Hinge Manufacturing’s cost of goods sold is $420,000 variable and $240,000 fixed. The company’s selling and administrative expenses are $300,000 variable and $360,000 fixed. If the company’s sales is $1,580,000, what is its net income? Group of answer choices $860,000 $920,000 $260,000 $980,000
Q: vanhoe Company sells its product for $10400 per unit. Variable costs per unit are: manufacturing,…
A: Income = Sale - Variable Manufacturing - Variable Selling and admin - Fixed Manufacturing - Fixed…
Q: 1. Determine the total variable costs and the total fixed costs for the current year. Total variable…
A: Fixed cost: Fixed cost is a cost that remains the same, irrespective of the increase or decrease in…
Q: The net income or loss of the firm was:
A: ,Total cost: P54,000+35,000 =P89,000 Total revenue: 350* P140 =P49,000
Q: Bussy Company had sold 30,000 units of its product totaling $1,050,000 in sales and a net income of…
A: At the break-even point, Contribution margin = Fixed cost So, Fixed cost = $600,000
Q: Company XYZ made total sales revenue of $550,000. The variable manufacturing costs were $145,000…
A: Total contribution margin refers to the difference between total sales revenue and total variable…
Q: Mikasa Co. provides two products, Wood and Plastic. Wood accounts for 60 percent of total sales. The…
A: Break-even analysis is a technique widely used by production management. It helps to determine the…
Q: Sales revenue for XYZ Company is $1,000,000. The cost of goods sold is $450,000 and the operating…
A: Thus, the net operating income is $300,000.
Q: Bluegill Company sells 13,700 units at $400 per unit. Fixed costs are $274,000, and income from…
A: Formula: Contribution margin = Selling price - variable cost Deduction of variable cost from selling…
Q: The following is data from the Coft Company which manufactures and sells helmets. Cost Cost…
A: High Low Method. In cost accounting, the high low method is used to calculate the variable cost and…
Q: Frazer Corp sells several products. Information of average revenue and costs is as follows:…
A: Operating income reduced would be the difference between the current value of operating income and…
Q: Omega Company has sales of $336,000 and cost of goods sold of $218,000. The cost of goods sold is a…
A: Contribution margin is the sales revenue over and above total variable costs. Gross margin in the…
Q: Hepras, Inc., has two product lines: routers and ethernet switches. During the current month, the…
A: Note: Since you have asked multiple question, we will solve the first question for you. If you want…
Q: Last year, lerrific Copying had total revenue of $475 000, while operating at 60% of capacity. The…
A: Net Income: Income earned from the business or services after deducting the variable cost, fixed…
Q: How many units would the company have needed to sell to produce a profit of P12,000? * C NUBD…
A: Contribution per unit of A123=Sale per unit-Variable cost per unit=P 10-P10×70%=P3
Q: The following information is available for Wade Corp.: Sales…
A: CVP Income Statement is represented as sales less variable cost which comes to contribution margin…
Q: Staley Co. manufactures electronic equipment. The following is a summary of its basic cost and…
A: Solution: Introduction: Contribution margin is the incremental Profit earned for the units sold by…
Q: porated makes two types of industrial component parts - the B300 and the T500. The Income Statement…
A: The predetermined overhead rate refers to the rate which is used to apply t the manufacturing…
Q: Frazer Corp sells several products. Information of average revenue and costs is as follows: Selling…
A: Cost volume profit analysis is the technique used by the management for decision-making. The methods…
Q: A company that sells radios has yearly fixed costs of $600,000. It costs the company $45 to produce…
A: Given: To calculate the interpret of the given functions as,
Q: Darby Company, operating at full capacity, sold 122,200 units at a price of $102 per unit during the…
A: First we need to calculate the total fixed and variable cost.
