You are given the following information for a company: Variable costs as percentage of sales Sales revenue split Fixed cost for the period is £1,212,000 Product X 45% 70% What is the company's break even sales level? Product Y 60% 30%
Q: Jan. 2, purchased merchandise for resale Jan. 12, purchased merchandise for resale Jan. 16, sold…
A: FIFO Method :— It is one of the method of inventory valuation in which it is assumed that old…
Q: On August 1, Oak Ltd. accepted a $25,400 note from Borges Ltd. in settlement of an account…
A: Journal entries are a fundamental aspect of accounting, as they are used to record all financial…
Q: ome years ago, Junior Ltd established a defined benefit pension plan for its employees. The company…
A: The anticipated present value of all future pension benefits that employees would get as of a…
Q: Wildhorse Company expects to produce 1,260,000 units of product XX in 2022. Monthly production is…
A: Revenue and spending variance :— It is the difference between flexible budget and actual results.…
Q: Compute the debt to equity ratio. (Round your answer to 2 decimal places.) Multiple Choice 2.15
A: Introduction:- Ratio analysis used identify the business performance of the company. It is used to…
Q: Production Cost Report Empire Aviation owns the patent to manufacture the most agile starship in the…
A:
Q: On December 31, 2019, Akron, Inc., purchased 5 percent of Zip Company's common shares on the open…
A: Equity method of Accounting: The equity technique is used to account for company investments. This…
Q: Calculate FTE/AOB for the following results: If last year ratio was 4.82 – How does this year’s data…
A: To calculate FTE/AOB, we first need to determine the number of Full-Time Equivalent (FTE) employees…
Q: For Windsor Company, units to be produced are 4,900 in quarter 1 and 6,100 in quarter 2. It takes…
A: A direct labor budget is a financial plan that estimates the cost of labor needed to produce a…
Q: Question 2 Fresh Catch Pte Ltd is an importer and distributor of seafood in Singapore. The following…
A: A company prepares a cash flow statement to check the amount of net decrease or increase in the cash…
Q: Planet Light First (PLF), a producer of energy-efficient light bulbs, expects that demand will…
A: Inventoriable cost are direct cost involved in the production and these are direct material cost ,…
Q: A young man is the beneficiary of a trust fund established for him 21 years ago at his birth. If the…
A: Calculation of amount will be received if interest compounded annually , Quarterly and monthly are…
Q: Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available…
A: TOTAL COST PER UNIT Total Cost Includes Direct Material, Direct Labour, Manufacturing OH Cost,…
Q: CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The…
A: Equivalent units concept is used when opening or ending work in progress is not 100% complete but…
Q: Gobor-258 Inc. uses a job-order costing system with a predetermined overhead rate using machine…
A: Solution: Direct material = $660 Direct labor = $1,320 Total Machine hours used = 30 Units…
Q: Augusta Sports manufactures baseball caps. The company uses standards to control costs. The labor…
A: The variance is the difference between the actual and standard production costs. The spending…
Q: Rapp Travel offers helicopter service from suburban towns to John F. Kennedy International Airport…
A: The variable cost per unit and fixed costs are constant at different level of production. The high…
Q: The following partially complete T-accounts for the month of June along with additional information…
A: The overhead is applied to the production on the basis of pre-determined overhead rate. The total…
Q: Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a…
A: INVENTORY VALUATION Inventory Valuation is a Method of Calculation of Value of Inventory at the End…
Q: Accenture (which spun off of former accounting firm Author Anderson) wrote an article entitled "Meet…
A: The emergence of new business models and technologies is transforming the way companies operate and…
Q: hristmas break to earn a short vacation during the first week of January 201 Sne arns three vacation…
A: INFORMATION:- This question involves accounting for vacation time and compensation for an employee…
Q: The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts…
A: The stockholders' equity section shows the owners' claim on the assets, it includes common shares,…
Q: A mechanical engineer purchased a minivan for $47,000. Complete the following table to determin the…
A: TCO stands for Total Cost of Ownership is the cost of the asset throughout its life cycle. This cost…
Q: National Supply’s shareholders’ equity included the following accounts at December 31, 2020:…
A: Average paid-in capital-excess of par = Paid-in capital in excess of par/Number of shares =…
