A business has total sales of $100,000, variable costs of $60,000, and fixed costs of $20,000. What is the contribution margin ratio?
Q: Solve this accounting question
A: Step 1: Define Job-Order CostingThe job-order costing system is used to compute the total cost…
Q: Legume Company obtains 100 percent of Brad Company's stock on January 1, 2020. As of that date, Brad…
A: **December 31, 2021** | Date | Account | Debit |…
Q: Make a taccount
A: The Pharoah Company's trial balance at December 31 shows that the company has $8,880 worth of…
Q: A correcting entry is not required if a. a transaction has been journalized using the wrong amounts…
A: If a transaction is correctly journalized but posted incorrectly, a correcting entry is not needed.…
Q: Gil Corporation has current assets of $90,000 and current liabilities of $180,000. Required:…
A: Step 1: Refinancing a $30,000 long-term mortgage with a short-term note.Current Assets$…
Q: General Accounting
A: Step 1: Define Monthly PaymentsMonthly payments are the sum of money that are paid out by borrowers…
Q: tomer Care specialist Bloomerang Customer Sup X M Fwd: Claims Support Speci × Indeed Resume x…
A: 1. Contribution Margin (CM) Ratio The Contribution Margin is calculated as: Contribution Margin =…
Q: None
A: Step 1: Introduction to the Capital GainThe profit made by holding a capital asset (Stock, Land,…
Q: Provide answer the question don't use ai
A: Step 1: Carrying Value Determination ComponentsCarrying value determination components can be…
Q: Need help
A: Step 1: Define Standard CostingStandard costing is a type of cost accounting that uses predetermined…
Q: Please need answer the accounting question
A: Step 1: Introduction to the Sales of a Target ProfitIn business, the cost-volume-profit analysis…
Q: Need help with this accounting question
A: Step 1: Define Contribution MarginThe contribution margin helps companies identify areas that are…
Q: Soal 2 (60) Perry acquired 80% of Salt on 1/1/2020 for $560,000 when Salt's equity consisted of…
A: 1. Goodwill Reported in the Consolidated Balance Sheet at December 31, 2021Fair Value of Salt's Net…
Q: Financial accounting
A: It will be advisable to go ahead with the acquisition if the due diligence study carried out informs…
Q: General Accounting Expert answer
A: Here's an explanation of each option: A) To provide information for internal decision-making:This is…
Q: A partnership begins its first year of operations with the following capital balances: Allegan,…
A: First YearInterest on Equity AlleganBerrienKentCapital balances$110,000$80,000$110,000Multiplied by:…
Q: What is their yield to maturity?
A: Given:- Current bond price (P) = $1,165- Years to maturity (n) = 15- Annual coupon payment (PMT) =…
Q: Intercompany Financing Transactions Sessions Athletic Gear borrowed $600,000 from its parent, PF…
A:
Q: The Up-Towner has sales of $913,400, costs of goods sold of $579,300, inventory of $123,900, and…
A: Given:Cost of Goods Sold: 579,300Average Inventory: 123,900Get the Inventory Turnover…
Q: rmn
A: Step 1: Calculate Joe and Jessie's Gross IncomeThe gross income includes the following:Joe's salary:…
Q: Not use ai please don't
A: Scenario B: Current Tax Rates (20% Capital Gains, 40% Dividends)Selling the Stock:Profit: $50 - $40…
Q: What is a good response to.... Embezzlement is a type of fraud that happens when someone within an…
A: Your post emphasizes important elements of tackling embezzlement in an organization. Your…
Q: The primary purpose of financial accounting is to: a) Prepare tax returns b) Provide information for…
A: Explanation of Tax Accounting:Tax accounting focuses on preparing and filing tax returns, ensuring…
Q: Thompson Handyman Services has total assets for the year of $18,400 and total liabilities of $9,050.…
A: Step 1: Define Accounting EquationThe accounting equation is the cornerstone of double-entry…
Q: If a company has total assets of $600,000 and total liabilities of $200,000, what is the company's…
A: Explanation of Assets: Assets represent all resources owned by a company that have economic value…
Q: Macy's Inc., a well-known department store chain, is preparing its financial statements for the…
A: Part 1: Macy's Inc. Earnings Per Share (EPS) Calculation We can calculate Macy's EPS using the…
Q: Need answer the question
A: Step 1: Introduction to the Variance AnalysisVariance analysis is conducted when a company uses…
Q: Solve this problem
A: Step 1: Define Asset DisposalWhen a company decides that an asset is no longer useful or necessary,…
Q: Amazon.com, Inc. is preparing its financial statements for the fiscal year ending December 31, 2023.…
A: Amazon's Basic Earnings Per Share (EPS) for Fiscal Year 2023 Calculate Amazon's Net Income:Net…
Q: General Accounting
A: Step 1: Define AnnuityAn annuity is a financial agreement with a defined set of terms, such as a…
Q: What is the Debt-to-Equity ratio if a company has total liabilities of $500,000 and total…
A: Step 1: The debt-to-equity ratio is the ratio of total liabilities to total shareholder's equity. It…
Q: What is a good response to... 1. Embezzlement can result from: skimming cash, manipulating refunds,…
A: I find your analysis of the possible methods of embezzlement to be quite enlightening; it really…
Q: General Accounting
A: Step 1: Define Retained earningsRetained earnings refer to corporate's accumulated net income after…
Q: Solve this one
A: Calculating the Effective Annual Rate (EAR) for Each AlternativeAlternative A:EAR = (1 + 0.02 / (1 -…
Q: 1.3 general accounting
A: A. Income StatementINCORRECT• Unlike the Income Statement which is prepared for a specific period (a…
Q: 10.1 Recharge Ltd. purchased a patent on January 1, 2020, for $ 1,120,000. At the time of the…
A: Summary of Journal Entries1. Purchase of Patent (2020):• Dr Patent: $1,120,000• Cr Cash:…
Q: Help please
A: Above answer can be explained as under- Goods purchasedGoods purchasedCost of goods soldCost of…
Q: Solve this problem
A: Step 1: Definition of Variable CostWhile operating a business, the cost that changes continuously as…
Q: General accounting question
A: Question: 1Explanation of Operating Income:Operating income represents the profit a company…
Q: 1.12 Pay cash for manufacturing labor Wage cost incurred = $190 A +dr -cr L -dr +cr Contra-assets…
A: 1. Pay cash for manufacturing labor ($190)Journal entry:Dr. Manufacturing Labor Expense 190 Cr.…
Q: General Accounting
A: Step 1: Define Contribution Margin RatioThe contribution margin ratio shows the contribution margin…
Q: None
A: Explanation of Equipment: Equipment represents a tangible asset used by a business in its operations…
Q: Need help
A: Step 1: Definition of Return on EquityThe return on equity represents the percentage of total equity…
Q: Rachel took out a personal loan for $4,500 with a monthly payment of $173.06 for 36 months.…
A: If you have any help please let me know in comment box and then I will help you.
