Answered: $150,000 $100,000 $50,000 $(50,000)…

$150,000 $100,000 $50,000 $(50,000) $(100,000) $(150,000) 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Operating Profit (Loss)

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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5 Edmonds Industries is forecasting the following income statement: Sales Operating costs (excl. Depr. & Amort.) EBITDA Depreciation EBIT Interest EBT Taxes (40%) Net income $10,000,000 5,500,000 4,500,000 1,200,000 $ 3,300,000 500,000 $ 2,800,000 1,120,000 $ 1,680,000 The CEO would like to see higher sales and a forecasted net income of $2,100,000. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 6%. The tax rate, which is 40%, will remain the same. (Note that while the tax rate remains constant, the taxes paid will change.) What level of sales would generate $2,100,000 in net income?
Sales price per unit R15 R19Variable cost per unit R6 R7Fixed cost (FC) per annum R650 000 R 855 500Fixed cost per unit R3 R4 Current assets R450 600 R560 700Current liabilities R510 000 R780 000Retained profit R21 809 R17 600Net Sales R2 900 320 R 3 100 100Cost of sales R390 000 R475 000 Calculate the break‐even point for 2019 and 2020. The current ratio reflects the relationship between the value of the current assets and the extent of the current liabilities of a business
Cod Vokne lofd Graph $100,000 80,000 H. 60,000 40,000 D 20,000 1.000 2,000 3,000 4,000 5,000 Uhits Area G represent: Select one: 1,000 2,000 3,000 4,000 5,000 Us Area G represent: Select one: O a. Losses Area O b. Break Even point Area O c. CVP Area O d. Profits Area
H. Total Sales $300,000 $210.000 $340,000 $850,000 Costs: Variable costs $180,000 $180,000 $220,000 $590,000 Fixed costs 50.000 50,000 40,000 140,000 Total costs $230.000 $230.000 $260,000 $730,000 Income (loss) $ 70.000 $(20,000) $ 80,000 $120,000 Management is considering the discontinuance of the manufacture and sale of Product G at the beginning of the current year. The discontinuance would have no effect on the total fixed costs and expenses or on the sales of Products Fand H. What is the amount of change in net income for the current year that will result from the discontinuance of Product G? O $30.000 increase $20.000 increase O$20.000 decrcase 530.000 dccrcase
Break-even chart Name the following chart and identify the items represented by the letters (a) through (f):
p7
Consider the following information for Ball Corp. $ 40,000 70,000 350,000 30,000 110,000 17,500 Selling and administrative expense Depreciation expense Sales Interest expense Cost of goods sold Таxes What is the operating profit for Ball Corp.?
Shs. Sales Revenue 400,000,000 Less: cost of sales 253,000,000 Gross profit 147,000,000 Add: miscellaneous income 53,000,000 Gross profit 200,000,000 Less: Operating expenses Rent of office space 6,000,000 Electricity 3,200,000 Staff salaries & wages 2,000,000 Telephone and meals 7,000,000 Repairs 2,600,000 Sales promotions 3,600,000 Depreciation 10,000,000 Consultancy fees 5,000,000 Bad debts 7,500,000 Donations 22,000,000 -98,900,000 Surplus 101,100,000 Gift of Stationery from Picfare 26,000,000 Transport paid for the Gift 500,000 telephone and meals Meals 1,750,000 shareholders consumption 2625000 Telephone 2625000 5250000 Total Telephone and Meals 7,000,000 Donations Donations 1,000,000 NRM Donation 19000000 Donations 2000000…
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Peace Inc. has the following information: Sales P 480,000 Operating expenses 300,000 Net loss (60,000) How much is Peace Inc.'s gross profit if its gross profit is 50% based on sales?A. 260,000B. 180,000C. 240,000D. 280,000
How much is the total realized gross profit in 20x2? a. 160,000 b. 432,000 c. 592,000 d. 642,000
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