Q.10 During the last accounting period, Carla vista corporation sold 96000 units at $45 each… During the last accounting period, Carla Vista Corporation sold 96,000 units at $45 each. The variable cost per unit was $20 per unit. Fixed costs totaled $1,100,000. What is the company's degree of operating leverage?- 1.80- 0.57- 1.85- 0.46

The contribution margin is calculated as difference between sales and variable costs. The operating…

Answered: During the last accounting period,…

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

Q1 Libscomb Technologies' annual sales are $5,153,262 and all sales are made on credit, it purchases $3,894,023 of materials each year (and this is its cost of goods sold). Libscomb also has $500,636 of inventory, $477,741 of accounts receivable, and $490,466 of accounts payable. Assume a 365 day year. What is Libscomb’s Inventory Turnover?
Sharp Co. has generated these data for the 2 most recent years where 2021 sales price was 10% lower than 2020: 2021 2020 Sales P1,944,000 Cost of Sales 1,152,000 Gross Profit P 792,000 P1,900,800 1,113,600 P787,200 Increase (decrease) in cost price must be C. (9.85%) D. 9.85% A. (8.97%) B. 8.97%
Elgin Battery Manufacturers had sales of $840,000 in 2021 and their cost of goods sold is 562,800 Selling and administrative expenses were 75,600 Depreciation expense was $19,000 and interest expense for the year was $12,000. The firm's tax rate is 35 percent. What is the dollar amount of taxes paid in 2021? Multiple Choice $172.974 $59.710 $198,400 $63,910
Q4 Libscomb Technologies' annual sales are $6,743,847 and all sales are made on credit, it purchases $3,304,291 of materials each year (and this is its cost of goods sold). Libscomb also has $535,216 of inventory, $1,475,000 of accounts receivable, and $1,400,000 of accounts payable. Assume a 365 day year. What is Libscomb’s Receivables Period (in days)?
14 Victory ML Bus company has the following data for the first quarter of 2021: Gross receipt from passengers P 8,000,000 Gross revenue from cargo operations 5,000,000 Expenses – Passengers operation 4,750,000 Expenses – Cargo operations 2,500,000 Gross receipt from rental of facilities 2,000,000 Additional info: 25% of its gross revenue from cargo operations were still outstanding as of the end of the quarter Required: determine the total business tax due for the first quarter
a companys sales in year 1 350,000 and in year 2 387,500 using year 1 as the base year the percent charge for year 2 compared to the base year is 100% 12% 11% 10% 90%
27 A company reports sales of $1,020,000, sales discounts of $2,600, sales returns and allowances of $11,600, cost of goods sold of $510,000, general and administrative expenses of $20,000, and selling expenses of $30,000. Compute gross profit.
ff1
Anthony Corporation reported the following amounts for the year: Net sales 296,000 Cost of goods sold 138,000 Average inventory 50,000 Anthony's gross profit ratio is: 53.4%. 51.9%. 50.3%. 46.6%. Anthony's average days in inventory is: 70 days. 114 days. 132 days. 151 days. A company's sales equal $60,000 and cost of goods sold equals $20,000. Its beginning inventory was $1,600 and its ending inventory is $2,400. The company's inventory turnover ratio equals: 5 times. 10 times. 20 times. 30 times. [Last question is in the picture attached]

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

During the last accounting period, Carla Vista Corporation sold 96000 units at $45 each. The variable cost per unit was $20 per unit. Fixed costs totaled $1100000. What is the company's degree of operating leverage? 1.80 0.57 1.85 0.46