3.1 Expected total Marginal Income and Net Profit/Loss
Q: The market value of the company's equity for 2022 is: Multiple Choice…
A: We need two crucial pieces of data to establish the market value of a company's equity:The current…
Q: [The following information applies to the questions displayed below.] A manufactured product has the…
A: The standard cost per unit include materials, labor and overhead costs. The variance can be…
Q: Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc.…
A: Business entities prepare the income statement so as to determine the net profit earned by them…
Q: f this year Eloise Ltd. had sales of $750,000, fixed costs of $150,000, and variable costs of…
A: The break-even sales are calculated as the fixed costs divided by the contribution margin ratio. The…
Q: 1. 2. 3. Bonds, the proceeds of which were to be used for the construction of a new City Hall, were…
A: Governmental accounting funds encompass distinct entities used to manage and track public resources.…
Q: Use the following information for the Quick Study below. (Algo) [The following information applies…
A: An estimated or projected or sales value and cost estimate can be included in a budget that is…
Q: Noble Chemical has spent $240,000 to refine 71,000 gallons of acetone, which can be sold for $2.30…
A: Sunk Cost:Cost that has already been incurred and will not change irrespective of any further…
Q: Members of the local Oriole club benefit from two key support services provided by Oriole's global…
A: Under Step method, the costs of one service department is allocated to production departments and…
Q: Spherical Manufacturing recently spent $16 million to purchase some equipment used in the…
A: Dear student, as per Bartleby's guidelines, when multiple sub-parts are asked in the same question,…
Q: Assume that a company provided the following excerpts of information from its flexible budget…
A: Organizations can evaluate how changes in activity levels affect costs and performance by using…
Q: A product sells for $30 per unit and has variable costs of $18.00 per unit. The fixed costs are…
A: At Break even point total contribution margin will be equal to total fixed cost. Thus at break even…
Q: c. Jimmer opened the Roth account 76 months before he withdrew the $21.500, and Jimmer is age 62.…
A: A Roth IRA is a type of retirement savings account in which individuals can contribute after-tax…
Q: Marvel Parts, Incorporated, manufactures auto accessories. One of the company's products is a set of…
A: The variance is the difference between the standard and actual cost data. The variance can be…
Q: Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made…
A: A cash budget is prepared to estimate the total cash received and total cash disbursed by the…
Q: Exercise 17-30 (Static) Sales Mix and Quantity Variances (LO 17-4) Olivet Devices sells two models…
A: Variance arises when there is difference between actual costs and standard costs.The variance is…
Q: During 2024, Ryabova entered into the following transactions relating to shareholders' equity. The…
A: EPS stands for Earning per share. It is a method which is used by investors to know the attributable…
Q: A company decides to obtain a small-business loan of $200,000. The financial institution from which…
A: The loan is taken when an entity needs money. The borrower makes an interest payment to the lender.…
Q: Novak is the primary provider of spirit apparel for many high schools. Management has been…
A: Sales price variance is the difference between the actual selling price and the budgeted selling…
Q: Pretzel Corporation owns 60 percent of Stick Corporation's voting shares. On January 1, 20X2,…
A: Answer:- Investment means an asset purchased in expectation of earning a return on such investment…
Q: Exercise 14-4 (Algo) Uncertain Future Cash Flows [LO14-4] Lukow Products is investigating the…
A: The question is related Capital Budgeting. The Net Present value is the excess of Present Value of…
Q: On January 1, Year 1, the Diamond Association issued bonds with a face value of $210,000, a stated…
A: The amount of discount on the issue date is determined by deducting the selling value from the face…
Q: Required: Compute each of the following amounts. 1. The number of pounds of pineapple that result as…
A: Costs are gathered by department rather than by work in process costing.. This approach is often…
Q: The following amounts were reported on the December 31, 2022, balance sheet: Cash Land Accounts…
A: Current ratio is the ratio between current assets and current liabilities. It is calculated by…
Q: Analyzing and Distributing Cash Dividends to Preferred and Common Stocks Moser Company began…
A: Dividend Declaration in Cumulative Preference SharesOver ordinary stockholders, preference…
Q: Listed here are three separate series of costs measured at various volume levels. Volume (Units)…
A: Variable cost per unit is fixed it doesn't change with change in units Where as total fixed cost is…
Q: Sales revenue Variable cost of goods sold Fixed cost of goods sold Gross profit Variable operating…
A: The profitability of a particular business segment within a company is known as segment margin, and…
Q: Reference is made to the 2022 Balance Sheet of Tram-Ropes limited. Tram-Ropes Limited Balance Sheet…
A: The objective of the question is to calculate the total market value of the firm's capital…
Q: QUESTION 2 When the cost of lost units must be assigned, and those some units must be included in…
A: Process costing is one of useful form of costing being used in business. Under this, equivalent…
