What is the gross profit? Apex Manufacturing produced 60,000 units of a product at atotal cost of $540,000. It sold 55,000 units at a price of $18per unit. What is the gross profit?Options:A) $320,000B) $675,000C) $810,000D) $495,000

Step 1: Definition of Gross ProfitGross profit is the amount remaining after deducting the cost of…

Answered: Apex Manufacturing produced 60,000…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Snower Corporation sells product G for $150 per unit, the variable cost per unit is $105, and the fixed costs are $720,000. What is the sales (in dollars) required to realize operating income of $40,000?
A product sells for $50 with variable costs of $36 per unit and annual fixed costs of $1,200,000. If the company wants to earn an operating income equal to 20% of sales, how many units must be sold (Assume all units produced are sold)?
If the current market price for selling a product at Andrew Materials is $15.50 per unit, and the company wishes to make a 12% profit, what is the target cost? Accounting question
Bloom Enterprises has fixed costs of $825,400. The selling price per unit is $210, and the variable cost per unit is $120. How many units must the company sell in order to earn a profit of $190,000?
Choose the correct option
Product X sells for $50 with variable costs of $36 per unit and annual fixed costs of $1,200,000. If the company wants to earn an operating income equal to 20% of sales, how many units must be sold, assuming all units produced are sold?
The sales price per unit would be?
How many unit must be company sell in order to earn a profit
The fixed cost at Harley motors are $1M annually. The main product has a revenue of $9.90 per unit and $4.50 variable cost What is the annual profit (or loss) if 150,000 units are sold?
Lin Corporation has a single product whose selling price is $120 and whose variable expense is $80 perunit. The company’s monthly fixed expense is $50,000.Required:1. Using the equation method, solve for the unit sales that are required to earn a target profit of$10,000.2. Using the formula method, solve for the unit sales that are required to earn a target profit of$15,000.
X Corp produces 200 units of A and 100 units of B products. Final sales amount of A is 9,000. Joint cost is 6,600. Cost beyond the split off point is 3,000 each for both A and B. Using NRV or adjusted sale value method, the computed unit cost of A is 22 per unit. What is the Final sales amount of product B?
A company sells its product at P18 per unit. Variable costs are P12 per unit and fixed costs are 150,000 per annum. The company wants to realize a profit of P60,000 during the year. What should be the sales revenue?

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Apex Manufacturing produced 60,000 units of a product at a total cost of $540,000. It sold 55,000 units at a price of $18 per unit. What is the gross profit? Options: A) $320,000 B) $675,000 C) $810,000 D) $495,000