revenues are 200,000 greater than expected. What would the total profit be? 3. Compute the margin of safety in sales revenue. 4. Compute the operating leverage. Compute the new profit level if sales are 20 percent higher than expected. 5. How many units must be sold to earn a profit equal to 10 percent of sales? 6. Assume the income tax rate is 40 percent. How many units must be sold to earn an after-tax profit of 180,000?When prices are falling (deflation), which costing method would produce the highest gross margin for the following? Choose first-in, first-out (FIFO); last-in, first-out (LIFO); or weighted average, assuming that B62 Company had the following transactions for the month. Calculate the gross margin for each of the following cost allocation methods, assuming B62 sold just one unit of these goods for $400. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
- 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.When prices are rising (inflation), which costing method would produce the highest value for gross margin? Choose between first-in, first-out (FIFO); last-in, first-out (LIFO); and weighted average (AVG). Evansville Company had the following transactions for the month. Calculate the gross margin for each of the following cost allocation methods, assuming A62 sold just one unit of these goods for $10,000. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)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.
- Starling Co. manufactures one product with a selling price of 18 and variable cost of 12. Starlings total annual fixed costs are 38,400. If operating income last year was 28,800, what was the number of units Starling sold? a. 4,800 b. 6,400 c. 5,600 d. 11,200Lotts 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.Klamath Company produces a single product. The projected income statement for the coming year is as follows: Required: 1. Compute the unit contribution margin and the units that must be sold to break even. 2. Suppose 10,000 units are sold above break-even. What is the operating income? 3. Compute the contribution margin ratio. Use the contribution margin ratio to compute the break-even point in sales revenue. (Note: Round the contribution margin ratio to four decimal places, and round the sales revenue to the nearest dollar.) Suppose that revenues are 200,000 more than expected for the coming year. What would the total operating income be?
- 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.A company has prepared the following statistics regarding its production and sales at different capacity levels. Total costs: 1. At what point is break-even reached in sales dollars? In units? (Hint: Use the capacity level to determine the number of units.) 2. If the company is operating at 60% capacity, should it accept an offer from a customer to buy 10,000 units at 3 per unit?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.