With the following data, how many units must be sold to generate an operating income of $20,000? a. 800. b. 1,000. c. 2,500. d. 3,500. e. 4,000.
Q: Mastery Problem: The Accounting Cycle. Chandler, Inc. Chandler, Inc. is owned by Roscoe Chandler and...
A: The temporary accounts are closed to income summary at the year-end.
Q: 1. Complete the table. ORIGINAL PRICE TRADE DISCOUNT DISCOUNT RATE DISC PR Php6,500 Php1,200 Php500 ...
A: Discount Allowance/Trade discount: The term allowance contains many meanings. The allowance is a dis...
Q: are my entries right ? how do we solve this?
A: Adjusting entries are prepared at the end of the accounting period in order to ensure the accrual ba...
Q: Legacy Company completed 200 units of customized jewelry. The product cost per unit: ...
A: In case, there is any quality issue, the job is consistent to be incomplete. In this case, the cost ...
Q: Rifhan products use straight-line depreciation on all its depreciable assets. The accounts are adju...
A: Depreciation:- Depreciation is defined as the monetary value of particular asset which is decrease d...
Q: Return Ratios and Leverage The following selected data are taken from the financial statements of Re...
A: Financial ratios are used to track company performance by performing quantitative analysis and asses...
Q: Journalize the following transactions for the month of July: July 1 K. Elliot deposited $10,000 i...
A: Supplies on account=1000-500=$500
Q: I could really use some help with this one
A: Overheads are the expenditure which cannot be conveniently traced to or identified with any particul...
Q: PROBLEM 4The following are the balances of LITTLE Company and BOY Company as of January 1, 20x1. Dia...
A: Particulars Dianne Company Corpuz Company Total Purchased- Assets at FV 4200000 2900000 7100000...
Q: International House Corporation (IHC) began operations this year. The company retains property losse...
A: Retained loss is the losses that is being retained by the company over a period of time.
Q: Subject management accoun Please help solve all.. please A company is planning to purchase 90,800 un...
A: EOQ= It shows the sufficient amount of units which should be ordered to minimize the total amount of...
Q: General Purpose Financial Statements The following Trial Balance relates to Banco Community College,...
A: Working Notes:
Q: On January 1, 2014, Borstad Company purchased equipment for $1,150,000. It is depreciating the equip...
A: Impairment: Impairment is a situation when assets fair value as a comparison to assets carrying valu...
Q: The partnership of Liam, Noah, and Oliver has been in business for 25 years. On February 11th, 2021,...
A: Retirement of partner: Retirement of a partner means retiring of the partner from the firm. Due to r...
Q: Trying to calculate the net income/loss for both charts
A: When in a worksheet a company has more Credit amounts in comparison to Debit amounts under the Incom...
Q: How much is an asset with expected annual cashflows of $19,000 for 11 years worth today, if the appr...
A: Present value considers the time value of money concept. It considers the discounting factor at whic...
Q: CAIRNE issued 30,000 shares of P100 stated value in exchange for land and factory building with tota...
A: It is given that total fair value of land and factory building is P9 million but buildings & lan...
Q: Identify whether each of the following accounts is permanent or temporary A. Accounts Receivable B....
A: The post-closing trial balance is prepared after all the adjustment entries and closing entries. Und...
Q: Chen company has current assets equal to $5000000. Of these $1000000 is cash $2250000 is accounts re...
A: Quick ratio = Liquid Assets / Current Liabilities
Q: Accounting Question
A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate t...
Q: Jones is suspected of carrying out a fraud while working for his employer. Jones has worked for the ...
A: Given: Jones is suspected of carrying out a fraud while working for his employer. Jones has worked f...
Q: Need these answered asap! 1) Taking home used office printers when the company purchases new equipme...
A: Gross Income:-In case of individual gross income includes all incomes from wages and salaries plus o...
Q: You are given the following information regarding UFSK limited, a listed entity. Number of outs...
A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If y...
Q: a. to determine the ACA for the joining entity's asset Incorrect b. to spread the ACA over the joini...
A: TCSA (Tax collected at Source of Assets) and ACA (Affordable Care Act) are two tax provisi...
Q: I need the exact format that is provided to fill it out please...
A: Step 1 Financial Statements are the reports which provide the entity's financial information in summ...
Q: Semona Bank would like to determine the price to charge for customer services and which classes of c...
A: Following is the direct customer profitability analysis: Calculation:
Q: Annette, a resident has a dependant spouse with an adjusted taxable income of $30 000 and three depe...
A: Annette, a resident has dependent spouse with adjusted taxable income = $30000 Also has three depend...
Q: Rifhan products use straight-line depreciation on all its depreciable assets. The accounts are adju...
A: Depreciation means the loss in value of assets because of usage of assets , passage of time or chang...
Q: Shalimar Group of Industries reports the following information concerning cash balances and cash tra...
A: In case, bank passbook balance does not match the balance with cash book, the bank reconciliation st...
Q: A limited liability company sells its share capital on the stock exchange. It currently has a share ...
A: Limited liability companies are referred to as a type of company under which the owners of the compa...
Q: Winnie Company showed a cash account balance of Php 5,000,000 at the month-end. The bank statement...
A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with...
Q: How is the accounting cycle different for a merchandising operation, as compared to a service busine...
A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,...
Q: The company has within recent years been experiencing increases in revenues from its construction re...
A: Current ratio: It is a liquidity ratio that defines a company's ability to pay its current liabiliti...
Q: The maximum depreciation deduction allowed in 2018 for a luxury automobile placed in service in 2018...
A: Given information, A luxury automobile is placed in the service in 2018 (100% used in the Business)...
