4. NIU Company has the following information available for September 2010. Unit selling price of video game consoles Unit variable costs S 400 S 270 Total fixed costs $52,000 Units sold 620 Instructions (a) Prepare a CVP income statement that shows both total and per unit amounts. (b) Compute NIU's breakeven point in units. (c) Prepare a CVP income statement for the breakeven point that shows both total and per unit amounts.5. Pink Martini Corporation is projecting a cash balance of $31,000 in its December 31, 2009,

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%

Please answer asap

4. NIU Company has the following information available for September 2010.
Unit selling price of video game consoles
Unit variable costs
$ 400
$ 270
S52,000
Total fixed costs
Units sold
620
Instructions
(a) Prepare a CVP income statement that shows both total and per unit amounts.
(b) Compute NIU's breakeven point in units.
(c) Prepare a CVP income statement for the breakeven point that shows both total and per unit
amounts.5. Pink Martini Corporation is projecting a cash balance of $31,000 in its December 31, 2009,
balance sheet. Pink Martini's schedule of expected collections from customers for the first quarter of
2010 shows total collections of $180,000. The schedule of expected payments for direct materials for
the first quarter of 2010 shows total payments of $41,000. Other information gathered for the first
quarter of 2010 is: sale of equipment $3,500; direct labor $70,000, manufacturing overhead $35,000,
selling and administrative expenses $45,000; and purchase of securities $12,000. Pink Martini wants to
maintain a balance of at least $25,000 cash at the end of each quarter.
Instructions
Prepare a cash budget for the first quarter.
Transcribed Image Text:4. NIU Company has the following information available for September 2010. Unit selling price of video game consoles Unit variable costs $ 400 $ 270 S52,000 Total fixed costs Units sold 620 Instructions (a) Prepare a CVP income statement that shows both total and per unit amounts. (b) Compute NIU's breakeven point in units. (c) Prepare a CVP income statement for the breakeven point that shows both total and per unit amounts.5. Pink Martini Corporation is projecting a cash balance of $31,000 in its December 31, 2009, balance sheet. Pink Martini's schedule of expected collections from customers for the first quarter of 2010 shows total collections of $180,000. The schedule of expected payments for direct materials for the first quarter of 2010 shows total payments of $41,000. Other information gathered for the first quarter of 2010 is: sale of equipment $3,500; direct labor $70,000, manufacturing overhead $35,000, selling and administrative expenses $45,000; and purchase of securities $12,000. Pink Martini wants to maintain a balance of at least $25,000 cash at the end of each quarter. Instructions Prepare a cash budget for the first quarter.
Expert Solution
steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Diagnostic Coding: Icd 10 cm
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.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education