Q: Financial Analysis The following financial results are shown for East, Inc. and West, Inc. Ratios…
A: This question presents financial ratios for two companies, East, Inc. and West, Inc., and asks the…
Q: Way Corporation disposed of the following tangible personal property assets in the current year.…
A: Depreciation expense refers to the charges by which the asset value decreases over its useful life.…
Q: Ay 2 Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of…
A: In accounting, FICA stands for the Federal Insurance Contributions Act. FICA is a federal payroll…
Q: Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory…
A: The LIFO method of valuing inventory says that the most recent purchases are sold first. The ending…
Q: How much is included in Stephanie's probate estate related to the revocable living trust? $0
A: Since the trust was revocable, Stephanie retained the power to modify or revoke the trust during her…
Q: Micro Facilities incurs the following costs during the year. • A new patent is purchased for…
A: JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the Process…
Q: Required: 1-a. Prepare contribution margin income statements for the two-month period both with and…
A: Working Notes 1: 1st case – Without special order Total direct-labor hours available = 4480 direct…
Q: Nittany Company uses a periodic inventory system. At the end of the annual accounting period,…
A: INVENTORY VALUATION Inventory Valuation is a Method of Calculation of Value of Inventory at the End…
Q: On December 31, 2020, Dow Steel Corporation had 640,000 shares of common stock and 34,000 shares of…
A: Earning Per Share: It is a important financial measure.It is a share of a company's profit that is…
Q: Given the following information, determine the activity rate for setups. Activity Total…
A: Under Activity base costing manufacturing overheads cost to product is more appropriate than…
Q: On April 30, Ava, age 42, received a distribution from her qualified plan of $150,000. She had an…
A: To calculate the taxable amount of the distribution and any applicable penalty, we need to first…
Q: Regular Company produces audio equipment, specifically headphones and speakers. A new CEO has just…
A: Profit Margin: The difference between the entire revenue and the total operating expenses of your…
Q: Royal Company manufactures 24,000 units of Part R-3 each year. At this level of activity, the cost…
A: Based on the details the answer is given below
Q: Listed below in random order are line items to be included in the statement of cash flows. Purchase…
A: CASH FLOW STATEMENT Cash flow statement is additional information to user of financial statement.…
Q: What are the criteria for classifying a lease as operating or capital? Why is there a difference…
A: A lease is a contract between a lessor (owner of an asset) and a lessee (user of the asset) that…
Q: This year Lloyd, a single taxpayer, estimates that his tax liability will be $12,100. Last year, his…
A: Tax Liability The amount that a person, company, or other entity owes to a federal, state or local…
Q: Scrappers Supplies tracks the number of units purchased and sold throughout each accounting period…
A: LIFO stands for “Last-In, First-Out”. It is a method used for cost flow assumption purposes in the…
Q: Required: Prepare an entry to allocate the over- or underapplied overhead.
A: The overhead is applied to the production on the basis of predetermined overhead rate. The…
Q: Ultravision Incorporated anticipates sales of $370,000 from January through April. Materials will…
A: Budgeted cash payments are the amounts of cash expect to pay based on the forecasted purchase and…
Q: Sunland, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can scan…
A: The differential analysis is performed to analyze the two different alternatives such as make or buy…
Q: Prepare general journal entries for the balance day adjustments
A: General journal entries at the time of the balance day are the entries which are required as…
Q: compare the current year balance in prepaid insurance and insurance expense with the prior year's…
A: When comparing the current year balance in prepaid insurance and insurance expense with the prior…
Q: At the end of its first year of trading a company has total trade receivables (debtors) of £20,000.…
A: A provision for doubtful debts is an accounting entry made by a company to account for the…
Q: A. 14.3% B. 13.2% C. 17.7% D. 19.3%
A: Introduction:- Internal rate of return method: - The internal rate of return is the discount rate at…
Q: Required information [The following information applies to the questions displayed below] Portions…
A:
Q: Jack and Jill exchange like-kind real estate assets as listed below: Jack's old asset: FMV…
A: Given that Jill's old asset: FMV $70,000; and his Basis $55,000 Hence Jill had an deffered gain of…
Ef 457.
