The break-even point in units using the weighted-average contribution margin is:
Q: What was the favourable yield variance for the Opop for June? Select... Gelect... 25 40 5 2
A: $725 was the favorable yield variance for the Opop for June.
Q: Thomas owns a closely held partnership interest that currently represents 60% of the value of his…
A: Estate tax is levied on right to transfer property after your death.this kind of tax is calculated…
Q: What was the adverse labour efficiency planning variance for July? $86,400 © $77,760 $93,960 $97,200
A: Variance analysis and standard costing are the tools that managers use for determining performance…
Q: 38. Production department records show the following: beginning work in process of 25,000 units (80%…
A: Equivalent units are those number of units which are completed or manufactured in a particular time…
Q: Vole Co has operating gearing of 160%. It calculates operating gearing by dividing contribution by…
A: Given, Operating Gearing = Contribution MarginOperating Profit = 160% Operating gearing ratio…
Q: 3. On February 3, the company purchased materials amounting to 950,000 on account. Transportation…
A: The inventory can be valued using various methods as Periodic system or perpetual system. Using…
Q: prior experience, estimate returns are 10%. The journal entry to record the actual return of $340 of…
A: Sales return is the return which has been received back by the company from the customers and as…
Q: 4/2 Purchased a company automobile for $32,000, with a cash down payment of $1,000 and the remaining…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: Work in process, beginning.............Php 40,000 Costs added to production.........Php280,000 Costs…
A: The transfer in costs are accumulated costs that belong to beginning work in process.
Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…
A: Under the LIFO method, goods purchased at last are sold first and the initial purchases constitute…
Q: XYZ Company used the direct method to prepare the statement of cash flows. The entity had the…
A: Cash flow from operating activities include all cash transitions which made to run day to day…
Q: 25. Production records show: beginning work in process of 10,000 units (50% material, 80%…
A: Process costing is one of the important method of cost accounting being used in business. This is…
Q: 1. Create and Income Statement with schedules for BLAZING ENTERPRISES for the Year Ended December…
A: Income statement is one of the type of financial statement, which is generated for reviewing…
Q: Calculate the cost of this inventory by FIFO.
A: Inventory valuation refers to the methods used by the company to determine the value of its…
Q: under uses the following projected rates to accrue vacation ti Pay Rates Used cation Pay
A: Flounder limited recognizes sick leaves only when it is used . Thus when the sick leaves are used ,…
Q: need help with question 6
A: The purchase term 2/15, n/30 means 2% discount is available if the payment made in 15 days, the…
Q: ILLUSTRATE THE VARIOUS COST CLASSIFICATIONS. (PLEASE INCLUDE PHOTOS OR TEXT FOR THE EXPLANATION)…
A: Cost is the basic point of significance. It is the cost that can lead a firm to the greatest heights…
Q: iarism please Q1. Limited liability is a we
A: Partnership refers to the legal form of agreement between two or more persons who decide to run the…
Q: journaalize entries from accounting for purchase with frieght transaction?
A: The accounting Entry are passed according to double entry system with states that an entry of it to…
Q: Describe a review engagement and explain the level of assurance given in such an engagement.
