In 2023, Apple Inc. reported total revenue of $383.29 billion and a gross profit of $170.78 billion. The company's operating expenses, including research and development and selling, general, and administrative costs, amounted to $54.82 billion. Apple also incurred interest expenses of $2.69 billion and paid income taxes of $19.30 billion. Given these financial figures, what was Apple's net income for the 2023 fiscal year? How would you calculate the company's profit margin, and what does this metric indicate about Apple's financial performance? Tesla Inc. is considering introducing a new electric vehicle model and needs to determine its break-even point. The company estimates that the fixed costs associated with producing this new model will be $500 million per year. Variable costs are expected to be $35,000 per unit, which includes materials, direct labor, and variable overhead. Tesla plans to price the new model at $55,000 per unit. How many units of this new electric vehicle model does Tesla need to sell annually to break even? If Tesla aims to achieve a profit of $200 million in the first year, how many units would they need to sell? What does this analysis reveal about the financial viability of introducing this new model?

In 2023, Apple Inc. reported total revenue of $383.29 billion and a gross profit of $170.78 billion. The company's operating expenses, including research and development and selling, general, and administrative costs, amounted to $54.82 billion. Apple also incurred interest expenses of $2.69 billion and paid income taxes of $19.30 billion. Given these financial figures, what was Apple's net income for the 2023 fiscal year? How would you calculate the company's profit margin, and what does this metric indicate about Apple's financial performance? Tesla Inc. is considering introducing a new electric vehicle model and needs to determine its break-even point. The company estimates that the fixed costs associated with producing this new model will be $500 million per year. Variable costs are expected to be $35,000 per unit, which includes materials, direct labor, and variable overhead. Tesla plans to price the new model at $55,000 per unit. How many units of this new electric vehicle model does Tesla need to sell annually to break even? If Tesla aims to achieve a profit of $200 million in the first year, how many units would they need to sell? What does this analysis reveal about the financial viability of introducing this new model?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of...

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