Step by step
Solved in 5 steps
- A company produces and sells two products with the following costs: Product X £0.45 £1,212,000 per period Product Y Variable costs (per £ of sales) Fixed costs £0.60 Total sales revenue is currently generated by the two products in the following proportions: 70% 30% Product X Product Y Required: (a) Calculate the break-even sales revenue per period, based on the sales mix assumed above. (b) Prepare a profit volume chart of the above situation for sales revenue up to £4,000,000. Show on the same chart the effect of a change in the sales mix to Product X 509%, Product Y 50%. Clearly lindicate on the chart the break-even point for each situation. (C) Of the fixed costs £455.000 are attributable to Product X. Calculate the sales revenue required on Product X in order to recover the attributable fixed costs and provide a net contribution of £700.000 towards general fixed costs and profit.Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is estimated to be MC=q+35 MR=560+22q-q^2 Where q is the quantity produced and the firm’s break-even is 5 units per week You are Required to I. determine the total cost and the total revenue function in terms of q. II. estimate the output at which profit is maximize III. calculate the maximum profitMatamad Inc. Provides you with the following data on its operation for analysis:Unit selling priceP40Variable costs and expenses per unit.P30Fixed cost and expenses per annum.P48,000REQUIRED:a. Contribution margin per unitb. Contribution margin percentagec. BEP sales volume (units)d. BEP peso salese. Peso sales with desired income of P9,000f. Peso sales with desired income P13,000 after 32% income tax
- A company has assessed the profitability of its three products as shown here: Product A Product B Product C Total Sales (units) 3,000 5,000 2,000 10,000 £ £ Price 15.00 10.00 5.00 Variable costs 6.00 4.00 3.00 Divisible fixed costs 2.00 1.00 0.50 Non-divisible fixed costs 2.00 2.00 2.00 Profit/(Loss) 5.00 3.00 (0.50) As a result of this, it has been suggested that Product C should be dropped. All other things being equal what would be the financial impact of dropping Product C? A B Profit would increase by £1,000. Profit would increase by £2,000. Profit would fall by £3,000. C D Profit would fall by £4,000. £Blossom Company has the following information available for September 2022. Unit selling price of video game consoles Unit variable costs Total fixed costs Units sold $400 $320 $24,000 600A projected income statement of Hailwork’s company for the coming year follows: Sales $506300 |Total Variable Cost 170865 Contribution Margin ? Total Fixed Cost 175000 Operating Income ? Compute contribution margin and contribution margin ratio Compute the Operating Income How much revenue must be earned in order to breakeven What is the effect on contribution margin ratio if the unit selling price and unit variable cost increase by 10 percent each?
- The following information relates to the operations of a company; cost per unit from supplier- GH¢80, variable cost per unit GH¢40 and total fixed cost of GH¢300000. The company determines its selling price by adding a margin of 20%. What is the breakeven quantity?Question 1: A company produces and sells two products with the following costs: Product X Product Y Variable costs per Br. of sales Fixed costs per period Br.0.45 Br.1 212 000 Br.0.6 Br.1 212 000 Total sales revenue is currently generated by the two products in the following proportions: Product X 70% Product Y 30% Required: Calculate the break-even sales revenue per period, based on the sales mix assumed Prepare a profit–volume chart of the above situation for sales revenue up to Br.4 000 Show on the same chart the effect of a change in the sales mix to product X 50%, product Y 50%. Clearly indicate on the chart the break-even point for each situation. Of the fixed costs 455 000 are attributable to product X. Calculate the sales revenue required on product X in order to recover the attributable fixed costs and provide a netcontribution of Br.700 000 towards general fixed costs and profit.Profit Functions A company has a fixed cost of $26,000 and a production cost of $5 for each unit it manufactures. A unit sells for $10. Find the following functions (in dollars). (a) What is the cost function? C(x) = (b) What is the revenue function? R(x) = (c) What is the profit function? P(x) = (d) Compute the profit (loss), in dollars, corresponding to the following production levels. P(5,500) =$ P(8,800) =$ P(12,100) =$
- Skeeter Systems uses the following data in its Cost-Volume-Profit analyses: Sales Variable expenses Contribution margin Fixed expenses Net operating income O $80,000 What is total contribution margin if sales volume increases by 20%? O $158,400 O $200,000 Total $ 400,000 280,000 120,000 100,000 O $144,000 $ 20,000Compute for what is being asked1. Unit selling price P800 unit variable cost P350 annual sales volume, 620 units, fixed costs and expenses P200,000 per year. Compute the following.a. Contribution margin per unitb. Contribution margin percentagec. BEP sales volume (units)d. BEP peso salee. Operating income (BIT)using the break even salef. Operating income (EBIT) using the annual sales volumeA product has a sales price of $230 and a per-unit contribution margin of $115. What is the contribution margin ratio? Contribution margin ratio fill in the blank 1%