3 Water Sports Ltd. pays $360 less 25% for a backyard above-ground pool kit. Overhead expenses are 16-% of the regular selling price, and the operating profit is 15% of the selling price. a. What is the maximum rate of markdown the store can offer and still break even? b. What is the profit or loss per unit if Water Sports clears out its remaining stock at 20% off in its Hot August Bargains Sale?
Q: The home was acquired for $83,000 in 2005. On May 12, 2021, the Arcs installed new fixtures (7-year…
A: INTRODUCTION: The systematic reduction of a fixed asset's recorded cost is known as depreciation.…
Q: 1. Record the actual overhead costs 2. Recird the overhead costs apied to production 3.Record the…
A: Variance are the difference between the standard performance and actual performance of the company.…
Q: Question Three: Journalize the following selected transaction for Paradise Co. during July 2022 12th…
A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…
Q: 2-d. Percentage of total resources invested in property, plant, and equipment. (Round percentage…
A: 5 Essential Financial Ratios for Every Business. 1) liquidity ratios 2) leverage ratios…
Q: The following is data obtained from cheese cake production activities by PT Cheese Higen for January…
A: Production Cost :— It is the total cost incurred in the manufacturing of product during the period.…
Q: Based on the following information, prepare a balance sheet. Current Assets = $15,000; Property,…
A: Balance Sheet :— It is one of the financial statement that shows list of final balances of assets,…
Q: Ralston Consulting, Inc., has a $47,000 overdue debt with Supplier No. 1. The company is low on…
A: The question is based on the concept of Financial Management. Present value is calculated by…
Q: .05 dividend in one year; its equity cost of capital is 11%. What price must y
A: Answer :Equity cost of capital = (D1/Current price )+ 0.11 = (2.05 / 54.38) + Growth rate Growth…
Q: axpayer X and taxpayer Y each qualify for the maximum EITC. Taxpayer X has three qualifying children…
A: EITC this is earned child credit in taxation. EITC depends on the number of childrens you have and…
Q: Calculate the net asset value, Inn, dollars and the number of shares purchase for the mutual fund.…
A: 1. Net Assets value: Net asset value," or "NAV," of an mutual fund company is the company's total…
Q: On November 1, 2022 Spring Company accepted a three-month, 10% note for $10,000 from one of its…
A: From November 1, 2022 to December 31, 2022 = 2 months Interest relates for 2 months to 2022…
Q: The partnership which is being liquidated by installment method has a final cash balance of P100,000…
A: The partnership comes into existence when two or more persons agree to do the business and further…
Q: The records of Seahawks Company reflected the following balances in the stockholders' equity…
A: Introduction: If preferred stocks are cumulative, then all dividends in arrear will be paid to…
Q: Retained Earnings Total Liabilities & Shareholders' Equity Additional Information: 1. Operating…
A: In this question, we need to prepare Investing activities section of statement of cash flows for the…
Q: According to the Report to the Nations, the anti-fraud measure with the greatest impact on median…
A: Auditing is the process of physical investigation and examination of the processes, financial…
Q: Given the following information [daily basis] on a manufacturing company, calculate (a) contribution…
A: Contribution margin per unit = Selling price per unit - Variable cost per unit Total contribution…
Q: Contribution Margin by Segment The following data are for Elm Leaf Apparel: Sales volume (units):…
A: Income Statement :— It is one of the financial statement that shows profitability of company during…
Q: Question. The Gorman Group issued $900,000 of 13% bonds on June 30, 2021, for $967,707. The bonds…
A: The bonds payable are the financial instruments for the business that are issued to raise the money…
Q: Gibson Company sales for the Year 1 were $4 million. The firm’s variable operating cost ratio was…
A: The question is based on the concept of Financial Management. The leverage is the utilization of the…
Q: Which of the following statements is true? A balanced scorecard consists of a report showing a…
A: The time period balanced scorecard (BSC) refers to a strategic control overall performance metric…
Q: Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic…
A: FUTURE VALUE Future value is the value of an asset at a specific date. Future value is…
Q: (iii) (iv) - - Select THREE (3) transactions that Kate Minimart performs and illustrate their effect…
A: Transactions that Kate Minimart performs: (1) Kate invested $20,000 of her own funds in business…
Q: The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed…
A: Answer - Part 1 -
Q: Calculate the sales charge in dollars and sales charge percent for the mutual fund round percents to…
A:
Q: The Millard Division's operating data for the past two years are provided below: Year 1 Year 2…
