Assume a selling price of $6.50, variable cost of $4.20, fixed cost are $5,800, and the company needs to achieve a minimum pre-tax profit of $9,500. What is the required sales level to achieve needed to achieve this? Make sure to show your work and provide a description.
Q: AirQual Test Corporation provides on-site air quality testing services. The company has provided the…
A: Flexible Budget:- A flexible budget is a type of financial budget that adjusts for changes in…
Q: A corporate charter specifies that the company may sell up to 20 million shares of stock. The…
A: Treasury stock is the outstanding stock repurchased by the company. Total outstanding shares =…
Q: Calculate the IRR for a project with an initial outlay of $ 10,000 resulting in a cash inflow of $…
A: Internal Rate of Return (IRR) is a financial metric used to measure the profitability of an…
Q: Oering's Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent year, it…
A: Statement of cash flows presents the flow of cash for a company in three different categories: 1.…
Q: Crane Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA).…
A: Minimum selling price=Variable cost of goods sold per unit+Variable selling and administrative…
Q: 3. Financial information that is capable of making a difference in a decision is a. faithfully…
A: Fundamental qualities of financial information should be: 1. Relevance 2. Faithful representative.
Q: At 12/31/21, the end of Bell Company's first year of business, inventory was $158,800 and $157,900…
A: Inventory Valuation: Inventory is valued at a lower cost or net realizable value.
Q: Discuss the evolution of accounting theory and its impact on the development of financial reporting…
A: Accounting theory has progressed from a basic recording of transactions to a complicated system that…
Q: GolfGear & More, Incorporated is a regional and online golf equipment retailer. The company reported…
A: Cash Flow Statement - Statement of Cash flow includes inflow and outflow of cash during the…
Q: Reconcile the net profits for February Comment on the differences of the two systems with respect…
A: The net profit under the absorption costing method and marginal costing show a different amount due…
Q: A local accounting firm employs 27 time professionalsThe budgeted annual compensation per employee…
A: Direct labor means the amount of money incurred for the payment of the employees and workers. It is…
Q: The balance in the Prepaid Rent account before adjustment at the end of the year is $24,000, which…
A: Adjusting entry is the one which is shown in the books at the end of the period. It is reported to…
Q: Examine the role of judgment and discretion in accounting and discuss the challenges in achieving…
A: Financial statements are formal records that present the financial performance, position, and cash…
Q: Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in…
A: The retained earnings are increased with net income and decreased with dividend declaration and…
Q: A firm expects to sell 11,500 units. The expected variable cost per unit is $314 and the expected…
A: Operating cash flow includes all cash generated by a company's main business activities.
Q: Amada Company's standard cost system reports this information from its December operatie $ 106,000…
A: A journal entry is a financial transaction recorded in a company's accounting records. It involves…
Q: Required: 1. Compute the debt-to-assets ratio and times interest earned ratio for 2019 and 2018 2-a.…
A: Ratio analysis used identify the business performance of the company. It is used to measure…
Q: On May 3, Zirbal Corporation purchased 8,500 shares of its own stock for $93,500 cash. On November…
A: Treasury stock: Shares which are bought back by the company from the open market but not retired…
Q: On June 1. Carla Vista Co. Ltd. borrows $108,000 from Acme Bank on a 6-month, $108,000, 4% note. The…
A: Journal entries are the primary reporting of the business transactions in the books of accounts.…
Q: Determine the consolidated balances for the following accounts: (Input all amounts as positive…
A: The value of consolidated sales balance is arrived as below: ProForm Sales $800,000…
Q: Direct materials Work in process Finished goods $ January 1, 2017 9,400 $ 6,500 60.000 December 31,…
A: Formulas:
Q: Chick 2 Go, Inc. charges an initial franchise fee of P115,000, with P25,000 paid when the agreement…
A: Revenue from franchise fees should be recognized when it is earned and when it is collectible.…
Q: On December 31, 2019,
A: Unearned revenue is the money received by an individual in advance against which service or product…
Q: Operating results for department B of Shaw Company during 2016 are as follows: Sales $755,000…
A: A type of financial accounting called department accounting, sometimes known as departmental…
Q: Assume you are the Chief Accounting Officer for Mississippi Cookie Company and you are currently…
A: Depreciation refers to the decrease in value of an asset over time due to wear and tear, aging, or…
Q: Equity Swap Assuming DEF Finance agreed to receive 50,000 ordinary shares of ACT Company in full…
A: The debt settlement is done by paying the accused interest and principal amount or any mutually…
Q: Mina's Kitchen, Inc. franchise, entered into franchise agreement with Aling Mina, franchisee, on…
A: The right to run a business using the franchisor's well-known brand, systems, and support is granted…
Q: P acquired 75% shares of S on Jan 1, 2018 for $150,000. On that date S reported common stock of…
A: The question is based on the concept of Financial Accounting. The question is of Business…
Q: Suppose your company reports $255 of net income and $59 of cash dividends paid, and its comparative…
A: The cash flow from operating activities includes the cash flow from day to day transactions of the…
Q: 2.3 Internal Rate of Return of Project B (expressed to two decimal places) using interpolation.
