ssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress=false E Calculator Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019, they generated $722,000 in service revenue. Their total cost (fixed and variable) per client was $2,400 and they served 105 clients during the year. If operating expenses for the year were $302,000 what was their net income? Park and West, LLC Income Statement For Year Ending 2019 Previous Next Submit Test for Grading Email Instructor All work saved. 5:19 PM 10/2/2020
Q: Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR…
A: Break Even point in sales = Fixed CostContribution Margin Here Contribution margin = Selling Price…
Q: Q. What other actions can Mr. Welch take to improve operating income?
A: The operating income is the difference of selling price and the total costs which comprises of…
Q: Oliver Brush Company sells standard hair brushes. The following information summarizes Oliver's…
A: With the Given Information, we can calculate the Cost of goods sold: Cost of goods sold = Beginning…
Q: NUBD Company is a medium-sized manufacturer of lamps. During 2021, a new line called "Excellence"…
A: Solution: Fixed costs = Breakeven sales * CM ratio = P400,000 * 40% = P160,000
Q: Alpha Electronics Cop (AEC) manufactures and sells a unique intermediate component part that is…
A:
Q: tax incom Gross profit ? Allocated costs (uncontrollable) $2,030 Labor expense 41,590 Sales 189,000…
A: Income statement refers to those financial statements of the company which depicts the…
Q: Company XYZ produces computer laptops. During July 2019, the company produced 2.000 laptops. The…
A: Variable costs: These costs are incurred in conjunction to the volume of goods produced or sold. It…
Q: 4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars…
A: Income statement is a statement prepared to calculate the net income of a company after deducting…
Q: Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019,…
A: In this question it is asking about the net income & the net income is the total revenue less…
Q: Atlantis Company is placing an ad in the local paper to advertise its products . The ad will run for…
A: Advertising Cost allocated to Product A = Total Advertising Cost X Percentage of Floor Space…
Q: On July 10, 2020, Bonita Ltd. sold GPS systems to retailers on account for a selling price of…
A: Journal: Recording of a business transactions in a chronological order.
Q: The following transactions occurred for Surfer Paradise Ltd (SPL), a raw materials supplier, during…
A: Perpetual Inventory System is a process of valuation of inventory where in there is continuous…
Q: Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR…
A: Break even point means a point where firm is neither earning profit nor incurring any loss. For…
Q: MENA Corp., registered with BIR in 2019, has the following data for the year 2021: Gross Sales…
A: Gross income or gross profits of the business can bd calculated by deducting cost of goods sold from…
Q: s. The business began the second quarter (April to June) of 2020 with 15 (V380PRO) camer s at a…
A: D The FIFO (First In, First Out) method Materials that are received first are issued first under…
Q: Enviro-Tech has only two retail and two whole-sale customers. Information relating to each customer…
A: Activity based costing Activity based costing is a method of estimating cost and allocating overhead…
Q: Management is considering a change in the sales force compensation plan. Currently each of the…
A: CVP Analysis stands for Cost-Volume Profit analysis. Under CVP analysis, we analyse the impact of…
Q: Pretax income ? Gross profit ? Allocated costs (uncontrollable) $2,040 Labor expense 41,580 Sales
A: A Income Statement Amount $ Sales 189,000 Cost of goods sold 119,070 Gross profit…
Q: Appliance Store realizes a mark-up of PhP3,450 in selling TV sets. If its items are sold at a…
A: Breakeven Point: It is the point where firm is earn no profit and no loss, and total revenue earned…
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: Profit margin = Net IncomeSales x 100 Return on Investment = Net IncomeTotal Investmentx100…
Q: , door-to-door solution for residential and commercial removals. As the market for removal services…
A: Operational income is a financial ratio that measures after operating expenses, which are the costs…
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: Income Statement Profit margin, return on investment, and residual income
Q: Snyder Brush Company sells standard hair brushes. The following information summarizes Snyder's…
A: Operating income is the income earned from the operations of the business. A company's operating…
Q: Sheridan Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60…
A: (A)
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: working notes : $190,000-$119,700=$70,300 Less: Income tax expense (21% of pretax income…
Q: retailer has three departments—Housewares, Appliances, and Clothing—and buys advertising that…
A: Advertising expense: It can be defined as the expense that is incurred by the business in the…
Q: A company has a product named Health booster powder and it has a profit volume ratio of 28%. Fixed…
A: Sales revenue to be made to earn desired profits: =(Fixed Cost incurred+ Profit) / Profit Volume…
