QUESTION 14 THE FOLLOWING INFORMATION IS USED FOS QUESTIONS 13-19. Test Company reported the following income statement for the most recent period. Sales (8,000 units) Variable expenses Contribution margin Fixed expenses Operating income $160,000 96.000 64,000 30.000 $34.000 Determine the number of units Test Company must sell to earn operating income of $50,000. Note: Give your answer using commas. Do not include the word "units." Example: 12,345
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- TB MC Qu. 2-61 (Algo) The following income statements are provided... The following income statements are provided for Li Company's last two years of operation: Year 1 Year 2 Number of units produced and sold 4,200 Sales revenue 009 $71,760 $65,520 Cost of goods sold Gross margin General, selling, and administrative expenses 39,760 36,460 000 17,540 18,820 090 Net income $13,180 $11,520 Assuming that cost behavior did not change over the two-year period, what is the annual amount of the company's fixed manufacturing overhead? Multiple Choice ) $1,810 $3,620 $5,620 None of these < Prev 3 of search ANENabled: MGMT8500-Midterm Exam - Wednes... i The Central Valley Company is a manufacturing firm that produces and sells a single product. The company's revenues and expenses for the last four months are given below. Sales in units Sales revenue Less: Cost of goods sold Gross margin Less: Operating expenses Shipping expense Advertising expense Salaries & commissions Insurance expense Depreciation expense Total operating expenses Net income Central Valley Company Comparative Monthly Income Statements March COGS Shipping Salaries and commissions Y Y Y 5,900 $755,200 386,400 368,800 = 68,800 79,000 174,100 9,900 + April + May 6,150 $691,200 $787,200 359,400 394,900 331,800 392,300 + 5,400 71,800 79,000 174,800 9,900 48,000 48,000 379,800 383,500 $(11,000) $(26,700) $8,800 Saved 64,300 79,000 157,300 Required: 1. Management is concerned about the losses experienced during the spring and would like to know more about the cost behaviour. Develop a cost equation for each of the costs. 9,900…Bett Inc. has the following 8 units A-H Description A B Assets 50 70 Revenue Profit Units 7 C 40 650 870 350 7.5 3.5 D 60 800 4 E 89 950 9 F 78 750 5 Which units are to be reported as per segmental reporting? Show all calculations with brief explanations to support your answer. G 52 990 3.2 H 46 590 2.8 TOTAL 485 5950 42
- Shanika Company Income Statement For the Year Ended December 31, 20Y6 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses: Total operating expensesBlossom Manufacturing Ltd. had sales for January 2022 of $1,025,000. The units sold were 20.500, and the expenses for January 2022 were as follows: Cost of goods sold Selling expenses Administrative expenses Show Transcribed Text Variable $207.050 56.375 29,725 Fixed $123,000 28,700 35,875 10 C Blossom Manufacturing Inc. CVP Income Statement Total Per unit2. The following data are given on the only one product of Glory Co. 2020 2021Sales volume 3,000. 2,600Unit Selling price. P 8.00. P 11.00Unit cost. 5.00 9.00 Prepare the gross profit statement and analyze the variation in gross profit
- Question 1: Pamlico Manufacturing Ltd has the following information given in the table below. 12.50 Sales per unit Variable production cost per unit Variable administration sales and distribution per 7.50 1.00 unit Fixed production costs 37 500 18 750 Fixed administration sales and distribution Opening inventory in units Units produced 2 500 25 000 At the beginning of December 2018, there were 2 500 units in inventory. Required: Draw up a staement of comprehensiy income according to margial costing principlesor three differenevels of sales, for the moth of December 12 500 units b) 18 750 units c) 25 000 units Question 2 Using the above information on Pamlico Manufacturing Ltd, prepare the statement of comprehensive income using absorption costing principles for the month of December and assume the following: 1. Normal level of activity is 25 000 shirts per month. 2. Fixed production costs were 37 500 for the month.The following data is from the income statement of Ralston Company: Revenue Cost of goods sold $5,000 (2,850) Operating expenses (800) Net income $ 1,350 What is the company's gross margin percentage? Note: Round your answers to three decimal places. Multiple Choice O O O O 62.790% 27.000% 57.000% 43.000%COMPUTATIONS: Given the following data for SUPERCALIFRAGILISTICEXPIALIDOCIOUS COMPANY for the year ended December 31, 200X: Cost of sales Distribution costs Administrative expenses PhP 5,400,000 1,350,000 1,000,000 200,000 Other income Php 1,400,000 320,000 9,000,000 50,000 Other expenses Net sales Finance costs Prepaid expenses Tax rate is at 30% 11..Gross income а. 3,600,000 b. 5,000,000 с. 2,130,000 d. 1,491,000 12. Total income а. 3,600,000 b. 5,000,000 с. 2,130,000 d. 1,491,000 13. Total expenses a. 1,320,000 b. 2,350,000 c. 2,870,000 d. 2,670,000 14. Income before tax a. 3,600,000 b. 1,491,000 c. 7,530,000 d. 2,130,000
- Assume Carla Vista Company has the following reported amounts: Sales revenue $1,489,000, Sales returns and allowances $44,000. Cost of goods sold $955,145, and Operating expenses $321,200. (a) Compute net sales. Net sales $ (b) Compute gross profit. Gross profit $ (c) Compute income from operations. Income from operations $ (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2%.) Gross profit rate %of 3 ook ences Required information [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. 104 units @ $24 334 units @ $36 Beginning inventory Units purchased Ending inventory consisted of 36 units. Mason sold 402 units at $72 each. All purchases and sales were made with cash. Operating expenses amounted to $3,150. Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.) FIFO LIFO Weighted average Gross MarginRequired information For Year Ended December 31 Sales Cost of goods sold Other operating expenses Current Year $ 411, 225 209,550 12, 100 9,525 $ 673,500 642, 400 $31,100 $ 1.90 :. -. - == ....... 9 US Sa M