Whirly has the following information for 2015. They sell Flying Carpets.SalesContribution MarginNet Income1. Complete a table for Whirly.Total$400,000$150,000$15,000CVP and BEPQuantity10,000 Flying CarpetsPer UnitRatio ToSales 2. What is the variable cost per unit?3. What is the sales price per unit?4. Determine CM per unit and CM Ratio.5. Determine the Break-Even-Point in Quantity and Sales Dollars.TotalQuantityPer UnitRatio ToSales☐☐☐☐☐

The break even sales are the sales where business earns no profit no loss during the period. The…

Answered: Whirly has the following information…

Whirly has the following information for 2015. They sell Flying Carpets. Sales Contribution Margin Net Income 1. Complete a table for Whirly. $400,000 $150,000 $15,000 10,000 Flying Carpets

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: A carpet store sells designer rugs at retail for $845.61. If a 50% markup based on cost is added,…

A: The retail price includes the cost price and the markup value. The cost of goods manufactured is the…

Q: Bed & Bath, a retailing company, has two departments-Hardware and Linens. The company's most recent…

A: Unavoidable fixed cost are not relevant for decision making, because they remain constant Even…

Q: Analyzing profitability Relative Furniture Company manufactures and sells oak tables and chairs.…

A: contribution margin:- It is defined as the amount that is recovered towards profit and fixed cost of…

Q: Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and…

A: Variable cost means the cost which vary with the level of output and fixed cost means the cost which…

Q: Income statement in $ Sales COGS Gross profit 300000 Operating expenses 200000 EBIT Interest…

A: The cost of goods sold is the cost of producing or acquiring the goods sold during the year. Direct…

Q: Bed & Bath, a retailing company, has two departments-Hardware and Linens. The company's most recent…

A: A contribution margin profits announcement subtracts all variable fees from income to calculate the…

Q: Lindon Company is the exclusive distributor for an automotive product that sells for $26.00 per unit…

A: 1. CM Ratio: Contribution Margin Ratio, the percentage of selling price that covers expenses.2.…

Q: Need answer please provide correct answer

A: To determine the gross margin percentage for the company, we first need to calculate the gross…

Q: Company A has developed a new item. They sell the item directly to multiple retailers who sell them…

A: Introduction ROS (Return on sales): A financial statistic called return on sales determines how well…

Q: Happy Toes produces sports socks. The company has fixed expenses of $ 95 comma 000$ 95,000 and…

A: MARGINAL COSTING INCOME STATEMENT Marginal Costing Income Statement is one of the Important Cost…

Q: Your campus computer store reported Sales Revenue of $175,000. The company's gross profit percentage…

A: Lets understand the basics. Gross profit is a amount which derived by the entity after deducting…

Q: # 5. The Windy Wind Chime Company has been producing and selling wind chimes for a number of years.…

A: Operating income=Sale-Variable cost-Fixed cost

Q: Determine the missing data for each letter in the following three income statements for Fulco…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: Snyder Brush Company Ltd sells standard hairbrushes. The following information summarises Snyder's…

A: >Income Statement is prepared as part of the Financial Statements. >It lists and shows various…

Q: 1. Compute the given in your module dated December 2018 using vertical analysis 2. Interpret the…

A: Income statement shows the profit earned or loss incurred during the period.

Q: Calculating profit/loss of a business.

A: Break even point is the situation where the company is not able to earn profit and it does not incur…

Q: Prepare the sales section of a multiple-step income statement based on this information. Barto…

Q: I need help with this question. Please show work, thank you! If net sales are $400,000 cost of goods…

A: The term" cost of goods sold"( COGS) describes the escalation of fund charges a business incurs when…

Q: The cost to print a hat for a conference is $40 for the printing setup fee and $10 per hat You plan…

A: Costs can be fixed or variable in nature.Fixed costs are constant irrespective of the output…

Q: Each shade requires a total of $45.00 in direct materials that includes 4 adjustable poles that cost…