Q: Orion Inc., is a newly organized manufacturing business that plans to manufacture and sell 30,000…
A: Contribution is the difference between the sales price and variable cost Contribution = Sales -…
Q: - Price Company sells its product for $100 per unit. The company's accountant provided the following…
A: Breakeven point is that point of sales revenue at which business is covering its fixed costs and…
Q: A cement manufacturer has supplied the following data: Tons of cement produced and sold $260,000…
A:
Q: markup percentage, using the product cost concept
A: Particulars Amount in $ Variable product cost 100000 units@$15 1500000 Fixed product cost…
Q: ABC Company sells a single product at a price of $250 per unit. Direct material is $45, direct labor…
A: Breakeven sales is the amount of sales revenue at which business is recovering its fixed costs and…
Q: Company XYZ made total sales revenue of $300,000. The variable manufacturing costs were $95,000…
A: Formula: Total contribution margin = Sales revenue - All variable expenses. Deducting all variable…
Q: Company XYZ made total sales revenue of $300,000. The variable manufacturing costs were $95,000…
A: Variable cost is a cost that changes according to the quantity produced but always remains the same…
Q: Company XYZ made total contribution margin of $500,000 and a net income of $120,000. The company…
A: Total Fixed Cost = Contribution Margin - Net Income Total Fixed Cost = $500,000 - $120,000 Total…
Q: Alder Inc. produced and sold 2,000 units of one product during the year. The company's net income…
A: Contribution margin ratio = 1- variable costs ratio = 1- 0.25 = 0.75 Total fixed costs = No. of…
Q: Darby Company, operating at full capacity, sold 159,800 units at a price of $111 per unit during the…
A: 4. 5. Working notes:
Q: Lin Corporation has a single product whose selling price is $120 per unit and whose variable expense…
A: Calculate the unit sales needed to attain a target profit of $10,000: 1. Contribution margin per…
Q: Rings Company has three product lines, A, B, and C. The following financial information is…
A: Pre Tax Operating Income (if Product Line C is Continued) = $15,500 + $31,500 - $950 = $46,050 Pre…
Q: Logan Electrics Inc. has fixed operating costs of $370,000, variable costs of $1.75 per unit…
A: In this question we need to compute the company's break even point in units. Break even point in…
Q: Stryker Industries received an offer from an exporter for 30,000 units of product at $19 per unit.…
A: Income per unit from acceptance of offer = Selling price per unit - Variable cost per unit = $19 -…
Q: Below is an income statement for Howell Company: Sales $600,000 Variable costs (150,000)…
A: The break even sales are the sales where business earns no profit no loss during the period. The…
Q: Company XYZ produces and sells 40,000 units.at this levelthe company is making a profit of $37,000 .…
A: The selling price is calculated by doing the reverse calculation. Total variable expenses and fixed…
Q: Darby Company, operating at full capacity, sold 159,800 units at a price of $111 per unit during the…
A: Hey, since there are multiple requirements posted, we will answer first three requirements. If you…
Q: West Liberty Inc's Division C has the following: Sales.. Variable cost of goods sold .. $210,000…
A: Net Income: The resultant amount after reducing all expenses of the company whether direct or…
Q: A cement manufacturer has supplied the following data: 220,000 Tons of cement produced and sold…
A: Sales revenue: Sales revenue is the amount earned by the company by selling the goods or providing…
Q: Darin Musical Company manufactures and sells parts for musical gadgets. The business earned net…
A: Hey, since there are multiple requirements posted, we will answer first three requirements. If you…
Q: Snower Corporation sells product G for $150 per unit, the variable cost per unit is $105, and the…
A: Introduction:- Snower Corporation sells product G for $150 per unit variable cost per unit is $105…
Q: In 20x2 the Cranky Processing Company had the following data coming from its income statement (in…
A: Solution: Target after tax income = P150,000 Target before tax income = P150,000 / 85% = P176,471…
Q: This year, Lambert Company will ship 1,500,000 pounds of goods to customers ata cost of $1,200,000.…
A: Answer) Calculation of Shipping Cost Assigned to the customer Shipping Cost Assigned to the customer…
Q: Diamond Company has three product lines, A, B, and C. The following financial information is…
A: The effect can be measured as the difference between contribution margin and avoidable cost.
Q: A company sells a product which has a unit sales price of $5, unit variable cost of $3 and total…
A: Break Even Point (BEP) represents that particular point of sale where there is no operating…
Q: A company sells a product which has a unit sales price of $65, unit variable cost of $45 and total…
A: Contribution per unit = Selling price per unit - Variable cost per unit Break-even point ( in units…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Starling Co. manufactures one product with a selling price of 18 and variable cost of 12. Starlings total annual fixed costs are 38,400. If operating income last year was 28,800, what was the number of units Starling sold? a. 4,800 b. 6,400 c. 5,600 d. 11,200Garrett Company provided the following information: Common fixed cost totaled 46,000. Garrett allocates common fixed cost to Product 1 and Product 2 on the basis of sales. If Product 2 is dropped, which of the following is true? a. Sales will increase by 300,000. b. Overall operating income will increase by 2,600. c. Overall operating income will decrease by 25,000. d. Overall operating income will not change. e. Common fixed cost will decrease by 27,600.Olivian Company wants to earn 420,000 in net (after-tax) income next year. Its product is priced at 275 per unit. Product costs include: Variable selling expense is 14 per unit; fixed selling and administrative expense totals 290,000. Olivian has a tax rate of 40 percent. Required: 1. Calculate the before-tax profit needed to achieve an after-tax target of 420,000. 2. Calculate the number of units that will yield operating income calculated in Requirement 1 above. (Round to the nearest unit.) 3. Prepare an income statement for Olivian Company for the coming year based on the number of units computed in Requirement 2. 4. What if Olivian had a 35 percent tax rate? Would the units sold to reach a 420,000 target net income be higher or lower than the units calculated in Requirement 3? Calculate the number of units needed at the new tax rate. (Round dollar amounts to the nearest dollar and unit amounts to the nearest unit.)
