Naylor Company had $155,200 of net income in 2016 when the selling price per unit was $154, the variable costs per unit were $94, and the fixed costs were $571,900. Management expects per unit data and total fixed costs to remain the same in 2017. The president of Naylor Company is under pressure from stockholders to increase net income by $62,800 in 2017. Compute the number of units sold in 2016.
Q: What is the amount of gain
A: Step 1: Definition of Gain on SaleThe gain on sale of property is calculated as the difference…
Q: Bay manufacturing started production solve this accounting questions
A: Step 1: Definition of Cost per Equivalent Unit for Conversion CostsThe cost per equivalent unit for…
Q: Subject: financial accounting
A: Silk corporationPartial Statement of Comprehensive IncomeaIncome Before Income Taxes $457,000…
Q: Do fast answer of this accounting questions
A: Step 1: Start with the formula:• Actual Cost = Standard Cost + Price Variance + Quantity…
Q: I want solution
A: Comprehensive income includes all changes in equity during a period, except those resulting from…
Q: General Account
A: Step 1: Key InformationUnits Completed and Transferred Out: 8,000 (fully complete).Ending Work in…
Q: Sugar and More Company shows $170,000 worth of assets on its December 31, 2009, balance sheet. If…
A: Detailed Explanation:To calculate the owners' equity, we use the accounting equation:…
Q: Solve this. Account
A: Step 1: Key InformationUnits Completed and Transferred Out: 9,900 (fully complete for both direct…
Q: Financial Accounting
A: Given:Beta = 1.25Expected return on market = 14% or 0.14Risk-free rate = 6.5% or 0.065 Market risk…
Q: Prepare the appropriate journal entry to record Lance's income tax provision for 2016.
A: To prepare the journal entry for Lance's income tax provision for 2016, we need to consider both…
Q: Get correct answer accounting questions
A: Calculating Gross Profit:• Step 1: Use the Gross Profit Formula.• Step 2: Substitute the given…
Q: Which of the following accounting principles requires businesses to record depreciation? a. the cost…
A: The correct answer is:b. the matching principle Explanation:The matching principle is an accounting…
Q: Hi Give account answer.
A: To calculate the cost of Job 845 using Activity-Based Costing (ABC), we allocate overhead costs to…
Q: The cost of goods sold is found on which financial statement? (1) Income Statement (2) Balance Sheet…
A: Explanation of Cost of Goods Sold (COGS):Cost of goods sold (COGS) represents the direct costs…
Q: What is the answer?
A: Explanation of Net Income:Net income is the profit earned by a company after deducting all expenses,…
Q: what is the contribution margin ratio? accounting.
A: To calculate the contribution margin ratio, we use the formula: Contribution Margin…
Q: Calculate it's gross profit?
A: Step 1: Define Gross ProfitIn financial accounting, the determination of gross profit is a…
Q: Assets totaled $25,550 and liabilities totaled $8,630 at the beginning of the year. During the year,…
A: Concept of AssetsAssets are resources owned by a company or individual that have economic value and…
Q: A company has net income of $268,000 and total assets of $2,576,000. What is the ROA? Question
A: 1. Calculate Return on Assets (ROA) Formula: ROA = Net Income / Total Assets Calculation: ROA =…
Q: Which of the following is a current liability? (a) Notes Payable (due in 2 years) (b) Bonds Payable…
A: Explanation of Current Liability: A current liability is an obligation that must be settled within…
Q: GENERAL ACCOUNTING 2.4
A: Explanation of Equivalent Units for Materials:Equivalent units for materials refer to the number of…
Q: Hello, tutor please give me answer financial accounting problem
A: Step 1:First calculate the contribution margin per unit: Contribution margin per unit = Selling…
Q: Hii expert please given correct answer general Accounting
A: Step 1: Definition Raw Material Needed for Production: The materials required to produce the planned…
Q: Get correct answer general accounting question
A: Explanation: In the given case, we are required to calculate the monthly payment if the purchase of…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Recognized Gain or Loss and BasisRecognized gain: The portion of the gain that…
Q: Jill's 2023 balance sheet showed net fixed assets of $2.4 million, while its 2020 balance sheet…
A: Explanation of Net Fixed Assets:Net fixed assets represent the value of a company's long-term…
Q: If a firm experience decreases in the per-unit costs of production as its network increases, then…
A: A. Economies of ScopeThe cost benefits that a company receives by manufacturing a range of goods…
Q: Please solve this question general accounting
A: Step 1: Define Net ProfitNet profit or net income is the ultimate profit generated by a company…
Q: its general account subject questions. please solve it
A: The correct answer is:b. economies of scale. Explanation:Economies of Scale:Refers to the reduction…
Q: Kindly help me with general Accounting question
A: Step 1: Define Dividend Yield:The dividend yield ratio indicates the payment of the corporation's…
Q: Andrews Corporation has income from operations of $256,000. In addition, it received interest income…
A: Step 1: Determine Taxable Income1. Start with Income from Operations: Income from…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Days Sales Outstanding (DSO)Days Sales Outstanding (DSO) measures the average…
Q: Hi expert provide correct answer general accounting
A: Step 1: Define AssetsAssets are financial resources owned by the company. These are presented in the…
Q: Need general account
A: To determine the change in total assets, we use the accounting equation:…
Q: What are the earings per share on these financial accounting question?
