XYZ manufactures a computer stand. It has fixed costs of $600,000 and each stand sells for $90, with a variable cost of S 48 per unit. Determine the sales value that XYZ manufactures will have to reach if it is to make $20,000 profit per period. a. 12,917 b. 14762

XYZ manufactures a computer stand. It has fixed costs of $600,000 and each stand sells for $90, with a variable cost of S 48 per unit. Determine the sales value that XYZ manufactures will have to reach if it is to make $20,000 profit per period. a. 12,917 b. 14762

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: When a destroyed business asset is replaced, which of the following is true?

A: When the asset of business is destroyed then the destroyed assets's car...

Q: The following is the accounts found in the trial balance of Bei, Inc., an SME: Lease liabilities - c...

A: Gross profit = sales - cost of sales

Q: During 2019, Bradley Corporation issued for $110 per share, 5,000 shares of $100 par value convertib...

A: There are two type of stock or shares that is being issued by the company. One is preference shares ...

Q: The following is the accounts found in the trial balance of Lei, Inc., an SME: 2020 2019 Lease li...

A: The correct answer for the above mentioned question is given in the following steps.

Q: Required: 1. Compute the predetermined overhead rate. 2. Compute the hourly billing rate for Debbie ...

A: Predetermined Overhead Rate (Based on Salary Costs) = Total Overhead / Total Salary Hourly Billing R...

Q: C. Give an example and explain securities fraud in violation of the Securities Act of ‘33. D. Ex...

A: Securities fraud, also called stock or investment fraud, is a serious form of crime that can be comm...

Q: strategyusedinmanagementaccountingforachievebusinessgoals

A: Management accounting basically considered as an concept that helps an business organization to prep...

Q: Problem 2 Erika Company operates lovalty program. The entity grants loyalty points for goods purchas...

A: Solution Revenue is the total amount of income generated by the sale of goods or services related to...

Q: True or False. 2. A corporation can be formed by another corporat...

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: 12/31/2018 12/31/2019 Accounts payable $2,300 $6,400 Accounts receivable 3,500 8,400 Cash 4,600 21,0...

A: Ratio analysis helps to analyze the financial statements of the company. The management can take dec...

Q: A company buys ten shares of securities at P2.000 each on December 31, 2031. The securities are clas...

A: When a company helds securities as investment , there may be...

Q: Dos Enterprises has historically reported bad debt expense of 5% of sales in each quarter. The entit...

A: Bad debt expense for the fourth quarter = Bad debt expense for the entire year - Bad debt expense re...

Q: Assuming your fixed cost per year are $10,000 are you making enough profit to pay that amount ?

A: Working:

Q: 1. Pension worksheets for the Simpson Company for years ended December 31, 2020 and 2021. 2. Journa...

A: Defined Pension Obligation In the defined Pension obligation which determine the details of pension ...

Q: 3.6 The partnership of Mac and Donald, being a commercial partnership, is subject to income tax of 3...

A: Partnership firm: Partnership firm is a form of entity where minimum of two individuals agreed to sh...

Q: All items of gross income, legitimate or not, are taxable unless exempted by law or treaty. Statemen...

A: c. Only statement 1 is true

Q: The following is a table of liquidity ratio calculated for an ice-cream company for two years. Analy...

A: In case of a question with more than 3 sub-parts, the first three subparts are solved rest can be po...

Q: Richelle Company adapted the following changes during 2022: • Appropriately changed to the FIFO cost...

A: The given changes are required to adjust retained earnings opening balance. These changes in estimat...

Q: Additional information: • Inventory as at 31 December 2021 amounted to RM79,030. • Dumbo Trading is ...

A: The statement of comprehensive income contains those revenue and expense items that have not yet bee...

Q: Explain the different purposes that a budget can have

A: Introduction:- Budgeting used to estimation of income and expenditure over a specified period of tim...

Q: A process costing system in your company. Direct material A is placed into production at the beginni...

Q: Which of the following accounting records is the main source of information used to prepare thefinan...

A: Financial statements seem to be a set of high-level reports that summarize a company's monetary perf...

Q: Assume a company's sales budget for July estimates 15,000 units sold. The variable selling and admin...

A: Total budgeted selling and administrative expense for July = Total budgeted fixed selling and admini...

Q: The master budget will be different from business to business.This is due to all of the following,ex...

A: Solution Master budget is a comprehensive financial planning document . It is usually includes all o...

Q: h to go over the figures for a new $90 million outlet mall designed to intercept tourists heading do...

A: The projections are given. To find the project NPV and the analysis.

Q: 12. Manny's adjusted gross income on his federal tax return was $45,231. He claimed a standard deduc...

A: In the given question, Manny's gross income on his federal tax return = $45,231 Standard Deduction c...

Q: Standard Company purchased a machine on January 1, 2009 for P500,000. At the time, it was determined...

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets ...

