ete Presidio's cost data table. te Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data ta ng the company sells each bike for $630. te net operating income (loss) at each of the sales levels assuming a sales price of $630. ete this question by entering your answers in the tabs below.
Q: Suppose during 2022 that Federal Express reported the following information (in millions): net sales…
A: Asset Turnover measures a company's efficiency in utilizing its assets to generate sales. It is…
Q: Lowell Company sells swimming pool supplies and equipment. The majority of Lowell's customers are…
A: Journal entries are the basic method for recording financial transactions in the books of accounts.…
Q: Garcia Inc. has capacity to produce 20,000 units of inventory. It operated at 100% capacity during…
A: The objective of the question is to calculate the contribution margin to be reported in the variable…
Q: The comparative balance sheets for Carla Vista Corporation appear below: CARLA VISTA CORPORATION…
A: A cash flow statement provides a snapshot of a company's cash inflows and outflows during a specific…
Q: Journalize the transactions using perpetual inventory system
A: The record of day-to-day transactions in the books of accounts is called journal entries. In a…
Q: The following departmental information is for the four departments at Samoa Industries. Number of…
A: The objective of the question is to determine the proportional usage of the Janitorial Department by…
Q: Rachel, a single taxpayer, operates a construction business as a sole proprietor. This year, Rachel…
A: Qualified business income deduction i.e QBI is the tax deduction that is applicable for eligible…
Q: PB6-3 (Algo) Recording Sales and Estimated and Actual Returns, and Analyzing Gross Profit Percentage…
A: Gross Profit: It implies the excess of sales revenue generated by the business from it's core…
Q: Jean-Pierre, Inc. makes and sells Fakes. Manufacturing Overhead is applied based on Direct Labor…
A: The objective of the question is to calculate the Cost of Goods Manufactured (COGM), Cost of Goods…
Q: The green company building is valued at $220,000 the building was insured for $100,000 at a premium…
A: Given,Green company building value at $ 220,000building was insured for $100,000 at a premium rate…
Q: Padre, Inc., buys 80 percent of the outstanding common stock of Sierra Corporation on January 1,…
A: Consolidation accounting refers to the procedure where financial statements of subsidiary companies…
Q: Expenses follow the same debit and credit rules as: a. revenues b. dividends c. capital stock d.…
A: The cost of operating a business that it bears in order to make money is referred to as an expense…
Q: Projected Income Statement Sales…
A: Break even point - At this point there is no profit and no loss to the entity. It is calculated…
Q: The transaction price allocated to the pool and the installation is
A: The transaction price represents the amount of consideration a seller expects to receive from a…
Q: The following inventory transactions took place for Blossom Ltd. for the year ended December 31,…
A: Perpetual inventory system Perpetual inventory system continuously estimates the inventory based on…
Q: Direct and step methods Salado Inc. provides cleaning services through its Residential and…
A: Lets understand the basics.Service department costs are allocated to production department using,(1)…
Q: Monsters inc recently paid its annual dividend of $2.47 and reported an ROE of 6%. The firm pays out…
A: Intrinsic value refers to the value of an asset or investment. It is different from the current…
Q: Prepare an income statement through gross profit for Alvarado Company for the month ending March 31.…
A: Standard Quantity= 3*17000*3.15=1,60,650Standard Labor=3*17000*19.55=9,97,050Standard Variable…
Q: In alphabetical order below are current asset items for Roland Company's balance sheet at December…
A: The balance sheet is one of the important financial statement of the business. The balance sheet…
Q: AirQual Test Corporation provides on-site air quality testing services. The company provided the…
A: A cash budget helps the business in estimating the flow of cash i.e., inward or outward over a…
Q: Actual return on plan assets $13 Interest cost $9 Benefits paid to retirees 8 Opening balance,…
A: Pension plan assets is the fund generated by the company for meeting the future compensation…
Q: On January 1 of the current year, Rhondell Corporation has accumulated E & P of $36,000. Current E &…
A: Return on capital (ROC) measures a company's net income relative to the sum of its debt and equity…
Q: Jan Petri is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end…
A: Given:Assets at the end of December 31, 2018 = $876,000Liabilities = $210,000The accounting equation…
Q: Prior to adjustment at the end of the year, the balance in Trucks is $300,900 and the balance in…
A: Answer:- Depreciation expense is basically the expense which is charged on the non-current assets of…
Q: The inventory ledger account of Yim Inc. shows that the level of inventory of the manufactured…
