Need complete and correct answer for all parts clearly with all workings and steps in text form please show calculation, formula and explanation clearly for all steps for all parts answer in text form attempt if you can answer all otherwise just skip Mohsin owns a store downtown Kingston selling the World's Greats Coffee Cup. You are hisaccountant and below is his income statement for the past year.World Greatest Coffee Cup CompanyKingston StoreFor the Year Ended June 30, 2023Sales:AdvertisingComputers and ITHydro and UtilitiesInsuranceManager WagesMerchandisepurchaseMisc.RentDirect wagesTotal ExpensesProfit (Loss)$Moshin's questions to you are:.339,546●15,9852,5653,15212,98545,985He wants to understand what he needs to do to improve the business to start making profit.Through conversation you also learn the following information about the business.225,9509,85624,00035,956376,434• The volume was 13,600 coffee cups.• The store is open 5 days a week Tuesday to Saturday all year long.(36,888)How much does he need to sell just to break even in both sales and units?How much does the store needs to sell each day if he wants to make a $50,000 profitnext year?He is not sure he can increase his sales volume any more than this year. What price percup would he have to charge to make $50,000 profit next year?

Break-Even Point (BEP) is the level of sales or revenue at which total costs equal total revenue. At…

Sales Advertising Computers and IT Hydro and Utilities Insurance Manager Wages Merchandise purchase Misc. Rent Direct wages Total Expenses Profit (Loss) . . $ . 339,546 . 15,985 He wants to understand what he needs to do to improve the business to start making profit. Through conversation you also learn the following information about the business. 2,565 3,152 12,985 45,985 225,950 9,856 24,000 35,956 376,434 (36,888) Moshin's questions to you are: How much does he need to sell just to break even in both sales and units? How much does the store needs to sell each day if he wants to make a $50,000 profit next year? He is not sure he can increase his sales volume any more than this year. What price per cup would he have to charge to make $50,000 profit next year? The volume was 13,600 coffee cups. The store is open 5 days a week Tuesday to Saturday all year long.

Sales Advertising Computers and IT Hydro and Utilities Insurance Manager Wages Merchandise purchase Misc. Rent Direct wages Total Expenses Profit (Loss) . . $ . 339,546 . 15,985 He wants to understand what he needs to do to improve the business to start making profit. Through conversation you also learn the following information about the business. 2,565 3,152 12,985 45,985 225,950 9,856 24,000 35,956 376,434 (36,888) Moshin's questions to you are: How much does he need to sell just to break even in both sales and units? How much does the store needs to sell each day if he wants to make a $50,000 profit next year? He is not sure he can increase his sales volume any more than this year. What price per cup would he have to charge to make $50,000 profit next year? The volume was 13,600 coffee cups. The store is open 5 days a week Tuesday to Saturday all year long.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter20: Corporations And Partnerships

Section: Chapter Questions

Problem 27CE

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