Crane, Inc., manufactures golf clubs in three models. For the year, the Big Bart line has a net loss of $5,500 from sales $200,000, variable costs $176,000, and fixed costs $29.500. If the Big Bart line is eliminated, $20,100 of fixed costs will remain. Prepare an analysis showing whether the Big Bart line should be eliminated. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) Sales Variable costs Contribution margin Fixed costs Net Income/(Loss) $ Continue The Big Bart product line should be Eliminate $ Net Income Increase (Decrease)

Crane, Inc., manufactures golf clubs in three models. For the year, the Big Bart line has a net loss of $5,500 from sales $200,000, variable costs $176,000, and fixed costs $29.500. If the Big Bart line is eliminated, $20,100 of fixed costs will remain. Prepare an analysis showing whether the Big Bart line should be eliminated. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) Sales Variable costs Contribution margin Fixed costs Net Income/(Loss) $ Continue The Big Bart product line should be Eliminate $ Net Income Increase (Decrease)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Q7
How to solve:S= 1/1.06[1-1/(1.06)^20]/1-1/1.06
500,00X 500
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E10.15
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Via Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas and actual results for the month of June: Fixed Element per Month Variable Element per Liter Actual Total for June Revenue $ 20.00 $122,540 Raw materials $ 5.45 $ 36,030 Wages $ 6,400 $ 2.20 $ 20,200 Utilities $ 2,430 $ 1.00 $ 9,100 Rent $3,400 $3,400 Insurance $ 2,150 $2,150 Miscellaneous $ 730 $ 1.15 $ 8,050 While gelato is sold by the cone or cup, the shop measures its activity in terms of the total number of liters of gelato sold. For example, wages should be $6,4 00 plus $2.20 per liter of gelato sold and the actual wages for June were $20,200. Via Gelato expected to sell 6,300 liters in June, but actually sold 6,500 liters. Required: Calculate Via Gelato revenue and spending variances for June. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
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