A: The objective of the question is to determine the difference in net income under variable and…
Q: #2 i Oped rint Saved Great Pasta Company manufactures a single product that goes through two…
A: WEIGHTED AVERAGE METHOD:— Under this method, equivalent units are calculated by adding equivalent…
Q: JetStream Manufacturing's contribution format income statement for the most recent month is shown…
A: Cost volume profit analysis is the technique used by management for decision making. The methods…
Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care…
A: The objective of the question is to journalize the assignment of overhead to the Assembly and…
Q: a. Sold merchandise on account to Troy Co., invoice no. 10, $50. The cost of the merchandise was…
A: Journal Entry: It refers to a process of recording the day to day financial or monetary transactions…
Q: Smart Company prepared its annual financial statements dated December 31. The company reported its…
A: Ending inventory on LCM basis is the sum of individual items on lower of cost or NRV…
Q: On January 1, 2024, Pasture Company acquires 80% of Spring Company for $1,848,960 in cash…
A: The scenario depicts the acquisition of Spring Company by Pasture Company, where Pasture acquires…
Q: Oriole Company has old inventory on hand that cost $12600. Its scrap value is $15300. The inventory…
A: When decision is to be taken regarding a product whether it should be manufactured further or not,…
Q: ompany reported the following January purchases and sales data for its only product. For specific…
A: The specific identification method: It is one of the methods of inventory valuation, specifically…
Q: Nittany Company uses a periodic inventory system. At the end of the annual accounting period,…
A: The Weighted Average method is one of the strategies for stock valuation in which it is expected…
Q: 6. Complete the table below for the 100% shareholder of the S-corporation.
A: Tax basis refers to the original value of an asset for tax purposes, typically representing the cost…
Q: Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been…
A: Total assets refers to the total amount of assets possessed by a person or business. Assets are…
Q: Oct. 1 Issued common stock in exchange for $80,500 cash from investors. 2 4 Hired part-time security…
A: Ledger Accounts:After the transactions are journalised next step is to record the transactions into…
Q: The Stilton Company has the following inventory and credit purchases during the fiscal year ended…
A: Inventory valuation is referred to as that method which helps in assigning a monetary value to the…
Q: The valuation of a promise to receive cash i the future at present value on the financial statemetns…
A: The accounting principles and standards are established by the standard setting authority of the…
Q: Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat.…
A: Budgeted income statement can be prepared with the help of other budgets such as sales budget, cash…
Q: parents report taxable income of $600,000 (married filing jointly). Sheryl did not provide more than…
A: Under U.S law, the government gives a deduction to all parents who have dependent children. Kiddie…
Q: Blossom Golf Accessories sells golf shoes, gloves, and a laser-guided range-finder that measures…
A: The contribution margin is calculated as the difference between the sales and variable costs. The…
Q: Prepare the journal entry to record (1) the receipt of payment of $70,000 from employees for the…
A: Remittance refers to the transfer of money from one party to another, often across geographical…
Q: An excel spreadsheet must be use to complete the following activity: You work for a small business.…
A: Matching 401(k) contributions are extra payments made by employers to the 401(k) plans of their…
Q: [The following information applies to the questions displayed below.] In the current year, Randa…
A: Income statement is prepared using either two methods.(1) Single step income statement(2) Multi step…
Q: Lara uses the standard mileage method for determining auto expenses. During 2023, she used her car…
A: An auto deduction is a tax deduction that can be claimed by a taxpayer for expenses related to the…
Q: Rundle Company manufactures a personal computer designed for use in schools and markets it under its…
A: Contribution to profit from special order = Revenue from special order - Relevant cost of special…
Q: Exercise 4-20 (Algo) Statement of cash flows; indirect method [LO4-8] Presented below is the 2024…
A: Cash Flow Statement :— It is one of the financial statement that shows change in cash and cash…
Q: Blanchard Company manufactures a single product that sells for $136 per unit and whose total…
A: Contribution means the difference between the selling price and variable cost. Break even point…
Q: Take me to the text Marry Inc. provided the following information from its accounting records for…
A: Earning per share = This can be computed by dividing the company return available to common stock…
Note:-
- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
- Answer completely.