A: Budget is termed as estimation of revenue and expenses that can happen in a future. In a simple…

Q: Handy Home sells windows and doors in the ratio of 8:2 (windows:doors). The selling price of each…

A: Break Even Point - It is point at which, business generate equal amount profit against the cost…

Q: Provide all 8 solutions

A: Montoure Company's inventory and sales data lead to the following results:Cost of Goods Available…

Q: Allocate a retailer’s purchasing department’s costs of $20,000 to its operating departments using…

A: Activity based costing system: It is precise method of allocation of overhead to the products. Under…

Q: Q1) Pier 1 Imports operates almost 1,000 stores around the world. Assume you are dealing with a Pier…

A: The perpetual inventory system records the cost of goods sold and sales with every transaction made…

Q: Shadee Corporation expects to sell 540 sun shades in May and 410 in June. Each shade sells for $168.…

A: BUDGETED INCOME STATEMENT: Budgeted Income Statement is prepared with the help of other budget such…

Q: Please help this is due today

A: The overtime wages are paid when employees work for more hours than the regular hours of working.

Q: Mary is a sales person for Challenge Furniture. She receives an incremental commission based on the…

A: Commission to be paid by Challenge Furniture to Mary is based on sales made by her.

Q: A home decorating store carries handmade floor tile with a markup of 3131% on the selling price. If…

A: The objective of the question is to find the selling price, the cost, and the cost as a percent of…

Q: Prepare journal entries for the following transactions from Forest Furniture. Oct. 3 Sold 2 couches…

A: Date Particulars Debit ($) Credit ($) Oct 3 Accounts Receivable: Draw Plus ($4900-$171.5) 4,728.5…

Q: If a Blackbirds shirt costs $24 and can be sold for $60, what is the contribution to sales ratio?

A: Contribution means the difference between the selling price and variable cost . Fixed cost remain…

Q: nkt.3 A company sells Yoohoo for $6 a can with unit sales of 10,000. If cost of goods is $40,000,…

A: The objective of the question is to calculate the total sales of the company.

Q: Bugs Bunny Clothing Company operates a children's and women's department. The latest monthly income…

A: Relevant CostIn Management accounting the term of Relevant cost is really matter. Relevant cost is…

Q: Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and…

A: Compute the sales and variable cost for Weedban and Greengrow:

Q: Prepare journal entries for the following transactions from Forest Furniture. Oct. 3 Sold 2…

A: Journal Entries records business transactions in chronological manner and it is the first step in…

Q: ports Alive sold 72 pairs of ski poles: superlight for $30 per pair and ordinary poles for $16 per…

A: Total sales means total revenue generated from categories of units sold. Given in the question…

Q: Classique Designs sells a variety of merchandise, including school shoes for girls. The business…

A: FIFO: FIFO stands for First in First out which means the first received inventory to be sold first.

Q: rank's Factories has a staff of sales people like Anthony, who receives a monthly sa 23,300.00, what…

A: The gross pay for Anthony can be computed as follows: Gross pay = Basic pay + Incremental comision…

Q: M.Brown used to operate a merchandising business in St. James, Jamaica. Some years ago, he decided…

A: Comment- Multiple Questions Asked. Income Statement- Income Statement refers to the financial…

Q: Hawthorne Wipes sells sanitizing wipes. They started 2020 with 6.000 packs of wipes, the cost of…

A: Weighted Average Cost per Unit = Purchases + Cost Beginning StockBeginning Units + Total Units…

Q: Sunland Company has received a shipment of wet suits that cost $250 each. If the company uses…

A: To find the selling price per wet suit using cost-plus pricing with a 60% markup on the cost, follow…

Q: Vati-Vati CC produces and sells only one product. The following data is available: Net sales N$800…

A: Lets understand the basics. Cost of sales is a all cost required to manufacture product or providing…

Q: QUESTION 2 (CHAPTER 3) A. Umar and Osman manufacture and sell energy drinks. The drinks are sold for…

A: Utilities, Salesman salary and delivery cost includes both variable and fixed cost cause the per…

Q: The company has these parties of goods on hand: 10x1.000 TL; 20x900 TL; 10x800 TL; 10x700 TL. If 35…

A: LIFO method of inventory, adopt the product purchased lastly are sold first.