Q: Explain the limitation of ratio in a business

A: Accounting ratios are an essential component of financial statement analysis. A ratio is a mathemati...

Q: Measures of liquidity, Salvency, and Profitability The comparative financial statements of Marshal I...

A: Ratio analysis helps to analyze the financial statements of the company. The management can take dec...

Q: omework Exercises A Soved Help Check my work mode : This shows what is correct or incorrect for the ...

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: 7...... Sage Industries and Pronghorn Inc. enter into an agreement that requires Pronghorn Inc. to ...

A: Lease is a legal contract binding both the parties by the law. Under lease the owner of the asset re...

Q: On December 31, 20X9, Peak Corporation acquired 80% of Summit Company's common stock for $160,000. T...

A: The question is related to Consolidation. The details are given as under Parent Company holding = 8...

Q: REQUIRED: choose the letter What is the interest expense for 2020? a. 200,000 b. 115,200 c. 106,7...

A: As the lease was capitalized in the books, hence an interest expense and depreciation expense will b...

Q: Risk Insurance Inc. has a board of eight directors. Risk’s bylaws do not state any quorum requiremen...

A: Solution For the board of directors, a quorum ia the Majority of members of the board. When Quorum i...

Q: Which of the following is an example for "Neglect" strategy under EVLN Model of Job Satisfaction? Se...

A: Ans. d - Paying less attention to quality, and increasing absenteeism and lateness.

Q: REQUIRED: Show how the net profit will be divided. 3.9 Bah, Lee and Wag have capital balances of P 1...

A: Total Capital = P 15,000+P 10,000+P 20,000= P 45,000 10% interest on Capital balance required= P 4,5...

Q: Required: a) Compute Exclusive Souvenirs predetermined manufacturing overhead rate for 2020. b) Stat...

A: Overhead rate is mentioned in the given question: Total estimated factory overhead - $2,400,000 Tot...

Q: Problem 8-1A (Algo) Part 4 4. Compared to straight-line depreciation, does accelerated depreciation ...

A: Accelerated depreciation is any method of depreciation used for income tax purposes that allow for s...

Q: Why put the normal loss costing into the true loss account for abnormal loss?

A: Cost accounting: Cost accounting is a form of managerial accounting that aims to capture a company's...

Q: Filimonov Inc. has the following information related to purchases and sales of one of its inventory ...

A: LIFO means last in first out where as FIFO means first in first out. Inventory and cost of goods sol...

Q: Helsinki Inc. produces premium bottled water. Helsinki purchases artesian water, stores the water in...

A: Process Costing: Process Costing is one of the technique of costing where a product is manufactured ...

Q: Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Ye...

A: Preparation of comparative income statement with other requirement are as follows.

Q: FINANCIAL POSITION AS AT 31ST DECEMBER 2020 RM('000) RM('000) Non- Curent Assets Property, plant and...

A: An accounting ratio is a comparison of two or more financial data that is used to analyze a company'...

Q: A company purchased a building twenty years ago for $150,000. The building currently has anappraised...

A: Accounting principles seem to be the broad norms and standards that businesses must adhere to while ...

Q: Narcisco Publications established the following standard price and costs for a hardcover picture boo...

A: A flexible budget variation is any difference between the outcomes provided by a flexible budget opt...

Q: onstant percent 8 years. 8.25%; BV 30 0.10; BV = 293 3.25%; BV = 29 0 109% RV

A: The constant percentage method is also called as declining balance method which evaluates the deprec...

Q: Which of the following is not a part of budgeting?A. planningB. finding bottlenecksC. providing perf...

A: Budgeting is an important process in management accounting. Budgets means estimates or forecasts mad...

Q: A Co. and B Co. are joint venturers of C.Co, a producer of high tech machinery. A and B, each have 5...

A: Joint ventures is a form of agreement or arrangement between two or more than two persons, in which ...

Q: A musical group plans to sell T-shirts bearing their logo at an upcoming concert. They find a suppli...

A: Formula: Logo charges = ( Number of T shirts ordered x Per T shirt charge ) + Set up charge

Q: Complete the balance sheet for General Aviation, Inc. based on the following financial data. Stateme...