Q: Carol Components operates a Production Division and a Packaging Division. Both divisions are…
A: Transfer price methodology are the methods or techniques which are used for determining prices for…
Q: Benoit Company produces three productsA, B, and C. Data concerning the three products follow (per…
A: Lets understand the basics.Contribution margin is a margin generated on sale of each and every unit.…
Q: The Thompson Corporation, a manufacturer of steel products, began operations on October 1, 2022. The…
A: The process of debiting the asset's cost and crediting a depreciation account is known as…
Q: In March 2024, Price Company began developing a new software system to be used internally for…
A: In accordance with accounting standards on Intangible Assets (Intangible Assets), the capitalization…
Q: In order to help the audit team assigned to the audit of a major client's property, plant and…
A: Financial statement assertions are the representations or claims made by management regarding the…
Q: TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried…
A: Standard Price = $2.70 per pound Standard quantity of material allowed = SQ produced ×…
Q: TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried…
A: The Direct Materials Price Variance is the difference between the actual and standard price per unit…
Q: (a) Prepare Culver's cash flows from operating activities section of the statement of cash flows…
A: The Cash Flow Statement is summary of Cash Receipts and Cash Payments. There are two methods of for…
Q: Butch (Stinky) Rose's counterfeit Chanel No. 22.5 racket has run into difficulties: It seems that…
A: Stinky's profit function, P(x), represents the profit he makes based on the quantity of perfume he…
Q: A company decides to obtain a small-business loan of $237,000. The financial institution from which…
A: The money can be borrowed and repaid in installments. The interest and principal portions are paid…
Q: 30-day billing cycle Previous balance 9/16 Billing date 9/19 Payment 9/30 Charge: Home Depot 10/3…
A: Average daily balance is an accounting method. It is used by the credit card issuers. It is used to…
Q: Profitability and the Income Statement Presented below is income statement data for Short & Company…
A: Return on sales is a crucial metric for assessing a company's ability to generate profit from its…
Q: Required information [The following information applies to the questions displayed below.] Rubio…
A: Lets understand the basics.The income generated by a taxpayer from sources other than employment…
Q: Given the following case, calculate the independent effects of a 1 percent increase in Gross Margin,…
A: A profitability metric called net income counts the remaining profits a business has after deducting…
Q: The standard cost of Product B manufactured by Sheridan Company includes 2.2 units of direct…
A: Direct material variance :— It is the difference between standard direct material cost for actual…
Q: Glimmer Pools purchased $50,000 of 7% AKL bonds on January 1, 2021, at a price of 104 2 when the…
A: Journal entries are a fundamental aspect of accounting, used to record financial transactions in a…
Q: Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for…
A: For 2023, the total contributions you make each year to all of your traditional IRAs and Roth IRAs…
Q: Q.1 Compare your cost allocations from the direct and reciprocal methods. omment on how similar or…
A: There are different methods for allocation of service department costs over the production…
Q: Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied…
A: According to the question given, we need to compute the gross profit, and, total inventory.Gross…
Q: At 31 July 20X6, Helios International had non-current assets which had cost $310,000. At the same…
A: Lets understand the basics.Business organization charge the depreciation expense in their books of…
Q: Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation-equipment Total…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: A. Cara. Fatima and Zabra are sharing income and loss in a 1.2.2 ratio respectively and decided to d…
A: There are two questions asked by the student and as per our protocol only the first question about…
Use the information given below to calculate each of the following independently
3.1 Expected total Marginal Income and Net
Slumber Limited manufactures beds. The following information was extracted from the budget for 2024:
Expected production and sales (units) 1 200
Selling price per bed R6 000
Direct materials cost per bed R1 700
Direct labour cost per bed R860
Variable
Fixed manufacturing overheads cost R1 084 800
Sales commission (as a percentage of the selling price) 20%
Fixed administrative and selling costs R720 000
PLEASE PUT THE ANSWER IN RANDS
Step by step
Solved in 3 steps
- Use the information given below to calculate each of the following independently 3.3 Break-even quantity if the selling price drops by 10% INFORMATIONSlumber Limited manufactures beds. The following information was extracted from the budget for 2024:Expected production and sales (units) 1 200Selling price per bed R6 000Direct materials cost per bed R1 700Direct labour cost per bed R860Variable manufacturing overheads cost per bed R320Fixed manufacturing overheads cost R1 084 800Sales commission (as a percentage of the selling price) 20%Fixed administrative and selling costs R720 000 PLEASE PUT THE ANSWER IN RANDSCullumber Company has the following information available for September 2020. Unit selling price of video game consoles $490 Unit variable costs $294 Total fixed costs $92,120 Units sold 600 Compute the unit contribution margin. Unit contribution margin enter the unit contribution margin Prepare a CVP income statement that shows both total and per unit amounts. CULLUMBER COMPANYCVP Income StatementFor the Month Ended September 30, 2020 Total Per Unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a dollar amount $enter a dollar amount select an income statement item Administrative ExpensesContribution MarginCost of Goods…Kirchoff, Inc., manufactures a product with the following costs: Direct materials Per Unit Per Year P18.00 Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable SG&A expenses P11.90 P2.10 P1,422,000 P3.60 Fixed SG&A expenses The pricing calculations are based on budgeted production and sales P1,540,500
