okSandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below.Required:1. Complete the following table.2. Suppose Sandy Bank sells its canoes for $520 each. Calculate the contribution margin per canoe and the contribution margin ratio.3. This year Sandy Bank expects to sell 760 canoes for $520 each. Prepare a contribution margin income statement for the company.4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $520 each.5. Suppose Sandy Bank wants to earn $69,000 profit this year. Calculate the number of canoes that must be sold to achieve thistarget. Sandy Bank sells its canoes for $520 each.,tComplete this question by entering your answers in the tabs below.tRequired 1 Required 2Required 3Required 4Required 5Complete the following table.ncesNote: Round your "Cost per Unit" answers to 2 decimal places.Number of Canoes Produced and Sold450610700Total costsVariable CostsFixed CostsTotal CostsCost per UnitVariable Cost per UnitFixed Cost per UnitTotal Cost per Unit$67,050145,350$212,400 $0 $0$0.00 $0.00 $0.00Required 1Required 2 >

Given Data:Total Costs for 450 canoes: $212,400Variable Costs for 450 canoes: $67,050Fixed Costs for…

Answered: ok Sandy Bank, Incorporated, makes one…

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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Wildhorse Cash, Ltd. operates a chain of exclusive ski hat boutiques in the western United States. The stores purchase several hat styles from a single distributor at $13 each. All other costs incurred by the company are fixed. Wildhorse Cash, Ltd. sells the hats for $49 each. (a) If fixed costs total $630,000 per year, what is the breakeven point in units? In sales dollars? (Use your answer of breakeven units to calculate the breakeven point in dollars.) The breakeven point hats The breakeven sales $
ces Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $600 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 830 canoes for $600 each. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $600 each. 5. Suppose Sandy Bank wants to earn $84,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $600 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Number of Canoes Produced and Sold Total costs Complete the following table. Note: Round your "Cost per Unit" answers to 2 decimal places. Variable Costs Fixed Costs Total Costs Cost per Unit Variable…
Saved Help Save & Exit St Check my V Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $510 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 760 canoes. Prepare a contribution margin income statement for the company. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Šuppose Sandy Bank wants to earn $68,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 630 790 Total costs Variable Costs 65,940 Fixed Costs 136,920 Total Costs 2$ 202,860 $ 0 $ Cost per Unit Variable Cost per Unit…
Riverside Incorporated makes one model of wooden canoe. Partial Information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Unit contribution margin Contribution margin ratio Contribution margin Net operating income 550 Scenario 1 Raises Sales Price to $750 per Canoe $ 115,500 198,000 $ 313,500 Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Riverside sells its canoes for $650 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34%) and all other answers to the nearest dollar amount. $ 210.00 360.00 $570.00 750 $ 157,500 198,000 $ 355,500 Contribution Margin Income Statement $ 210.00 264.00 $ 474.00…
Carondelet Coffee has begun making and selling pastries. The fixed costs of making the pastry are $4,000, and the company estimates that the variable costs are $.75 per pastry. How many pastries does Carondelet have to sell to earn net income of $5,000 if it sells each pastry for $3 apiece?
Clockmaker Ltd. makes a product called wallet. Managers from Clockmaker Ltd. want to achieve a profit of £82, 800. The wallet price equals £82 per unit. Each unit of wallet has a cost of £36 and annual total fixed costs equal £147, 200. Considering this information, which of the following statements is true? O a. To achieve the desired profit, Clockmaker Ltd. needs to sell 5, 000 units of wallet. O b. Clockmaker Ltd. would need to sell more than 3, 200 units of wallet to have positive profits. O c. Contribution per unit equals £46. O d. All the answers are true.
You Break It, We Fix-it Repair Shop has a monthly target profit of $18,900. Variable costs are 62% of sales, and monthly fixed costs are $7,500. (Note: 100% of Sales = Variable Costs + Contribution Margin). (Round your answers to two decimal places when needed and use rounded answers for all future calculations). 1. Compute the monthly margin of safety in dollars if the shop achieves its income goal. (Fixed Costs (Fixed Costs + + + + Expected sales - Target Profit) Target Profit) 1 1 Contribution Margin per ratio (%) Contribution Margin ratio (%) = = = = Required Sales in Dollars to Break-even Required Sales in Dollars to meet Target Profit Break-even sales = Margin of safety in dollars 2. Express what You Break It, We Fix-it Repair Shop margin of safety is as a percentage of target ales. Margin of safety in dollars/ Expected sales in dollars = Margin of safety ratio (%)
Gladstorm Enterprises sells a product for $50 per unit. The variable cost is $34 per unit, while fixed costs are $14,560. Determine the following: Round your answers to the nearest whole number. a. Break-even point in sales units _________ units b. Break-even point in sales units if the selling price increased to $60 per unit __________ units
Sandy Bank, Incorporated, makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $560 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 760 canoes for $560 each. Prepare a contribution margin income statement for the company. 4. Calculate Sandy Bank's break-even point in units and in sales dollars. Sandy Bank sells its canoes for $560 each. 5. Suppose Sandy Bank wants to earn $72,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Sandy Bank sells its canoes for $560 each. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the following table. Note: Round your "Cost per Unit" answers to 2 decimal places. Number of Canoes Produced and Sold Total costs Variable Costs Fixed Costs Total Costs Cost per Unit Required 3 Required 4…
Riverside Incorporated makes one model of wooden canoe. Partial information for Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Unit contribution margin Contribution margin ratio Sales revenue Variable costs Contribution margin Fixed costs www Total costs Cost per unit Variable cost per unit $ 210.00 220.00 Fixed cost per unit) Total cost per unit $ 430.00 Riverside sells its canoes for $650 each. Next year Riverside expects to sell 1,000 canoes Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34 %) and all other answers to the nearest dollar amount. Net operating income Scenario 1 Raises Sales Price to $750 per Canoe 550 $ $ 115,500 198,000 $ 313,500 $ 210.00 360.00 $ 570.00 750 $ 157,500 198,000 $ 355,500 540.00…
Can i please get help withthis question? Dannica Corporation produces products that it sells for $40 each. Variable costs per unit are $25, and annual fixed costs are $360,000. Dannica desires to earn a profit of $150,000. Required Use the equation method to determine the break-even point in units and dollars. Determine the sales volume in units and dollars required to earn the desired profit.
Frazier Company sells women's ski jackets. Each jacket sells for $250 and total variable costs per jacket are $100. Frazier Company's fixed costs per unit are $10 at an annual sales level of 10,000 units. What is Frazier's contribution margin percentage and what will be the increase in Frazier's operating income if it increases it sales by $1,000,000? a. 60%; and $500,000 b. 60%; and $600,000 c. 40%; and $400,000 d. 56%; and $440,000

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