Mix and Break-Even Sales elated to the expected sales of laptops and tablets for Tech Products In ucts Unit Selling Price Unit Variable Cost Sales Mix $200 $140 20% 410 190 80% estimated fixed costs for the current year are $172,960. ops ets uired: etermine the estimated units of sales of the overall (total) product, E, ne
Q: Record the following transactions for the month of January of Thomas Cook, a small finishing…
A: 1. Journal Entries - Journal Entries are the record for the transactions enter into by the company…
Q: $990,000
A: Entry on issuance of Bond 1 may 2022. Cash/bank accounts dr. 990000 :to…
Q: Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance…
A: Journal entries are the reporting of the daily business transactions in the books of accounts. These…
Q: Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made…
A: Cash Collection Schedule :— This budget is prepared to estimate the collection of cash from customer…
Q: [The following information applies to the questions displayed below.] Emily Company uses a periodic…
A: The Last-In, First-Out (LIFO) method assumes that the last unit to arrive in inventory or more…
Q: Can you please provide the calculations that you used.
A: Current Assets - Current Assets is the assets which can convert into cash with in a span of one…
Q: Oriole Company's record of transactions concerning part X for the month of April was as follows.…
A: FIFO Method :— Under this method, beginning inventory and old purchases is used first for output or…
Q: LBC Corporation makes and sells a product called Product WZ. Each unit of Product WZ requires 3.7…
A: Budgeted direct labor cost is the direct labor costs to be incurred for the budgeted production for…
Q: At the end of August, Carrothers Company had completed Jobs 50 and 56. Job 50 is for 200 units, and…
A: Balance on the job cost sheet includes the cost of raw materials, direct labor and the amount of…
Q: America Inc., is considering the addition of a new maintenance services division. Opening the…
A: The cash flow stream is a systematic forecast of future cash flows. It is forecasted by professional…
Q: Differential Chemical produced 10,500 gallons of Preon and 14,000 gallons of Paron. Joint costs…
A: Joint costs occur when a firm produces a large number of products and its cost function cannot be…
Q: Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8%…
A: Introduction:- A dividend is a distribution of profits by a company to the shareholders. Share…
Q: Approximate state income tax $ Approximate federal tex $ Combined effective income tax rate $ and…
A: This is the follow-up question on this the amount has to be computed only as per the requirement of…
Q: Sheridan Zone Corporation experienced the following variances: materials price $390 U, materials…
A: Unfavorable results arises when actual costs results are greater than budgeted costs. Favorable…
Q: When calculating the earnings per share for the 2012 financial statements, the share split is…
A: Share split is the split which has been made by the company in which the shareholders will get the…
Q: Sheffield Corporation was organized on January 1, 2022. 1118 authorized to issue 11.000 shares of…
A: Journal entries refers to the entries which are passed by the businesses at the fiscal year end and…
Q: Bank L's balance sheet(in millions) is provided below.The bank does not have any off-balance-sheet…
A: Tier 1 Capital is Sum of Equity and Retained Earning
Q: Complete the following by calculating the cash discount and net amount paid: (If more than one…
A: Note: 2/10,1/15, n/30: Here, 2 represents the discount rate if payment is made within ten days and 1…
Q: The adjusted trial balance of Emest Real Estate Appraisal at June 30, 2024, follows: (Click the icon…
A: Income Statement - The income statement includes all the income earned and expenses incurred during…
Q: Gifts
A: Tax is a compulsory payment made to the government of the country. It is made as a percentage of…
Q: Bridgeport Corporation was organized on January 1, 2022. It is authorized to issue 14,500 shares of…
A: Cash received on issue of common stock = 81,500×$6 = $489,000
Q: Alice is single and self-employed in 2022. Her net business profit on her Schedule C for the year is…
A: Formula: Self-employment tax liability=Medicare tax+Social security tax
Q: Two machines are evaluated for a new project. described in the following table. Determine EUAC for…
A: Introduction:- EUAC means Equivalent Uniform Annual Cost. It is used to calculate annual cost and…
Q: 2 Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,000…
A: In order to satisfy the needs of the production budget, the direct materials budget computes the…
Q: A stock has a beta of 1.61, the expected return on the market is 0.07, and the risk-free rate is…
A: Return on stock :— It is the rate of return expected by the investors of stock. According to CAPM…
Q: Preparing Entries and Interest Schedule for Long-Term Note Receivable; Effective Interest Method On…
