Grixdale Tax Services prepares taxes for individuals. Grixdale offers a simplified pricingmodel with two alternatives for taxpayers: Standard Deduction (Standard) or ItemizedDeductions (Itemized). Price and variable costs for the two services are listed below.Standard Itemized Sales price (per return) $ 180.00 $ 510.00 Variable costs (per return) 140.00 290.00 The annual fixed costs at Grixdale are $490,000. Based on experience, theowner estimates that Standard Deduction returns represent 25 percent of the the firm'sbusiness. Required: How many Standard Deduction and Itemized Deduction returns mustbe filed annually to break even?

Breakeven point is where the fixed cost equals the contribution margin. When there are two or more…

Answered: ons (Itemized). Price and variable…

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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2. Determine the breakeven sales in units of Caroline Inc. using the following data:
Contribution Margin Ratio, Variable Cost Ratio, Break-Even Sales Revenue The controller of Ashton Company prepared the following projected income statement: Sales $88,000 Total variable cost 23,760 Contribution margin $64,240 Total fixed cost 43,800 Operating income $20,440 Required: 1. Calculate the contribution margin ratio. Note: Enter as a percent, rounded to the nearest whole number. fill in the blank 1 % 2. Calculate the variable cost ratio. Note: Enter as a percent, rounded to the nearest whole number.fill in the blank 2 % 3. Calculate the break-even sales revenue for Ashton. Note: Round your answer to the nearest dollar. $fill in the blank 3 4. How could Ashton increase projected operating income without increasing the total sales revenue? Decrease the contribution margin ratio
Please help me with show all calculation thanku
Compute the contribution margin ratio and fixed costs using the following data. Sales $4,600 Variable costs $ 2,944 Income $ 540 Less: Sales Variable cost Contribution margin Numerator: Fixed Cost 1 Contribution Margin $ Contribution Margin Ratio Denominator: 1 4,600 2,944 = Contribution Margin Ratio Contribution margin ratio 0
Determine the missing amounts. 1. 2. 3. $ Unit Selling Price $800 $350 (e) $ $ Unit Variable Costs $336 (c) (f) $ Unit Contribution Margin $147 $800 (a) Contribution Margin Ratio % (b) % (d) 40 %
Kk.1. Subject :- Accounting Assume the following (1) selling price per unit = $30, (2) variable expense per unit = $18, and (3) total fixed expenses = $55,200. Given these three assumptions, the unit sales needed to achieve a target profit of $12,000 is: Multiple Choice 5,600 units. 17,600 units. 84,800 units. 67,200 units.
A company has following details for this yearDetails Total sales($) Total cost($) Details Total sales($) Total cost($)Year ended 31/12/2018 35,78,998 25,89,709Year ended 31/12/2019 48,90,742 31,67,984 Calculate P/V ratio, Fixed cost, break even sales, Margin of safety 2018/2019, Variable cost 2018/2019and percent of fixed cost 2018/2019
Determine the missing amounts. Unit Selling Price 1. 2. 3. $ $500 $250 (e) LA $ LA Unit Variable Costs $200 (c) +A $ Unit Contribution Margin $65 (f) $560 (a) Cc M
Based on analyzing the production.cost (Y) to units produced (X), the following relationship was found Y= S5000 - 520X The $5.000 in the equarion represents Select one Oa. Varlable production.costs per unit. లీ D- 78ed Drodocs on ఉంక ఏ01 Ur 2 ENone.of the anawers given d. Total variable production costs. Oe.Total fixed production costs
a. Total fixed cost is $1.440,000 and a unit of product is sold for $12 in excess of its unit variable cost. What is the break-even in units?
Sales are 250000 OMR, variable cost = 120000 OMR, Fixed cost 90000 calculate BEP sales a. 176076.9 OMR b. 175076.9 OMR c. 173076.9 OMR d. 174076.9 OMR
Consider the following information: Retail price per unit: Wholesale price per unit: Manufacturer's price per unit: Manufacturer's variable cost: Retailer's fixed costs per quarter: Wholesaler's fixed costs per quarter: Manufacturer's fixed costs per quarter: Retailer's unit sales this quarter: Wholesaler's unit sales this quarter: Manufacturer's unit sales this quarter: $150 O $90.91 O $111.12 O $72.50 O $145.46 $80 $50 $35 $75,000 $1,750,000 $2,500,000 1,800 80,000 160,000 If the wholesaler wants his margin to be 45%, but doesn't believe he can convince the manufacturer to lower her price below $50, what price does the wholesaler need to charge the retailer? O Search

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ons (Itemized). Price and variable costs for the d Itemized Sales price (per return) $ 180.00 $ 290.00 The annual fixed costs at Grixdale are