A: You have asked to answer different questions under a single question and we provide solution to one…
Q: ILLUSTRATE THE VARIOUS COST CLASSIFICATIONS. (PLEASE INCLUDE PHOTOS OR TEXT FOR THE EXPLANATION)…
A: The cost means the amount paid by the company for purchasing or producing something. The cost is the…
Q: Consider the following situations for Bookfield Welding Services: (Click the icon to view the…
A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…
Q: b) ISA 300 planning an audit of financial statements provides guidance to assist Auditors in…
A: Audit planning refers to the means of developing the general strategy as well as detailed approach…
Q: Accounting Cherry Corporation had 600,000 shares of common stock outstanding during 2020. In…
A: Answer a:- EPS = $1.67. Explanation:- Computation of EPS:- EPS = Net Income / Outstanding shares…
Q: On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360…
A: Financial statements include Income statement, Cash flow statement, Statement of Retained earnings…
Q: The accounting records of Calvin Architects include the following selected, unadjusted balances at…
A: Balance of office supplies account is $ 600 And given that office supplies in hand is $100 So…
Q: Sheldon and Amy own a plumbing business as a sole proprietorship. The file a joint return and are…
A: QBI deduction means the way by which the taxpayers reduce their tax obligation associated with…
Q: 8. Ninety-five thousand units were started into production during the month. The production report…
A: Process costing is one of the method of cost accounting, which is used for industries where product…
Q: Native Wood Products Ltd sells hand-made coffee tables. The shop owner has divided sales into two…
A: We know that contribution margin equals sales minus variable expenses .However when we calculate the…
Q: PART 2: MULTIPLE CHOICE QUESTIONS (QUALITATIVE QUESTIONS) . Please choose the correct one 1.…
A: Managerial accounting, sometimes known as managerial accounting, is a type of accounting that…
Q: ILLUSTRATE THE VARIOUS COST CLASSIFICATIONS. PLEASE INCLUDE PHOTOS OR TEXT FOR THE EXPLANATION)…
A: Cost refers to the monetary value of expenditures for raw materials, equipment, supplies, services,…
Q: Equivalent units of production based on weighted-average are: 5,000 units material, 200,000 units…
A:
Q: Budgeted sales are 1,400 sets for the first quarter and expected to increase by 150 sets per…
A: Sales- The amount of money received by a corporation during a given period from the sale of goods or…
Q: 1. Create and Income Statement with schedules for BLAZING ENTERPRISES for the Year Ended December…
A: Income statement is one of the form of income statement which shows all incomes and all expenses of…
Q: 3. A company requires $1,360,000 in sales to meet its net income target. Its contribution margin is…
A: The contribution margin is calculated as difference between sales and variable costs. The break…
Q: ILLUSTRATE THE VARIOUS COST CLASSIFICATIONS. (PLEASE INCLUDE PHOTOS OR TEXT FOR THE EXPLANATION)…
A: Cost is the value that is spent by the company to produce or deliver something. there are different…
Q: A group of billionaires is considering investing in higher education in the Caribbean, which…
A: Higher Education in the Caribbean: Under this approach, the demand on the education system was…
Q: ISA 315 Identifying and Assessing the Risks of Material Misstatement Through Understanding the…
A: Audit refers to the inspection or the examination of the financial records of the company through an…
Q: Rockwood Industries manufactures wood furniture. In the Lamination Department, varnish is added when…
A:
Q: PART ABC с LIFE 10 20 16 COST $20,500 35,750 19,000 SCRAP VALUE $ 500 750 1000
A: Calculation of composite life of plant as below: UNDER SINKING FUND METHOD : Part A. original…
Q: Q.1 Company offered 10,000 ordinary shares of Rs. 10 at Rs. 12. Company received 8,000 shares…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: Division M is a division of MR plc. The following data relate to Division M. Net assets Annual…
A:
Q: (1) Accrue salaries expense. Dr. Cr.. ****** - Dr. Cr. - (2) Adjust the Unearned Services Revenue…
A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…
Q: Crane Corporation had the following transactions during its first month of operations: 1. Purchased…
A: No General Journal Debit Credit 1 Raw material $69,700 Accounts payable $69,700 (to…
Q: can you solve it not using advanced functions, thank you:) 10. Warren bought a bicycle for $2500,…
A: Warren bought bicycle at $2500 plus 13 % HST. Store is charging 6 % interest per annum, compounded…
Q: Problem 7 On March 1, 2018, X and Y formed a partnership. The partners contributed the following X Y…
A: Partnership is one of the form of business organisation. Under this, two or more than two persons…
Q: 4-a. What will be the new breakeven point if the additional $213,280 is spent on advertising? 4-b.…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…
Q: 1. Mohammed is admitted to the partnership of Rashed & Ameer. Prior to his admission, the…
A: Journal Entry :- The purpose of preparing the journal entry to segregate the transaction which are…
Q: QUESTION 4 Pearl Bhd is a manufacturing company operating in Puchong, Selangor. Since 2017, the…
A: Cash flows statement is one of the important financial statement which shows all cash inflows and…
Q: In 2018, Titus paid #6,000,000 to purchase land containing a total estimated 160,000 tons of…
