Hong Publishing has purchased Lang Publishing. After reviewing titles from both companies, a decision must be made to determine what titles must be dropped. The following Information is available to make the decision.Title ZTitle X$99,000Title Y$151,000$199,00076,000100,000$75,000$99,00029,00015,000$31,000SalesVariable CostContribution MarginDirect Fixed CostAllocated Common Fixed Cost51,000$48,00019,00010,000Net Income$19,000A. What is the total income if all titles were produced?$ 88,000 ✓B. If Title X was dropped, what would be the effect on Net Income?$29,000✔ Loss ✔C. How much did Title X Contribute to Fixed Costs?D. Determine the cost and the amount that will remain even if Title X is dropped.Allocated Fixed Cost ✓10,000 ✓E. Which costs and amount will be eliminated if Title X is dropped?Contribution Margin vDirect Fixed Cost✓48,00019,00040,00021,000$38,000✓

Fixed costs are costs that remains constant and does not vary with the change in the level of…

Hong Publishing has purchased Lang Publishing. After reviewing titles from both companies, a decision must be made to determine what titles must be dropped. The following Information is available to make the decision. Title Y Title X $99,000 Title Z $199,000 $151,000 51,000 76,000 100,000 $48,000 $99,000 19,000 40,000 10,000 21,000 Net Income $19,000 $38,000 A. What is the total income if all titles were produced? $88,000✔ B. If Title X was dropped, what would be the effect on Net Income? $29,000✔ Loss ✔ Sales Variable Cost Contribution Margin Direct Fixed Cost Allocated Common Fixed Cost $75,000 29,000 15,000 $31,000 C. How much did Title X Contribute to Fixed Costs? D. Determine the cost and the amount that will remain even if Title X is dropped.

Hong Publishing has purchased Lang Publishing. After reviewing titles from both companies, a decision must be made to determine what titles must be dropped. The following Information is available to make the decision. Title Y Title X $99,000 Title Z $199,000 $151,000 51,000 76,000 100,000 $48,000 $99,000 19,000 40,000 10,000 21,000 Net Income $19,000 $38,000 A. What is the total income if all titles were produced? $88,000✔ B. If Title X was dropped, what would be the effect on Net Income? $29,000✔ Loss ✔ Sales Variable Cost Contribution Margin Direct Fixed Cost Allocated Common Fixed Cost $75,000 29,000 15,000 $31,000 C. How much did Title X Contribute to Fixed Costs? D. Determine the cost and the amount that will remain even if Title X is dropped.

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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