plashtime is adding the option for a customer to purchase a ticket for $100 which would include a 2-day admission. The variable costs per person would be $68. Fixed costs would remain the same at $226,800. The following data is given below: Sales Variable Expenses Contribution Margin Fixed Expenses Net Operating Income What are total break-even sales? Multiple Choice $378.000 $453,600 One-day ticket $900,000 $360.000 $540,000 $1,400.000 Two-day ticket $500,000 $340.000 $160,000 Total $1,400,000 $700.000 $700,000 $226.800 $473.200
Q: The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as…
A: Income statement is the financial statement which is prepared by the entity for the purpose of…
Q: Hoi Chong Transport, Limited, operates a fleet of delivery trucks in Singapore. The company has…
A: VARIABLE COST Variable Cost is a cost that varies with the level of output.Variable costs include…
Q: A company compiled the following information for the current year. (Assume that all raw materials…
A: Cost of goods manufactured :— It is the total cost of completed finished goods transferred from work…
Q: ompanies allocate costs? What are some of th
A: The process by which a firm allocates and assigns its different expenses or costs to certain goods,…
Q: Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and…
A: MARGINAL COSTING INCOME STATEMENTMarginal Costing Income Statement is one of the Important Cost…
Q: What were Lore's 2005 net credit sales?
A: The account receivable turnover ratio indicates the number of times the average debtors have been…
Q: Major Company reported 2024 income of $309,000 from continuing operations before income taxes and a…
A: Net income is the amount of money earned by the entity after deducting all the expenses from the…
Q: Equipment that had been acquired several years ago by a special revenue fund at a cost of $40,000…
A: JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…
Q: Name some reasons why the taxable income of a corporation is likely not to be the same as its…
A: Financial income represents a company's earnings as reported in its financial statements according…
Q: Target Corporation Common Size Income Statement Total revenue Cost of sales Selling, general and…
A: Common size statements are used for the analysis of financial statements. The Common Size Income…
Q: [The following information applies to the questions displayed below] Del Gato Clinic's cash account…
A: Bank reconciliation statement is the one which is prepared by the entity for the purpose of…
Q: Miller Company's contribution format income statement for the most recent month is shown below: Per…
A: In case of multiple sub parts, we are allowed to solve only the first three sub parts. In order to…
Q: Hannam Co. decided to change from the declining-balance method of depreciation to the straight-line…
A: Retained earnings means the amount of money retained by the entity out of profits rather than paying…
Q: Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a…
A: Petty Cash FundA small cash fund's main objective is to give company units enough money to pay for…
Q: On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31,…
A: Income statement is one of the financial statements that shows the profitability, total revenue and…
Q: Sunland Company is constructing a building. Construction began on February 1 and was completed on…
A: Total weighted average capital expenditures (TWACE) is a measure of the combined amount of money…
Q: a. Prepare a differential analysis dated October 1 to determine whether to continue with…
A: Differential Analysis: Differential analysis is the process of comparing and contrasting the costs…
Q: a. Calvin's AGI is $140,000. Charitable contribution deduction Carryover 0
A: Adjusted Gross Income is the gross income after adjusting certain specific deductions.
Q: Current Attempt in Progress Large increases in inventory may cause an error in calculating the…
A: Cash flow statement means the statement which shows the cash inflow and outflow during the specified…
Q: Yost received 300 NQOs (each option gives Yost the right to purchase 10 shares of Cutter Corporation…
A: It is the increase or decrease in the value of an asset at a given date or time in comparison to its…
Q: Munoz Company is a retail company that specializes in selling outdoor camping equipment. The company…
A: Hi studentSince there are multiple subparts asked, we will answer only first three subparts.Budgets…
Q: At 12/31/X1, Suiza Inc. had $250 in assets and $130 in liabilities. For the year ended 12/31/X1, net…
A: Dividend is the money paid to the shareholders of the entity in the form of return. It is paid on…
Q: A yard tool manufacturer can produce either metal shovels or rakes. Given the following estimated…
A: When making a business decision or taking action, the differential cost, also known as incremental…
Q: 2. Calculating costs Susan is working for a consulting firm making $60,000 per year but considers…
A: Explicit costs are the direct costs incurred in running a business.Implicit costs are the…
Q: Define liabilities. Provide three examples.
