1. How many units of Product Very Good would have to be sold in October 2021 in order to generate an net income after tax of P22,500?
Q: 2020 2021 Cost of Goods sold 55,000 58.000 Cost of Goods sold 450,000 440,000 Net Sales 550,000…
A: On the gross profit, there is no charge of tax on it. It is calculated on the net profit earned by…
Q: What is the 'UNLEVERED PROFIT AFTER TAX' in the year 2019? Rs. 0.41 million Rs. 0.51 million Rs.…
A: Given, For 2019 Profit before interest and taxes = Rs 0.76 Mn Corporate tax = Rs 0.25 Mn
Q: Oakdale Fashions, Inc. had $245.000 in 2018 taxable income. Using the tax schedule in Table 2.3 to…
A: Income slab Tax amount Tax till $100,000 $22,250 $100,001 - $245,000 $145,000 x 39% = $56,550…
Q: what is the possible tax implication?
A: Corporate tax rate = 25% Allowable deductions = P150,000 for November Allowable deductions =…
Q: Use the following information for Taco Swell, Incorporated, (assume the tax rate is 23 percent):…
A: The "cash flow from creditors" means the financial exchanges that take place between a business and…
Q: Suppose your annual income is $29182 and there are two tax brackets: 10% for $0-$20,000 and 30% for…
A: Tax amount is the amount of tax obligation that an entity has to pay on its income to the government…
Q: If the current year tax rate is 20% and a company estimates next year's tax rate will be 25%, income…
A: For each financial year, the businesses need to pay income taxes, for which they need to make…
Q: 29. A VAT-taxpayer made the following sales during the year: P 100,000 Domestic Sales Export Sales…
A: 29. Amount subject to business tax is P220000
Q: A VAT-taxpayer made the following sales during the year: Domestic Sales P100,000 Export Sales…
A: From manufacture through the point of sale, value-added tax (VAT) is collected on a product at every…
Q: Compute the effective income tax rate for 2020. (Round answer to 2 decimal places, eg 25.51%.)…
A: Effective Tax Rate = Tax liability / Financial Income Tax Liability = Taxabe Income * Tax rate
Q: A customer purchases $28.14 in products only $12.83 is taxable. How much sales tax is owed if the…
A: Sales tax is a tax levied on the sale and purchase of goods and services. It is typically a…
Q: What is the amount of Taxes Owed for the period if the tax rate is 30%, if Earnings Before Taxes (…
A: Taxes are the amount due to the government on the income earned by an individual or a company. The…
Q: The following data from the adjusted trial balance of Safa Shopping Center Trial balance for the…
A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: NUBD reported the following results from sales of 5,000 units of Product Excellence for the month of…
A: Cost-volume-profit (CVP) analysis is an important and systematic method that provides useful…
Q: * 00 Oakdale Fashions, Inc. had $245,000 in 2018 taxable income. Using the tax schedule in Table 23…
A: Tax till $100,000 $22,250 $100,001 - $245,000 $145,000 x 39% = $56,550 Income Taxes $78,800
Q: Brush Company has the following income before income tax and estimated effective annual income tax…
A: Income Statement:- It is a statement where expenses and revenue incurred during the period recorded.…
Q: Chicken Wings Company prepared the following income statement for the year ended December 31, 2020:…
A: GIVEN Chicken wings Company prepared the following income statement for the year ended December…
Q: How much is the income tax expense/(benefit) for the third quarter? (NOTE: If your answer is an…
A: Formula: Income tax expense amount = Net income x Tax rate
Q: Tokwa't Baboy Company prepared the following reconciliation of income per books with income per tax…
A: Note: income tax provision is created on taxable income. Total provision for income tax =…
Q: Net Income 20,904 14,547
A: 2020Sales 425000Cost of goods sold 328446.2Gross Profit96553.82Depreciation29800Selling & Admin…
Q: WhyRU Company usually depreciates its equipment using straight line method for accounting purposes,…
A: Depreciation Using SLM method of Accounting = Cost Of asset- Residual Salvage Value/ useful life of…
Q: 6,
A: The portion of earnings left with the business after paying off all the expenses and other cost is…
Q: Dakdale Fashions, Inc. had $245,000 in 2018 taxable income. Using the tax schedule in Table 23 to…
A: Calculation of taxes as per Corporation Tax table 2018 Upto $ 100000= $ 22250…
Q: What is the amount subject to business tax? 2 points Jackpruit, a seller of goods, had the following…
A: Bussiness taxable income is simply the net income earned during the taxable period i.e. taxable…
Q: ate: a. the marginal tax rate b. the average tax rate c. the effective tax rate.…
A: Gross income is nothing but, all income for the year, including wages, tips, earnings from…
Q: net operating profit after taxes
A: Operating Profit: Operating profit is the amount of revenue realized from the operations of the…
Q: soru At the end of 2019, The Business with 20% Corporate tax rate has Expenses: TL3.150.000 and…
A: The question is based on the concept of Financial Accounting.
Q: If the sales tax is 6% and the purchase price is $193, what is the amount of tax?
