Summit Manufacturing has annual fixed costs totaling $140,000 and variable costs of $4 per unit. Each unit of the product is sold for $18. The company expects to sell 15,000 units this year. How many units must be sold to earn an annual profit of $60,000?
Q: !!???
A: The Price-Earnings (P/E) Ratio is calculated using the formula: P/E=Earnings per Share (EPS)Market…
Q: What is the value of retained earnings on july
A: Concept of Retained EarningsRetained earnings represent the portion of a company's net income that…
Q: Hello tutor please provide this question solution general accounting
A: The Degree of Operating Leverage (DOL) is calculated using the formula: DOL = Contribution Margin /…
Q: How many units were completed during the period?
A: To determine how many units were completed during January, we need to calculate the total units that…
Q: An asset's book value is $19,000 on December 31, Year 5. The asset has been depreciated at an annual…
A: Gain/(Loss) on sale = Proceeds from sale of asset - Asset's book valueGain/(Loss) on sale = 16,000 -…
Q: Provide correct answer
A: The loss on disposal will be reported on the income statement after considering the tax effect. The…
Q: What is the value stockholders's equity after the investment
A: Concept of Stockholders' EquityStockholders' equity represents the residual interest in a company's…
Q: Can you please solve this financial accounting issue?
A: Step 1: Definition of GoodwillGoodwill is an intangible asset that arises when a company acquires…
Q: Financial Accounting
A: Step 1: Introduction to depreciationDepreciation is referred to a method of expensing the cost of a…
Q: Get correct solution this accounting question
A: Step 1: Define High-Low MethodThe High-Low Method is a cost estimation technique used in managerial…
Q: accounting question answer
A: Step 1: Definition of P/E Ratio (Price-to-Earnings Ratio)The Price-to-Earnings (P/E) Ratio is a…
Q: Deacon Corporation has provided the following financial data from its balance sheet and income…
A: To calculate the debt-to-equity ratio, we use the following formula: Debt-to-Equity Ratio = Total…
Q: products: X and Y. The company uses direct labor hours to allocate overhead costs. • Product X…
A: Step 1: Definition of Overhead AllocationOverhead allocation is the process of assigning indirect…
Q: general account
A: Step 1: Understanding the ROA FormulaReturn on Assets (**ROA**) is calculated as:ROA=Average Total…
Q: Sub. financial account
A: The total materials variance measures the difference between the standard cost of materials for…
Q: Davidson Corp., which began business at the start of the current year, had the following data: .…
A: Step 1: Definition of Gross MarginGross margin is the difference between sales revenue and the cost…
Q: Answer? ? Financial accounting question
A: Step 1: Define Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL) is a…
Q: Answer? Financial accounting question
A: Step 1: Define Price-Earnings (P/E) RatioThe price-earnings (P/E) ratio is a valuation metric that…
Q: Financial Accounting
A: Step 1: Define Outstanding SharesOutstanding shares refer to the total number of shares of a…
Q: What was Bright Growth Fund's turnover of this financial accounting question?
A: Given Data:Average Daily Total Assets = $120 millionStock Purchases = $25 million (not needed for…
Q: Beginning inventory: 950600, ending inventory: 420700
A: Step 1: Information givenBeginning inventory = $950,600Purchases = $825,900Ending inventory =…
Q: ANSWER?
A: Concept of Budgeted CostsBudgeted Costs refer to the estimated expenses that a company plans to…
Q: Affordable Furniture makes sofas, loveseats, and recliners. The company allocates manufacturing…
A:
Q: Summit Manufacturing produces a product that requires 8.5 standard hours per unit at a standard…
A: Step 1: Definition of Direct Labor Variances1. Direct Labor Rate Variance (DLRV)Direct labor rate…
Q: Q15. Robinson Manufacturing discovered the following information in its accounting records: $519,800…
A: The total manufacturing costs is the sum of direct materials used, direct labor, and manufacturing…
Q: Financial account
A: Concept of Manufacturing OverheadThe Manufacturing Overhead refers to all the indirect costs…
Q: I need ans financial accounting question
A: Step 1: Define Ending Retained EarningsEnding Retained Earnings represent the accumulated profits of…
Q: Frick Company uses a job order cost system and applies overhead based on estimated rates. The…
A: To determine the correct answer, follow these steps: Calculate the Overhead Application Rate:The…
Q: Please help me
A: Step 1: Calculate Total ReturnTotal return is the percentage gain from both dividends and price…
Q: ??