A: Step 1: Define Earnings Per Share (EPS)Earnings Per Share (EPS) is a financial ratio that indicates…
Q: Financial Accounting Question
A: Step 1: Define EquityEquity shares are those shares that do not have maturity value and can be…
Q: I want to this question answer general Accounting
A: Step 1: Define Interest RevenueInterest revenue results from a company's investing activities, such…
Q: I need this question answer general accounting question
A: Step 1: Define Capital ExpenditureCapital expenditure refers to the sum of capitalized expenses that…
Q: Solve this accounting problem please answer
A: Step 1: Define Actual Overhead CostThe actual overhead cost represents the total manufacturing…
Q: Calculate roe solve this accounting questions
A: Step 1: Definitions of Total Assets Turnover:Total Assets Turnover is a financial ratio that…
Q: Please post. General Account
A: Step 1: Identify the variable manufacturing costs per unit Step 2: Add the variable manufacturing…
Q: JOHN Company
A: Step 1: Calculation of manufacturing overheadsManufacturing Overheads = Direct Labor ×…
Q: If corporation has stockholders
A: Step 1: Definition of Total AssetsTotal assets represent the resources owned by a corporation.…
Q: ?!
A: Explanation: The formula to calculate the inventory turnover ratio is as follows:Inventory turnover…
Q: General accounting
A: Step 1: Formulas Net income = Revenues - ExpensesEquity = Assets - Liabilities Step 2: Net income…
Q: Provide This general account answer.
A: To determine the level of volume (output) where the firm would prefer Process B to Process A, we…
Q: None
A: Step 1: Definition of the Accounting EquationThe accounting equation is the foundation of…
Q: What was its total assets turnover ratio?
A: Step 1: Define Total Assets Turnover RatioThe total assets turnover ratio is a ratio in finance and…
Q: What is the company's gross profit??
A: Step 1:Gross profit is the profit that is calculated by deducting the cost of goods sold from net…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Degree of Operating Leverage (DOL)The degree of operating leverage (DOL)…
None
Step by step
Solved in 2 steps
- Please give me answerP5-3A Dousmann Corp.'s sales slumped badly in 2014. For the first time in its history, it operated at a loss. The company's income statement showed the following results from selling 500,000 units of product: sales $2,500,000; total costs and expenses $2,600,000; and net loss $100,000. Costs and expenses consisted of the amounts shown below. Total Variable Fixed Cost of goods sold Selling expenses Administrative expenses $2,140,000 250,000 210,000 $1,540,000 92,000 68,000 $600,000 158,000 142,000 $2,600,000 $1,700,000 $900,000 Management is considering the following independent alternatives for 2015. 1. Increase unit selling price 20% with no change in costs, expenses, and sales volume. 2. Change the compensation of salespersons from fixed annual salaries totaling $150,000 to total salaries of $60,000 plus a 5% commission on sales.ats E5-14 Naylor Company had $210,000 of net income in 2013 when the selling price per unit was $150, the variable costs per unit were $90, and the fixed costs were $570,000. S. Management expects per unit data and total fixed costs to remain the same in 2014. The president of Naylor Company is under pressure from stockholders to increase net income by $52,000 in 2014. Instructions (a) Compute the number of units sold in 2013. (b) Compute the number of units that would have to be sold in 2014 to reach the stock- holders' desired profit level. (c) Assume that Naylor Company sells the same number of units in 2014 as it did in 2013. What would the selling price have to be in order to reach the stockholders' desired profit level?