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: counts Receivable cumulated Amortization cumulated Depreciation owance for Doubtful Accounts. Req 1…
A: The balance sheet represents the Financial position of the business with assets and liabilities on a…
Q: Indiana Company began a construction project in 2024 with a contract price of $165 million to be…
A: Contract accounting might be characterized as "the efficient account of the work done under each…
Q: Selected 2020 balance sheet and income statement information for Vkusno & Tochka Corporation and…
A: Return on assets is a ratio that tells about the profit that generated by the total assets during a…
Q: Flow of accounts into financial statements The balances for the accounts that follow appear in the…
A: Income Statement Is One Of The Three Major Financial Statements. IT Shows The Revenues, Expenses And…
Q: A company produces three components on the same machine. The components are used i the manufacture…
A: Variable costs are costs that vary with the change in the level of output.Buy cost is the cost of…
Q: Compound entries A. would include an entry to record the purchase of n computer for cash. B. include…
A: Recording of journal entries is initial step used in accounting cycle process. Under this, atleast…
Q: Determining the Optimal Product Mix with One Constrained Resource and a Sales Constraint Relax Spas…
A: LIMITING FACTOR Contribution margin is difference between selling price and variable cost.The…
Q: Q No. 02: BRAD Company uses a periodic inventory system. The company records show purchases and…
A: The LIFO Method is an inventory valuation method where the company uses those lots in production or…
Q: If the salaries expense is expected to increase by 10% to R40 150, then the salaries expense prior…
A: Salaries expense is the amount of wages paid or payable by employees during the period. Salaries…
Q: Financial Statements of a Manufacturing Firm The following events took place for Rushmore Biking…
A: An income statement, also known as a profit and loss statement (P&L), is a financial statement…
Q: Bonita Company's inventory records show the following data: Inventory: January 1 Purchases: June 18…
A: Using FIFO method, the oldest inventory is sold out and newer inventory is left in the stock. The…
Q: Giannini Incorporated, which produces and sells a single product, has provided the following…
A: Variable costs are costs that vary with the change in the level of output whereas fixed costs are…
Q: The following items appeared on the financial statements of Washington Company. Accounts receivable,…
A: Cash flow statement :— It is one of the financial statements that shows change in cash and cash…
Q: b. Prepare an income statement according to the variable costing concept. Gallatin County Motors…
A: Lets understand the basics.There are two methods for calculating operating income which are,(1)…
Q: (b) Assume that Leno uses target costing. What is the price that Leno would charge the retailer for…
A: Lets understand the basics.As per target costing technique, target cost gets by the deducting profit…
Q: Which of the following accounting concepts states that before a transaction is recorded, sufficient…
A: Accounting concepts are fundamental guidelines and principles that help ensure consistency,…
Q: Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in…
A: Regression analysis is a statistical method used to analyze the relationship between two or more…
Q: A petty cash fund was established with a $200 balance. It currently has cash of $40 and petty cash…
A: Lets understand the basics.Entity creates petty cash by moving some few amount of money into petty…
Q: Prepare the journal entries to record the following transactions on Sunland Company's books under a…
A: Journal Entry :— It is an act of recording transactions in books of account when transaction…
Q: Crane Corporation issued 360 shares of $10 par value common stock and 120 shares of $50 par value…
A: The shares issued in lump sum amount are allocated the cost on the basis of the market value of…
Q: Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a…
A: Lets understand the basics.There are two costing systems are followed which are,(1) Variable…
Q: Rahman Company began 2022 with 690,000 shares of common stock outstanding. On September 1, 2022…
A: It represents the portion of a company's profit allocated to each outstanding share of common stock.…
Q: Curt Rugs is holding a 2-week carpet sale at Jacob's Club, a local warehouse store. Curt Rugs…
A: This problem involves missing components which is to be ascertained step by step by a blend of…
Q: Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur…
A: The company makes sales on cash but the company also makes sales on account to grab more customers.…
Q: Relevant Range and High-Low Method The following selected data relate to the major cost categories…
A: Semi-variable costA semi-variable cost, also known as a mixed cost, is a cost that includes both…
Only type answer
Explain step by step
Step by step
Solved in 3 steps
- Wild-Water Works Water Park provides for a fun day by offering a variety of rides. Wild-Water Works Water Park sells tickets at $70 per person as a one-day entrance fee. Variable costs per person are $26 and a fixed cost amount to $217,700 per month.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. Compute the new contribution margin per unit and the contribution margin ratio if Wild-Water Works Water Park increase its variable costs to $30.Wild-Water Works Water Park provides for a fun day by offering a variety of rides. Wild-Water Works Water Park sells tickets at $69 per person as a one-day entrance fee. Variable costs per person are $24 and a fixed cost amount to $236,300 per month. (Round your answers to two decimal places when needed and use rounded answers for all future calculations). 1. Compute the new contribution margin per unit and the contribution margin ratio if Wild-Water Works Water Park cuts it ticket price to $40 per person. Net Sales revenue per unit Contribution margin / Net sales revenue = Contribution margin ratio (%) (Fixed Costs 2. Find the break-even point in units and in dollars using the contribution margin approach. (Reminder to write answer in whole units). + Variable costs per unit = Unit Contribution margin (Fixed Costs + Target Profit) / (Contribution Margin per unit) + + Target Profit) 1 = = 1 / (Contribution Margin ratio %) = = Required Sales in Units Required Sales in DollarsageNOWv2 | Online teachin X + m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress... A F Variable costs as a percentage of sales for Lemon Inc. are 72%, current sales are $610,000. and fixed costs are $191,000. How much will income from operations change if sales increase by $48,900? Oa. $13,692 decrease Ob. $13,692 increase Oc. $35,208 decrease. Od. $35,208 increase D Q 10+