Question

XYZ manufactures a computer stand. It has fixed costs of $600,000 and each stand sells for $90, with a variable cost of S$ 48 per
unit.
Determine the sales value that XYZ manufactures will have to reach if it is to make $20,000 profit per period.
a.
12,917
b.
14762
C.
11,920
d.
728,000

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

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

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

XYZ manufactures a computer stand. It has fixed costs of $600,000 and each stand sells for $90, with a variable cost of $ 48 per unit. If manufactures sells 13,000 stands, what would be the profit? a. 54000 Loss b. С. 240000 proſil d. 240.000 profit
XYZ company sells phones for P22, 500 per unit. The variable cost is P10, 000 per unit. The fixed costs are P37, 500, 000. The company wants to have a profit of P12, 500, 000. How many units do they have to sell to achieve this goal? a.3,000 b.4,000 c.5,000 d.6,000
company X produce and sell 80000 calculators yearly. the capacity for company to produce 100000 calculators . the next data available the variable cost per calculator: manufacturing cost 22 selling and administrative 10 the fixed cost: manufacturing cost 256000 selling and administrative 112000 if the company accepted to special order to sell 10000 calculator at selling price 50 per calculator. whats the effect of the company income?
Samsung manufacturers USB charging cables for mobile devices. It sells these cables to distributors for $2.6000000000 each, while their variable costs are 72e per cable, and they have a fixed cost of $43000 to manufacture the cables. 1. What is the Contribution margin (in dollars)? 2. What is the profit function (without units using x as the number of cables sold)? 3. What is their projected profit or loss next month (in dollars), for which Samsung forecasts sales of 23241 cables? 4. What is the break even volume (without units)? For parts 1, 2, and 3, answer to the nearest cent. For part 4, answer to one decimal place (don't round up to the nearest whole unit). Answer: 1. Contribution margin = 2. Profit function: Profit= 3. Profit or loss = 4. Break even volume =
7)Carmen Co. can further process Product J to produce Product D. Product J is currently selling for $20 per pound and costs $15.75 per pound to produce. Product D would sell for $38 per pound and would require an additional cost of $8.55 per pound to produce. What is the differential revenue of producing Product D? a. $18.00 per pound b. $6.25 per pound c. $22.25 per pound d. $6.75 per pound 8)Falcon Co. produces a single product. Its normal selling price is $30 per unit. The variable costs are $19 per unit. Fixed costs are $25,000 for a normal production run of 5,000 units per month. Falcon received a request for a special order that would not interfere with normal sales. The order was for 1,500 units with a special price of $20 per unit. Falcon has the capacity to handle the special order, and for this order, a variable selling cost of $1 per unit would be eliminated. Should the special order be accepted? a. yes b. There would be no difference in accepting or rejecting the…
117. es Woodland Wearables produces two models of a smart watch, the Basic and the Flash. The watches have the following characteristics: Selling price per watch Variable cost per watch Expected sales (watches) per year The total fixed costs per year for the company are $1,545,600. Basic Required A Required B $360 $ 280 48,000 Required: a. What is the anticipated level of profits for the expected sales volumes? b. Assuming that the product mix is the same at the break-even point, compute the break-even point in units. c. If the product sales mix were to change to nine Basic watches for each Flash watch, what would be the new break-even volume for Woodland Wearables? Required C Flash Complete this question by entering your answers in the tabs below. $ 505 $265 16,000 What is the anticipated level of profits for the expected sales volumes? Anticipated profit
A company manufactures and sells a single product whose selling price is P500 and whose variable expense is P300 per unit. The company’s monthly fixed expense is P120,000. Required:1. Solve for the unit sales that are required to earn a target profit of P80,000. 2. If the company wants to earn a profit of P200,000, how much should be the sales revenue?
Sunland Company manufactures and sells solar chargers for $50 each. Variable costs are $40 per unit, and fixed costs total $120000. What amount of sales revenue is needed by Sunland to break even? $600000. $192000 O $428571 O $960000.
Clockmaker Ltd. makes a product called wallet. Managers from Clockmaker Ltd. want to achieve a profit of £82, 800. The wallet price equals £82 per unit. Each unit of wallet has a cost of £36 and annual total fixed costs equal £147, 200. Considering this information, which of the following statements is true? O a. To achieve the desired profit, Clockmaker Ltd. needs to sell 5, 000 units of wallet. O b. Clockmaker Ltd. would need to sell more than 3, 200 units of wallet to have positive profits. O c. Contribution per unit equals £46. O d. All the answers are true.
KLM Company produces a single product. The selling price is OMR 40 a unit and the variable costs is OMR 25 a unit. The annual fixed costs of the business are OMR 4000. The business aims to make OMR 16625 profit during the forthcoming year. How much sales (OMR) required to achieve this target profit? Select one: a. OMR 60000 b. OMR 44000 c. OMR 48700 d. OMR 55000
NUBD has fixed cost of P200,000. It has two products that it can sell, X and Y. NUBD sells these products at the rate of three units of X to one unit of Y. The contribution margin is P6 per unit of X and P3 per unit of Y. How many units Y would be sold at break-even point? A. 40,000 B. 50,000 C. 10,000 D. 100,000
Carmen Co. can further process Product J to produce Product D. Product J is currently selling for $20.70 per pound and costs $16.80 per pound to produce. Product D would sell for $43.20 per pound and would require an additional cost of $10.40 per pound to produce. What is the differential cost of producing Product D? Oa. $12.48 per pound Ob. $6.24 per pound Oc. $8.32 per pound Od. $10.40 per pound