Prepare a budgeted income statement using the information shown. Sales (units) Sales price per unit Uncollectible expense Direct material per unit Direct labor per unit (hours) Direct labor rate per hour Manufacturing overhead Variable sales and administration expenses per unit Fixed sales and administration expenses 15,000 2$ 40 1%* 24 2 0.5 20 $15,000 $ $20,000 15%** 24 2 Taxes *of sales **of income before taxes

Prepare a budgeted income statement using the information shown. Sales (units) Sales price per unit Uncollectible expense Direct material per unit Direct labor per unit (hours) Direct labor rate per hour Manufacturing overhead Variable sales and administration expenses per unit Fixed sales and administration expenses 15,000 2$ 40 1%* 24 2 0.5 20 $15,000 $ $20,000 15%** 24 2 Taxes *of sales **of income before taxes

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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Q.1.2 RiverMax (Pty) Ltd produces three items, X, Y and Z, which it supplies to the local stores. The table below indicates the budgeted information for 2023: X Y Z Sales (units) 35 000 34 000 48 000 Selling price per unit R17 R26 R23 Variable cost per unit R11 R18 R12 Annual fixed cost R250 000 R310 000 R360 000 Required: Calculate the aggregate break-even units and sales for RiverMax (Pty) Ltd. Round off your answers to the nearest whole number.
Current Attempt in Progress The following data relate to a year's budgeted activity for Blossom Limited, a company that manufactures one product: Beginning inventory Production Available for sale Sales Ending inventory Units 41,360 144,760 (a) 186,120 134,420 Selling price Variable manufacturing costs Variable selling, general, and administrative expenses Fixed manufacturing costs (based on 100,000 units) Fixed selling, general, and administrative expenses (based on 100,000 units) (b) 51,700 Total fixed costs and expenses remain unchanged within the relevant range of 25,000 units to a total capacity of 160,000 units. Calculate the projected net income for the year under variable costing. Per unit $8.00 Projected net income $ 3.00 3.00 0.55 0.85
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! Required information [The following information applies to the questions displayed below.] The fixed budget for 21,300 units of production shows sales of $617,700; variable costs of $63,900; and fixed costs of $143,000. If the company actually produces and sells 26,800 units, calculate the flexible budget income Sales Variable costs Contribution margin Fixed costs Income ------Flexible Budget------ Variable Amount per Unit $ 0 ▶▶▶ Total Fixed Cost 21,300 units $ ------Flexible Budget at $ 0 0 26,800 units $ $ 0 0
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Break-Even in Sales Revenue, Variable-Costing Ratio, Contribution Margin Ratio, Margin of Safety Hammond Company runs a driving range and golf shop. The budgeted income statement for the coming year is as follows. Sales $1,240,000 Less: Variable expenses 706,800 Contribution margin $533,200 Less: Fixed expenses 425,000 Income before taxes $108,200 Less: Income taxes 43,280 Net income $64,920 Required: 1. What is Hammond’s variable cost ratio? Enter your answer as a decimal value rounded to two decimal places. What is the contribution margin ratio? Enter your answer as a decimal value rounded to two decimal places. (Express as a decimal-based amount rather than a whole percent.) 2. Suppose Hammond’s actual revenues are $200,000 greater than budgeted. By how much will before-tax profits increase? Calculate the answer without preparing a new income statement.$ 3. How much sales revenue must Hammond earn in order to break even? Round your answer to the…
6. Bloomsbury plc sells one product for which data for a budgeted period are given below: Selling price per unit Variable cost per unit Fixed cost per unit 80 48 16 Fixed costs are based on a budgeted level of activity of 5,000 units. Calculate the total costs of production of 5,000 units: A. £80,000 B. £240,000 C. £320,000 D. £400,000.
Reflector Glass Company prepared the following static budget for the year: Static Budget Units/Volume Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income/(Loss) 5,000 Per Unit $3 $15,000 1.5 7,500 7,500 3,000 $4,500 If a flexible budget is prepared at a volume of 8,500 units, calculate the amount of operating income. The production level is within the relevant range. OA. $9,750 B. $12,750 OC. $3,000 OD. $4,500
7.
Please complete a and b
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