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: Preparation of income statement helps the business entity in determining how much gross profit or…
Q: Company XYZ made total sales of $250,000 during the month of December. The company also incurred…
A: Current variable expenses = Total expenses x (100 - 60%) = $50,000 x 40% = $20,000 Fixed expenses =…
Q: . Prepare the income statement using the above informatio
A:
Q: Instruction: FOR TASK 1-3 Use Yellow paper for your solution/answer on each of the task. A. Compute…
A: As per the requirement of Question it is given that company continue tomaintain the cost Ratio while…
Q: Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR…
A: Break even point means a point where firm is neither earning profit nor incurring any loss. For…
Q: Calla Company produces skateboards that sell for $50 per unit. The company currently has the…
A: Answer 1: Workings:
Q: F3-5 A suppller sells MF Tires to dealers. The annual demand is approxlmately 1,000 tires. The…
A: Economic order quantity is the order quantity that is used by the businesses with a view to minimize…
Q: Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR…
A: Break-even analysis is a technique used widely by the production management. It helps to determine…
Q: Jorasmi Enterprise Trial Balance as at 31 December 2020 Debit RM Credit RM Particulars Inventory of…
A:
Q: The AAA Branch of SSS Company provided the following information related to its operations for the…
A: Contribution is calculated as a difference between sales and Variable cost. When Contribution is…
Q: Regression Analysis United States Motors Inc. (USMI) manufactures automobiles and lighttrucks and…
A: Regression analysis is a method of determining the relationship between two sets of variables when…
Q: Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR…
A: Cost accounting A method of managerial accounting under which the total cost of production is…
Q: Sales Mix Biblio Files Company is making plans for its next fiscal year, and decides to sell two…
A: Break even point(In units) = Fixed Cost/ Weighted Contribution Weighted Contribution = (Contribution…
Q: ABC Co. is selling its products to customers A, B and C. The following information is given for the…
A: Profitability statement shows the actual amount of profit or loss after subtracting all the costs…
Q: This year, Lambert Company will ship 1,500,000 pounds of goods to customers at a cost of $1,200,000.…
A: Formula: Cost per pound = Total cost / Number of pounds.
Q: Jorasmi Enterprise Trial Balance as at 31 December 2020 Particulars Debit Credit RM RM Inventory of…
A:
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: Income statement is the summary showing the revenues and costs in which the latter is subtracted…
Q: The following information is taken from the financial statement of Al Reem Manufacturing LLC for the…
A: Solution: total receipts amount for the month of March 2021 for Al Reem Manufacturing LLC = (100*5)…
Q: Gonzales Brush Company sells standard hair brushes.The following Information summarizes Gonzales's…
A: Introduction: Income statement: All revenues and expenses are recorded in income statement. It tells…
Q: Please show your solution in good accounting form. Thank you! JINN Corporation started a…
A: . A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and…
Q: Referring to the situation in P9.2 for Garcia Home Improvement Company, consider the following…
A: Lower-of-cost-or-net realizable value: The lower-of-cost-or-net realizable value (LCNRV) is a…
Q: Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR…
A: Breakeven point is that point of sales revenue at which business is recovering its fixed costs and…
Q: Conway Brush Company sells standard hair brushes. The following information summarizes Conway's…
A: Income statement: The income statement determines the net income of the business by subtracting the…
Step by step
Solved in 2 steps
- Park and West, LLC, provides consulting services to retail merchandisers in the Midwest. In 2019, they generated $993,729 in service revenue. Their total cost (fixed and variable) per client was $1,217 and they served 268 clients during the year. If operating expenses for the year were $291,276 what was their operating income?Complete this question by entering your answers in the tabs below. Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. Manufacturing costs Direct materials $ 35 per unit Direct labor $ 55 per unit Overhead costs Variable $ 30 per unit Fixed $ 7,350,000 (per year) Selling and administrative costs for the year Variable $ 775,000 Fixed $ 4,500,000 Production and sales for the year Units produced 105,000 units Units sold 75,000 units Sales price per unit $ 360 per unit Required 1 Required 2 Prepare an income statement for the year using variable costing. SIMS COMPANY Variable Costing Income Statement Net income (loss)The cost data for BC Billing Solutions for the year 2020 is as follows: Using the high-low method, express the companys overtime wages as an equation where x represents number of invoices processed. Assume BC has monthly fixed costs of $3,800. Predict the overtime wages if 9,000 invoices are processed. Predict the overtime wages if 6,500 invoices are processed. Using Excel, create a scatter graph of the cost data and explain the relationship between the number of invoices processed and overtime wage expense.