- You will get up vote for sure.
Step by step
Solved in 5 steps with 15 images
- Presidio, Incorporated, produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $630. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $630. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. Note: Round your Cost per Unit answers to 2 decimal places. Bikes Produced and Sold 730 Units 750 Units 1,260 Units Total costs Variable costs $ 182,500 Fixed costs per year Total costs $ 182,500 $ 0 $ 0 Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 0.00 $ 558.00 $ 0.00Presidio, Inc., produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $630. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $630. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. (Round your Cost per Unit answers to 2 decimal places.) Bikes Produced and Sold 730 Units 910 Units 1,18 Total costs Variable costs 189,800 Fixed costs per year Total costs 189,800 Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 0.00 S 540.00 $4 0.00Presidio, Inc., produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $630. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $630. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. (Round your Cost per Unit answers to 2 decimal places.) Bikes Produced and Sold 730 Units 810 Units 1,402 Units Total costs Variable costs Fixed costs per year Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit S 189,800 S S 189,800 $ 0.00 $ 0 S 536.00 S Required 1 0 0.00 Required 2 >
- Presidio, Inc., produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $640. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $640. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. (Round your Cost per Unit answers to 2 decimal places.) Bikes Produced and Sold 730 Units 790 Units 1,944 Units Total costs Variable costs $ 189,800 Fixed costs per year Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 549.00 Required 1 Required 2 Required 3 Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data…Galaxy Sports Inc. manufactures and sells two styles of All Terrain Vehicles (ATVs), the Conquistador and Hurricane, from a single manufacturing facility. The manufacturing facility operates at 100% of capacity. The following per-unit information is available for the two products: In addition, the following sales unit volume information for the period is as follows: a. Prepare a contribution margin by product report. Compute the contribution margin ratio for each. b. What advice would you give to the management of Galaxy Sports Inc. regarding the profitability of the two products?Spectrum Corp. makes two products: C and D. The following data have been summarized: (Click the icon to view the data.) Spectrum Corp. desires a 25% target gross profit after covering all product costs. Considering the total product costs assigned to the Products C and D, what would Spectrum have to charge the customer to achieve that gross profit? Round to two decimal places. Begin by selecting the formula to compute the amount that the company should charge for each product. Required sales price per unit Data table Direct materials cost per unit Direct labor cost per unit Indirect manufacturing cost per unit Total costs assigned Print $ $ Product C 600.00 $ 300.00 270.00 1,170.00 S Done - X Product D 2,400.00 200.00 604.00 3,204.00
- Best Windows is a small company that installs windows. Its cost structure is as follows: Selling price from each window installation Variable cost of each window installation Annual fixed costs $ $ $ 160,000 Use (a) the equation method and (b) the contribution method to calculate operating income if Best installs 4,000 windows. Use (a) the Equation method to calculate operating income if Best installs 4,000 windows. Begin by determining the formula to calculate the operating income using the equation method. Then, calculate the operating income. (Abbreviation used: FC = Fixed costs, SP = Selling price, VCU = Variable cost per unit, Q = Quantity of units sold.) X X )-( )-( X X 700 600 X = Operating income = Next, use (b) the contribution method to calculate operating income if Best installs 4,000 windows. Begin by determining the formula to calculate the operating income using the contribution