A MANUFACTURING COMPANY PRODUCED 80,000 UNITS OF A PRODUCT AT A TOTAL COST OF $720,000. The COMPANY SOLD 70,000 UNITS AT $20 PER UNIT. What IS THE GROSS PROFIT? A) $680,000 B) $770,000 C) $630,000 D) $580,000
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- Provide solution of this questionThe following information relates to the Magna Company for the upcoming year, based on 490,000 units. Amount Per Unit Sales $ 4,900,000 $ 10.00 Cost of goods sold 3,920,000 8.00 Gross margin 980,000 2.00 Operating expenses 367,500 0.75 Operating profits $ 612,500 $ 1.25 The cost of goods sold includes $1,470,000 of fixed manufacturing overhead; the operating expenses include $122,500 of fixed marketing expenses. A special order offering to buy 86,000 units for $9.30 per unit has been made to Magna. Fortunately, there will be no additional fixed expenses associated with the order and Magna has sufficient capacity to handle the order. How much will operating profits be increased if Magna accepts the special order?During the year, sales were $300,000. The unadjusted balance of Cost of Goods Sold was $225,000. Overapplied manufacturing overhead was $5,000. What is the gross profit on sales? a. 300,000 b. 80,000 c. 220,000 d. 180,000
- The following information relates to the Jasmine Company for the upcoming year, based on 424,000 units: Amount Per Unit Sales $ 8,480,000 $ 68.00 Cost of goods sold 6,784,000 40.00 Gross margin 1,696,000 28.00 Operating expenses 960,000 7.50 Operating profits $ 736,000 $ 20.50 The cost of goods sold includes $2,289,600 of fixed manufacturing overhead; the operating expenses include $281,600 of fixed marketing expenses. A special order offering to buy 74,000 units for $19.80 per unit has been made to Jasmine. Fortunately, there will be no additional fixed costs associated with the order and Jasmine has sufficient capacity to handle the order. How much will operating profits increase if Jasmine accepts the special order? Multiple Choice $185,000 $74,000 $562,400 $370,000Chelsea Company has sales of $400,000, variable costs of $10 per unit, fixed costs of $100,000, and a profit of $60,000. How many units were sold?Creative Stuff, Inc. produced 10,000 units of output but sold only 9,000 of the units produced. Including implicit costs, the average cost of production for each unit of output produced was $75. Each of the 9,000 units sold were sold for a price of $95. (x) Total costs of production for Creative Stuff, Inc. would be less than $760,000 but more than $725,000 (y) Economic profits for Creative Stuff, Inc. would equal $200,000 (z) Total revenue for Creative Stuff, Inc. would be $855,000 (x), (y) and (z) (x) and (y) only (x) and (z) only (y) and (z) only (x) only
- For the following annual data of the electrical company producing 25,000 electrical bulbs, calculate the selling price of each electrical bulb. No. of workers= 10 Working wage= $10,000 Material cost = $200,000 Water, generator and electricity invoices = 17% of the prime cost. Distribution cost = 15% of the direct cost. Administration cost= 10% of the direct cost. Advertising cost= 20% of the administration cost. Profit = 8% of the total cost.What is the financial advantage of spending the additional money?Ans