A: Sales tax is the tax paid on goods and services, to the taxation authorities. It is an indirect tax…
Q: 1. Show that a 20% retail sales tax is regressive by putting numbers in the following table. Income…
A: Regressive Tax: In regressive taxation a fixed rate of Tax is charged. It does not consider the…
Q: s of P150,000 November 2021. It: porate Tax Rate is 25%. If the co ecember 2021, what is the poss
A: Given In november, Gross sale =P1400000 Cost of sales=P560000 Its profit is: 1400000-560000 =840000…
Q: 14. Leslie Inc. has correctly determined the following information related to operations for 2018:…
A: Statement of profit or loss records revenue earned during the year and expenditure incurred by the…
Q: On December 31, 2021, ECHO Company appropriately changed its inventory valuation method to the FIFO…
A: Solution Introduction When there is change in the accounting method the effect of the change shall…
Q: Question 1, Financial statement production and review. Sales Less: Cost of sales Gross Profit Less:…
A: Income Statement: It is a part of financial statement of a company in which revenue and expenses are…
Q: How many units of Product Excellence would have to be sold in October 2021 in order to generate an…
A: solution first let us calculate the existing details Sales units 5000 Total sales 200000…
Q: Bohol, Inc., is subject to a 40% income tax rate. The following data pertain to the period just…
A: After Tax Profit = Sales - Variable Cost - Fixed Cost - Income Tax
Q: WhyRU Company usually depreciates its equipment using straight line method for accounting purposes,…
A: Here in this question, we are required to calculate cumulative deferred tax liability in 2020 and…
1. How many units of Product Very Good would have to be sold in October 2021 in order to generate an net income after tax of P22,500?
Step by step
Solved in 2 steps
- Olivian Company wants to earn 420,000 in net (after-tax) income next year. Its product is priced at 275 per unit. Product costs include: Variable selling expense is 14 per unit; fixed selling and administrative expense totals 290,000. Olivian has a tax rate of 40 percent. Required: 1. Calculate the before-tax profit needed to achieve an after-tax target of 420,000. 2. Calculate the number of units that will yield operating income calculated in Requirement 1 above. (Round to the nearest unit.) 3. Prepare an income statement for Olivian Company for the coming year based on the number of units computed in Requirement 2. 4. What if Olivian had a 35 percent tax rate? Would the units sold to reach a 420,000 target net income be higher or lower than the units calculated in Requirement 3? Calculate the number of units needed at the new tax rate. (Round dollar amounts to the nearest dollar and unit amounts to the nearest unit.)A U Ltd manufactures and sells a single product, the company's sales and expenses for themonth of January 2021 were as follows:Total (Kshs)Value per unit (Kshs)Sales1.200.0080.00Less: Variable expenses840.0056.00Contribution360.0024.00Less: Fixed expenses300.00Net income60.00Required:What is the monthly breakeven point in units and in shillings?What is the total contribution margin at breakeven point?How many units would be sold each month to carn a minimum target net income ofkshs. 36.000?(iv)Using the original data, compute a company's margin of safety in both shilling and in percentage termsWhat is the contribution margin ratio, if the monthly sales increase by Kshs 16,000?ABM Enterprise reported business transactions for a certain month in 2020: Unit Price, P55.75; Variable Cost Per Unit, P25.50, and Total Fixed Cost, P45,375.00. a. Compute for the number of units to be sold in order to break-even. b. How is the amount of sales to break-even?
- In April of 2021, Best Speaker Company expects to sell 470 bluetooth speaker units. Expenses are as follows: Cost of goods sold is P178 per unit Shipping costs are P31 per unit Miscellaneous costs are P10 per unit Salaries are P80,000 per month Rent is P20,000 per month Utilities are P10,000 per month Calculate the following for April 2021: A. Variable Operating Expense B. Fixed Operating Expense C. Total Operating ExpenseIn 2018, Downy Co presented total variable cost at $687.50; total fixed cost at $6,750,000; sales price per unit $1,250; sold 20,000 units; tax rate at 30%. What is the required sales amount to equal 20A net income after tax if the company is the entity is to spend $562,500 for the next month?Zed Inc., has the following details for the year ending 31st March, 2019 : Sales =24,000 units @ 200 per unit; P/V Ratio 25% and Break-even Point 50% of sales. Calculate: Fixed cost for the year Profit earned for the year Units to be sold to earn a target net profit of 11,00,000 for a year
- Hudson Co. reports the contribution margin income statement for 2019. HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (10,400 units at $280 each) Variable costs (10,400 units at $210 each) Contribution margin $2,912,000 2,184,000 728,000 567,000 $ 161,000 Fixed costs Pretax income If the company raises its selling price to $300 per unit. 1. Compute Hudson Co.'s contribution margin per unit. 2. Compute Hudson Co.'s contribution margin ratio. 3. Compute Hudson Co.'s break-even point in units. 4. Compute Hudson Co's break-even point in sales dollars. 1. Contribution margin per unit 2. Contribution margin ratio 3. Break-even point units 4. Break-even sales dollarsAAA Company reported the results from sales of 5,000 units of Product Y for April 2022:How much is the breakeven sales?Hudson Co. reports the contribution margin income statement for 2019. HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (10,400 units at $280 each) Variable costs (10,400 units at $210 each) Contribution margin $2,912,000 2,184,000 728,000 567,000 $ 161,000 Fixed costS Pretax income 1. Assume Hudson Co. has a target pretax income of $170,000 for 2020. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target pretax income for 2020, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.)
- QuestionHow many units of Product Excellence would have to be sold in October 2021 in order to generate an net income after tax of P22,500?Remar, Inc. reported the following results from sales of 5,000 units of Product C for the month of June 2019 (refer to the attached picture): Assume that Remar, Inc. increases the selling price of Product C by 10% on July 1, 2019. How many units of Product C would have to be sold in July 2019 in order to generate an operating income of P20,000? sales 200,000 variable cost 120,000 fixed cost 60,000 operating income 20,000Crane reported the following results from the sale of 5000 units in May: sales $300000, variable costs $165000, fixed costs $65000, and net income $70000. Assume that Crane increases its selling price by 5% on June 1. How many units will have to be sold in June to maintain the same level of net income? O 4500. 4725. 4750. O 5000.