Question

Whirly has the following information for 2015. They sell Flying Carpets.
Sales
Contribution Margin
Net Income
1. Complete a table for Whirly.
Total
$400,000
$150,000
$15,000
CVP and BEP
Quantity
10,000 Flying Carpets
Per Unit
Ratio To
Sales

2. What is the variable cost per unit?
3. What is the sales price per unit?
4. Determine CM per unit and CM Ratio.
5. Determine the Break-Even-Point in Quantity and Sales Dollars.
Total
Quantity
Per Unit
Ratio To
Sales
☐☐☐☐☐

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction

VIEW

Step 2 Solution

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Financial Reporting in Hyperinflationary Economies

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

H1. Please answer ASAP. Thank you.
Please solve part (i) to part (iii)
Please help me with show all calculation thanku
Prepare income statement using the absorption approach for both scenarios. #1 windy wind chimes has produced and sold 100,000 units. #2 windy wind chimes has produced 100,000 units but sold 120,000 units.
Please help me. Thankyou.
Subject:- accounting
A company makes pens. They sell each pen for $77.Their revenue is represented by R = 7 x.The cost to make the pens is $33 each with a one time start up cost of $45004500.Their cost is represented by C = 3 x + 4500.a) Find the profit, P, (P = R - C) when the company sells 1000 pens. 7000 -7000 11500 -500 -1500 b) Find the number of pens they need to sell to break even (when R = C). 1125 643 4500 150
Use the ABC information to compute the operating income of each customer in August 2017. Comment on the results and what, if anything, Flair should do.
Information for number 6 and 7 An offer from the supplier to pay the materials ahead of time is Terms= 3/15, net 30. The materials cost to be purchased amounts $ 50,000. 6. Compute for the cost of the discount 7. If you are the business owner, will you take the discount or pay after the discount?
What is the cost of the perfume set that is sold for $165.00 with a margin of 215% based on cost.
Background Consider the following information for the company Freddie's Furniture Supplies, who manufacture outdoor furniture: Income Statement Freddie's Furniture Supplies Year Ended 31st December 2020 Net Sales Revenue $290,350 less: COGS $132,560 = Gross Profit $157,790 less: Operating (Non Product) Expenses $85,900 equals: Net Profit $71,890 Beginning and Ending Finished Goods, of the year, were $32,000 and $14,600 respectively. Question What was the COGM (Costs of Goods Manufactured) for Freddie's company for the year ended 31st December 2020? Select one: a. Cannot be calculated with the information provided. O b. COGM = $147,160 O c. COGM = $115,160 O d. COGM = $129,760
Alphanso Hendricks used to operate a merchandising business in St. Mary, Jamaica.Some years ago, he decided to start manufacturing the goods that he sold in order to achieve cost efficiency. On June 30, 2016 you extracted the following Trial Balance from the books of Alfonso Hendricks.Details/Accounts Dr $ Cr $Accounts payable 10,000,000Finished goods Inventory, July 1, 2015 20,000,000Rent and insurance 1,680,000Carriage outwards 2,400,000Motor vehicles 7,500,000Provision for depreciation motor vehicles 1,500,000Production workers salary 16,000,000Furniture, etc. 5,000,000Cash 15,000,000Direct expenses 4,000,000Net sales 124,000,000Capital 57,280,000Indirect factory expenses 4,000,000Work in progress, July 1, 2015 8,000,000Electricity 6,000,000Purchases of direct raw materials 40,000,000Administrative expenses 12,000,000Drawings 3,000,000Provision for unrealized profit 2,000,000Direct raw materials, July 1, 2015 10,000,000Accounts receivable 14,000,000Carriage inwards for direct raw…