Summit Manufacturing has fixed costs of $3,250,000. Their product sells for $25 per unit with variable costs of $15 per unit. If Summit wants to achieve a target net income of $900,000, how many units must they sell?
Q: Financial Accounting
A: Concept of Accrual AccountingAccrual accounting is a method of recording financial transactions when…
Q: Provide correct answer this general accounting question
A: The overhead rate based on direct labor hours is calculated as follows: Overhead rate = Total…
Q: Armstrong Manufacturing has an overhead application rate of 145% and allocates overhead based on…
A: Explanation of Overhead Applied:Overhead Applied refers to the estimated amount of indirect costs…
Q: Give this question general accounting
A: Step 1: Definition of Variance AnalysisVariance analysis involves comparing actual costs to standard…
Q: What is the acquired cost of the equipment on July 1 ?
A: Step 1: Definition of Acquired CostThe acquired cost of an asset is the total amount spent by a…
Q: Congratulations margin per unit?
A: Step 1: Definition of Contribution MarginThe contribution margin is the amount remaining after…
Q: Need help this question general accounting
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is the estimated…
Q: Burner, Incorporated has sales of 1,250,000, costs of 620,000, depreciation expenses of 85,000, and…
A: Step 1: Calculation of earnings before taxEarnings before tax = Sales - Costs - Interest expenses -…
Q: Hima company has a debt-equity ratio of
A: (a) Equity Multiplier (EM)The equity multiplier is given by:Equity Multiplier=1+Debt/EquitySince the…
Q: Luras business hasa net loss of
A: Income/(Loss) = Revenue - ExpensesIncome/(Loss) = Revenue - Depreciation on car - Operating expenses…
Q: What is the pension expense for 2023?
A: Computation of Interest CostInterest Cost = Beginning PBO × Settlement Rate…
Q: Calculate the sales revenue
A: Step 1: Definition of Target Profit and Sales RevenueTarget profit is the expected profit a business…
Q: Provide correct answer this financial accounting question
A: The total cash disbursement in October is calculated as follows: Total cash disbursement = (October…
Q: Crestwood Industries mixes together sugarcane residue and ethanol. After joint manufacturing costs…
A: Explanation of Net Increase (Decrease) in Operating Income:Net increase (decrease) in operating…
Q: sub. general account
A: Step 1: Definition of Return on Equity (ROE)Return on equity (ROE) is a financial ratio that…
Q: Please give me true answer the financial accounting question
A: Step 1: Definition of Cash Conversion Cycle (CCC)The Cash Conversion Cycle (CCC) measures how long a…
Q: What will be overhead rate per hour?
A: Explanation of Direct Materials: Direct materials, shown as $5,000, are raw materials that can be…
Q: Please provide answer this financial accounting question
A: Step 1: Define Expected Return on Common Stock After RefinancingWhen a company introduces debt into…
Q: Using the ACFR information for the City of Salem, indicate both financial statements that contained…
A: Approach to solving the question:To accurately answer your question, I need access to the Annual…
Q: Job 887 was recently completed
A: Concept of Direct MaterialsDirect materials are the raw materials that can be traced directly to a…
Q: A firm has inventory of $12,600, accounts payable of $11,900, cash of $990, net fixed assets of…
A: Concept of Total Assets:Total assets represent the overall resources owned by a company that provide…
Q: Costs would be
A: Concept of Factory Overhead Costs:Factory overhead costs, also known as manufacturing overhead,…
Q: Please solve this problem
A: Step 1: Define Sales ReturnOne of the deductions from the sales revenue is the sales return because…
Q: What is the direct materials price variance
A: Concept of Standard Price per PoundThe standard price per pound refers to the predetermined cost…
Q: general accounting
A: Step 1: Definition of Exchange ValueThe exchange value refers to the cost at which an asset is…
Q: What is the direct materials efficiency variance of this general accounting question?