A: Step 1: DefinitionsOperating Leverage - Operating leverage is a financial ratio that measures a…
Q: Azure Manufacturing wishes to evaluate its cash conversion cycle (CCC). Research by one of the…
A: The Cash Conversion Cycle (CCC) is a metric that calculates how long it takes for a company to…
Q: Hiii, tutor give answer
A: Let's go through the calculations again in a clear and structured way.Given Data:Initial Purchase…
Q: Tutor give me ans
A: If there is an increase in the inventory during the period, this means that less inventory is sold…
Q: not use ai please don't
A: The probability of a randomly selected student getting less than 1% marks is 0.0108, which means a…
Q: What is the firm's sustainable growth rate
A: To calculate the sustainable growth rate (SGR), we use the following formula: SGR = ROE ×…
Q: Please help me with the last entry. The dropdown options are the revenue accounts i can use
A: These journal entries ensure that Sandhill, Inc. properly recognizes revenue, expenses, and cash…
Q: Can you please solve this financial accounting question?
A: Step 1: Define Equivalent Units of Production (EUP) for Conversion CostsEquivalent Units of…
Q: GeM Industries' common stock is currently selling for $72.15 per share. Last year, the company paid…
A: To determine the expected rate of return on the stock, we use the Gordon Growth Model (Dividend…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a financial ratio that…
Q: The following financial data is available for Summit Corp. for the year 2022: Net Income (2022):…
A: Here's the breakdown:Average Total Assets:We'll use the total assets at the beginning of 2022 (which…
Q: Sanjay would like to organize HOS (a business entity) as either an S corporation or as a corporation…
A: Scenario 1: HOS as a C CorporationStep 1: Calculate Before-Tax IncomeHOS generates a 16% return on a…
Q: What was cowl's rate of return on assets for 2007?
A: To determine Cowl, Inc.'s rate of return on assets (ROA) for 2007, follow these steps: Step 1:…
Q: cost accounting
A: Step 1: Definition of Incremental Pricing for Special OrdersIncremental pricing is a decision-making…
Q: Using the following balance sheet and income statement data, what is the total amount of working…
A: Working capital is a financial metric which represents operating liquidity available to a business.…
Q: Given the solution and accounting
A: Step 1: Definition of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) refers to…
Q: Give me solution with step by step calculation
A: Step 1: Definition of Expense Allocation Based on Square FootageWhen allocating maintenance…
Q: The records of Tillman Corporation's initial and unaudited accounts show the following ending…
A: The production cost report for Tillman Corporation using the weighted-average method is prepared by…
Q: subject : financial accounting
A: Step 1: Define Return on Investment (ROI)Return on Investment (ROI) measures the efficiency of an…
Q: subject ?? : General accounting question
A: The Degree of Operating Leverage (DOL) is a financial ratio that tells us how sensitive a company's…
Q: chose best answer
A: SolutionThe investment turnover is calculated using the formula:Investment Turnover = Sales /…


Step by step
Solved in 2 steps

- Kerr Manufacturing sells a single product with a selling price of $600 with variable costs per unit of $360. The companys monthly fixed expenses are $72,000. What is the companys break-even point in units? What is the companys break-even point in dollars? Prepare a contribution margin income statement for the month of January when they will sell 500 units. How many units will Kerr need to sell in order to realize a target profit of $120,000? What dollar sales will Kerr need to generate in order to realize a target profit of $120,000? Construct a contribution margin income statement for the month of June that reflects $600,000 in sales revenue for Kerr Manufacturing.Maple Enterprises sells a single product with a selling price of $75 and variable costs per unit of $30. The companys monthly fixed expenses are $22,500. What is the companys break-even point in units? What is the companys break-even point in dollars? Construct a contribution margin income statement for the month of September when they will sell 900 units. How many units will Maple need to sell in order to reach a target profit of $45,000? What dollar sales will Maple need in order to reach a target profit of $45,000? Construct a contribution margin income statement for Maple that reflects $150,000 in sales volume.Marlin Motors sells a single product with a selling price of $400 with variable costs per unit of $160. The companys monthly fixed expenses are $36,000. What is the companys break-even point in units? What is the companys break-even point in dollars? Prepare a contribution margin income statement for the month of November when they will sell 130 units. How many units will Marlin need to sell in order to realize a target profit of $48,000? What dollar sales will Marlin need to generate in order to realize a target profit of $48.000? Construct a contribution margin income statement for the month of February that reflects $200,000 in sales revenue for Marlin Motors.
