Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricing model with two alternatives for taxpayers: Standard Deduction (Standard) or Itemized Deductions (Itemized). Price and variable costs for the two services are listed below. Sales price (per return) Variable costs (per return) Standard $ 60.00 20.00 The annual fixed costs at Grixdale are $280,000. Based on experience, the owner estimates that Standard Deduction returns represent 25 percent of the the firm's business. Standard Deduction returns Itemized Deduction returns Itemized $ 270.00 50.00 Required: How many Standard Deduction and Itemized Deduction returns must be filed annually to break even? Break-Even Sales in Units

Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricing model with two alternatives for taxpayers: Standard Deduction (Standard) or Itemized Deductions (Itemized). Price and variable costs for the two services are listed below. Sales price (per return) Variable costs (per return) Standard $ 60.00 20.00 The annual fixed costs at Grixdale are $280,000. Based on experience, the owner estimates that Standard Deduction returns represent 25 percent of the the firm's business. Standard Deduction returns Itemized Deduction returns Itemized $ 270.00 50.00 Required: How many Standard Deduction and Itemized Deduction returns must be filed annually to break even? Break-Even Sales in Units

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 16MC: An example of an uncontrollable cost would include all of the following except______. A. real estate...

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Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricing model with two alternatives for taxpayers: Standard Deduction (Standard) or Itemized Deductions (Itemized). Price and variable costs for the two services are listed below. Sales price (per return) Variable costs (per return) Standard $190.00 150.00 The annual fixed costs at Grixdale are $507,500. Based on experience, the owner estimates that Standard Deduction returns represent 25 percent of the the firm's business. Itemized $ 530.00 310.00 Required: How many Standard Deduction and Itemized Deduction returns must be filed annually to break even? Standard Deduction returns Itemized Deduction returns Answer is complete but not entirely correct. Break-Even Sales in Units 12,688 2,302
Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricing model with two alternatives for taxpayers: Standard Deduction (Standard) or Itemized Deductions (Itemized). Price and variable costs for the two services are listed below. Itemized Sales price (per return) Variable costs (per return) Standard $ 60.00 20.00 $ 270.00 50.00 The annual fixed costs at Grixdale are $280,000. Based on experience, the owner estimates that Standard Deduction returns represent 25 percent of the the firm's business. Required: How many Standard Deduction and Itemized Deduction returns must be filed annually to break even? Standard Deduction returns Itemized Deduction returns Break-Even Sales in Units
Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricing model with two alternatives for taxpayers: Standard Deduction (Standard) or Itemized Deductions (Itemized). Price and variable costs for the two services are listed below. Standard Itemized Sales price (per return) $ 180.00 $ 510.00 Variable costs (per return ) 140.00 290.00 The annual fixed costs at Grixdale are $490,000. Based on experience, the owner estimates that Standard Deduction returns represent 25 percent of the the firm's business. Required: How many Standard Deduction and Itemized Deduction returns must be filed annually to break even?
R&R Tax Service offers tax and consulting services to individuals and small businesses. Data for fees and costs for three types of tax returns follow. Fixed costs total $39,680. Variable Cost Type of Return Easy Sales Mix Fee Charged $ 40 100 per Return $ 20 10% Moderate 50% 60 Business 40% 240 140 (1) Determine the weighted-average contribution margin. Sales mix Contribution margin per return Total per unit Easy 10% Moderate 50% Business 40% Weighted-average contribution margin (2) Determine the break-even point in units using the weighted-average contribution margin. Numerator: Denominator: Break Even Units = Break even units %3D (3) Determine the number of units of each product that will be sold at the break-even point. Sales mix Number of units to break even. Units sales at the break-even point Easy Moderate Business