A: Req : a Computation of Present Value of Notes receivable: Table Value are Based on:…
Q: Cash collections for Wax On Candles found that 58% of sales were collected in the month of the sale,…
A: Cash collections means the amount of cash collected by an entity during a particular period. It is…
Q: The following costs were incurred during the most recent month for a company that makes both wooden…
A: VARIABLE COST Variable Cost is not varry on per unit Basis. Variable cost are cost that change as…
Q: urchases (gross) eight-in les revenue les returns 628,400 31,900 1,029,400 74,600
A: a retail operation does not mention the cost of goods manufactured, as it sells the products that…
Q: Identify any corporate governance issues that hinder smooth financial management that prevail in…
A: What is Corporate governance? Corporate governance is the system, process and practices by which…
Q: AMP Corporation (calendar year-end) has 2022 taxable income of $1,900,000 for purposes of computing…
A: MACRS: MACRS stands for Modified Accelerated Cost Recovery System. This is used to calculate…
Q: Goldenrod Company makes artificial flowers and reports the following data for the month: Purchases…
A: Production cost: It implies to the expense that is incurred by a business in the process of…
Q: On October 1, 2020, CO. A PURCHASED EQUPMENT FOR $210,000. The estimated useful life of the…
A: Depreciation is a non cash expense which is incurred in every organization. It reduces the value of…
Q: Blue Spruce Inc. has two divisions. Division A makes and sells student desks. Division B…
A: In the given question, Division B has manufacturing capacity of 41,000 lamps annually. Currently it…
Q: Complete the following table: Note: Do not round net price equivalent rate and single equivalent…
A: The rate that is ascertained after minimizing all the discounts that a seller provides to the…
Q: Instructions Cash Accounts Receivable. Cleaning Supplies Prepaid Insurance Office Equipment Accum.…
A: Worksheet - The worksheet includes unadjusted Trial Balance, Adjustments, and Adjusted Trial…
Q: loud music and is willing to pay $9 for the first song and $1 less for each succeeding song ($8…
A: If the benefits produced from the investment are sufficient to justify the investment than it can be…
Q: The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the…
A: Ending balance of Retained earnings = Beginning balance of Retained earnings + Net income -…
Q: Kindly answer the two question. NO EXPLANATION NEEDED. Thankyou 1. Choose the right answer. No 1.…
A: Answer:- costing system meaning:- A costing system is made to keep track of a company's expenses.…
Q: What is a normal costing system, and why do companies tend to use a normal costing system to apply…
A: Cost is the total amount that has been spent on production of goods or rendering of services. Cost…
Q: The RLX Company just paid a dividend of $315 por share on its stock. The dividends are expected to…
A: The dividend is the distribution of profit to the shareholders. The dividend growth model can be…
Q: Prepare a 2020 income statement for Carla Vista Corporation based on the following information: Cost…
A: Income Statement For the Year Ended December 31, 2020 Sales revenue $735,000 Cost of goods sold…
Q: A contractual agreement where two or more parties undertake an economic activity that is subject to…
A: Joint control is the agreement in which it is agreed to sharing control over the economic activity.…
Q: XIV. Allocating the Transaction Price Ging Systems sold software to a customer for P80,000. As part…
A:
Q: The following information is available for Border Limited, which adjusts and closes its accounts at…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Entrepreneurial Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were…
A: The journal entries are prepared to keep the record of day to day transactions of the business of…
Q: Equipment costing $120,000, with a scrap value of $20,000 was purchased on January 1, by Global…
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…
Q: Use the information provided to determine the answers to the following questions: A. What is the…
A: A. The total amount owned to Joe torre tea by its customer at the end of the year $3,900.00…
Q: Blue Spruce's Medical operates three support departments and two operating units, Surgery and ER.…
A: In the reciprocal method of calculating allocation of cost, there are three methods used:…
Q: On January 1, Boston Enterprises issues bonds that have a $1,650,000 par value, mature in 20 years,…
A: Interest paid is the actual amount of interest which is paid to the bondholders. It is calculated by…
Please help me
Step by step
Solved in 4 steps