A: Depletion rate per ton= (Initial purchase amount - salvage value] / capacity of extraction of…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- 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.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.)R&R Tax Service offers tax and consulting services to individuals and small businesses. Data for fees andcosts of three types of tax returns follow. R&R provides services in the ratio of 5:3:2 (easy, moderate,business). Fixed costs total $18,000 for the tax season. Use this information to determine the (1) sellingprice per composite unit, (2) variable costs per composite unit, (3) break-even point in composite units,and (4) number of units of each product that will be sold at the break-even point.Type of Return Fee Charged Variable Cost per ReturnEasy (Form 1040EZ) . . . . . . . . . . . . . . $ 50 $ 30Moderate (Form 1040) . . . . . . . . . . . . 125 75Business . . . . . . . . . . . . . . . . . . . . . . . . 275 100
- Help, I know the answer is between b and d but I am not sure which one?, please solve it by yourself A company requires $600,000 in sales to meet its target net income after tax. Itscontribution margin is 40%, and fixed costs are $80,000. How much is the target netincome, given that its after-tax rate is 70%?a. $160,000b. $112,000c. $400,000d. $48,000MinMin Corporation gathered the following information: Income tax rate 40% Contribution-margin ratio 30% If fixed costs are $600,000, what level of sales dollars is needed to produce an after-tax net income of $150,000? (Round to the nearest $, and enter a number only).Choose the correct letter of answer In 20x2 the Cranky Processing Company had the following data coming from its income statement (in Pesos): Sales, P1,200,000; Variable costs: (a) Goods sold, P400,000 and (b) S&A Expenses, P100,000; Fixed costs: (a) Factory overhead, P110,000, and S&A Expenses, P80,000. Income tax rate is 15%. Determine the required peso sales to provide an after-tax net income of P150,000. a. P261,765b. P176,471c. P366,471d. P628,235
- PDF Advisory and Tax Services provides primarily two lines of service: Advisory and Tax. Advisory services represent 0.60 of its revenue and provide a contribution margin ratio of 0.30 Tax services represent 0.40 of its revenue and provide a 0.40 contribution margin ratio. The company’s fixed costs are $4,250,000. Required Compute the weighted average contribution margin ratio. Compute the total revenue required to break even. Calculate the revenue from each type of service that the company must achieve to break even.CVP; taxesHamlet House makes portable garden sheds that sell for $1,800 each. The tax rate for the company is 35 percent. Costs are as follows: Per Unit Total Direct material $800 Direct labor 90 Variable production overhead 60 Variable selling and administrative cost 50 Fixed production overhead $200,000 Fixed selling and administrative 60,000 a. If Hamlet House wants to earn an after-tax profit of $182,000, how many garden sheds must be sold? b. How many garden sheds must be sold to yield an after-tax profit of 8 percent of revenue?Note: Do not round until your final answer.Note: Round your final answer up to the nearest whole unit (for example, round 5.1 to 6 units). garden shedsc. How much revenue is generated from selling units calculated in part (b)? $AnswerTally Corp. sells tax software to aid individuals in completing their state and federal tax returns. During the current year, 11,000 software packages were sold resulting in $440,000 of sales revenue, $135,000 of variable costs, and $52,000 of fixed costs. If sales increase by $100,000: Total variable costs will Increase/decrease/stay the same by $ Total fixed costs will Increase/decrease/stay the same by $ Operating income will Increase/decrease/stay the same by $
- The NUBD Co. Sells Product A for P60 each. Variable costs are P36 per unit. Fixed costs are P375,000. 1. How much sales in units must be reached to realize a Net Income of P102,000 before income taxers? 2. How much sales in units must be reached to realize a Net Income of P97,500 after income taxes. Tax rate is 35%? 3. How much sales in pesos must be reached to realize a Net Income of 15% of sales? Ignore income taxes.Elliott Trophies makes three types of awards for organizations to give employees or team members. The following are its prices and costs: Price per Unit Variable Cost per Unit Units Sold per Year Sport $ 24 $ 16 36,000 Employee 80 60 9,000 Celebrity 656 516 3,000 Fixed costs of $432,000 per year include building and equipment costs, marketing costs, and the costs of administration. Elliott Trophies is subject to a 21 percent tax rate on income. Required: Given this information, how much will Elliott Trophies earn each year after taxes? Assuming the given sales mix is the same at the break-even point, at what sales revenue does Elliott Trophies break even? Assuming the given sales mix, at what sales revenue will the company earn $276,500 per year after taxes? Elliott Trophies is concerned about the future of the Celebrity trophy market, given recent cost-cutting by companies and is considering becoming more specialized in the Sport and Employee market. If Elliott…The following information pertains to Korning Corp.: Selling price per unit $ 670 Variable cost per unit $ 250 Total fixed costs $ 327,600 Income tax rate 35 % How many total units must be sold to obtain an after-tax profit (πA) of $47,775?