R&R Tax Service offers tax and consulting services to individuals and small businesses. Data for fees and costs for three types of tax returns follow. Fixed costs total $49,880. Type of Return. Sales Mix Fee Charged Easy Moderate Business 10% 10% 80% $40 100 240 (1) Determine the weighted-average contribution margin. Weighted-average contribution margin $ Moderate Business Variable Cost per Return $ 20 60 140 (2) Determine the break-even point in units using the weighted-average contribution margin. Numerator: (3) Determine the number of units of each product that will be sold at the break-even point. Easy units units units Denominator: Break Even Units Break even units
Cullumber Company is considering two alternatives. Alternative A will have revenues of $147,300 and costs of $101,600. Alternative B will have revenues of $185,100 and costs of $122,800. Compare Alternative A to Alternative B showing incremental revenues, costs, and net income. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Revenues Alternative A Costs Net Income $ is better than $ SA $ Alternative B $ Net Income Increase (Decrease)
Or it can expressed as the investor sells goods to the associate for 65,000 (selling price), the selling price includes a mark up on cost of 30%. Profit made by seller= 65,000 * 0.3/1+0.3= 15,000 My instructor told me that in order to solve this problem, I need to convert the markup into the gross profit and then multiply it by the selling price. I didn’t get the idea of converting the markup into GP. Refering to the question, that is 0.3/1+0.3. If possible, please analyse this bit. That is all I need Thanks
1. a) A set of speakers regularly sells for $59.89. The speakers are on %23 sale today for 15% off of the regular price. Estimate the sale price of the speakers before tax. 3 b) Estimate the HST. c) Estimate the after-tax cost of the speakers.
ces R&R Tax Service offers tax and consulting services to individuals and small businesses. Data for fees and costs for three types of tax returns follow. Fixed costs total $48,640. Type of Return Sales Mix Fee Charged Easy 30% $ 70 Moderate 50% 170 Business 20% 410 Variable Cost per Return (1) Determine the weighted-average contribution margin. Easy Moderate Business $ 40 100 250 Sales mix Contribution margin per return Total per unit + 30% 50% 20% Weighted-average contribution margin (2) Determine the break-even point in units using the weighted-average contribution margin. Numerator: Denominator: (3) Determine the number of units of each product that will be sold at the break-even point. Number of units to break even. Sales mix Easy Moderate Business Break Even Units Break even units Units sales at the break-even point
Compute the sales dollars at which net income would be equal regardless of whether OMS sells through the independent sales agents (at 20% commission rate) or hire its own sales team. Which option would you recommend OMS adopt? Explain.
H. K 35 36 TABLE A TABLE B Annual Fixed Costs (TL) Marketing, Selling and Distribution Expenses Low Option High Option 725,000.00 37 Annually Estimated Annually Estimated Sales Administration Expenses 1,250,000.00 38 Sales 30,000.00 1,285.00 15,000.00 1,443.00 39 Price (TL) $4 Price (TL) 2$ R&D 379,000.00 40 Direct Fixed Costs 4,750,000.00 41 Materials Number Required Unit Costs (TL) Materials Number Required rqaaS 42 Stove 1 172.25 Stove 1 202.25 43 Oven 1 242.15 Oven 1 252.15 TAX RATE 44 Display Screen 45 Driver 1 19.25 Display Screen 2 36.24 2 18.10 Driver 2 18.10 20% 46 Electronic Card 1 11.97 Electronic Card Bluetooth 1 11.97 47 Bluetooth 1 11.16 1 11.16 48 Fan 2 7.99 Fan 8 7.99 49 Light Bulb 1 Light Bulb Smart Connectivity 4.99 5.99 50 39.99 51 Direct Labor Costs 85.32 52 Packaging Cost Per 49.27 Direct Labor Costs 10% Increase from LowOption's Direct Labor Cost Increase from LowOption's Packaging Cost 53 Packaging Cost Per Unit 4% 54 Instructions Answers
Cullumber Company is considering two alternatives. Alternative A will have revenues of $147,300 and costs of $101,600. Alternative B will have revenues of $185,100 and costs of $122,800. Compare Alternative B to Alternative A showing incremental revenues, costs, and net income. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Revenues Costs Net Income +A Alternative A ☑ is better than A Alternative B $ Net Income Increase (Decrease) $