Micky2, Inc. sells two products X and Y. Data concerning the company for July follow: Product X: sales - P200,000; variable expense - P50,000; and traceable fixed expenses - P80,000. For Product Y: sales - P300,000, variable expenses - P100,000 and traceable fixed expenses - P150,000. In addition there were common fixed expenses of P70,000 in July. What was the entire company's net income ?   P50,000 P70,000 P150,000 P120,000

Q: Calip Corporation, a merchandising company, reported the following results for October: Sales Cost…

A: The difference between the sales and the variable costs is called contribution margin. Contribution…

Q: Vacationnatalaga Corporation produces a single product. Data concerning the company's first year of…

A: The net income is calculated as difference between sales revenue and total expenses.

Q: Bruin Corporation's contribution margin ratio is 75% and its fixed monthly expenses are $45,000.…

A: Description: Contribution margin amount = Sales amount x Contribution margin ratio. Multiplying…

Q: The following monthly data are available for Crane Company. which produces only one product: Selling…

A: Margin Of Safety = Actual Sales - Break-even Sales

Q: Your company has provided its contribution format income statement for January. The company produces…

A: From the given information Sales $269700 Less: Variable Expenses ($107,300) Contribution…

Q: Sales P 250,000 190,000 P 60,000 82,000 (P 22,000) Cost of sales Gross profit Expenses Net income P…

A: product elimination in such a decision that is taken in order to drop a product from portfolia…

Q: ABC Inc. has sales of $2,000,000 for the first quarter of 2019. In making the sales, the company…

A: Income Statement is a statement that contains the all the Revenue and Expense for a Reporting…

Q: The Central Valley Company is a manufacturing firm that produces and sells a single product. The…

A: The break even sales are the sales where business earns no profit no loss during the period. The…

Q: For the first three months of the year 2009, Lualhati Company reported total sales of P1,400,000 and…

A: The cost of goods manufactured can be calculated from the cost of goods sold function

Q: Prepare a detailed CVP income statement for the month ended January 31, 2022.

A:

Q: An

A: Explanation of Preparing Cost-Volume-Profit Income Statements:Preparing a Cost-Volume-Profit (CVP)…

Q: Bonita Company's record of transactions for the month of April was as follows. April 1 (balance on…

A: Weighted Average Method :— Under this method, average cost per unit is used for output or sales…

Q: Cottonwoods cvp income statement included sales of 5,000units , a selling price of $100 , variable…

A: Income statement is one of the financial statements that shows profitability, total revenue and…

Q: Crane Company has sales revenue of $59000, cost of goods sold of $35000 and operating expenses of…

A: Gross profit is the difference of sales revenue and cost of goods sold.

Q: Prepare a contribution margin format income statement. China Imports, Inc., sold 18,000 units in…

A:

Q: Jacob’s Landing Inc. has sales of 2,000 for the first quarter of 2019.  The company incurred the…

A: Through CVP analysis, the corporation studies the income statement with the cost prospective where…

Q: Evansville Company had the following transactions for the month. Number Cost of Units per Unit…

A: The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

Q: Consider the following Information for the business Harry's Vintage Records. Actuals from the year…

A: The contribution margin is calculated as difference between sales and variable costs. The net income…

Q: Target has Sales Revenues of 6000, Accruals or 3500, and Operating Costs of 2500. Calculate Target's…

A: Operating income is the income earned on sale of goods and services and after deducting all type of…

Q: Citron Ltd. is a manufacturing firm that produces and sells a single product. The company's revenues…

A: High Low Method - This method is used to segregate the variable and fixed cost. This method is…

Q: During its first year of operations, Mack's Plumbing Supply Co. had sales of $550,000, wr off $8,800…

A: Accounts Receivable -The amount that a business retains as cash on hand for supplying goods or…

Q: cme Company is a manufacturer. Here are data regarding the current month: Sales revenue Fixed…

A: INCOME STATEMENTIncome Statement is one of the Important Financial Statements of the Company. Income…

Q: Geneva Company reports the following information for July: Sales $ 792,000 Variable cost of goods…

A: Lets understand the basics.Contribution margin is a margin generated on sales. It is derived by…

Q: Calip Corporation, a merchandising company, reported the following results for October: Sales Cost…

A: Step 1: Introduction to the Variable administrative expenses:Variable administrative expenses can be…

Q: Variable costs and their percentage relationship to sales are sales commissions 6%, advertising 4%,…

A: A flexible budget performance report compares actual revenues and costs over time to predicted…

Q: A company has provided the following details for a month:   Estimated Sales Units 16,500 Variable…

A: Variable costs are costs that varies with the change in the level of output whereas fixed costs are…

Q: Laka (Pty) Ltd has a 31 March year-end. Laka (Pty) Ltd has the following actual information, from…

A: Solution:    Breakeven point refers to the level of sales where there is no profit and no loss . At…

Q: Whispering Company's record of transactions concerning part X for the month of April was as follows.…

A: Under average cost method, total cost of goods available divided by number of units. Under LIFO…

Q: Dietrick Corporation produces and sells two products. Data concerning those products for the most…

A: The break-even point indicates that total units are to be sold by the business entity to recover the…

Q: The information provided below was taken from the books of Uli Enterprise for the financial year…

A: Debtors Collection Schedule:

Q: Crane Marine Products began the year with 10 units of marine floats at a cost of $13.60 each. During…

A: FIFO method is one of the methods of inventory valuation in which it is assumed that old purchases…

Q: The gross margin for Corona Company for the third quarter of the year was R3 250 000,  when sales…

A: Cost accounting is one of the branches of accounting, under which all costs are being analyzed and…

Q: monthly income sta Headphones acturing Company is given below: Department A Department B (S) 406,650…

A: Ranking Method of Selecting the Production Mix: Under this method, Products are ranked based on the…

Q: Mechem Corporation produces and sells a single product. In April, the company sold 2,000 units. Its…

A: Variable Expense :— It is the expense that changes with change in units. It is constant in per unit…

Q: Lannion and Co. Is engaged in providing and marketing a standard advice service. Summarized results…

A: The objective of the question is to calculate the Break-Even Point (BEP) in units for Lannion and…

Q: The actual selling expenses incurred in March 2022 by Sheffield Company are as follows. Variable…

A: we have to prepare a selling expenses flexible budget report. the answer are as follows.

Q: Expense 3 is a O A. Variable cost O B. Mixed cost O C. Fixed cost

A: Any cost that changes in the same proportion as the number of units produced is variable cost.…

Q: e following monthly data are available for National Co., which produces only one product: Selling…

A: Margin of safety is an investment concept that states that a shareholder should only purchase…