not use ai please CVP; taxesHamlet House makes portable garden sheds that sell for $1,800 each. The tax rate for the company is 35 percent. Costs are as follows:\table[[ \table[[Per], [Unit]], Total], [Direct material,$800,], [Direct labor,90,], [Variable production overhead,60,], [Variable selling andadministrative cost,50,], [Fixed production overhead,,$480,000

CVP; Taxes 1. Calculate the total variable cost per unit:The total variable cost per unit is the sum…

Answered: CVP; taxes Hamlet House makes portable…

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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Green Thumb Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $230 per unit, of which $160 is product cost and $70 is selling and administrative expenses. In addition, the total cost of $230 is made up of $120 variable cost and $110 fixed cost. The desired profit is $58 per unit. Determine the markup percentage on product cost.fill in the blank --- %
Northenscold Company sells several products. Information of average revenue and costs are as follows: Selling price per unit $20.00 Variable costs per unit: Direct materials $4.00 Direct manufacturing labor $2.00 ABC cost per unit $0.50 Fixed MOH $0.40 Variable MOH $0.30 Selling costs $2.00 Annual fixed costs $96,000 Calculate the number of units Northenscold's must sell to yield a profit of $144,000. (round to nearest whole unit).
Use the information below to answer the following question(s). Franscioso Company sells several products. Information of average revenue and costs is as follows: Selling price per unit $28.50 Variable costs per unit: Direct material $5.25 Direct manufacturing labour $1.15 Manufacturing overhead $0.25 Selling costs $1.85 Annual fixed costs $110,000 The Franscioso Company contribution margin ratio is O A. 0.702:1. O B. 1.425:1. O C. 0.298:1. O D. 1.102:1. O E. 0.637:1.
Nani Lighting Inc.
Hamlet House makes portable garden sheds that sell for $1,800 each. The tax rate for the company is 35 percent. Costs are as follows: Per Unit Total Direct material $800 Direct labor 90 Variable production overhead 60 Variable selling and administrative cost 50 Fixed production overhead $280,000 Fixed selling and administrative 84,000 a. If Hamlet House wants to earn an after-tax profit of $254,800, how many garden sheds must be sold? Answer garden shedsb. How many garden sheds must be sold to yield an after-tax profit of 8 percent of revenue?Note: Do not round until your final answer.Note: Round your final answer up to the nearest whole unit (for example, round 5.1 to 6 units).Answer garden shedsc. How much revenue is generated from selling units calculated in part (b)? $Answer
CVPAustin Automotive sells an auto accessory for $180 per unit. The company’s variable cost per unit is $30 for direct material, $25 per unit for direct labor, and $17 per unit for overhead. Annual fixed production overhead is $52,360, and fixed selling and administrative overhead is $35,336. If Austin Automotive wants to earn a pre-tax profit of $72,576, how many units must the company sell?
Olivian Company wants to earn $360,000 in net (after-tax) income next year. Its product is priced at $300 per unit. Product costs include: Direct materials $90.00 Direct labor $66.00 Variable overhead $15.00 Total fixed factory overhead $400,000 Variable selling expense is $12 per unit; fixed selling and administrative expense totals $250,000. Olivian has a tax rate of 40 percent. Required: 1. Calculate the before-tax profit needed to achieve an after-tax target of $360,000. 2. Calculate the number of units that will yield operating income calculated in Requirement 1 above. If required, round your answer to the nearest whole unit. 3. Prepare an income statement for Olivian Company for the coming year based on the number of units computed in Requirement 2. Do NOT round interim calculations and, if required, round your answer to the nearest dollar. Olivian CompanyIncome StatementFor the Coming Year Total $ $ $…
Northpoint Company sells several products. Information of average revenue and costs are as follows: (Final answer must be DOUBLE RULE) $30.00 Selling price per unit Variable costs per unit: Direct materials $6.00 Direct manufacturing labor $2.60 Manufacturing overhead $3.40 Selling costs $5.00 y Annual fixed costs $126,000 Tax Rate 35% 1. Compute for the breakeven point in Units and Pesos. 2. How much is the selling price per product to earn an after tax income of $93,000 assuming that the company sold 45,000 units? (round it to whole number) 3. Calculate the Sales required to earn a gross income of $110,000. 4. Assuming the Tax rate is 40% and the fixed cost is increased by 25%, if the company wants to earn after tax income of $150,000, how many units must be sold?
3. JRT, Inc., predicts the following unit costs of making and selling its single product at a volume of 6,000 units per month (72,000 per year): Total Costs Manufacturing costs: Materials (variable) Labor (variable) Cost Per Unit $20 10 Variable overhead 8 Fixed overhead 6. Selling and administrative expenses: Variable 7 Fixed 10 Total: $61 JRT's income tax rate is 40%, and it sells its product for $75 per unit. Required: а. Determine JRT's monthly break-even point; b. The number of units JRT would have to sell to earn a monthly net income (after-tax) of $77,400; and с. The dollar amount of sales JRT would need to make to earn a monthly net income of $32,400.
Bright Force Inc. produces and sells lighting fixtures. An entry light has a total cost of $90 per unit, of which $50 is product cost and $40 is selling and administrative expenses. In addition, the total cost of $90 is made up of $55 variable cost and $35 fixed cost. The desired profit is $20 per unit. Determine the markup percentage on product cost. Round the answer to nearest whole number.
Olivian Company wants to earn $420,000 in net (after-tax) income next year. Its product ispriced at $275 per unit. Product costs include: Direct materials $90Direct labor $65Variable overhead $16Total fixed factory overhead $440,000 Variable selling expense is $14 per unit; fixed selling and administrative expense totals $290,000.Olivian has a tax rate of 40 percent.Required:1. Calculate the before-tax profit needed to achieve an after-tax target of $420,000.2. Calculate the number of units that will yield operating income calculated in Requirement 1above. (Round to the nearest unit.)
The Cumberland Company provides the following information: Sales (250,000 units) Manufacturing costs: Variable Fixed Selling and administrative costs: Variable Fixed $625,000 212,500 37,500 100,000 25,000 5. What is the contribution margin ratio for Cumberland? 6. What is the total contribution margin for Cumberland? 7. What is the operating income for Cumberland? 8. What is the break-even point in sales dollars for Cumberland?

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