- As manager of the St. Cloud Theatre Company,you have decided that concession sales will support themselves.The following table provides the information you have been ableto put together thus far:ITEM SELLING PRICE VARIABLE COST % OF REVENUESoft drink $1.00 $.65 25Wine 1.75 .95 25Coffee 1.00 .30 30Candy 1.00 .30 20Last year’s manager, Jim Freeland, has advised you to be sureto add 10% of variable cost as a waste allowance for all categories.You estimate labor cost to be $250.00 (5 booths with 2 peopleeach). Even if nothing is sold, your labor cost will be $250.00, soyou decide to consider this a fixed cost. Booth rental, which is acontractual cost at $50.00 for each booth per night, is also a fixedcost.a) What is the break-even volume per evening performance?b) How much wine would you expect to sell each evening at thebreak-even point?Selling Price :Rs. 12 Per UnitVariable Cost : 2/3 of SPFixed Cost :Rs. 40,000You are required to calculate:(i) Sales to earn profit of Rs. 8000.(ii) Also show the BEPs in Breakeven chart.Wild-Water Works Water Park provides for a fun day by offering a variety of rides. Wild-Water Works Water Park sells tickets at $75 per person as a one-day entrance fee. Variable costs per person are $34 and fixed cost amount to $221,100 per month. Wild-Water Works Water Park expects to sell 7,500 tickets. Find break-even first, then compute the margin of safety in tickets and sales in dollars. Net sales revenue per unit - Variable costs per unit = Unit contribution margin 1607 + (Fixed Costs +Target Profit) / Contribution Margin per unit = Required Sales in Units = Expected Sales Break-even sales = Margin of safety in units Margin of safety in units X Sales price per unit = Margin of safety in dollars X ||
- Refer to the original data ($30 ticket price per person). Prepare a Cost –Volume – Price (CVP) graph for the Extravaganza from a zero level of activity up to 600 tickets sold. Number of persons should be placed on the horizontal (X) axis, and dollars should be placed on the vertical (Y) axis4. Write two pros and two cons associated with the use of the Break even analysis as a planning tool.Use the accompanying Profit_Analysis spreadsheet model to answer the following questions. Assumptions: Fixed cost: $ 5,000.00 Material costs per item: $ 2.25 Labor costs per item: $ 6.50 Shipping costs per 100 items: $ 200.00 Price per item: $ 12.99 Quantity: 2000 Outputs: Total revenues: $ 25,980.00 Total costs: $ 26,500.00 Total profits: $ -520.00 1. Use the data table tool to show the impact of quantity ranging from 1,500 to 5,000 with 500 unit increments on the total revenues, total costs, and total profits. What are the revenues, costs, and profits for 3,500 units? 2. Use the data table tool to show the impact of labor costs ranging from $5.00 to $8.00 with $0.50 increments and price per item ranging from $10.99 to $15.99 with $1.00 increments on the total profits. What is the total profit if the labor costs are $6.50, and the price is $14.99? Note: Round your answers to 2 decimal places. 3.…Scholastic Tours is trying to decide which one of two tours It will introduce. The costs and revenues associated with each alternative are listed below: Projected revenue Variable costs Fixed costs Profit Multiple Choice What are the incremental (differential) costs of the Western Tour? $2,000. $3,000. Eastern Tour $16,000 2,000 3,000 $11,000 $6.000. Western Tour $18,000 8,000 3,000 $7,000 None of these choices are correct.
- Imaginationtime Park competes with Cool World by providing a variety of rides. Imaginationtime sells tickets at $60 per person as a one-day entrance fee. Variable costs are $24 per person, and fixed costs are $226,800 per month. Compute the contribution margin per unit and the number of tickets Imaginationtime Park must sell to break even. Perform a numerical proof to show that your answer is correct.Begin by selecting the formula labels and then entering the amounts to compute the contribution margin per unit. - = Contribution margin per unit - = Begin by selecting the formula labels and then entering the amounts to compute the number of tickets Imaginationtime must sell to break even. (Abbrevision used: CM = contribution margin. Complete all input fields. For items with a zero value, enter "0".) ( + ) ÷ = Required sales in units (…Playtime Park competes with Water World by providing a variety of rides. Playtime sells tickets at $110 per person as a one-day entrance fee. Variable costs are $44 per person, and fixed costs are $412,500 per month. The breakeven number of tickets is 6,250. If Playtime Park expects to sell 6,400 tickets, compute the margin of safety in tickets and in sales dollars.Funday Park competes with Cool World by providing a variety of rides. Funday sells tickets at $85 per person as a one-day entrance fee. Variable costs are $17 per person, and fixed costs are $428,400 per month. Compute Funday Park's contribution margin ratio. Carry your computation to two decimal places. Use the contribution margin ratio approach to determine the sales revenue Funday Park needs to break even. Begin by selecting the formula labels and then enter the amounts to compute the contribution margin ratio. (Enter you answer to the nearest percent, X%.) ÷ = Contribution margin ratio ÷ = % Begin by selecting the formula and then entering the amounts to calculate the sales in dollars Funday needs to break even. (Abbreviation used: CM = contribution margin. Complete all input fields. For items with a zero value, enter "0".) ( + ) ÷ = Required sales in dollars…