- Davidson company has sales of 100,000 variable cost of goods sold od $40,000 variables seeing expenses of $15,000 variable administrative expensive of 5,000 fixed selling expenses of $7000 and fixed administrative expenses of $9,000 what is Davidson's contribution Margin?The Variable Cost of Goods Sold in the Marin Company totals P325,000. Fixed selling and administrative expenses totaled P115,000 and variable selling and administrative expenses were P210,000. If Marin Company's contribution margin totaled P590,000, then sales is? What is the effect of this in the company of Marin? a.P650,000 B.Ph 915,000 C.Ph 1,030,000 D. Ph 1,125,000 Assume all of the problems are in real situation. What would be the effect of this in the company? and what would be the interpretation?The Variable Cost of Goods Sold in the Marin Company totals P325,000. Fixed selling and administrative expenses totaled P115,000 and variable selling and administrative expenses were P210,000. If Marin Company's contribution margin totaled P590,000, then sales is? What is the effect of this in the ompany of Marin? a.P650,000 B.Ph 915,000 C.Ph 1,030,000 D.Ph 1,125,000 Topic: Cost Volume Profit Please explain the nature of the problem, what is being asked, how to solve it and what would be the effect of that in Marin Company
- Waterway Industries’s cost of goods sold is $ 520000 variable and $ 290000 fixed. The company’s selling and administrative expenses are $ 400000 variable and $ 460000 fixed. If the company’s sales is $ 1950000, what is its net income? $ 1140000 $ 280000 $ 1030000 $ 1200000Che Assume the following intormation for a merchandisıng company: $ 500,000 $ 25,000 $ 350,000 $ 50,000 $ 40,000 $ 5,000 Sales Variable selling expenses Cost of goods sold Fixed administrative expenses Fixed selling expenses Variable administrative expenses What is the company's contribution margin? Multiple Choice $145,000. $125,000. $120,000. $150,000.The Variable Cost of Goods Sold in the Marin Company totals P325,000. Fixed selling and administrative expenses totaled P115,000 and variable selling and administrative expenses were P210,000. If Marin Company's contribution margin totaled P590,000, then sales is? What is the effect of this in the ompany of Marin? a.P650,000 B.Ph 915,000 C.Ph 1,030,000 D.Ph 1,125,000 Topic: Cost Volume Profit Please explain each clearly and solve in good form. Format: 1. What is the nature of the problem? 2. What is being asked in the problem? 3. Solution (with clear explanation on how it happened and step by step solution) (also explain why did you multiply, add, minus or divide) (explain every detail and the concept) 4. Conclusion (explain how you can relate it in real situation)
- Choose the correct letter of answer In 20x2 the Cranky Processing Company had the following data coming from its income statement (in Pesos): Sales, P1,200,000; Variable costs: (a) Goods sold, P400,000 and (b) S&A Expenses, P100,000; Fixed costs: (a) Factory overhead, P110,000, and S&A Expenses, P80,000. Income tax rate is 15%. Determine the required peso sales to provide an after-tax net income of P150,000. a. P261,765b. P176,471c. P366,471d. P628,235Starwise Company had the following amounts from its income statement: $100,000 Sales revenue 32,000 Cost of goods sold -fixed 25,000 Cost of goods sold -variable 9,000 Selling expenses - fixed Selling expenses - variable 11,000 Administrative expenses - fixed 12,000 Administrative expenses - variable 8,000 How much is Starwise's contribution margin? $56,000. O$3,000. O $75,000. $43,000.Sales revenue (6,000 units) $150,000 Cost of goods sold: Fixed costs $18,000 Variable costs 30,000 48,000 Gross profit 102,000 Operating expenses: Fixed costs 27,000 Variable costs 12,000 39,000 Operating income $ 63,000 How much is MDI’s total contribution margin?