- Faldo Company produces a single product. The projected income statement for the coming year, based on sales of 200,000 units, is as follows: Required: 1. Compute the unit contribution margin and the units that must be sold to break even. Suppose that 30,000 units are sold above the break-even point. What is the profit? 2. Compute the contribution margin ratio and the break-even point in dollars. Suppose that revenues are 200,000 greater than expected. What would the total profit be? 3. Compute the margin of safety in sales revenue. 4. Compute the operating leverage. Compute the new profit level if sales are 20 percent higher than expected. 5. How many units must be sold to earn a profit equal to 10 percent of sales? 6. Assume the income tax rate is 40 percent. How many units must be sold to earn an after-tax profit of 180,000?Schylar Pharmaceuticals, Inc., plans to sell 130,000 units of antibiotic at an average price of 22 each in the coming year. Total variable costs equal 1,086,800. Total fixed costs equal 8,000,000. (Round all ratios to four significant digits, and round all dollar amounts to the nearest dollar.) Required: 1. What is the contribution margin per unit? What is the contribution margin ratio? 2. Calculate the sales revenue needed to break even. 3. Calculate the sales revenue needed to achieve a target profit of 245,000. 4. What if the average price per unit increased to 23.50? Recalculate: a. Contribution margin per unit b. Contribution margin ratio (rounded to four decimal places) c. Sales revenue needed to break even d. Sales revenue needed to achieve a target profit of 245,000Company A wants to earn $5,000 profit in the month of January. If their fixed costs are $10,000 and their product has a per-unit contribution margin of $250, how many units must they sell to reach their target income? A.20 B. 40 C. 60 D. 120
- Olivian Company wants to earn 420,000 in net (after-tax) income next year. Its product is priced at 275 per unit. Product costs include: Variable selling expense is 14 per unit; fixed selling and administrative expense totals 290,000. Olivian has a tax rate of 40 percent. Required: 1. Calculate the before-tax profit needed to achieve an after-tax target of 420,000. 2. Calculate the number of units that will yield operating income calculated in Requirement 1 above. (Round to the nearest unit.) 3. Prepare an income statement for Olivian Company for the coming year based on the number of units computed in Requirement 2. 4. What if Olivian had a 35 percent tax rate? Would the units sold to reach a 420,000 target net income be higher or lower than the units calculated in Requirement 3? Calculate the number of units needed at the new tax rate. (Round dollar amounts to the nearest dollar and unit amounts to the nearest unit.)Delta Co. sells a product for $150 per unit. The variable cost per unit is $90 and fixed costs are $15,250. Delta Co.s tax rate is 36% and the company wants to earn $44,000 after taxes. What would be Deltas desired pre-tax income? What would be break-even point in units to reach the income goal of $44,000 after taxes? What would be break-even point in sales dollars to reach the income goal of $44000 after taxes? Create a contribution margin income statement to show that the break-even point calculated in B, generates the desired after-tax income.If a company has fixed costs of $6.000 per month and their product that sells for $200 has a contribution margin ratio of 30%, how many units must they sell in order to break even? A. 100 B. 180 C. 200 D. 2,000
- Dimitri Designs has capacity to produce 30,000 desk chairs per year and is currently selling all 30,000 for $240 each. Country Enterprises has approached Dimitri to buy 800 chairs for $210 each. Dimitris normal variable cost is $165 per chair, including $50 per unit in direct labor per chair. Dimitri can produce the special order on an overtime shift, which means that direct labor would be paid overtime at 150% of the normal pay rate. The annual fixed costs will be unaffected by the special order and the contract will not disrupt any of Dimitris other operations. What will be the impact on profits of accepting the order?Markson and Sons leases a copy machine with terms that include a fixed fee each month plus acharge for each copy made. Markson made 9,000 copies and paid a total of $480 in January. In April, they paid $320 for 5,000 copies. What is the variable cost per copy if Markson uses the high-low method to analyze costs?Klamath Company produces a single product. The projected income statement for the coming year is as follows: Required: 1. Compute the unit contribution margin and the units that must be sold to break even. 2. Suppose 10,000 units are sold above break-even. What is the operating income? 3. Compute the contribution margin ratio. Use the contribution margin ratio to compute the break-even point in sales revenue. (Note: Round the contribution margin ratio to four decimal places, and round the sales revenue to the nearest dollar.) Suppose that revenues are 200,000 more than expected for the coming year. What would the total operating income be?





