TB MC Qu. 3-49 (Algo) Gardner Corporation manufactures skateboards...Gardner Corporation manufactures skateboards and is in the process of preparing next year's budget. The pro forma income statement for the current year ispresented below.SalesCost of Sales:Direct MaterialDirect LaborVariable OverheadFixed OverheadGross ProfitSelling and G&A:VariableFixedOperating Incomeere to search$ 310,000210,00084,000160,000Multiple Choice$ 260,000310,000O$ 1,920,000For the coming year, the management of Gardner Corporation anticipates a 10 percent increase in sales, a 12 percent increase in variable costs, and a $51,000increase in fixed costs.764,000$ 1,156,000The break-even point for next year (rounded to the nearest dollar) would be:Note: Do not round intermediate calculations.570,000$ 586,000< Prev6 of 25ONext >37°F Cloudy @ L^1-

The break even sales are calculated as the sales revenue where no profit or loss is incurred. The…

MC Qu. 3-49 (Algo) Gardner Corporation manufactures skateboards... Gardner Corporation manufactures skateboards and is in the process of preparing next year's budget. The pro forma income statement for the current year is presented below. Sales Cost of Sales: Direct Material Direct Labor Variable Overhead Fixed Overhead $ 310,000 210,000 84,000 160,000 $ 1,920,000 $ 260,000 310,000 764,000 $1,156,000 Gross Profit Selling and G&A: Variable Fixed 570,000 $ 586,000 Operating Income For the coming year, the management of Gardner Corporation anticipates a 10 percent increase in sales, a 12 percent increase in variable costs, and a $51,000

MC Qu. 3-49 (Algo) Gardner Corporation manufactures skateboards... Gardner Corporation manufactures skateboards and is in the process of preparing next year's budget. The pro forma income statement for the current year is presented below. Sales Cost of Sales: Direct Material Direct Labor Variable Overhead Fixed Overhead $ 310,000 210,000 84,000 160,000 $ 1,920,000 $ 260,000 310,000 764,000 $1,156,000 Gross Profit Selling and G&A: Variable Fixed 570,000 $ 586,000 Operating Income For the coming year, the management of Gardner Corporation anticipates a 10 percent increase in sales, a 12 percent increase in variable costs, and a $51,000

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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Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Plant Eastern Region Central Region Western Region Department Chip Fabrication Electronic Assembly Final Assembly Budget Performance Report-Vice President, Production For the Month Ended June 30 Cost Factory wages Materials Power and light a. S b. Maintenance c. S d. s e. S f. S Actual $402,500 286,900 (g) $(1) Actual $(a) 86,710 135,860 $(d) Delmar Company Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 Over Budget Budget $402,500 289,800 Actual $25,680 73,390 4,460 8,050 (h) $(k) Budget $(b) 85,600 136,960 $(e) i. $ (1) $(1) 9. $ h. $ Over Budget s(c) 1,110 Delmar Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended June 30 Over Budget Budget $24,000 $1,680 73,910 3,750 7,350 j. s k. $ 1. S $(f) (Under) Budget $0 (2,900) 710 700 $111,580 $109,010 $3,090 $(520) a. Complete the budget performance…
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Answer all the parts otherwise don't solve it. Accounting This is the budget for the year ended 30 April 2021 for company XTZ Total production & sales = 2400units Selling price per unit = $1200 Variable manufacturing costs : Direct labour = $192 ; Direct material = $288 ; Overheads = $96 Fixed manufacture overheads = $216,960 Other : Fixed marketing & admin cost = $144,000 Sales commission = 5% 4) If the company earns a net profit of $298,920 ; How many units were sold 5) If expected sales volume is 2400units, what is the sales price per unit which will allow the company to break even?
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