In 2015, Nova Corp sold 4,500 units at 300 each. Variable costs were 220 per unit, and fixed costs $150,000. What were NovaCorp's 2015 net income? was
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What was Nova Corp's 2015 net income
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- Net income?In 2012, Grant Co. sold 160,000 units of its product at a selling price of $40. The variable cost per unit was $30, and Grant reported net income for the year of $200,000. What was the amount of Grant's fixed costs for the year?The X Corp income statement resembles the following after 35,000 units were sold in 2020. Sales = $420,000 / $12 per unit Variable = $192,500 / $5.5 per unit Contribution Margin = $227,500 / $6.5 per unit Fixed Expense $110,000 Net Op Income $117,500 A. What is X Corp. breakeven point in units and dollars? B. What is X Corp. margin of safety in %, units, and dollars?
- KidsPlay, Inc., manufactures and sells table sets. In 2016, it reported the following: Units produced and sold 3,000 Investment $3,000,000 Markup percentage on full cost 10% Rate of return on investment 15% Variable cost per unit $600 Q. What was KidsPlay’s operating income in 2016? What was the full cost per unit? What was the selling price? What was the percentage markup on variable cost to achieve the selling price? What are the total fixed costs?For 2013, Harper Company sold 86,000 units at a selling price of $23 per unit. Variable cost per unit was $15, and Harper's net income for the year was $46,000. What was the amount of Harper's fixed costs? Multiple Choice $1,932,000 $642,000 $688,000 $1,058,000Last month the Blank Inc. had sales of 5,000 units sold for P40 each. The total variable expenses were P120,000, and fixed costs were P65,000. Required: a. What is the company’s contribution margin (CM) ratio? b. Estimate the change in the company’s net operating income if it were to increase its total sales by P8,000.
- What is the economic order quantity of this financial accounting question?During 2022, Bridgeport Corp. produced 45,100 units and sold 36,080 for $14.00 per unit. Variable manufacturing costs were $4.00 per unit. Annual fixed manufacturing overhead was $108,240. Variable selling and administrative costs were $3.00 per unit sold, and fixed selling and administrative expenses were $19,900. (a) Prepare an absorption-costing income statement. (b) Your answer is correct. 4 Sales Cost of goods sold Beginning inventory Add ✓ Costs of goods manufactured Goods available for sale Less Ending inventory Gross margin Less Selling and administrative expenses Operating income eTextbook and Media Bridgeport Corp. Income Statement-Absorption Costing For the Year Ended December 31, 2022 Variable costing operating income $ Absorption costing operating income Fixed manufacturing overhead costs deferred in ending inventory $ $ 288640 i 288640 0 57728 i 505120 230912 i 274208 Reconcile the difference between the net income under variable costing and the net income under…Sphrantzes Company recently sold 175 units at a price of $650 per unit. During the same time the company reported total variable costs of $85,575 and net income of $13,975. If the company's price per unit were decreased by $35, its volume increased by 20 units and its fixed costs increased by $1,000, what would be the company's projected net income?
- What is its net income?In March, James Electronics had sales of $2,550,000 (25,500 units), total variable expenses of $1,275,000, and total fixed expenses of $825,000. Required: 1. What is the company's CM ratio? CM ratio % A 2. Using the CM ratio, calculate the break-even level of sales in dollars. Break-even level of sales in dollor 3. What is the break-even level of sales in units? Break-even level of sales in units unitsTinRoof, Inc., manufactures and sells a do-it- yourself storage shed kit. In 2016, it reported the following: Units produced and sold 3,200 I Investment $2,400,00O I Markup percentage on full cost 8% ' Rate of return on investment 12% | Variable cost per unit $500 Required 1. What was TinRoof's operating income in 2016? What was the full cost per unit? What was the selling price? What was the percentage markup on variable cost? 2. TinRoof is considering increasing the annual spending on advertising by $175,000. The managers believe that the investment will translate into a 10% increase in unit sales. Should the company make the investment? Show your calculations.
