A product has a selling price of $63, variable costs of $55, and fixed costs are $72,000. How many units must be sold to break even? A) 3,000 B) 5,000 C) 2,500 D) 9,000. Answer this financial accounting question
Q: To close the Withdrawals account. A. debit Withdrawals; credit Capital B. debit Capital; credit…
A: Approach to solving the question: To close the Withdrawals account, you should: B. debit Capital;…
Q: Financial Accounts
A: Explanation of Cost: This represents the amount of money spent by a business to acquire or produce…
Q: Financial accounting question
A: Step 1: Define Net IncomeNet income is the profit made by a company after deducting the expenses…
Q: What is the Profit?
A: Explanation of Net Profit:Net profit is the final amount of income left after deducting all…
Q: I need this question answer general Accounting
A: Step 1: Define Gross Profit Gross profit is calculated as the difference between the revenue (or…
Q: General Accounting Question please answer
A: Step 1: Define Section 197 AmortizationSection 197 allows for the amortization of intangible assets,…
Q: Calculate the equivalent units of production for the month, assuming the company uses the weighted…
A: To calculate the equivalent units of production (EUP) using the weighted-average method, we need to…
Q: Hi teacher please help me this question general accounting
A: Step 1: Define Variance AnalysisVariance analysis is conducted by comparing the actual values of…
Q: I want to correct answer accounting questions
A: Step 1: Calculate Realized Gain• Formula: Realized Gain = (FMV of Stock + Boot) - Adjusted Basis of…
Q: General Accounting Question please answer
A: Step 1: Define EOQ (Economic Order Quantity)The Economic Order Quantity (EOQ) is the order quantity…
Q: Financial Accounting
A: Step 1: Define Shareholders' Equity and Net Working CapitalShareholders' Equity: Shareholders'…
Q: Which of the following is not a correct form of the accounting equation? a. Assets equals…
A: The correct answer is:b. Assets + Stockholders' equity equals Liabilities. The Fundamental…
Q: Subject: financial accounting
A: Silk corporationPartial Statement of Comprehensive IncomeaIncome Before Income Taxes $457,000…
Q: I NEED ANSWER
A: Explanation of Applied Overhead: Applied overhead is the amount of manufacturing overhead allocated…
Q: The ledger of American Company has the following work-in-process account. Work in Process- Painting…
A: We need to calculate:Units in process at May 31.Unit materials cost for May. Part (a): Units in…
Q: The income tax expense is how much?
A: To calculate the income tax expense for Hope, Inc., we need to determine the current income tax…
Q: A review of Bearing's Year 2 records disclosed the following tax information: Wages $20,000; Taxable…
A: To calculate Bearing's Year 2 Adjusted Gross Income (AGI), we need to sum up all income sources and…
Q: Don't use Ai to answer this problem
A: Explanation of Weighted-Average Method:The weighted-average method is a process costing technique…
Q: I want to correct answer general accounting question
A: Step 1: Definition of Factory OverheadsFactory Overheads are indirect costs incurred during…
Q: The cost of goods sold is found on which financial statement? (1) Income Statement (2) Balance Sheet…
A: Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) refers to the direct costs…
Q: I need answer of this accounting questions
A: Interest revenue = Principal x Annual interest rate x Period 2024 = 6 months (July 1 - December 31,…
Q: What is the adjusted book balance???
A: Detailed explanation:Cash account ending balance per books $ 6,800Add : Error in recording a check…
Q: Alpha Corporation applies overhead costs to jobs on the basis of direct labor Costs.
A: Explanation of Overhead Costs:Overhead Costs refer to the indirect expenses incurred during the…
Q: Please answer the accounting question not use ai
A: To determine the financial advantage or disadvantage of spending the additional $250,000 on…
Q: Can you help me with general accounting question
A: Step 1: Identify the accounting equationStep 2: Note the changes in liabilities and stockholders'…
Q: cost account
A: Step 1: Understand the ProblemWe are tasked with calculating the portion of conversion costs…
Q: Quick answer of this accounting questions
A: Detailed explanation:Given:Sales, $ 800,000Variable Costs, 65% of SalesOperating Income, $ 75,000…
Q: ?
A: Explanation of Applied Overhead:Applied overhead refers to the manufacturing overhead that is…
Q: Don't use ai given answer accounting questions
A: Step 1: If Applied manufacturing overhead cost is less than the actual manufacturing overhead cost…
Q: Provide correct answer general Accounting
A: Step 1: Define Key TermsEarnings Per Share (EPS): It is a company's net income divided by the total…
Q: True Account solutions please.
A: To compute the total equivalent units of production (EUP) for conversion costs in the Refining…
Q: What was the net income for the year on these general accounting question?
A: Step 1: Define Net IncomeNet income is the profit a company earns during a given period after…
Q: The matching principle requires that: (a) Expenses are recorded when cash is paid (b) Assets and…
A: Option (a): Expenses are recorded when cash is paid.It describes cash accounting, not the matching…
Q: What is the amount of shareholders equity on these general accounting question?