method. Then, calculate the operating income. = Operating incomeSpectrum Corp. makes two products: C and D. The following data have been summarized: (Click the icon to view the data.) Spectrum Corp. desires a 27% target gross profit after covering all product costs. Considering the total product costs assigned to the Products C and D, what would Spectrum have to charge the customer to achieve that gross profit? Round to two decimal places. Begin by selecting the formula to compute the amount that the company should charge for each product. Total product cost per unit Spectrum should charge 2091.10 for Product C. Data table Direct materials cost per unit Direct labor cost per unit Indirect manufacturing cost per unit Total costs assigned Print Product cost as a percentage of sales price Product C $ 900.00 $ 400.00 226.50 $ 1,526.50 $ Done Product D 2,400.00 100.00 531.00 3,031.00 X = Required sales price per unit GRequired information Morning Dove Company manufactures one model of birdbath, which is very popular. Morning Dove sells all units it produces each month. The relevant range is 0-1,500 units, and monthly production costs for the production of 1,200 units follow. Morning Dove's utilities and maintenance costs are mixed with the fixed components shown in parentheses. Production Costs Direct materials Direct labor Utilities ($100 fixed) Supervisor's salary. Maintenance ($250 fixed) Depreciation Total Cost $ 2,700 8,100 Suppose it sells each birdbath for $26. Required: 580 3,200 530 750 1. Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. 2. Complete the contribution margin income statement assuming that Morning Dove produces and sells 1,400 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the unit contribution margin and contribution margin ratio for each birdbath sold. (Round Variable cost…
- Bernard Windows is a small company that installs windows. Its cost structure is as follows: Selling price from each window installation $500 Variable cost of each window installation $400 Annual fixed costs $150,000 Use (a) the Equation method and (b) the contribution method to calculate operating income if Bernard installs 2,000 windows. Use (a) the Equation method to calculate operating income if Bernard installs 2,000 windows. Begin by determining the formula to calculate the operating income using the equation method. Then, calculate the operating income. (Abbreviation used: FC = Fixed costs, SP = Selling price, VCU = Variable cost per unit, Q = Quantity of units sold.) ( × ) - ( × ) - = Operating income ( × ) - ( × ) - =Cullumber Company makes three models of tasers. Information on the three products is given below. Sales Variable expenses Contribution margin Fixed expenses Net income (a) Net income $ (b) Shocker Net Income Tingler $300,000 $500,000 Tingler Net Income $ Total Net Income (c) Why or why not? Compute current net income for Cullumber Company. ta Net income would 151,400 148,600 $ 119,400 S $29,200 Fixed expenses consist of $298,000 of common costs allocated to the three products based on relative sales, as well as direct fixed expenses unique to each model of $30,000 (Tingler), $80,800 (Shocker), and $34,300 (Stunner). The common costs will be incurred regardless of how many models are produced. The direct fixed expenses would be eliminated if that model is phased out. James Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company's net income. Shocker 197,000 303,000 229,800 $73,200 Compute net income by product line and in total for…Voice Com, Inc., uses the product cost method of applying the cost - plus approach to product pricing. The costs of producing and selling 5,000 units of cell phones are as follows:Voice Com desires a profit equal to a 13% rate of return on invested assets of $600, 800.a. Determine the amount of desired profit from the production and sale of 5,000 units of cell phones.Sfill in the blank 1b. Determine the product cost per unit for the production of 5,000 of cell phones. If required, round your answer to nearest dollar.Sfill in the blank 2 per unitc. Determine the product cost markup percentage (rounded to two decimal places) for cell phones.fill in the blank 3 %d. Determine the selling price of cell phones. Round to the nearest dollar.