Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricing model with two alternatives for taxpayers:Standard Deduction (Standard) or Itemized Deductions (Itemized). Price and variable costs for the two services are listed below.ItemizedSales price (per return)Variable costs (per return)Standard$ 60.0020.00$ 270.0050.00The annual fixed costs at Grixdale are $280,000. Based on experience, the owner estimates that Standard Deduction returnsrepresent 25 percent of the the firm's business.Required:How many Standard Deduction and Itemized Deduction returns must be filed annually to break even?Standard Deduction returnsItemized Deduction returnsBreak-EvenSales in Units

Break even point is that point where there is no profit or no loss. The contribution margin earned…

Answered: Grixdale Tax Services prepares taxes…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 16MC: An example of an uncontrollable cost would include all of the following except______. A. real estate...

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Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricing model with two alternatives for taxpayers: Standard Deduction (Standard) or Itemized Deductions (Itemized). Price and variable costs for the two services are listed below. Sales price (per return) Variable costs (per return) Standard $190.00 150.00 The annual fixed costs at Grixdale are $507,500. Based on experience, the owner estimates that Standard Deduction returns represent 25 percent of the the firm's business. Itemized $ 530.00 310.00 Required: How many Standard Deduction and Itemized Deduction returns must be filed annually to break even? Standard Deduction returns Itemized Deduction returns Answer is complete but not entirely correct. Break-Even Sales in Units 12,688 2,302
Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricing model with two alternatives for taxpayers: Standard Deduction (Standard) or Itemized Deductions (Itemized). Price and variable costs for the two services are listed below. Standard Itemized Sales price (per return) $ 180.00 $ 510.00 Variable costs (per return ) 140.00 290.00 The annual fixed costs at Grixdale are $490,000. Based on experience, the owner estimates that Standard Deduction returns represent 25 percent of the the firm's business. Required: How many Standard Deduction and Itemized Deduction returns must be filed annually to break even?
Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricing model with two alternatives for taxpayers: Standard Deduction (Standard) or Itemized Deductions (Itemized). Price and variable costs for the two services are listed below. Sales price (per return) Variable costs (per return) Standard $ 90.00 50.00 The annual fixed costs at Grixdale are $332,500. Based on experience, the owner estimates that Standard Deduction returns represent 25 percent of the the firm's business. Standard Deduction returns Itemized Deduction returns Itemized $ 330.00 110.00 Required: How many Standard Deduction and Itemized Deduction returns must be filed annually to break even? Break-Even Sales in Units
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R&R Tax Service offers tax and consulting services to individuals and small businesses. Data for fees andcosts of three types of tax returns follow. R&R provides services in the ratio of 5:3:2 (easy, moderate,business). Fixed costs total $18,000 for the tax season. Use this information to determine the (1) sellingprice per composite unit, (2) variable costs per composite unit, (3) break-even point in composite units,and (4) number of units of each product that will be sold at the break-even point.Type of Return Fee Charged Variable Cost per ReturnEasy (Form 1040EZ) . . . . . . . . . . . . . . $ 50 $ 30Moderate (Form 1040) . . . . . . . . . . . . 125 75Business . . . . . . . . . . . . . . . . . . . . . . . . 275 100
R&R Tax Service offers tax and consulting services to individuals and small businesses. Data for fees and costs for three types of tax returns follow. Fixed costs total $39,680. Variable Cost Type of Return Easy Sales Mix Fee Charged $ 40 100 per Return $ 20 10% Moderate 50% 60 Business 40% 240 140 (1) Determine the weighted-average contribution margin. Sales mix Contribution margin per return Total per unit Easy 10% Moderate 50% Business 40% Weighted-average contribution margin (2) Determine the break-even point in units using the weighted-average contribution margin. Numerator: Denominator: Break Even Units = Break even units %3D (3) Determine the number of units of each product that will be sold at the break-even point. Sales mix Number of units to break even. Units sales at the break-even point Easy Moderate Business
Cullumber Company is considering two alternatives. Alternative A will have revenues of $147,300 and costs of $101,600. Alternative B will have revenues of $185,100 and costs of $122,800. Compare Alternative A to Alternative B showing incremental revenues, costs, and net income. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Revenues Alternative A Costs Net Income $ is better than $ SA $ Alternative B $ Net Income Increase (Decrease)
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ces R&R Tax Service offers tax and consulting services to individuals and small businesses. Data for fees and costs for three types of tax returns follow. Fixed costs total $48,640. Type of Return Sales Mix Fee Charged Easy 30% $ 70 Moderate 50% 170 Business 20% 410 Variable Cost per Return (1) Determine the weighted-average contribution margin. Easy Moderate Business $ 40 100 250 Sales mix Contribution margin per return Total per unit + 30% 50% 20% Weighted-average contribution margin (2) Determine the break-even point in units using the weighted-average contribution margin. Numerator: Denominator: (3) Determine the number of units of each product that will be sold at the break-even point. Number of units to break even. Sales mix Easy Moderate Business Break Even Units Break even units Units sales at the break-even point
R&R Tax Service offers tax and consulting services to individuals and small businesses. Data for fees and costs for three types of tax returns follow. Fixed costs total $51,520...

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