A: Step 1: Define Shareholders' EquityShareholders' equity represents the residual value of a company's…
Q: Subject - General Account
A: To calculate the cost per equivalent unit, we use the following formula: Cost per…
Q: Olds inc., which products a single product, has provided the solve this question
A: Step 1: Define Absorption CostingAbsorption costing is a costing system for inventory valuation. It…
Q: Get cost account answer
A: Explanation: Under weighted average method for calculating equivalent units, the units completed and…
Q: If a company has sales revenue of $120,000, cost of goods sold of $70,000, and operating expenses of…
A: Concept of Sales Revenue:Sales revenue refers to the total amount of money a company earns from…
Q: General Accounting Question please provide correct solution
A: Step 1: Define Return on Common Stock Equity (ROE)Return on Common Stock Equity (ROE) measures a…
Q: What is the amount of Stockholders' equity at the end of the year on these general accounting…
A: Step 1: Define Stockholders' EquityStockholders' equity represents the owners' residual interest in…
Q: Provide correct answer financial accounting
A: Step 1: Define Material Price VarianceThis variance sets the accountability of the purchasing…
Q: how much is the expected total variable cost on the August budget?
A: To calculate the expected total variable cost for August, we consider materials and labor as…
Q: Which of the following is a current liability? (a) Notes Payable (due in 2 years) (b) Bonds Payable…
A: Explanation of Current Liability: A current liability is an obligation that must be settled within…
Q: Hi expert provide correct option general accounting
A: Step 1: Define Gross ProfitNet sales are reduced by the cost of products sold to generate gross…
Q: ABC Company produces widgets with a standard cost of $15 per unit. During the month, they produced…
A: Concept of Standard Cost:Standard cost refers to the predetermined cost of producing a product or…
Q: What is the value of ending inventory under variable costing on this accounting question?
A: Step 1: Define Variable CostingUnder variable costing, only variable costs (direct materials, direct…
Q: How much did shareholders initially invest in the business on these general accounting question?
A: Step 1: Define Initial Shareholder InvestmentInitial shareholder investment refers to the equity…
Q: Please need help with this accounting problem
A: Step 1: Define Key RatiosProfit Margin is the ratio of net income to sales. It measures how much…
Q: What was Mary janane's beginning capital balance??
A: Step 1: Define Total EquityThe total equity is the net amount of assets after deducting liabilities.…
Q: On July 1, the accounts receivable account balance was $77,500. During July, $335,000 was collected…
A: Explanation of Accounts Receivable:Accounts receivable represents the amount owed by customers for…
A product has a selling price of $63, variable costs of $55, and fixed costs are $72,000. How many units must be sold to break even? A) 3,000 B) 5,000 C) 2,500 D) 9,000. Answer this financial accounting question
Step by step
Solved in 2 steps
- Please find the units to below account problemManagement believes it can sell a new product for $6.50. The fixed costs of production are estimated to be $5,500, and the variable costs are $2.50 a unit. Complete the following table at the given levels of output and the relationships between quantity and fixed costs, quantity and variable costs, and quantity and total costs. Round your answers to the nearest dollar. Enter zero if necessary. Use a minus sign to enter losses, if any. Quantity Total Revenue Variable Costs Fixed Costs Total Costs Profits (Losses) 0 $ $ $ $ $ 500 $ $ $ $ $ 1,000 $ $ $ $ $ 1,500 $ $ $ $ $ 2,000 $ $ $ $ $ 2,500 $ $ $ $ $ 3,000 $ $ $ $ $ Determine the break-even level using the above table and use the Exhibit 19.5 to confirm the break-even level of output. Round your answers for the break-even level to the nearest whole number. Round your answers for the fixed costs, variable costs, total costs,…Assume that the linear cost and revenue models apply. An item costs $13 to make. If fixed costs are $1600 and profits are $5700 when 100 items are made and sold, find the revenue equation. (Let x be the number of items.)R(x) =
- What would the result be on these financial accounting question?Suppose Morrison Corp.’s breakeven point is revenues of $1,100,000. Fixed costs are $660,000. Q1. Compute the contribution margin percentage. Q2. Compute the selling price if variable costs are $16 per unit. Q3. Suppose 75,000 units are sold. Compute the margin of safety in units and dollars. Q4. What does this tell you about the risk of Morrison making a loss? What are the most likely reasons for this risk to increase?A firm manufactures a product that sells for $25 per unit. Variable cost per unit is $2 and fixed cost per period is $1840. Capacity per period is 2000 units. (a) Develop an algebraic statement for the revenue function and the cost function. (b) Determine the number of units required to be sold to break even. (c) Compute the break-even point as a percent of capacity. (d) Compute the break-even point in sales dollars.
- Quick answer of this accounting questionsWhat will pretax income equal if sales are $350,000? General accountingA firm manufactures a product that sells for $16 per unit. Variable cost per unit is $8 and fixed cost per period is $1680. Capacity per period is 2200 units. (a) Develop an algebraic statement for the revenue function and the cost function. (b) Determine the number of units required to be sold to break even. (c) Compute the break-even point as a percent of capacity. (d) Compute the break-even point in sales dollars. (a) The revenue function is TR = (Type an expression using x as the variable. Do not include the $ symbol in your answer.) The cost function is TC = (Type an expression using x as the variable. Do not include the $ symbol in your answer.) (b) The number of units required to be sold to break even is| units. (Round up to the nearest whole number.) (c) The break-even point as a percent of capacity is%. (Round to two decimal places as needed.) (d) The break-even point in sales dollars is $ (Round to the nearest cent as needed.)