- Sales Needed to Earn Target Income Chillmax Company plans to sell 3,500 pairs of shoes at 60 each in the coming year. Variable cost is 35% of the sales price; contribution margin is 65% of the sales price. Total fixed cost equals 78,000 (includes fixed factory overhead and fixed selling and administrative expense). Required: 1. Calculate the sales revenue that Chillmax must make to earn operating income of 81,900 by using the point in sales equation. 2. Check your answer by preparing a contribution margin income statement based on the sales dollars calculated in Requirement 1.Faldo Company produces a single product. The projected income statement for the coming year, based on sales of 200,000 units, is as follows: Required: 1. Compute the unit contribution margin and the units that must be sold to break even. Suppose that 30,000 units are sold above the break-even point. What is the profit? 2. Compute the contribution margin ratio and the break-even point in dollars. Suppose that revenues are 200,000 greater than expected. What would the total profit be? 3. Compute the margin of safety in sales revenue. 4. Compute the operating leverage. Compute the new profit level if sales are 20 percent higher than expected. 5. How many units must be sold to earn a profit equal to 10 percent of sales? 6. Assume the income tax rate is 40 percent. How many units must be sold to earn an after-tax profit of 180,000?Refer to Cornerstone Exercise 3.4 for data on Dohini Manufacturing Companys purchasing cost and number of purchase orders. The controller for Dohini Manufacturing ran regression on the data, and the coefficients shown by the regression program are: Required: 1. Construct the cost formula for the purchasing activity showing the fixed cost and the variable rate. 2. If Dohini Manufacturing Company estimates that next month will have 430 purchase orders, what is the total estimated purchasing cost for that month? (Round your answer to the nearest dollar.) 3. What if Dohini Manufacturing wants to estimate purchasing cost for the coming year and expects 5,340 purchase orders? What will estimated total purchasing cost be? (Round your answer to the nearest dollar.) What is the total fixed purchasing cost? Why doesnt it equal the fixed cost calculated in Requirement 1?
- Schylar Pharmaceuticals, Inc., plans to sell 130,000 units of antibiotic at an average price of 22 each in the coming year. Total variable costs equal 1,086,800. Total fixed costs equal 8,000,000. (Round all ratios to four significant digits, and round all dollar amounts to the nearest dollar.) Required: 1. What is the contribution margin per unit? What is the contribution margin ratio? 2. Calculate the sales revenue needed to break even. 3. Calculate the sales revenue needed to achieve a target profit of 245,000. 4. What if the average price per unit increased to 23.50? Recalculate: a. Contribution margin per unit b. Contribution margin ratio (rounded to four decimal places) c. Sales revenue needed to break even d. Sales revenue needed to achieve a target profit of 245,000Sales Mix and Break-Even Sales Data related to the expected sales of laptops and tablets for Tech Products Inc. for the current year, which is typical of recent years, are as follows: Products Unit Selling Price Unit Variable Cost Sales Mix Laptops $200 $140 20% Tablets 450 210 80% The estimated fixed costs for the current year are $195,840. Required: 1. Determine the estimated units of sales of the overall (total) product, E, necessary to reach the break-even point for the current year. units 2. Based on the break-even sales (units) in part (1), determine the unit sales of both laptops and tablets for the current year. Laptops: units Tablets: units 3. Assume that the sales mix was 80% laptops and 20% tablets. Determine the estimated units of sales of the overall product necessary to reach the break-even point for the current year. unitsSales Mix and Break-Even Sales Data related to the expected sales of laptops and tablets for Tech Products Inc. for the current year, which is typical of recent years, are as follows: Products Unit Selling Price Unit Variable Cost Sales Mix Laptops $230 $160 30% Tablets 480 230 70% The estimated fixed costs for the current year are $729,120. Required: 1. Determine the estimated units of sales of the overall (total) product, E, necessary to reach the break-even point for the current year.fill in the blank 1 units 2. Based on the break-even sales (units) in part (1), determine the unit sales of both laptops and tablets for the current year. Laptops: fill in the blank units Tablets: fill in the blank units 3. Assume that the sales mix was 70% laptops and 30% tablets. Determine the estimated units of sales of the overall product necessary to reach the break-even point for the current year.fill in the blank 4…