A: The IRR is the discounting rate at which the Net Present Value (NPV) of an investment is zero. To…
Q: GolfGear & More, Incorporated is a regional and online golf equipment retailer. The company reported…
A: Cash Flow Statement - Cash Flow Statement includes inflow and outflow of cash during the financial…
Q: Exercise 11-1 (Algo) Depreciation methods [LO11-2] [The following information applies to the…
A: Lets understand the basics. Depreciation is a reduction in value of asset due to wear and tear,…
Q: ABC company purchased product A and product B. The manufacturer sent an invoice 3000 units of…
A: It is the cost associated with getting the product to its final destination. In other words, it is…
Q: Ayala Corporation accumulates the following data relative to jobs started and finished during the…
A: Introduction:- This question presents a scenario where Ayala Corporation has accumulated data…
Q: A partnership is currently holding $200,000 in assets and $120,000 in liabilities. The partnership…
A: A partnership is a formal arrangement by two or more parties to manage and operate a business and…
Q: Identify the correct statement regarding the calculation of taxable income of a natural person O A.…
A: In income tax, a deduction refers to an expense that can be subtracted from a person's taxable…
Q: On January 1, 2024, Whittington Stoves issued $800 million of its 8% bonds for $736 million. The…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: omfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from…
A: The period costs are the costs that are not related to production process. The selling and…
Q: 10) Piechocki Corporation manufactures and sells a single product. The company uses units as the…
A: Flexible budget :— It is calculated by multiplying budgeted amount per unit with actual units.…
Q: PROBLEM B: SUN CELL Company sold Cellphones on installment basis on July 1, 2023. The Unit cost to…
A: Installment method : The payment received after the sales are either in lump-sum or in installment,…
Q: Paparo Corporation has provided the following data from its activity-based costing system: Activity…
A: Cost of product means the amount of cost incurred on the making of the products. It includes the…
Q: Sold 1,900 of its treasury shares at $27 cash per share. Note: Enter debits before credits. Date Jul…
A: The journal entries are prepared to record the transactions on regular basis. The treasury stock…
Q: The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for…
A: The budgeted cost of goods sold statement shows the total cost to be incurred in manufacturing and…
Q: The local grocery store expects that customers will use credit cards to pay for a total of 100,000…
A: Credit card transaction fees is the amount of money charged on each transaction made through the…
Q: The shareholders' equity of ILP Industries Includes the items shown below. The board of directors of…
A: The cumulative preference shares holders receive the current year dividend along with any previous…
Q: On November 30, 2022
A: Franchise fees are the up-front payments given by a person or organization to a franchisor…
Q: On January 1, 2022, Blue Spruce Corp. had the following stockholders' equity accounts. Common Stock…
A: As per dual concept of accounting, every transaction has dual impact on the books of accounts.…
Q: Emily Consultants Company has a fiscal year ending December 31. For each of the following…
A: The Income Summary account is a temporary account that is used to close out all revenue and expense…
Q: On January 1, 2025, Tamarisk Company purchased 9% bonds having a maturity value of $330,000 for…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: The following information has been taken from the accounting records of Xtra Company at December 31,…
A: Cash and cash Equivalent means the financial assets in the form of cash or can be converted into…
Please help me with show all calculation thanku
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Thank you for that, it actually coincides with what I think. However, could you please calculate the breakeven points and give an explanation of what they mean to the director. Also, could you please calculate the sales activity to reach a target profit of 20,000How much would be needed today to provide an annual amount of $50000 each year for 20 years, at 9% interest each year? a. $546,000 O b. $456,427 O c. $645,000 O d. $456,000Using Goal Seek/Solver and/or What-If Scenarios based on the below income statement, calculate the following a) the sales amount in order to realize $1,200,000 of net income without changing any of the expense accounts. b) to realize $1,200,000 without changing revenues and cost of goods sold. c) What could be the best scenario to achieve NI $1,200,000.