- A company uses charging rates to allocate service department costs to the using departments. The accountant compiled the following information on one of the service departments: If Department K plans to use 1,350 hours of the service departments service in the coming year, how much of the service departments cost is allocated to Department K? a. 3,375 b. 27,300 c. 26,325 d. 23,950The cost data for Evencoat Paint for the year 2019 is as follows: Using the high-low method, express the companys maintenance costs as an equation where x represents the gallons of paint produced. Then estimate the fixed and variable costs. Predict the maintenance costs i190,000 gallons of paint are produced. Predict the maintenance costs if 81,000 gallons of paint are produced. Using Excel, create a scatter graph of the cost data and explain the relationship between gallons of paint produced and equipment maintenance expenses.Show the solution in good accounting form Mary Corporation has a branch in Caloocan. During 2021, the home office shipped to the branch supplies costing P156,000 at a billed price of 30% above cost. The inventories of supplies at the branch were as follows: January 1, 2021 P110,000; December 31, 2021 128,000. On December 31, 2021, the home office holds inventories of P112,800 which includes P11,500 held on consignment and which excludes P5,000 inventories out on consignment. How much is the inventories in a combined balanced sheet as of December 31, 2021?
- Question Kindly answer in good accounting form. thank you! Maria Corporation has a branch in Caloocan. During 2021, the home office shipped to the branch supplies costing P156,000 at a billed price of 30% above cost. The inventories of supplies at the branch were as follows: January 1, 2021 P110,000; December 31, 2021 128,000. On December 31, 2021, the home office holds inventories of P112,800 which includes P11,500 held on consignment and which excludes P5,000 inventories out on consignment. How much is the inventories in a combined balanced sheet as of December 31, 2021?Enviro-Tech has only two retail and two whole-sale customers. Information relating to each customer for 2020 follows (in thousands): Wholesale Customers Retail Customers South North America Green Global America Wholesaler Energy Power Wholesaler $590,000 47,200 Revenues at list prices Discounts from list prices Cost of goods sold Delivery costs Order processing costs Costs of sales visits $375,000 25,800 285,000 4,550 3,820 6,300 $175,000 8,400 144,000 2,230 2,180 2,620 $130,000 590 510,000 6,710 5,980 2,620 95,000 2,145 1,130 1,575 Enviro-Tech's annual distribution-channel costs are $33 million for wholesale customers and $12 million for retail customers. The company's annual corporate-sustaining costs, such as salary for top management and general-administration costs are $48 million. There is no cause-and-effect or benefits- received relationship between any cost-allocation base and corporate-sustaining costs. That is, Enviro- Tech could save corporate-sustaining costs only if the…A company is planning to manufacture rocking chairs. The fixed cost is $40,000 and the cost pre rocking chair is $80. Each rocking chair will be sold for $180. In the space below, type in the formula for the revenue function, R(x), from the sale of x rocking chairs.
- Enviro-Tech has only two retail and two whole-sale customers. Information relating to each customer for 2020 follows (in thousands): Wholesale Customers Retail Customers South North America Green Global America Wholesaler Energy Power Wholesaler Revenues at list prices Discounts from list prices Cost of goods sold Delivery costs Order processing costs $590,000 $175,000 8,400 $375,000 25,800 285,000 4,550 3,820 6,300 $130,000 590 47,200 510,000 6,710 5,980 2,620 144,000 2,230 2,180 2,620 95,000 2,145 1,130 1,575 Costs of sales visits Enviro-Tech's annual distribution-channel costs are $33 million for wholesale customers and $12 million for retail customers. The company's annual corporate-sustaining costs, such as salary for top management and general-administration costs are $48 million. There is no cause-and-effect or benefits- received relationship between any cost-allocation base and corporate-sustaining costs. That is, Enviro- Tech could save corporate-sustaining costs only if the…Hewitt Enterprises is a business that buys and sells printers at a profit and has the following information available for the month of June 2020: There were 100 printers in the warehouse on 1Jun On 10Jun, 50 printers were bought from Printing Traders at R50 per printer. Another purchase of 50 printers were made from the same company for the same price on 20Jun 80 printers were sold during the month. The selling price for one printer is R90. Calculate the gross profit of Hewitt Enterprise for the month of June 2020PLEASE SHOW SOLUTIONS IN GOOD ACCOUNTING FORM. 8. Mary Corporation has a branch in Caloocan. During 2021, the home office shipped to the branch supplies costing P156,000 at a billed price of 30% above cost. The inventories of supplies at the branch were as follows: January 1, 2021 P110,000; December 31, 2021 128,000. On December 31, 2021, the home office holds inventories of P112,800 which includes P11,500 held on consignment and which excludes P5,000 inventories out on consignment. How much is the inventories in a combined balanced sheet as of December 31, 2021?