Nike company sells 80,000 units for $9 a unit. The fixed cost is $120,000 and the NetIncome is $360,000. What should be reported as variable expenses in the CVPincome statement

In this scenario, we are given information about Nike Company's sales volume, selling price per…

Answered: Nike company sells 80,000 units for $9…

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

What should be reported as variable expenses in the cvp income statement on these general accounting question?
Monster Inc. sells 100,000 for $120 a unit. Fixed costs are $300,000, and net income is $200,000. What should be reported as variable expense in CVP income statement?
General Accounting
Bramble Corp. sells 100000 units for $12 a unit. Fixed costs are $350000 and net income is $150000. What should be reported as variable expenses in the CVP income statement? $500000. $1050000. $700000. $850000.
Sheffield Corp. sells 200000 units for $14 a unit. Fixed costs are $350000 and net income is $250000. What should be reported as variable expenses in the CVP income statement? $2200000. $2550000. $600000. $2450000.
unland Company sells 200000 units for $10 a unit. Fixed costs are $350000 and net income is $250000. What should be reported as variable expenses in the CVP income statement? O $1400000. O $1750000. D$600000. O $1650000.
Coronado Industries sells 50000 units for $13 a unit. Fixed costs are $350000 and net income is $100000. What should be reported as variable expenses in the CVP income statement? O $550000. O $300000. O $450000 O $200000.
What is the unit variable cost of the general accounting question?
Crane Inc. had sales of $2,390,000 for the first quarter of 2022 (it sold 239,000 units). In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Sales Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.) Variable Costs Contribution Margin Fixed Costs Variable $976,000 116,000 103,000 Net Income/(Loss) Fixed $488,000 95,000 129,000 CRANE INC. CVP Income Statement For the Quarter Ended March 31, 2022 V Total $ Per Unit Percent of Sales 100 % % %
What markup percentage is the company using for this financial accounting?
Lin Corporation has a single product whose selling price is S136 per unit and whose variable expense is $68 per unit. The company's monthly tixed expense is $31,650, Required: 1. Calculate the unit sales needed to attain a target profit of $5,750. (Do not round intermediate calculations.)
Skyline Enterprises' CVP income statement includes sales of 5,500 units, a selling price of $120 per unit, variable expenses of $75 per unit, and fixed expenses of $140,000. What is the net income? a. $82,500 b. $125,000 c. $107,500 d. $75,000

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Nike company sells 80,000 units for $9 a unit. The fixed cost is $120,000 and the Net Income is $360,000. What should be reported as variable expenses in the CVP income statement