A: Step 1: Formulas Direct materials efficiency variance = Standard price x (Actual quantity - Standard…
Q: A firm has net working capital of $980, net fixed assets of $4,418, sales of $9,250, and current…
A: 1. Calculate Total AssetsTotal assets = Net working capital + Net fixed assetsTotal assets = $980 +…
Q: Taylor Industries has a net income of $74.5 million and pays out $10.2 million in dividends. The…
A: To calculate the sustainable growth rate (SGR) for Taylor Industries, we use the following…
Q: can you please sole this
A: Step 1: Definition of Net IncomeNet income refers to the accounting profit earned after deducting…
Q: Can you help me with accounting questions
A: Step 1: Definition of Stockholders' EquityStockholders' equity represents the residual interest in a…
Q: Ans
A: Weighted Average Cost per Unit: A cost calculation method that divides the total cost of goods…
Q: What is company a's net income? Accounting question
A: Step 1: Definition of Net IncomeNet income is the final profit (or loss) a company reports after…
Q: If sales are $420,000, variable costs are 72% of sales, and operating income is $40,000, what is the…
A: Approach to solving the question:Freeform Detailed explanation: Operating leverage can be calculated…
Q: Need answer
A: Total Assets - Total Liabilities = $1,050 million - $610 million = $440 million ROE = Net Income /…
Q: At the beginning of the year
A: Concept of Factory OverheadFactory overhead, also known as manufacturing overhead, refers to all…
Q: Financial accounting question
A: Step 1: Define Earnings Per ShareThe earnings per share are used to evaluate whether the company has…
Q: managerial accounting
A: Step 1: Definition of Standard CostStandard cost is the estimated cost of production, including…
Q: Parker Industries applies manufacturing overhead costs to products at a budgeted indirect-cost rate…
A: Explanation of Manufacturing Overhead: Manufacturing overhead represents all indirect costs…
Q: A firm has net working capital of $980, net fixed assets of $4,418, sales of $9,250, and current…
A: Concept of Net Working CapitalNet Working Capital (NWC) measures a company's short-term liquidity…
Q: General Accounting Question
A: Step 1: Formula Materials price variance = (Actual price - Standard price) x Actual quantity Step…
Q: Compute the overhead rate using the traditional approach
A: Explanation of Traditional (Plantwide) Overhead Rate: The traditional plantwide overhead rate is a…
Q: help me to solve this questions
A: The question requires the determination of the ROE. Return on Equity (ROE) is an important indicator…
Q: Meet Resources purchased land on March 1, 2018, at a cost of $920,000. It estimated that a total of…
A: Explanation of Restoration Obligation: A restoration obligation represents the estimated cost that a…
Q: Accurate answer
A: Explanation of Direct Costing: This is a costing method (also known as variable costing) where only…
Q: Determine the profit margin
A: Image.Explanation.The profit margin of Grayson Corporation was determined by first calculating its…
Q: help me to solve this questions
A: Step 1: Definition of Overapplied Manufacturing OverheadOverapplied manufacturing overhead occurs…
Q: Give this question financial accounting
A: Step 1: Definition of Cash Conversion Cycle (CCC)The Cash Conversion Cycle (CCC) measures how long…
Q: Determine the cash basis net income
A: Explanation of Cash-Basis Accounting:Cash-basis accounting is a method where revenue is recorded…
Q: hello teacher please solve questions
A: Step 1:Definition of Gross ProfitGross profit refers to the profit that remains after reducing…
Q: What was ronny electronics sales price variance?
A: Explanation of Sales Price Variance:Sales price variance is the difference between the actual…
Financial accounting
Step by step
Solved in 2 steps
- 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.?Dove, Inc. produces a product that has a variable cost of $6.00 per unit. The company's fixed costs are $60,000. The product is sold for $9.00 per unit and the company desires to earn a target profit of $30,000. What is the amount of sales that will be necessary to earn the desired profit?need answer this question
- Shapland Inc. has fixed operating costs of $500,000 and variable costs of $50per unit. If it sells the product for $75 per unit, what is the break-even quantity?Jasmine Incorporated sells a product for $61 per unit. Variable costs per unit are $31, and monthly fixed costs are $252,000. Answer the following questions: Required: a. What is the breakeven point in units? b. What unit sales would be required to earn a target profit of $162,000 ? c. Assuming Jasmine achieves the level of sales required in part b, what is the margin of safety in sales dollars?A company faces fixed costs of $100,000 and variable costs of $8.00/unit. They plan to directly sell their product to the market for $12.00. How many units must they produce and sell to break even?
- Pioneer Manufacturing has fixed costs of $60,000 and variable costs of $40 per unit. If they sell each unit for $100, how many units must be sold to earn a target profit of $40,000? (Round your answer). General AccountWhat does the selling price per unit need to be?Halifax Products sells a product for $75. Variable costs per unit are $50, and monthly fixed costs are $75,000. Answer the following questions: Required: What is the break-even point in units? What unit sales would be required to earn a target profit of $200,000? Assuming Halifax achieve the level of sales required in part b, what is the margin of safety in sales dollars?