Q: On July 1. a dient paid an advance payment (retainer) of $6,500 to cover future legal services. Duri...
A: There are a number of methods on revenue recognition of service contracts like completed contract me...
Q: Ryan, Maria and Mike are partners in a law firm. The partnership earned $1,200,000 net profit during...
A: Partnership businesses are not subject to taxation in compliance with IRS rules; instead, partners a...
Q: Allocate the service cost using the Direct method.
A: The following computations are done for the allocation of service costs to the respective revenue de...
Q: Allowance for Doubtful Accounts has a credit balance of $670 at the end of the year (before adjustme...
A: Bad debt expense = Estimated Uncollectibles +/- Debit/Credit Balance of Allowance for Doubtful Accou...
Q: Why should the production requirements set forth in the production budget be carefully coordinated w...
A: The production requirements are efficiently coordinated with the sales budget to ensure smooth manuf...
Q: What is Leah's Social Security taxable wage amount for this pay period? (Not the amount of actual So...
A: Medicare: Medicare is one of the two components of FICA (Federal Insurance Contributions Act) tax. M...
Q: Convertible Preferred Stock, Convertible Bonds, and EPS Francis Company has 24,000 shares of common ...
A: As per Bartleby guidelines, we are allowed to answer only first 3 questions
Q: Kohinoor Agency. operates a talent agency called Kohinoor Agency. Some clients pay in advance for s...
A: Adjusting entries are those important entries which are adjusted at the year end to make accurate fi...
Q: Kindly answer the image below
A: Assets = Liabilities + Stockholders' Equity Any expense paid in advance is an asset.
Q: During the current year, Matrix Homes disposed of plant assets in the following transactions: Februa...
A: Answer:
Q: Looking for answers! Please include the calculation for my reference. Thanks in advance.
A: Consignment is the process where goods are sent by owner(consignor) to agent (consignee) for further...
Q: You bought a television for $1000 using an installment plan. You plan to pay it off in two years. Ho...
A: Monthly installment = Total amount to be paid / Present Value of Annuity (i%, n periods)
Q: A computer with software costs $2,941, and Catherine Stevens has agreed to pay a 17% per year financ...
A: Given, Cash price of computer = $ 2,941 Rate per 18 months = 0.17/12 * 18 = 25.5%
Q: In Year 1, a company has revenues of $600,000 and expenses of $400,000. Of theexpenses, $70,000 repr...
A: Here, in this question, first, we have to calculate the adjusted income for the year after consideri...
Q: Assume a company's Income Statement for Year 9 is as follows: Year 9 Income Statement Data Total Rev...
A: Formula: Interest coverage ratio = Operating profit / Interest expense Division of operating profit ...
Q: BURKAY casting factory wants to buy a furnace to meet their increasing production demands. As a resu...
A: Future Value: The Future value is calculated using the cost of capital or interest rate prevailing i...
With the following data, how many units must be sold to generate an operating income of $20,000?
a. 800.
b. 1,000.
c. 2,500.
d. 3,500.
e. 4,000.
Step by step
Solved in 2 steps
- Division A of Kern Co. has sales of $350,000, cost of goods sold of $200,000, operating expenses of $30,000, and invested assets of $600000. What is the return on investment for Division A? A. 20% B. 25% C. 33% D. 40%During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000, 000. What is the sales margin?A companys contribution margin per unit is $25. It the company increases its activity level from 200 units to 350 units, how much will its total contribution margin increase? A. $1,250 B. $3,750 C. $5.000 D. $8,750
- 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?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. 11,200Olivian 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.)
- With the following data, how many units must be sold to generate an operating income of $20,000?Fixed expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $40,000Selling price. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $50 per unitContribution margin ratio . . . . . . . . . . . . . . . . . . . . . . . . . . 30% a. 800.b. 1,000.c. 2,500.d. 3,500.e. 4,000.Oslo company prepared the following contrubition format income statement based on a sales volume of 1,000 unites (the relevant range of production is 500 units to 1,500 units). Sales.... $20,000 Variable expenses ... 12,000 Contribution margin .... 8,000 Fixed expenses ... 6,000 Net operating income... $2,000 4) If the sales increase to 1,001 units, what would be the increase in net operating income ? 5) If sales decline to 900 units , what would be the net operating income? 6) If selling price increases by $2 per unit and the sales volume decreases by 100 units , what would be the net operating income ?The Titan Company provides you with the following information for the current year: Revenues = $2,000,000Cost of goods sold = $750,000 (2/3 of this amount varies with the number of units produced)S&A costs = $200,000 (1/2 of this amount is fixed)Selling price = $40 per unit The company sold 50,000 units of their product in the current year. The company expects unit sales of their product to increase 20% in the next year. Based on the information above, what would be the expected increase to profit before taxes in the coming year?
- Give what is being asked?1. If total cost and Expenses is P300,000 at breakeven point how much is the total sales?2. The unit selling price of a product is P20, if the total sales for the month is 5,000 units and this is the breakeven point sales volume.Answer question A-C with yes or no.a. Will there be an income in case 6,000 units were sold?b. Will be there be an income in case 4,000 units were sold?.c. If additional units were sold after selling 5,000 units will there be an income?d. How much is the total cost and expenses if 5,000 units were sold?Waterway’s CVP income statement included sales of 4500 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $110000. Net income is $180000. $160000. $450000. $70000.Jasin Company projected operating income ( based on sales of 450,000 units ) for the coming year as follows : Required 1) Mr. Jasin expects the company to earn an operating income of RM296,400 . Estimate the number of units that must be sold 2)Estimate the additional operating income that Mr. Jasin would earn if sales were RM50,000 more than expected .
