MIKAS, Inc. sells and installs furnaces for P3,000 per furnace. The following cost formula relates to last year's operations at MIKAS: Y = P125,000 + P1,800X If MIKAS sold and installed 500 furnaces last year, what was its total contribution margin last year? 600,000 475,000 900,000 1,025,000

MIKAS, Inc. sells and installs furnaces for P3,000 per furnace. The following cost formula relates to last year's operations at MIKAS: Y = P125,000 + P1,800X If MIKAS sold and installed 500 furnaces last year, what was its total contribution margin last year? 600,000 475,000 900,000 1,025,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Assume that Corn Co. sold 7,300 units of Product A and 2,700 units of Product B during the past year. The unit contribution margins for Products A and B are $34 and $64, respectively. Corn has fixed costs of $380,000. The break-even point in units is a.9,026 units b.13,539 units c.10,831 units d.7,221 units
The following annual information is for Dexter Corporation: Product A Revenue per unit: $20.00 Variable cost per unit: $15.00 Total fixed costs: $100,000 How many units does the company have to sell to achieve an after tax income of $75,000 if the income tax rate is 25%?
The records of Valium Company show a contribution margin ratio of 45%. The company desires to earn a profit of $36,000 and has fixed costs of $60,750. Determine the sales revenue that would have to be generated in .order to earn the desired profit 215,000 ) $340,000 $300,000 $240,000 $106,250
A company had fixed costs of 180,000 last year with contribution margin ratio of 32% and selling price of P50 per unit. The company incurred a loss of 32,800. How many units were sold last year?
Halloween, Inc. reported the following income statement data for February: Sales $150,000; Total costs $170,000; Loss ($ 20,000). The firm’s contribution margin percentage at its current selling price of $20 is 40%. What is the company’s total fixed cost? $20,000 $90,000 $60,000 $80,000
Last year, Regio Company incurred the following costs: Direct materials 50,000 Direct Labor 20,000 Manufacturing overhead 130,000 Selling expense 40,000 Administrative expense 36,000 Regio produced and sold 10,000 units at a price of 31 each. 1. What is the prime cost per unit? 2. What is the conversion cost per unit? 3. What is the cost of goods sold per unit 4. What is the gross profit per unit? 5. What is the operating income?
Bluegill Company sells 10,000 units at $400 per unit. Fixed costs are $200,000, and operating income is $1,800,000. Determine the following: a. Variable cost per unit $ b. Unit contribution margin $ per unit c. Contribution margin ratio %
Assume that Corn Co. sold 7,500 units of Product A and 2,500 units of Product B during the past year. The unit contribution margins for Products A and B are $30 and $61, respectively. Corn has fixed costs of $307,000. The break-even point in units is a.9,759 units b.12,199 units c.6,506 units d.8,132 units
Chung, Inc. sells 100,000 wrenches for $24 per unit. Fixed costs are $700,000 and net income is $500,000. What should be reported as variable expenses in the contribution margin income statement? $1,080,000 $1,200,000 $1,900,000 $1,700,000
Assume that Corn Co. sold 7,800 units of Product A and 2,200 units of Product B during the past year. The unit contribution margins for Products A and B are $34 and $63, respectively. Corn has fixed costs of $370,000. The break-even point in units is a.7,330 units b.9,163 units c.10,996 units d.13,744 units
Alder Inc. produced and sold 2,000 units of one product during the year. The company's net income was $40,000, its fixed cost per unit was $60, and the variable cost ratio was .25. What must the company's sales revenue be if it wants to earn $50,000 next year? $192,000 O $208,000 $226,667 $211,111 None of the above
Assume that Corn Co. sold 6,900 units of Product A and 3,100 units of Product B during the past year. The unit contribution margins for Products A and B are $33 and $56, respectively. Corn has fixed costs of $398,000. The break-even point in units is a.11,901 units b.14,877 units c.9,918 units d.7,934 units