#34 and 35PLEASE ANSWER NUMBERS 34 AND 35 ONLY!Please show your complete solution and answer. Thank you! 31. A retail company determines its selling price by marking up variable costs by 60%. Inaddition, the company uses frequent selling price markdown to stimulate sales. if themarkdowns average 10% , what is the company contribution margin ratio?a. 27.5%b. 30.6%с.37.5%d.41.7%(cia)The next two questions are based on the following:Tropical Stuff Toys manufactures and sells dolls. The following information relates tothe operating results for the last quarter:PROFIT PLANNING AND COȘT-VOLUME-PROFIT ANALYSISCHAPTER 5218Stuff toys soldBreakeven point in number of toysBreakeven point in peso salesTotal fixed costs19,37515,500P65,875P 47,2752d What was Tropical's variable cost per doll?P 4.25P 3.05С.d.P 1.20P 0.96a.b.(грсра)9 What was the margin of safety percentage for the last quarter of Tropical? (roundedto the nearest percent)20%25%a.C.28%b.d.72%(грсра)34. For a profitable company, the amount by which sales can decline before losses occuris known as theVariable sales ratio.Sales volume varianced.а.С.b. Margin of safety.Marginal income rate.(грсра)35. 'Singsing, Inc. manufactures and sells key rings embossed with college names andslogans. Last year the key rings sold for P75 each, and the variable costs to manufacturethem were P22.50 per unit. The company needed to sell 20,000 key rings to break-even.The net income last year was P50,400. The company expects the following for thecoming year:The selling price of the key rings will be P90Variable manufacturing costs per unit will increase by one-third.Fixed cost will increase by 10%.The income tax rate will remain unchanged.For the company to break-even the coming year, the company should sella. 21,600b. 2,600С.21,250d.19,250(грсра)

To identify solution first we should understand the sales which produces profit for the company.…

34. For a profitable company, the amount by which sales can decline before losses occur is known as the a. Variable sales ratio. b. Margin of safety. с. Sales volume variance d. Marginal income rate. (грсра) 35. 'Singsing, Inc. manufactures and sells key rings embossed with college names and slogans. Last year the key rings sold for P75 each, and the variable costs to manufacture them were P22.50 per unit. The company needed to sell 20,000 key rings to break-even. The net income last year was P50,400. The company expects the following for the coming year: The selling price of the key rings will be P90 Variable manufacturing costs per unit will increase by one-third. Fixed cost will increase by 10%. The income tax rate will remain unchanged. For the company to break-even the coming year, the company should sell a. 21,600 b. 2,600 21,250 d. 19,250 C. (грсра)

34. For a profitable company, the amount by which sales can decline before losses occur is known as the a. Variable sales ratio. b. Margin of safety. с. Sales volume variance d. Marginal income rate. (грсра) 35. 'Singsing, Inc. manufactures and sells key rings embossed with college names and slogans. Last year the key rings sold for P75 each, and the variable costs to manufacture them were P22.50 per unit. The company needed to sell 20,000 key rings to break-even. The net income last year was P50,400. The company expects the following for the coming year: The selling price of the key rings will be P90 Variable manufacturing costs per unit will increase by one-third. Fixed cost will increase by 10%. The income tax rate will remain unchanged. For the company to break-even the coming year, the company should sell a. 21,600 b. 2,600 21,250 d. 19,250 C. (грсра)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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