A: RETURN ON INVESTMENT Return on investment is the ratio between Net Operating Income & Average…
Q: waldo is planning to start company select advantage, disadvantage, or does not apply to explain…
A: The form and type of business corporation depends on the level of resources associated and Risk…
Q: Lola Metals has two decentralized divisions, Stamping and Finishing. Finishing always has purchased…
A: The question has asked to compute the contribution margin, and, the cost incurred by Lola Metal.…
Q: marized data: alyses for each item in Golden Corporation's comparative financial statements. TIP:…
A: The comparative financial statement analysis done by comparing the figure of 1 to the previous year…
Q: are dividends considered Capital Gain? Give Code Section
A: Dividend represents the profit distributed among the shareholders of the company. Its is reported in…
Q: Lenore Company makes clocks. The fixed overhead costs for 2019 total $880,000. The company uses…
A: The variance is said to be the difference between actual and standard production data. The overhead…
Q: month for a monthly fee of $3,600, which PS Music has already received payment for. Any additional…
A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the…
Q: Celso, Lino and Noel are partners with capital balances of P180,000, P100,000 and P120,000…
A: Partnership means where two or more person comes together to run the business and share profit or…
Q: Laura's Cosmetics uses a normal cost system and has the following balances at the end of its first…
A: Introduction: Under applied or over applied factory overhead are adjusted as under: 1. Immediate…
Q: Roll Board Inc. manufactures several models of high-quality skateboards. The company's ABC system…
A: MARGIN Margin is Computed by deducting Total Cost from Total Sales Value. In other word Margin…
Q: The accountant for Scott Industries prepared the following list of account balances from the…
A: INTRODUCTION: Total assets are all of a person's or organization's assets combined. Assets are…
Q: Metlock Inc. is a book distributor that had been operating in its original facility since 1995. The…
A: Note payable are the promissory notes. In accordance with this arrangement, a borrower receives…
Q: 5 Company A acquired all of the outstanding common stock of Company B for $19,000,000 in cash. The…
A: ACQUISITION OF COMPANY Acquisition of Company is Takes Place when Another Company Bought all the…
Q: When using the product cost method of applying the cost-plus approach to product pricing, which of…
A: Product cost is the cost involved in making the product. The mark-up is the margin on the cost to…
Q: Bernie's Ltd. Income Statement For the Year ended December 31, 20X5 Income: Sales 682,000…
A: Statement of Cash Flow - Statement of Cash Flow shows the inflow and outflow of cash during the…
Q: If a company decides to increase its ratio of total debt / total assets from 30% to 50% as a means…
A: Return on assets is the ratio which shows the percentage of return generated by the total assets of…
Q: An employee earned $43,300 working for an employer in the current year. The current rate for Federal…
A: Payroll tax refers to the tax that is subtracted from, assessed against, or imposed on an employer's…
Q: Required: 1. What was the actual operating income for the period? 2. What was the company's master…
A: Introduction:- Standard costs are estimates of the actual costs in a company’s production process…
Q: Selected transactions for Oriole's Dog Care are as follows during the month of March. March 1 3 5 8…
A: Journal entries are the primary reporting of the business transactions in the books of the entity.…
Q: On December 31, 2024, Blue Inc. borrowed $4,320,000 at 13% payable annually to finance the…
A: Golden Rules of Accounting: Account Debit Credit Personal Accounts The Receiver The…
Q: An OTC market is; O a. an on the commission market O b. All options are correct О с. O d. an over…
A: Over the counter market is the process of training share and securities with a broker when this…
Q: Enviro Company issues 8%, 10-year bonds with a par value of $270,000 and semiannual interest…
A: Bond represents the money borrowed by the company in order to fulfil its capital requirements. The…
Q: The management of International Cookwares believes that delivery performance measures must be…
A: Manufacturing cycle efficiency is the measure of processing time to the whole of manufacturing cycle…
Q: q17) Under the current capital requirements in Basel agreement, assets in Category 4, 4 such as…
A: The Basel Framework is the full set of standards of the Basel Committee on Banking Supervision…
Q: Caldwell Supply, a wholesaler, has determined that its operations have three primary activities:…
A: Target cost is the maximum cost which is to be charged from a product in order to earn a desired…
Q: The Gorman Group issued $900,000 of 13% bonds on June 30, 2021, for $967,707. The bonds were dated…
A: INTRODUCTION: A journal entry is a record of a commercial transaction made in an organization's…
A 3.
