FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A dining set costs a company $2,300 to manufacture. If it sells for $5,175, what is the percent markup based on cost?
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- A company sells a pizza for an average price of $20. They estimate that the cost of the material and labor to make one is $4. What is the gross profit margin for one pizza? 0.2 5 0.8 None are correctarrow_forwardA product has a sales price of $746 and a per-unit contribution margin of $131. What is the contribution margin ratio? Round to the nearest percentage, no decimals.arrow_forwardTequila Mockingbird, Inc. has total costs of $70,000 when it sells 10,000 units. If total fixed costs are $40,000, what is variable cost per unit?arrow_forward
- A company has fixed costs of $320,000 and a contribution margin per unit of $15. If the company wants to earn income of $40,000, how many units must be sold?arrow_forward4. If the price of the material is RO 15 per unit and the annual consumption is 4000 units, the interest and store keeping charges are 20% of the value and the cost of placing of an order and receiving the goods is RO 60, how much material should be ordered at one time?arrow_forwardYanks Ltd uses the following cost function: Y = $7000 + $8.50X. If the number of units produced in a month is 200, what would be the total cost?arrow_forward
- Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $800 per unit, of which $540 is product cost and $260 is selling and administrative expenses. In addition, the total cost of $800 is made up of $460 variable cost and $340 fixed cost. The desired profit is $168 per unit. Determine the markup percentage on total cost. %arrow_forwardA company has $6.70 per unit in variable costs and $4.10 per unit in fixed costs at a volume of 50,000 units. If the company marks up total cost by 0.40, what price should be charged if 60,000 units are expected to be sold? Round to two decimal places.arrow_forwardA company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixed costs of $220,892. The number of units the company must sell to break even is? Round your answer to the nearest unit.arrow_forward
- A restaurant has three main products: drinks, meals and desserts. Fixed costs are $397,000. Other financial information is as follows: Item drinks: meals desserts Average Purchase (in S) 10 25 10 Average Margin Total Sales Dollars (in %) 40 50 10 60% 20% 70% What are total sales (in dollars) needed to make a profit of $200,000, assuming that the sales mix remains constant? How many drinks would they need to sell in order to make a profit of $200,000, assuming that the sales mix remains constant.arrow_forwardSnow Now sells snowboards. Snow Now knows that the most people will pay for the snowboards is $129.99. Snow Now is convinced that it needs a 45% markup based on cost. The most that Snow Now can pay to its supplier for the snowboards is: A. $88.65 B. $98.65 C. $96.65 D. None of these E. $87.65arrow_forwardLovepreet's buys supplies to make pizzas at a cost of $5.54. Operating expenses of the business are 146% of the cost and the profit made is 141% of cost. What is the regular selling price of each pizza? Do not include the $ sign in your answer(s). Do not include the, to indicate thousands in your answer(s).arrow_forward
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