What is your net dollar sales projection for this year? Net sales
Q: You work as a freelance accounting professional and have been recently engaged by the auditors of…
A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…
Q: ood day could you please resend. the calculation is not in for the trail balance. The formula is…
A: Trial balance is a report used to make sure that all the transactions are recorded in accordance…
Q: November -The business, Miraflor Proprietorship, was registered as a single propr with the…
A: COA stands for chart of accounts (COA) which is tool of accounts or finance that index of each and…
Q: On January 1, 2025, Windsor Corporation purchased 20% of the common shares of Sheridan Company for…
A: Journa entry is a primary entry that records the financial transactions initially. The transactions…
Q: Tsuna wants to buy a luxurious ring worth P270,000. He can pay 30% of the price as down payment and…
A: Lets understand the basics. For answering this question, we are required to calculate equated…
Q: During the year, IM Co. had sales of $900,000 including cash sales of $200,000 and $700,000 on…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: The following account balances were included in the trial balance of Bramble Corporation at June 30,…
A: INCOME STATEMENT Income Statement is one of the important financial statement of the company.…
Q: What is the share of B in the maximum possible loss on January 31, 2021?
A: Statement showing computation of maximum possible loss of partners Date Particulars Amount…
Q: 10. Faye Faye Corporation's statement of financial performance for the year ended December 31, 20X2,…
A: The expenses or income reported in the accounting records of a business is generally different…
Q: LO.2Leonard’s home was damaged by a fire. He also had to be absent from work for several days to…
A: Gross Income: - Gross income refers to the total income of an individual before deducting any…
Q: Golden Corporation's current year income statement, comparative balance sheets, and additional…
A: Spreadsheet of Cash Flow - This statement is prepared using beginning and ending balance of balance…
Q: Sheffield Shop had a balance in the Accounts Receivable account of $751000 at the beginning of the…
A: The average collection period measures how long it typically takes a company to collect and turn its…
Q: The Kollar Company has a defined benefit pension plan. Pension information concerning the fiscal…
A: Pension expense is referred to the amount that a business charges for expenses and is related to its…
Q: Bailey Company manufacturers and sells one product for $39 per unit. The company maintains no…
A: The fixed manufacturing costs do not change with change in level of production. For incremental cost…
Q: An electronics firm is currently manufacturing an item that has a variable cost of $0.60 per unit…
A: The question is based on the concept of Cost Accounting. Variable cost remains same on per unit…
Q: bank reconciliation
A: Bank reconciliation statement is required to be prepared when the bank balance and cash cash is not…
Q: deposits of money into a bank?
A: Financial instruments are essentially monetary contracts between two or more parties. They could be…
Q: Bill’s Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $1,550,…
A: The balance sheet also known as the statement of financial position summarises a corporation's…
Q: Answer the two questions please 1- You are planning to withdraw $100 in Year 1, $150in Year 3, and…
A: Hi student Since there are multiple questions, we will answer only first question. Present value…
Q: A partially completed pension spreadsheet showing the relationships among the elements that…
A: Please fallow the answer below: Requirement :1: ( )s indicate credits; debits otherwise…
Q: Sam Inc. issues 1,000 shares of $5 par value common stock when 500 shares of $30 par value preferred…
A: JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the Process…
Q: 2. The following data refers to the 2022 year-end account balances for Mastermind. However, the…
A: The balance sheet is prepared at the end of the accounting period to show the financial position of…
Q: An investor bought 720 shares of a stock for Php 108.26 per share. If the broker's commission was…
A: Issue of shares is one of the important source of finance being used in business. Commission may…
Q: During the current year, the following transactions occurred The company issued to the stockholders…
A: The balance sheet is the performance sheet of the company. It is made by the company for some…
Q: A European candy manufacturing plant manager must select a new irradiation system to ensure the…
A: Annual worth or AW analysis is the project evaluation technique in which the first cost or initial…
Q: problem 5-1 analyzing permanent and temporary capital accounts
A: Answer:- Accounts meaning:- A thorough record of every dollar that a person or business receives…
Q: Nora invested $8,000 in a qualified tuition program for the benefit of her son. Four years later her…
A: Gross Income: Gross income is the summation of income from all the sources before making any…
Q: earnings management continuum
A: Earnings management continuum means techniques to manage earnings range across a broad continuum. It…
Q: a. How many shares could you buy for $5,000? (Round down your answer to the nearest whole number.)…
A: Dividend income is any transfer of assets from a firm to its shareholders, according to the IRS.…
Q: Given the following trial balance, create the Income Statement, Statement of Changes in Equity, and…
A: The financial statement shows the company's performance profitability and position of the company…
Q: Purchase of furniture is a cash outflow from activity in a cash flow statement. A. operating B.…
A: INTRODUCTION: A cash flow statement shows how much money enters and leaves your organization in a…
Q: (a) Compute pension expense for the year 2025. Pension expense for 2025 $
A: A pension plan is a plan devised by corporations to pay employees an income after their retirement…
Q: On January 1, 2025, Cheyenne Company purchased 12% bonds having a maturity value of $278,000 for…
A: Bond: A bond is a type of debt financial instrument with a maturity of two years or more.…
Q: The transactions of Belle Company’s appear below. D. Belle created a new business and invested…
A: Journal entries are used to record the financial transactions in the books of accounts. It is the…
Q: major disclosure requirements for revenue accounts, capital. assets and liabilities
A: ANSWER:- For revenue accounts, companies typically need to disclose the amount of revenue…
Q: Question 7) The following accounts are from Patty's Paws Co. at December 31, 2022. $235,800…
A: Lets understand the basics. There are various stages through which statement of financial position…
Q: Assume Organic Ice Cream Company, Inc., bought a new ice cream production kit…
A: Lets understand the basics. In straight line basis depreciation is calculated in equal installments…
Q: Assume that on May 1, 2022, Austin Company issues, at 106 plus accrued interest, 10-year bonds with…
A: The accrued interest is the short term or current liability for the business. It reported in the…
Q: Exercise 1-34 (Algo) Cost Data for Managerial Purposes-Budgeting (LO 1-3) Assume that The AM Bakery…
A: BUDGETING Budgeting is a Forcast of Data for a future period. Budget is must be prepared before…
Q: bank reconciliatio
A: Bank reconciliation statment is the account that is prepared by the company when the balace of cash…
Q: Which of the following is an appropriate responsibility of the board?