- The marketing department of Metroline Manufacturing estimates that its sales in 2016 will be $1.68 million. Interest expense is expected to remain unchanged at $35,000, and the firm plans to pay $66,000 in cash dividends during 2016. Metroline Manufacturing's income statement for the year ended December 31, 2015, is given along with a breakdown of the firm's cost of goods sold and operating expenses into their fixed and variable components. a. Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2016. b. Use fixed and variable cost data to develop a pro forma income statement for the year ended December 31, 2016. c. Compare and contrast the statements developed in parts a. and b. Which statement probably provides the better estimate of 2016 income? Explain why.The table below shows the manufacturing costs, overhead and profit of a company between 2016 and 2019. The total bars represent the revenues. What line item experienced the biggest year-on-year growth rate across any of these years? SELECT ONLY ONE Profit $35,000 $30,000 $9,000 $25,000 $20,000 $8,000 $15,000 $4,000 $10,000 $3,000 $3,500 $3,000 $3,000 $16,000 $5,000 $2.000 $6,000 $7,000 $4,000 2016 2017 2018 2019 Q Manufacturing cost Overhead Profit Overhead Revenues Manufacturing costBooker Inc. is a distributor of building supplies. Management for the company has developed the following forecasts of net income: Table 8 Forecasted Net Income of Booker Inc. in USD (As of December 31st of each year) Year Forecasted Net Income 2011 $111,432 2012 $131,490 2013 $156,473 2014 $178,379 2015 $199,784 Management expects net income to grow at a rate of 7% per year after 2015 and the company's cost of equity capital is 14%. Management has set a dividend payout ratio equal to 25% of net income and plans to continue this policy. Booker’s common shareholders' equity at January 1, 2011, is $544,902. Using the residual income model, compute the value of equity of Booker as of January 1, 2011. Using the dividend discount model, compute the value of equity of Booker as of January 1, 2011. Compare the results in parts (a) and (b) and discuss possible reasons for any discrepancies.
- According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2016. Let’s see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2016. 2016 2015 Sales Revenue $ 120,000 $ 150,000 Cost of Goods Sold 70,000 79,500 Gross Profit 50,000 70,500 Selling, General, and Administrative Expenses 38,000 41,000 Interest Expense 700 575 Income before Income Tax Expense 11,300 28,925 Income Tax Expense 2,500 7,000 Net Income $ 8,800 $ 21,925 Required: Compute the gross profit percentage for each year. Assuming that the change from 2015 to 2016 is the beginning of a sustained trend, is Computer Tycoon likely to earn more or less gross profit from each dollar of sales in 2017? Compute the net profit margin…Tanek Corp.’s sales slumped badly in 2017. For the first time in its history, it operated at a loss. The company’s income statement showed the following results from selling 505,500 units of product: sales $2,527,500, total costs and expenses $2,611,875, and net loss $84,375. Costs and expenses consisted of the amounts shown below. Total Variable Fixed Cost of goods sold $2,146,815 $1,733,865 $412,950 Selling expenses 252,750 93,012 159,738 Administrative expenses 212,310 68,748 143,562 $2,611,875 $1,895,625 $716,250 Management is considering the following independent alternatives for 2018. 1. Increase unit selling price 25% with no change in costs, expenses, and sales volume. 2. Change the compensation of salespersons from fixed annual salaries totaling $151,650 to total salaries of $60,660 plus a 5% commission on sales. (a) Compute the break-even point in dollars for 2017. (Round final answer to 0 decimal places,…Blossom Corp.’s sales slumped badly in 2020. For the first time in its history, it operated at a loss. The company’s income statement showed the following results from selling 575,500 units of product: sales $2,877,500, total costs and expenses $2,984,880, and net loss $107,380. Costs and expenses consisted of the amounts shown below. Total Variable Fixed Cost of goods sold $2,455,420 $1,887,640 $567,780 Selling expenses 287,750 105,892 181,858 Administrative expenses 241,710 78,268 163,442 $2,984,880 $2,071,800 $913,080 Management is considering the following independent alternatives for 2021. 1. Increase unit selling price 20% with no change in costs, expenses, and sales volume. 2. Change the compensation of salespersons from fixed annual salaries totaling $172,650 to total salaries of $69,060 plus a 4% commission on sales. Compute the break-even point in dollars for 2020. Break-even point $…
- Russell Inc. had sales of $2,200,000 for the first quarter of 2017. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $920,000 $440,000 Selling expenses 70,000 45,000 Administrative expenses 86,000 98,000 Prepare a CVP income statement for the quarter ended March 31, 2017The Parry Company provided the following information regarding its operations: 2017 Total assets $5,200, өө 2018 Total assets $5,700,000 2017 Net operating income 2018 Net operating income 87,700 $4 92,700 Ask 2017 Net sales $2,625,000 2018 Net sales $3,200, өөө What is Parry's ROI for the year ending 2018? (Round your answer to 2 decimal places.) Multiple Cholce 3.01% 1.61% Mc GrawAccording to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipment fell 3.8 percent between January and December 2016. Required: ts 1. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Computer Tycoon Inc. for the year ended December 31, 2016. 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. 2-b. Excluding income tax, interest, and operating expenses, did Computer Tycoon earn more profit per dollar of sales in 2016 compared to 2015? еВook Hint Print Complete this question by entering your answers in the tabs below. eferences Req 1 Reg 2A Reg 2B Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages for the income statement of Computer Tycoon Inc. for the year ended December 31, 2016. (Decreases…