Required information [The following information applies to the questions displayed below.] UR Safe Systems installs home security systems. Two of its systems, the ICU 100 and the ICU 900, have these characteristics: Design Specifications Video cameras Video monitors Motion detectors Floodlights Alarms Wiring Installation ICU 100 1 2 3 4 5 630 feet 11 hour ICU 900 4 3 1 2 6 Cost Data $ 112/ea $ 24/ea $ 16/ea $ 8/ea $ 13/ea $ 0.3/feet $ 12/hour 1,030 feet 11 hour The ICU 100 sells for $880 installed, and the ICU 900 sells for $1,590 installed. Required: 1. What are the current gross profit margin percentages on both systems? 2. UR Safe's management believes that it must drop the price on the ICU 100 to $820 and on the ICU 900 to $1,460 to remain competitive in the market. Recalculate gross profit margin percentages for both products at these price levels and then compute the target cost needed for each product to maintain the current gross profit margin percentages.

Required information [The following information applies to the questions displayed below.] UR Safe Systems installs home security systems. Two of its systems, the ICU 100 and the ICU 900, have these characteristics: Design Specifications Video cameras Video monitors Motion detectors Floodlights Alarms Wiring Installation ICU 100 1 2 3 4 5 630 feet 11 hour ICU 900 4 3 1 2 6 Cost Data $ 112/ea $ 24/ea $ 16/ea $ 8/ea $ 13/ea $ 0.3/feet $ 12/hour 1,030 feet 11 hour The ICU 100 sells for $880 installed, and the ICU 900 sells for $1,590 installed. Required: 1. What are the current gross profit margin percentages on both systems? 2. UR Safe's management believes that it must drop the price on the ICU 100 to $820 and on the ICU 900 to $1,460 to remain competitive in the market. Recalculate gross profit margin percentages for both products at these price levels and then compute the target cost needed for each product to maintain the current gross profit margin percentages.