A: The board is responsible for overseeing the internal audit function and ensuring that it is…
Q: In response to a growing awareness of gluten allergies, Blossom Bakery tried using gluten-free flour…
A: The contribution margin is calculated as difference between sales and variable costs. The operating…
Q: This cannot be correct: I have options of this a. (i) only b. (ii) only c. (iii) only d. (i)…
A: As per the business combination standard (IFRS 3) only acquisition method will be used for…
Q: P19.5 (LO.3) Groupwork (Recognition of NOL) Jennings plc reported the following pretax income (loss)…
A: One of the three key financial statements that summarise a company's financial performance over a…
Q: P1-1C. The following are incomplete financial statements for Good Home Hardware. Calculate the…
A: Accounting statements The year-end records that are maintained by a company are classified as…
Q: compute the total carrying amount of Oriole's patents on its December 31, 2025, balance sheet.…
A: Patents refers to the rights that one have on their own unique invention and which ristrict others…
Q: Indigo Corporation currently leases a processing machine. They believe they can reduce their total…
A: Ans. They need fewer than 8,000 units
Q: Why do managers consider Direct Coasts to be more accurate than Indirect Costs? How do managers…
A: Direct costs are the costs which are directly identifiable in the manufacturing process. Indirect…
Q: The trial balance of Eastwood Inc. and other related information for the year 2023 follows: Cash…
A: Business entities prepare the statement of financial position so as to know about the financial…
Q: n preparing a bank reconciliation, what is the proper treatment of an NSF check?
A: A not-sufficient fund (NSF) check is one of the checks that has not been cleared by the bank of the…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Macom Manufacturing has total contribution margin of $61,250 and net income of $24,500 for the month of June. Marcus expects sales volume to increase by 10% in July. What are the degree of operating leverage and the expected percent change in income for Macom Manufacturing? 0.4 and 10% 2.5 and 10% 2.5 and 25% 5.0 and 50%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?Margin of safety Jorgensen Company has sales of 380,000,000, and the break-even point in sales dollars is 323,000,000. Determine Jorgensen Companys margin of safety as a percent of current sales.
- Ranger Industries has provided the following information at June 30: Other information: Average selling price, 196 Average purchase price per unit, 110 Desired ending inventory, 40% of next months unit sales Collections from customers: In month of sale20% In month after sale50% Two months after sale30% Projected cash payments: Inventory purchases are paid for in the month following acquisition. Variable cash expenses, other than inventory, are equal to 25% of each months sales and are paid in the month of sale. Fixed cash expenses are 40,000 per month and are paid in the month incurred. Depreciation on equipment is 2,000 per month. REQUIREMENT You have been asked to prepare a master budget for the upcoming quarter (July, August, and September). The components of this budget are a monthly sales budget, a monthly purchases budget, a monthly cash budget, a forecasted income statement for the quarter, and a forecasted September 30 balance sheet. The worksheet MASTER has been provided to assist you. Ranger Industries desires to maintain a minimum cash balance of 8,000 at the end of each month. If this goal cannot be met, the company borrows the exact amount needed to reach its goal. If the company has a cash balance greater than 8,000 and also has loans payable outstanding, the amount in excess of 8,000 is paid to the bank. Annual interest of 18% is paid on a monthly basis on the outstanding balance.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.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?
- Schylar Pharmaceuticals, Inc., plans to sell 130,000 units of antibiotic at an average price of 22 each in the coming year. Total variable costs equal 1,086,800. Total fixed costs equal 8,000,000. (Round all ratios to four significant digits, and round all dollar amounts to the nearest dollar.) Required: 1. What is the contribution margin per unit? What is the contribution margin ratio? 2. Calculate the sales revenue needed to break even. 3. Calculate the sales revenue needed to achieve a target profit of 245,000. 4. What if the average price per unit increased to 23.50? Recalculate: a. Contribution margin per unit b. Contribution margin ratio (rounded to four decimal places) c. Sales revenue needed to break even d. Sales revenue needed to achieve a target profit of 245,000Wallace Industries has total contribution margin of $58,560 and net income of $24,400 for the month of April. Wallace expects sales volume to increase by 5% in May. What are the degree of operating leverage and the expected percent change in income for Wallace Industries? 0.42 and 2.2% 0.42and5% 2.4andl2% 2.Sandl3%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.
- 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.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.Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods is 42,500, and ending inventory of finished goods is expected to be 34,000. Required: 1. Prepare a statement of cost of goods sold in good form. 2. What if the beginning inventory of finished goods decreased by 5,000? What would be the effect on the cost of goods sold?