- Suppose you have a product for which you will only place a single order with your supplier. If 5) that order is placed before you know demand, your expected profit is 1)__--- order after you know demand, your expected profit is 2)__-- A) 1) mean demand; 2) second order quantity B) 1) newsvendor expected profit; 2) maximum profit C) 1) maximum profit; 2) newsvendor expected profit D) 1) total mismatch profit; 2) maximum profit but if you place the(a) Build a spreadsheet model to calculate the profit/loss for a given demand. What is the demand? (b) Use Goal Seek to calculate the price that results in breakeven. If required, round your answer to two decimal places. c) Use a data table that varies price from 350 to 3400 in increments of 325 to find the price that maximizes profit.APPLY THE CONCEPTS: Target income (sales revenue) Another useful method for figuring out the type of performance your company will need to reach a target income is by using sales revenue. Rather than using the number of units, this method uses total sales revenue. In companies for which the total set of goods produced and sold is more varied, this would be the preferred method, as opposed to a business in which only one product is sold. Assume a company has pricing and cost information as follows: Price and Cost Information Amount Selling Price per Unit $30 Variable Cost per Unit $15 Total Fixed Cost $15,000 For the upcoming period, the company wishes to generate operating income of $40,000. Given the cost and pricing structure for the company's product, how much sales revenue must it generate to attain its target income? Step 1: Calculate the contribution margin ratio: The contribution margin ratio is the contribution margin in proportion to the selling price on a per-unit basis.…
- a. Present a cost-profit-volume analysis that shows the effect of adding the $8,500 annual premium to the company's fixed costs by showing current and revised CVP Income Statements. Include a column to the right of each income statement where each line item is expressed as a percentage of sales (called a common size income statement). b. Visualize the changes to net income in a chart. c. Advise the company using your quantitative support and qualitative. reasoning as to whether the company should purchase the insurance. A-Float Pools Company Income Statement (Pools Maintenance Div.) For the Year Ended December 31, 2022 In Sales (2,000 clients) Cost of Services Gross profit Operating expenses Selling Administrative Net Income $165,000 $225,000 $1,100,000 627,000 $473,000 $390,000 $83.000Find out the Profit volume ratio with the following data:Sales: $50000Variable cost: $10000.there are still these to answer Draw up a marginal cost statement on the basis that 12,000 units will be sold and calculate the net profit or loss c. Briefly explain what is meant by breakeven points d. Calculate the breakeven units in value and explain what it means to the director e. Calculate the sales activity to reach a target profit of £20,000.
- Please answer the blank areas including total expenses, income from operations, what is the expected margin of safety in dollars and as a percentage of sales (if required , round the percent to one decimal place) and determine the operating leverage . Thx ( please provide explanations).Assume that the linear cost and revenue models apply. An item costs $13 to make. If fixed costs are $1600 and profits are $5700 when 100 items are made and sold, find the revenue equation. (Let x be the number of items.)R(x) =Remember: Gross profit = SP- CP Activity 1.2 enti Complete the following table: Table 1.2: Finding the cost price, the gross profit or the selling price No Cast price Gross prafit Selling price 1.2.1 R5 600 R8 700 1.2.2 R3 400 30% 1.2.3 R6 800 R12 700 1.2.4 R17 500 R35 000 The owner of an enterprise has to calculate both the gross and the net profit. A business has certain operating expenses thai must be deducied from the gross profit to get the net profit. Examples of operating expenses are: • Salaries Wages • Rent paid/rent expense • Advertisements • Stationery. The cost of advertising the business is one example of an operating expense. Gross profit minaş operating expenses equals net profit."