Krab Kakes has a selling price of $5 per cake, a variable cost of $1.50 per cake, and a total fixed cost of $3,000. In January, they sold 1,750 cakes. How much does each cake contribute to paying for fixed expenses and generating profit? a. $3.21 b. $1.50 c. $5 d. $3.50
Q: Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of…
A: Part a:The adjusting entry for the bad debt expense needs to be passed. For this, the estimated bad…
Q: Questions: 1. Post the journal entries to their respective ledger accounts 2. Prepare the trial…
A: In the journal entries, we recorded all the transactions related to the business activities for the…
Q: Blake's Bakery purchased new equipment for $45,000 on January 1, 2024. The equipment has an…
A: 1. Straight-Line Depreciation Method: Step 1: Identify key values.Cost of equipment = $45,000Salvage…
Q: How to calculate dissolution in partnership firm account
A: The Realization Account is prepared to find out the profit or loss on realization of assets and…
Q: Amazon.com, Inc. is preparing its financial statements for the fiscal year ending December 31, 2023.…
A: Amazon's Basic Earnings Per Share (EPS) for Fiscal Year 2023 Calculate Amazon's Net Income:Net…
Q: Hi expart Provide answer this accounting question
A: Step 1: The annual Profit of the company can be calculated by subtracting the total fixed costs from…
Q: Hello tutor provide answer
A: Step 1: Long-term debt can be calculated by subtracting the current liabilities and total equity…
Q: gpl
A: General formula:Horizontal analysis (% of change) = [(Comparison period - Base period)/Base period]…
Q: Need help
A: STEP 1: We First Have to Know the Accounting EquationThe basic accounting equation is:…
Q: President Company purchased merchandise from Captain Corporation on September 30, 2024. Payment was…
A: The problem is asking us to calculate the present value of the note payable that President Company…
Q: Cost Accounting Question Solve
A: Step 1: Definition of Return on Assets (ROA):The return on assets is a financial ratio that shows…
Q: LG Electronics reported a substantial accounts receivable balance of $8.2 billion at the end of…
A: Question: 1Explanation of Accounts Receivable (AR):Accounts Receivable represents the money owed to…
Q: Bubble Tea Corporation operates several stores in Ontario (Toronto, Mississauga, Oakville, Barrie…
A: 1.Loss from operation for the year 2020 -283,500Reduction in the asset (note 1)-600,000Estimated…
Q: please Give me answer fast and provide required
A: Step 1: Define Activity-Based Costing:Activity-based costing is a method of allocating overhead…
Q: Provide correct answer
A: To calculate ROE (Return on Equity), we need to find the total equity.Debt ratio = Total debt /…
Q: None
A: Step 1: Define Accounts Receivable Turnover RatioThe receivables turnover ratio measures how…
Q: Need help with this question
A: Step 1: Define Standard CostingStandard costing refers to the comparison of standard and actual…
Q: Exercise 20-7 (Algo) Change In principle; Change In Inventory cost method [LO20-2] Millington…
A: 1). Preparation of the journal entry to record the change in accounting principle. DateAccount &…
Q: Leidich Corporation manufactures hospital equipment. The Measurement Division (MD) manufactures…
A: A.ROI = Division operating profit / Assets + Investment - New automated equipment - Other…
Q: General Motors (GM) is considering introducing a new electric vehicle model. The fixed costs for…
A: Question 1: General Motors (GM) - Break-even point and target profit analysisExplanation of…
Q: not use ai please How to solve Trey Monson starts a merchandising business on Dec. 1 and enters…
A: In the FIFO method:The first items purchased (oldest inventory) are the first to be sold.This means…
Q: Skip to question KAB Inc., a small retail store, had the following results for May. The budgets for…
A: Step 1: Identify the cost of goods purchased for resale in June.Step 2: Determine the payment month…
Q: Hello give Answer
A: Step 1: Understand Gerald's income from Bread Corporation (C Corporation)Bread Corporation is a C…
Q: None
A: Here are the details for Activision Blizzard's consolidated shareholders' equity based on the 2022…
Q: Not use ai please don't
A: Taxable Interest Income:Annual coupon payment = Par value * Coupon rate = $12,000 * 9% =…
Q: Financial information follows for four different companies: Apple Inc. Banana Corp. Cherry…
A: Explanation: The following formulas will be used in the calculations for the missing amounts:Net…
Q: General accounting
A: To determine if Kellogg should implement the Just-In-Time (JIT) inventory system based on financial…
Q: Selected data of Islander Company follow: As of December 31, Balance Sheet Data 20X1…
A: The accounts receivable turnover is calculated by dividing the net credit sales by the average…
Q: On January 1, Refuge Sales Company entered into a lease agreement to lease a piece of machinery for…
A: lease's implicit rate is calculated using the annual lease payment ($16,000), the equipment's fair…
Q: What is the contribution margin ratio for yountz company?
