Sooner industries charges a price of solve this question answer general Accounting Sooner Industries charges a price of $111 and has afixed cost of $414,000. Next year, Sooner expects tosell 16,600 units and make an operating income of$153,000.What is the contribution margin ratio? Express thecontribution margin ratio as a percentage, roundedto two decimal places.

Calculation of Contribution Margin per unitContribution Margin per unit = ( Fixed Cost + Operating…

Answered: Sooner Industries charges a price of…

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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Harris Company manufactures and sells a single product. A partially completed schedule of the company's total costs and costs per unit over the relevant range of 65,000 to 105,000 units is given below: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. 2. Assume that the company produces and sells 95,000 units during the year at a selling price of $9.36 per unit. Prepare a contribution format income statement for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the schedule of the company's total costs and costs per unit as given in the relevant tab below. (Round the per unit variable cost and fixed cost to 2 decimal places.) Total cost Variable cost Fixed cost Total cost Cost per unit: Variable cost Fixed cost Total cost per unit $ $ $ 65,000 Units Produced and Sold 85,000 214,500 430,000 644,500 $ 0.00 $ 43,000 43,000 $ 0.00 $ 105,000 43,000 43,000 0.00
In 2023, Dolan Distributors had sales of $914,000, fixed costs of $139,200, variable costs of $514,800, and operating income of $260,000. What is Dolan's contribution margin ratio ? 56.3% 50.5% 27.9% 77.6% 43.7%
Sosa Company has $39 per unit in variable costs and $1,900,000 per year in fixed costs. Demand is estimated to be 138,000 units annually. What is the price if a markup of 35% on total cost is used to determine the price? Round to two decimal places
2. Sooner Industries charges a price of $82 and has fixed cost of $325,000. Next year, Sooner expects to sell 14,800 units and make operating income of $187,000. What is the variable cost per unit? What is the contribution margin ratio? Note: Round your variable cost per unit answer to the nearest cent. Enter the contribution margin ratio as a percentage, rounded to two decimal places. Line Item Description Answer Variable cost per unit $fill in the blank 2 per unit Contribution margin ratio fill in the blank 3 %
The following annual information is for Dexter Corporation: Product A Revenue per unit: $20.00 Variable cost per unit: $15.00 Total fixed costs: $100,000 How many units does the company have to sell to achieve an after tax income of $75,000 if the income tax rate is 25%?
A company sells its product at P18 per unit. Variable costs are P12 per unit and fixed costs are 150,000 per annum. The company wants to realize a profit of P60,000 during the year. What should be the sales revenue?
Summer Company sells a product with a contribution margin ratio of 54%. Fixed costs per month are $630. What amount of sales (in dollars) must Summer Company have to earn an operating of $6,400? If each unit sells for $25.00, how many units must be sold to achieve the desired operating income?(Round your answers to two decimal places when needed and use rounded answers for all future calculations and write unit answers in whole units when needed.)
McGrath electric is a service firm with current service sales of 4,794,549 and a 57% contribution margin. It’s fixed costs are 1,217,297. If there is a 13% in sales, compute the percentage of net increase in operating income for McGrath. Round to the nearest hundred, two decimals.
Binford Corporation's contribution margin ratio is 58%, and its fixed monthly expenses are $94,000. Assume that the company's sales for May are expected to be $178,000.Required: Estimate the company's net operating income for May, assuming that the fixed monthly expenses do not change. There is not a word length requirement for this question; however, you must show your work.
For its most recent fiscal year, a firm reported that its contribution margin was equal to 60 percent of sales and that its net income amounted to 10 percent of sales. If its fixed costs for the year were P60,000, how much was the margin of safety?
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Spectrum Corp. makes two products: C and D. The following data have been summarized: (Click the icon to view the data.) Spectrum Corp. desires a 25% target gross profit after covering all product costs. Considering the total product costs assigned to the Products C and D, what would Spectrum have to charge the customer to achieve that gross profit? Round to two decimal places. Begin by selecting the formula to compute the amount that the company should charge for each product. Required sales price per unit Data table Direct materials cost per unit Direct labor cost per unit Indirect manufacturing cost per unit Total costs assigned Print $ $ Product C 600.00 $ 300.00 270.00 1,170.00 S Done - X Product D 2,400.00 200.00 604.00 3,204.00

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Sooner Industries charges a price of $111 and has a fixed cost of $414,000. Next year, Sooner expects to sell 16,600 units and make an operating income of $153,000. What is the contribution margin ratio? Express the contribution margin ratio as a percentage, rounded to two decimal places.