FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Arm’s CVP income statement included sales of 4,000 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $88,000. Net income is $400,000. $160,000. $152,000. $72,000.arrow_forwardMarigold’s CVP income statement included sales of 3100 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $110000. Net income is $14000. $76000. $310000. $124000.arrow_forwardSimmons Corp. has a selling price of $11, variable costs of $2 per unit, and fixed costs of $24,852. Simmons net income is $44,370. How many units did Simmons sell? Round your units to nearest whole numberarrow_forward
- Swifty’s CVP income statement included sales of 6600 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $110000. Contribution margin is $264000. $660000. $154000. $396000.arrow_forwardBramble Corp. sells 100000 units for $12 a unit. Fixed costs are $350000 and net income is $150000. What should be reported as variable expenses in the CVP income statement? $500000. $1050000. $700000. $850000.arrow_forwardMarigold’s CVP income statement included sales of 3100 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $110000. Contribution margin is $14000. $186000. $310000. $124000.arrow_forward
- Chelsea Company has sales of $400,000, variable costs of $10 per unit, fixed costs of $100,000, and a profit of $60,000. How many units were sold?arrow_forwardSheffield Corp. sells 200000 units for $14 a unit. Fixed costs are $350000 and net income is $250000. What should be reported as variable expenses in the CVP income statement? $2200000. $2550000. $600000. $2450000.arrow_forwardMonster Inc. sells 100,000 for $120 a unit. Fixed costs are $300,000, and net income is $200,000. What should be reported as variable expense in CVP income statement?arrow_forward
- P Company has provided the following data: Sales Price per unit: $50. Variable Cost per unit: $30; Fixed Cost: $135,000 Expected Sales: 20,000 units. d. Determine the margin of safety in dollars. e. If the company wants to have net income of $70,000, how many units must they sell.arrow_forwardAssume the following (1) selling price per unit = $25, (2) variable expense per unit = $13, (3) unit sales = 2,640, and (4) total fixed expenses = $25,000. Given these four assumptions, net operating income must be: Multiple Choice $9,320. $6,680. $41,000. $27,640.arrow_forwardPrearcan CVBA's income statement shows the following: Sales Revenue: $9,121,000 Variable Costs: 4,797,000 Fixed Costs: 3,946,000 If unit sales were 5,000, the contribution margin per unit to the nearest cent is : $arrow_forward
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