Step by step
Solved in 4 steps
- ABC Limited sells its product at the rate of 30 per unit. During the quarter ending on 31st March, 2019, it produced and sold 16,000 units andsuffered a loss of 10 per unit. If the volume of sales is raised to 40,000 units; it can earn a profit of 8 per unit. calculate: Break Even Point in Profit if the sale volume is 50,0001. Jeff Music sells its brand of banduria at $167.00 each. The company spends costs of $38.00 to produce each banduria. The corresponding weekly fixed costs are $16,900.00. a. What is the linear equation of the weekly profit, P, to the quantity of banduria produced, X. b. Determine the break-even quantity? c. What is the break-even revenue? d. What will be the profit or loss if there will be 147 qty of banduria?Rolf's Golf store sells golf balls for $27 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of 18% of cost. a. How much does Rolf's Golf store buy the golf balls for? _____per dozen b. What is the price needed to cover all the costs and expenses? c. What is the highest rate of markdown at which the store will still break even? d. What markdown rate would price the golf balls at cost?
- A company sells a toy for $12.80 each. The material, labour, and marketing costs add up to $1.00 per toy. The company also bears fixed costs of $10,100 per month related to this particular product. If the company produces and sells 850 toys each month, what is its monthly net income? Monthly net income = $ there is a loss.) (Enter your answer as negative ifAssume Wyteboard Corp. markers uses 1,440,000 gallons of ink each year. Assume Palmer will order the ink at a rate of P2 per gallon plus a fixed cost of P100 per order. At cost, the firm's carrying cost is 20% of the inventory value. What is Wyteboard's minimum costs of ordering and holding inventory? SHOW THE ANSWER IN A GOOD ACCOUNTING FORMRolf's Golf store sells golf balls for 27 per dozen. The store's overhead expenses are 28% of cost and the owners require a profit of 22% of cost. a. How much does Rolf's Golf store buy the golf balls for? b. What is the price needed to cover all the costs and expenses? c. What is the highest rate of markdown at which the store will still break even?
- The Warren Watch Compony sells watches for $25, fixed Costs are $170,000, and variable costs are $15 per watch! watchili 1 ngay 20 a) What is the firm's gain or loss at sales st. of 10,000 watches & Loss, if any, should be indicated by a minus sign. Round your answer to the nearest cent. $ NOM MAX 250 Seb(2 Bek What is the firm's gain or loss at sales of 18,000 watches? Loss, if any, should be indicated by a minus sign. Round your answer to the nearest cent. ( st b) What is the break-even point Cunit sales)? Round your answer to the nearest whole number. Slow EHMNY 2.3ABC Corporation sells its product for $12 per unit. Next year, fixed expenses are expected to be $400,000 and variable expenses are expected to be $8 per unit. How many units must the company sell to generate a target profit (net operating income) of $80,000?A distributor sells water cooling units for $860 each. The operating profit is 25% on cost and markup is 60% on cost. a. Calculate the cost per cooling unit. Round to the nearest cent b. Calculate the rate of markdown offered during a sale if it made a profit of $51.40 per machine. % Round to two decimal places c. What should be the rate of markdown offered to sell the machines at the cost price? % Round to two decimal places
- Mauro Products sells a woven basket for $14 per unit. Its variable expense is $11 per unit and the company's monthly fixed expense is $9,000. Required: 1 Calculate the company's break-even point in unit sales 2 Calculate the company's break-even point in dollar sales Note: Do not round intermediate calculations. 3. If the company's fixed expenses increase by $600, what would become the new break even point in unit sales? In dollar sales? Note: Do not round intermediate calculations. 1. Break-even point in unit sales 2 Break-even point in dollar sales 3. Break-even point in unit sales 3. Break-even point in dollar sales baskets basketsintegrity inc. sells computor training packages to its business customers at a price of $91 the cost of production (in present value term) is $87, integrity sells its packages om term of net 30 and estimated that about 8% of all orders will be uncollectible an oder in for 25 units the interest rate is 0.6% per month given the above information Present value of revenue is? The expected profit from a sale is? If this is a one time Order and the sale will be made unless credit is expected the firm (should not) extend credit the break even probability of collection is ?% No suppose that if a customer pays the months bill it will place an identical order in each month indefinitely and can be safely assume to pose no risk of default in this case since the present value of the perpetuity of profit is? And the present value of sale is ? The credit should be extended the break even point probability of collection in the repeat- sales isEquate Inc. sells products with a cost of $25,000 during the year to customer for $55,000. It is Equate’s policy to accept returns up to 60 days after the date of purchase. Equate estimates that there is a 60% probability that returns will be 3% of sales and a 40% probability that returns will be 2.5% of sales. What is the transaction price under a) expected value method b) most likely amount method? Choices: A: $53,460 B: $53,350 A: $53,350 B: $53,460 A: $53,460 B: $54,450 A: $54,450 B: $53,460 A: $53,350 B: $53,350