- Sales Mix and Break-Even Sales Data related to the expected sales of laptops and tablets for Tech Products Inc. for the current year, which is typical of recent years, are as follows: Products Unit Selling Price Unit Variable Cost Sales Mix Laptops $280 $190 20% Tablets 560 260 80% The estimated fixed costs for the current year are $1,362,240. Required: 1. Determine the estimated units of sales of the overall (total) product, E, necessary to reach the break-even point for the current year.fill in the blank 1 units 2. Based on the break-even sales (units) in part (1), determine the unit sales of both laptops and tablets for the current year. Laptops: fill in the blank 2 units Tablets: fill in the blank 3 units 3. Assume that the sales mix was 80% laptops and 20% tablets. Determine the estimated units of sales of the overall product necessary to reach the break-even point for the current year.fill in the blank 4 units Why is it so different? The…Sales Mix and Break-Even Sales Data related to the expected sales of laptops and tablets for Tech Products Inc. for the current year, which is typical of recent years, are as follows: Products Unit Selling Price Unit Variable Cost Sales Mix Laptops $1,200 $600 40% Tablets 700 350 60% The estimated fixed costs for the current year are $4,500,000. Required: 1. Determine the estimated units of sales of the overall (total) product, E, necessary to reach the break-even point for the current year. units 2. Based on the break-even sales (units) in part (1), determine the unit sales of both laptops and tablets for the current year. Laptops units Tablets units 3. Assume that the sales mix was 60% laptops and 40% tablets. Compare the break-even point with that in part (1). Why is it so different? units The break-even point is lower in this scenario than in part (1) because the sales mix is weighted more heavily toward the product with the higher contribution margin per unit of product.Sales Mix and Break-Even Sales Data related to the expected sales of laptops and tablets for Tech Products Inc. for the current year, which is typical of recent years, are as follows: Products Unit Selling Price Unit Variable Cost Sales Mix Laptops $1,200 $600 40% Tablets 700 350 60% The estimated fixed costs for the current year are $2,250,000. Required: Determine the estimated units of sales of the overall (total) product, E, necessary to reach the break-even point for the current year._____units Based on the break-even sales (units) in part (1), determine the unit sales of both laptops and tablets for the current year. Laptops _______units Tablets _______units Assume that the sales mix was 60% laptops and 40% tablets. Compare the break-even point with that in part (1). Why is it so different?_____units
- Sales mix and break-even salesData related to the expected sales of laptops and tablets for TechProducts Inc. for the current year, which is typical of recent years, are asfollows: Products Unit Selling Price Unit Variable Cost Sales Mix LaptopsTablets $1,600850 $800350 40%50% The estimated fixed costs for the current year are $2,498,600. Instructions1. Determine the estimated units of sales of the overall (total)product, E, necessary to reach the break-even point for the currentyear. 2. Based on the break-even sales (units) in part (1), determine theunit sales of both laptops and tablets for the current year.3. Assume that the sales mix was 50% laptops and 50% tablets. Compare the break-even point with that in part (1). Why is it so different?Sales Mix and Break-Even Sales Data related to the expected sales of laptops and tablets for Tech Products Inc. for the current year, which is typical of recent years, are as follows: Products Unit Selling Price Unit Variable Cost Sales Mix Laptops $1,400 $700 40% Tablets 800 400 60% The estimated fixed costs for the current year are $12,064,000. Required: 1. Determine the estimated units of sales of the overall (total) product, E, necessary to reach the break-even point for the current year. units 2. Based on the break-even sales (units) in part (1), determine the unit sales of both laptops and tablets for the current year. units Laptops units Tablets 3. Assume that the sales mix was 60% laptops and 40% tablets. Compare the break-even point with that in part (1). Why is it so different? units toward the V in this scenario than in part (1) because the sales mix is weighted more heavily The break-even point is lower MV of product. product with the higher contribution margin per unit…Sales Mix and Break-Even Sales Data related to the expected sales of laptops and tablets for Tech Products Inc. for the current year, which is typical of recent years, are as follows: Products Unit Selling Price Unit Variable Cost Sales Mix Laptops $1,000 $500 40% Tablets 600 300 60% The estimated fixed costs for the current year are $3,192,000. Required: 1. Determine the estimated units of sales of the overall (total) product, E, necessary to reach the break-even point for the current year.fill in the blank 1 units 2. Based on the break-even sales (units) in part (1), determine the unit sales of both laptops and tablets for the current year. Laptops fill in the blank 2 units Tablets fill in the blank 3 units 3. Assume that the sales mix was 60% laptops and 40% tablets. Compare the break-even point with that in part (1). Why is it so different?fill in the blank 4 units The break-even point is in this scenario than in part (1) because the sales mix is…