A: Step 1: Define Contribution MarginThe contribution margin ratio is a financial metric that provides…
Q: Solve accounting question not use ai
A: Step 1: Definition of Contribution MarginThe contribution margin is a vital input under marginal…
Q: In 2023, Microsoft Corporation reported total revenue of $211.9 billion and total expenses of $145.5…
A: Microsoft's Ending Retained Earnings Balance for 2023To calculate Microsoft's ending retained…
Q: 10.1 Recharge Ltd. purchased a patent on January 1, 2020, for $ 1,120,000. At the time of the…
A: Summary of Journal Entries1. Purchase of Patent (2020):• Dr Patent: $1,120,000• Cr Cash:…
Q: Required Information [The following Information applies to the questions displayed below.] During…
A: To find how much short-term and long-term capital loss carryovers remain after 2023, follow these…
Q: Not use ai please don't
A: Step 1:To calculate the required number of units to be sold to earn desired profit will be…
Q: None
A: Explanation: Current carrying amount of investment by DeMilo, Incorporated, is given as $505,600 for…
Q: ACCOUNTING question
A: Explanation of Payment Amount:Payment Amount is the amount the company will actually pay after…
Q: Need help with this question
A: (a) Compute the gain or loss to Mann on the settlement of the debt. Calculation:The total carrying…
Q: Suki and Steve own 50 percent capital and profits interests in Lorinda LLC. Lorinda operates the…
A: a-1. Amount of Lorinda's Loss Deductible by Suki and Steve1. Tax-Basis Limitation:Each partner's…
Q: Need experts solution only, Don't use AI.
A: Step 1: Identify the Sale Transaction On May 1, X-Mart sold merchandise on credit for $1,400. The…
Q: Need Correct Solution of this Question
A:
Q: Financial accounting
A: Step 1: Calculate Stockholders' Equity at the End of 2023• Determine Beginning Stockholders' Equity•…
Q: Give true answer the question
A: To find out how much more Beverly Frost would pay monthly if the interest rate rose to 9%, we need…
Q: aynard Boats Inc., presented the following information for the year ending Year 6. Baynard Boats,…
A: The quick ratio, also known as the acid test ratio, is a liquidity ratio that measures a company's…
Q: None
A: Step 1: Understanding the TransactionSMC entered into a transaction to import raw materials from a…
Q: Scenario: Your group has been assigned the task of preparing the financial records and financial…
A: Step 1: Prepare the Opening Journal EntriesWe will journalize each transaction based on the…
Q: I NEED HELP PLEASE
A: Building A: Purchase for $613,700Present Value (PV) = Purchase PricePV = $613,700No further…
Q: ??
A: Explanation of Total Assets: Total assets refer to the sum of all assets owned by a business,…
Q: Can you please give me answer this accounting question?