Q: What is the result of this disposal transaction?
A: Step 1: Introduction to the Asset DisposalAsset disposal is an important term that helps to dispose…
Q: General Accounting
A: Explanation of Current Liability: A current liability is a financial obligation that a company must…
Q: None
A: Step 1: Given Value for Calculation Time = t = 3Future Value = fv = $400,000Interest Rate = r = 8%…
Q: On January 1, 2025, Crane Company purchased 12% bonds having a maturity value of $308,000 for…
A: Given Information:Date of Purchase: January 1, 2025Bonds Purchased: 12% bonds with a maturity value…
Q: TODIEN 3-5A (Algo) LO P3, P4 Williams Company manufactures soccer balls in two sequential processes:…
A: Summary and InsightsIn this task, journal entries have been created for key transactions in May,…
Q: Blue Spruce Ltd. engaged in the following cash transactions during 2023:Proceeds from sale of land…
A: Under the Accounting Standards for Private Enterprises (ASPE), financing activities include…
Ratio
Step by step
Solved in 2 steps
- A firm has a cost function C(x)=10x+107, where x represents the number of units produced. the firm's revenue function is R(x)=38x if x is equal to 78 find the firm's profit. round to the nearest whole numberA business has selling price of P 129.50 with an average variable cost of P 54.40. Fixed costs are P 1,400,000. Calculate the following: What is the unit contribution margin? (Answer the figures only; two decimal places)The cost equation of YTS Inc. is y = 35x + 400,000. y is the profit, 35 is the contribution margin per unit, x is the number of units sold, and 400,000 is the total fixed cost. What is the total units to be sold to arrive a profit of 146,000?
- A company has return on sales of 20%, income of $50,000, selling price of $10, and a contribution margin of 40% . A. What are fixed costs? Why? How? B. What are variable costs per units? Why? How? C. What are sales in units? D. What are sales in dollars? Why? How?A company has total sales of $1,000,000, variable costs of $500,000, and fixed costs of $200,000. What is the contribution margin ratio?A company has sales of $1,000,000, variable costs of $250,000, and fixed costs of $600,000. Compute the following: 1. Contribution margin ratio. 2. Break-even sales volume. 3. Margin of safety ratio. 4. Net operating income percentage.
- Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is estimated to be MC=q+35 MR=560+22q-q^2 Where q is the quantity produced and the firm’s break-even is 5 units per week You are Required to I. determine the total cost and the total revenue function in terms of q. II. estimate the output at which profit is maximize III. calculate the maximum profitIf sales are $500,000, variable cost are $200,000, and fixed costs are $240,000, what is the contribution margin ratio?Which of the following is true regarding the contribution margin ratio of asingle product company? a. As fixed expenses decrease, the contribution margin ratio increases b. The contribution margin ratio increases as the number of units sold increase c. The contribution margin ratio multiplied by the variable expense per unit equals thecontribution margin per unit d. If sales increase, the peso increase in net operating income can be computed bymultiplying the contribution margin ratio by the peso increase in sales
- Which of the following is true regarding the contribution margin ratio of a single product company? As fixed expenses decrease, the contribution margin ratio increases. The contribution margin ratio multiplied by the variable expense per unit equals the contribution margin per unit. The contribution margin ratio increases as the number of units sold increases. If sales increase, the dollar increase in net operating income can be computed by multiplying the contribution margin ratio by the dollar increase in sales.A business has selling price of P 129.50 with an average variable cost of P 54.40. Fixed costs are P 1,400,000. Calculate the following: What is the breakeven sales revenue? Use 2 decimal places in computing CM Ratio (Answer the figures only; no decimal places)Once a company exceeds its breakeven level, operating income can be calculated by multiplying: a. The sales price by unit sales in excess of breakeven units. b. Unit sales by the difference between the sales price and fixed cost per unit. c. The contribution margin ratio by the difference between unit sales and breakeven sales. d. The contribution margin per unit by the difference between unit sales and breakeven sales.