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

E-LIBRARY ZAIN HANDBOOKS Steven places an order to Peter or the supply of a certain product that was not yet manufactured. On receipt of the order, Peter goes to the market and purchase all the raw material required, hired some employees to get the things done, and successfully completed the order and delivered the goods to Steven. Now here the question arises that the sale is presumed to be recorded at the time of which event? O a. Purchase of raw material O b. Delivery of good O C. Receipt of good O d. Production of goods Finish POCOPHONE 10:4 SHOT ON POCOPHONE F1 11/
Fast Wire Incorporated manufactures a scrambling device for cellular phones. The main component of the scrambling device is a very delicate part—DTV-12. DTV-12 requires careful handlings during manufacturing. Once damaged, the part must be discarded. Only skilled laborers are hired to manufacture and install DTV-12. Damages still occur, however. The following are the operating data of Fast Wire Incorporated for 2021 and 2022 relative to the insertion of DTV-12. 2021 2022 Number of phones manufactured 600,000 780,000 Units of DTV-12 used 960,000 1,072,500 Direct labor hours for DTV-12 insertion 1,800 2,600 Total cost of DTV-12 units $ 1,443,750 $ 2,333,750 Direct labor wage rate per hour $ 67 $ 82 The partial operational productivity ratio of DTV-12 in 2022 is: Multiple Choice 0.63 per unit. 0.73 per unit. 1.92 per unit. 3.00 per unit. 3.33 per unit.
Wincome statement projections ert Design Layout References Mailings Review View Times New R.. 11 - A- A- AaBbCcDdEe AaBbCcDdEe AaBbCcD B U - abe X, x2 A - O A Normal No Spacing Heading 1 To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Company Dhas the following information: Revenue Cost of Goods Sold- Gross Profit- Total operating costs- Operating Income- -150,000,000 -81,825,000 -68,175,000 47,625,000 -20,550,000 Interest Income-- -290,000 -800,000 Interest Expense- Pre-Tax income-- Таx (21%)--- Net Income--- -20,040,000 --4,208,400 -15,831,600 Share outstanding-- Share outstanding for diluted -11,000,000 -12,200,000 Cash- A/R (avg collect Period-30 days) Inventory (Days Inv. Held = 40) Other- Total Current Asset- -11,917,808 --8,967,123 -5,000,000 PP&E--- Less Accumulated Depreciation- Net PP&E- -50,000,000 -10,000,000 -40,000,000 Total current liability 13,842,466 -21,842,466 Total Liabilities--- a. What is the cash amount? b. what is the…
Your company is evaluating two cloud-based secured data storage services. "Great Sky," the newer service, claims its uploading and downloading speeds are faster than the older service, "Clear and Steady Skies." You need to make a decision based on published access times for both services at different times and for varying file sizes. To make your decision, you purchase two statistical studies from which you discover the average download time for Great Sky is 0.67 sec. per MB and for Clear Steady Skies is 0.84. Additionally, the studies indicate the following sample information: NGS = 60 ncss = 50, SGS = 0.25 and scss = 0.55. Use a = .05, and the five step hypothesis testing procedure to make the appropriate decision.
Jessica’s client is expanding and needs to upgrade her version of QuickBooks Online. What steps will Jessica take to upgrade in QuickBooks Online Accountant? -Gear icon > Company Settings > Payments > Upgrade -Gear icon > Subscriptions and billing > Accountant-billed subscriptions > Select Action > Upgrade -Gear icon > Company Settings > Advanced > Upgrade -Gear icon > Subscriptions and billing > Billing details > Edit billing information
PERFORMANCE WATER PUMPS (CENTRALIZED SYSTEM WITH DISTRIBUTED TERMINALS) Performance Water Pumps (PWP) is a leading man- ufacturer of water pumps with high capacity capabil- ity. These pumps are used in both civil and private disaster situations. PWP's primary market is disaster recovery companies that assist home owners follow- ing basement flooding. They also sell to building contractors, municipalities, and rental companies. The company publishes an industry catalog of pumps and other auxiliary equipment, which it dis- tributes to customers and prospective customers. PWP's headquarters and manufacturing facilities are in Leesville, Louisiana where they employ 125 manufacturing and clerical staff. PWP employs a centralized computer system with distributed terminals in the departments. Recently they have been having operational problems with PWP has hired your auditing firm to assess its operations and internal control procedures. Purchasing System When an inventory item falls to…
Laboratory Exercise No. 18 Filename: Lab_exer18 A mobile phone store wants you to create a simple application. The program will start by asking the brand of the phone. The user will then enter 10 different prices of that phone for the past months. From the prices entered, be able to count the number of price that is more than 100. Determine also the average price of all the amount. Sample output: Enter price 1 120 Enter price 2 : 50 Enter price 3 75 Enter price 4 : 105 Enter price 5 35 Enter price 6 : Enter price 7 : Enter price 8 : 20 80 115 Enter price 9 : 50 Enter price 10 : 75 Number of prices that is more than 100 : 2 Average of all prices : 72.5
What does FASB believe is the best way to search GAAP? (RAB 10) Using Investopedia for a basic reference, then searching the rules Using the advanced search function within the ASC Attending trainings by FASB's experts Using the built in logic to move from ASC topic & subtopic to section & paragraph Which of the following organizations creates the rules provided in the ASC ? (RAB 9) FASB SEC IRS EITF
Task: Enter data as shown below and use the appropriate formulas Save the work as ThinkTech and upload on your enaz portal when done. Equipment Type BRAND Category Stock Sold Cost per unit Stock Balance Total Computer Dell PC 55 25 49000 Phone Infinix Mobile 15 9 16500 Computer Toshiba Laptop 30 20 63000 Phone iPhone Mobile 7 5 28400 Computer HP Laptop 12 7 45000 Computer Compaq PC 25 3 37500 Phone Nokia Mobile 45 14 12000 (a) Add a new row above the header row and title it "Think Technology Solutions". Merge, Center, and bold the title with a Red font color. (2M) (b) Reorganize the data in descending order by the category Column. (1M) (c) Calculate the number the stock balance for each type of equipment. (1M) (d) Insert a new column between stock balance and Total called Discount. Use the IF function to calculate the discount of PC at 21%, Laptops at 15% and mobiles at 5% per unit cost (5M) (e) Calculate the Total amount of money received after selling each equipment (Remember to…
Required information [The following information applies to the questions displayed below.] Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025. All watches are sold for $509 each. July 17 July 31 August 12 August 22 Purchased 59 watches for $9,381 ($159 per watch) on account. Sold 49 watches for $24,941 cash. Purchased 49 watches for $8,281 ($169 per watch) cash. Sold 39 watches for $19,851 on account. September 19…
Alexa is the popular virtual assistant developed by Amazon. Alexa interacts with users using artificial intelligence and voice recognition. It can be used to perform daily tasks such as making to-do lists, reporting the news and weather, and interacting with other smart devices in the home. In 2018, the Amazon Alexa app was downloaded some 2,800 times per day from the Google Play store (AppBrain website). Assume that the number of downloads per day of the Amazon Alexa app is normally distributed with a mean of 2,800 and standard deviation of 860. a. What is the probability there are 2,000 or fewer downloads of Amazon Alexa in a day (to 4 decimals)? b. What is the probability there are between 1,500 and 2,500 downloads of Amazon Alexa in a day (to 4 decimals)? c. What is the probability there are more than 3,000 downloads of Amazon Alexa in a day (to 4 decimals)? d. Assume that Google has designed its servers so there is probability 0.01 that the number of Amazon Alexa app downloads in…
Q24 Fast Wire Incorporated manufactures a scrambling device for cellular phones. The main component of the scrambling device is a very delicate part—DTV-12. DTV-12 requires careful handlings during manufacturing. Once damaged, the part must be discarded. Only skilled laborers are hired to manufacture and install DTV-12. Damages still occur, however. The following are the operating data of Fast Wire Incorporated for 2021 and 2022 relative to the insertion of DTV-12. 2021 2022 Number of phones manufactured 606,000 730,000 Units of DTV-12 used 960,300 1,000,000 Direct labor hours for DTV-12 insertion 1,850 2,655 Total cost of DTV-12 units $ 1,444,000 $ 2,334,000 Direct labor wage rate per hour $ 68.50 $ 84 The partial operational productivity ratio of DTV-12 in 2022 is: Multiple Choice 3.00 per unit. 0.73 per unit. 0.63 per unit. 3.33 per unit. 1.92 per unit.