A: Step 1: Introduction to the Plantwide AllocationIn plantwide allocation, the company uses one…
Q: Solve this question
A:
Provide answer this question not use
Step by step
Solved in 2 steps
- VishnuCurrently, Sweet Treats Bakery sells 1,200 cupcakes per month. The owners would like to increase net income above what is currently earned. Fixed costs are $1,500 per month and their contribution margin is $3 per cupcake. What would be a reasonable net income goal? O $1,800 O $2,600 O $2,100 O $5,600Homeward Hardware buys cat litter for $6 less 20% per baq. The store's overhead is 45% of cost and the owner requires profit of 20% of cost. 1. For how much should the bags be sold? 2. What is the amount of markup included in the selling price? 3. What is the rate of markup based on selling price? 4. What is the rate of markup based on cost? 5. What is the break-even price? 6. What operating profit or loss is made if a bag is sold for $6?
- Rolf's Golf store sells golf balls for $27 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of 20% of cost. a. How much does Rolf's Golf store buy the golf balls for? _____________$ per dozen Round to the nearest cent b. What is the price needed to cover all the costs and expenses? _____________$ Round to the nearest cent c. What is the highest rate of markdown at which the store will still break even? _____________% Round to two decimal places d. What markdown rate would price the golf balls at cost? _____________% Round to two decimal placesA yogurt company sells its product for S4 per cup. The variable costs to produce each cup add up to $1.50. The company's fixed costs each month are $300,000. What is the unit contribution? S 300, 005.50 $2.50 $5.50 $120,000A chocolatier produces and sells boxes of chocolates for which the fixed costs are $300 and the variablecost per box is $4. Each box of chocolate has a selling price of $20. Determine the number of boxes that must besold for the chocolatier to earn a profit of $4500
- Cost, Revenue, Profit You decide to begin selling ice cream cones at the local park and swap. Your cost for each ice cream cone is $1.33 plus you have to pay a fixed weekly fee of $240 for the booth. Your plan is to sell each ice cream cone for $2.75. 1. Write an expression to represent your total costs for the week if you sell n ice cream cones. Total Costs: 2. Write an expression to represent the revenue from the sale of n ice cream cones during the week. Revenue: 3. Write an expression that represents the profit for selling n ice cream cones in a given week. Profit: How many ice cream cones must you sell in order to make a positive profit? In order to make a positive profit, you would have to sell Select an answer ice cream cones. ↑A distributor sells water cooling units for $860 each. The operating profit is 25% on cost and markup is 60% on cost. a. Calculate the cost per cooling unit. Round to the nearest cent b. Calculate the rate of markdown offered during a sale if it made a profit of $51.40 per machine. % Round to two decimal places c. What should be the rate of markdown offered to sell the machines at the cost price? % Round to two decimal placesLiberty Coffee sells three small coffees for every large coffee. A small coffee sells for $3.00, with a variable expense of $1.50. A large coffee sells for $5.00, with a variable expense of $2.50.Requirements1. Determine the coffee shop’s monthly breakeven point in the numbers of small coffees and large coffees. Prove your answer by preparing a summary contribution margin income statement at the breakeven level of sales. Show only two categories of expenses: variable and fixed.2. Compute the coffee shop’s margin of safety in dollars.3. Use the coffee shop’s operating leverage factor (using the July contribution margin income statement) to determine its new operating income if sales volume increases 12%. Prove your results using the contribution margin income statement format. Assume that sales mix remains unchanged.
- Austin Avenue Clothiers pays $52 each for sports coats and has a fixed monthly cost of $780. The store sells the coats for $71 each. (a) What is the linear cost-volume function C(x)? C(x) = (b) What is the linear revenue function R(x)? R(x) = (c) What is the break-even number of coats? (Round your answer up to the nearest whole number.)Rolf's Golf store sells golf balls for $27 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of 18% of cost. a. How much does Rolf's Golf store buy the golf balls for? _____per dozen b. What is the price needed to cover all the costs and expenses? c. What is the highest rate of markdown at which the store will still break even? d. What markdown rate would price the golf balls at cost?Annie's Homemade sells ice cream for $5.00 per serving. Its variable cost is $1.25 per serving and its total fixed costs are $11,000 per month. Required: What is Annie's break-even point in number of servings per month? What is Annie's break-even point in dollar sales per month? Do not give answer in image