- How many units must be sold if the company wishes to earn a net profit of R298 920. INFORMATIONSamcor Limited manufactures tables. The following information was extracted from the budget for the year ended 30 June 2022:1. Total production and sales 2 400 units2. Selling price per table R1 2003. Variable manufacturing costs per table:Direct material R288Direct labour R192Overheads R964. Fixed manufacturing overheads R216 9605. Other costs:Fixed marketing and administrative costs R144 000Sales commission 5%A.Prepare Statement of Income and Expenses with a marginal contribution approach. Empresas La Torre presents the following information for the year ended December 31, 2020: Product Costs: Direct materials (Variables) $ 50.00 per unit Direct Labor (Variable) $ 20.00 per hour Variable Indirect Costs $ 10.00 per hour Total Fixed Indirect Costs $ 250,000 Period Expenses Seller Commissions $ 20.00 per unit Variable Administrative Expenses $ 30.00 per unit Total Fixed Administrative Expenses $ 150,000 The company sells solar batteries at $ 200.00 per unit. Making each battery takes 2 hours of direct labor. The company taxes its income at 40%. If the Company sells 10,000 units, prepare a statement of income and expenses using the marginal contribution approach.Calculate the total Marginal Income and Net Profit/Loss if all the tables are sold. INFORMATIONSamcor Limited manufactures tables. The following information was extracted from the budget for the year ended 30 June 2022:1. Total production and sales 2 400 units2. Selling price per table R1 2003. Variable manufacturing costs per table:Direct material R288Direct labour R192Overheads R964. Fixed manufacturing overheads R216 9605. Other costs:Fixed marketing and administrative costs R144 000Sales commission 5%
- Carla Vista Company has the following information available for September 2020. Unit selling price of video game consoles $400 Unit variable costs $240 Total fixed costs $54,400 Units sold 600 (A) Compute the unit contribution margin. Unit contribution margin enter the unit contribution margin (B) Prepare a CVP income statement that shows both total and per unit amounts. CARLA VISTA COMPANYCVP Income StatementFor the Month Ended September 30, 2020 Total Per Unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a dollar amount $enter a dollar amount select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed…Sheridan Bucket Co., a manufacturer of rain barrels, had the following data for 2021: Sales quantity Unit selling price Unit variable costs Fixed costs (a) 2,200 barrels $75 per barrel $45 per barrel $18,480 What is the contribution margin ratio? Contribution margin ratio %Use the marginal income ratio to calculate the break-even value. INFORMATIONSamcor Limited manufactures tables. The following information was extracted from the budget for the year ended 30 June 2022:1. Total production and sales 2 400 units2. Selling price per table R1 2003. Variable manufacturing costs per table:Direct material R288Direct labour R192Overheads R964. Fixed manufacturing overheads R216 9605. Other costs:Fixed marketing and administrative costs R144 000Sales commission 5%
- Sheridan Company has the following information available for September 2020. Unit selling price of video game consoles Unit variable costs Total fixed costs Units sold Compute the unit contribution margin. Unit contribution margin eTextbook and Media $400 $320 eTextbook and dedic $25,600 600 Prepare a CVP income statement that shows both total and per unit amounts. SHERIDAN COMPANY CVP Income Statement For the Month Ended September 30, 2020 Total $ S Per UnitCarla Vista Company has the following information available for September 2020. Unit selling price of video game consoles $400 Unit variable costs $240 Total fixed costs $54,400 Units sold 600 Prepare a CVP income statement for the break-even point that shows both total and per unit amounts. CARLA VISTA COMPANYCVP Income StatementFor the Month Ended September 30, 2020 Total Per Unit select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs $enter a dollar amount $enter a dollar amount select an income statement item Administrative ExpensesContribution MarginCost of Goods SoldFixed CostsGross ProfitNet Income/(Loss)SalesSelling ExpensesVariable Costs enter a dollar amount enter a…using the information below answer 3.1 and 3.2 3.1 Calculate the total Marginal Income and Net Profit/Loss if all the tables are sold. 3.2 Use the marginal income ratio to calculate the break-even value. INFORMATIONSamcor Limited manufactures tables. The following information was extracted from the budget for the year ended 30June 2022:1. Total production and sales 2 400 units2. Selling price per table R1 2003. Variable manufacturing costs per table: Direct material R288 Direct labour R192 Overheads R964. Fixed manufacturing overheads R216 9605. Other costs: Fixed marketing and administrative costs R144 000 Sales commission 5%
