Subject-Acounting AssetsCashAccounts receivableInventory.Plant and equipment, netInvestment in Tesla Inc.Land (undeveloped)Total assetsLiabilities and Stockholders' EquityAccounts payableLong-term debtStockholders' equityTotal liabilities and stockholders' equityJEY-1737 Inc.Income StatementSalesOperating expensesNet operating inconeInterest and taxes:Interest expenseTax expenseNet incomeO$ 314,280O$ 307,530O$ 327,030O $ 304,780JEY-1737 Inc.Balance Sheet$ 130,000195,000$4,656,0004,050,720605,280325,000$ 280,280BeginningBalance$ 136,000343,000580,000861,000391,000250,000$ 2,561,000$ 377,0001,038,0001,146,000$ 2,561,000Ending Balance$ 139,000474,000477,000870,000426,000250,000$ 2,636,000$ 334,0001,038,0001,264,000$ 2,636,000JEY-1737 Inc. paid dividends of $162,280 last year. The "Investment in Tesla Inc." item on the balance sheet represents an investmentin the stock of another company. The company's minimum required rate of return is 15%What was the company's residual income last year? JSON-2819 Inc. produces Products X5, Y8, and 29. The following table provides per unit information relating to the three products:ProductYS$ 60.00Selling priceVariable expenses:Direct materialsother variable expensesTotal variable expensesContribution marginContribution margin ratio.X5$90.00O$ 33,000O$ 35,500O $12,600O $ 20,40027.0027.0054.00$36.0040%15.0030.0045.00$15.0025%29$ 80.009.0047.0056.00$24.0030%JSON-2819 has enough demand to sell 850 units of each product per month. Each product requires the same direct materials in itsproduction. The direct materials cost $3 per pound. The company will at most have 5,700 pounds of the direct materials availableevery month.What is the maximum contribution margin that JSON-2819 can earn per month using its 5,700 pounds of direct materials optimally?

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Selling price Variable expenses: Direct materials other variable expenses Total variable expenses Contribution margin. Contribution margin ratio X5 $90.00 O$ 33,000 O$ 35,500 O$ 12,600 O$ 20,400 27,00 27.00 54.00 $.36.00 40% Product YB $ 60.00 15.00 30.00 45.00 $ 15.00 25% 29 $ 80.00 9.00 47.00 56.00 $ 24.00 30% JSON-2819 has enough demand to sell 850 units of each product per month. Each product requires the same direct materials in its production. The direct materials cost $3 per pound. The company will at most have 5,700 pounds of the direct materials available every month. What is the maximum contribution margin that JSON-2819 can earn per month using its 5,700 pounds of direct materials optimally?

Selling price Variable expenses: Direct materials other variable expenses Total variable expenses Contribution margin. Contribution margin ratio X5 $90.00 O$ 33,000 O$ 35,500 O$ 12,600 O$ 20,400 27,00 27.00 54.00 $.36.00 40% Product YB $ 60.00 15.00 30.00 45.00 $ 15.00 25% 29 $ 80.00 9.00 47.00 56.00 $ 24.00 30% JSON-2819 has enough demand to sell 850 units of each product per month. Each product requires the same direct materials in its production. The direct materials cost $3 per pound. The company will at most have 5,700 pounds of the direct materials available every month. What is the maximum contribution margin that JSON-2819 can earn per month using its 5,700 pounds of direct materials optimally?

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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