Summit Technologies reported sales of $1,250,000 for the quarter. The company's variable costs are 54% of sales, and its total fixed costs amount to $215,000. Calculate the contribution margin ratio. A) 42% B) 46% C) 50% D) 54%
Q: What is contribution margin ratio?
A: Step 1: Introduction to CVP AnalysisCVP analysis, or cost-volume-profit analysis, is a management…
Q: The inventory turnover is?
A: Explanation of Goods Available for Sale: This represents the total cost of inventory that a company…
Q: What amount will she have to pay?
A: To calculate how much Hannah Brooks will have to pay in taxes for her travel allowance, follow these…
Q: General accounting
A: Degree of operating leverage = % change in operating income / % change in sales2.75 = 4% increase /…
Q: BlueTech Corporation's balance sheet reports Assets of $8,400, Contributed Capital of $4,500, and…
A: Step 1: Definition of LiabilitiesLiabilities are the debts or obligations a company owes to external…
Q: General accounting question
A: Step 1: Define Days' Sales Outstanding (DSO)Days' Sales Outstanding (DSO) is a financial metric used…
Q: What is the price earning ratio??
A: To calculate the price-earnings (P/E) ratio, follow these steps: Given Data: Sales = $616,400Profit…
Q: Hi expert please give me answer general accounting question
A: Step 1: Introduction to bondsBonds payable refers to a type of long-term debt that a company or…
Q: What is the materials cost per equivalent unit?
A: Explanation of Work in Process (WIP): Work in Process represents partially completed units that are…
Q: Ivanhoe, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can scan…
A: Step 1:Make-or-buy analysis is a managerial decision-making tool used to determine whether acquiring…
Q: The variable cost per unit
A: Explanation of High-Low Method:The high-low method is a simple technique used in cost accounting to…
Q: What is the average issue price per share of stock on these financial accounting question?
A: Step 1: Define Average Issue Price Per ShareAverage Issue Price Per Share is the average price at…
Q: Financial Accounting
A: Step 1: Define Straight-Line DepreciationStraight-Line Depreciation is a method where an asset's…
Q: Kindly help me with of this general accounting questions not use chart gpt please fast given…
A: Step 1: Define Net SalesNet Sales is the total revenue earned from sales after deducting sales…
Q: Accounting answer
A: Step 1: Definition of P/E RatioThe Price-to-Earnings (P/E) Ratio is a valuation metric used to…
Q: Need Solutions Of This Question Please Provide Solution Without Ai
A: Ist Question:Calculation of Cost of Goods SoldCost of Goods Sold = Beginning Finished Goods…
Q: General Accounting
A: Step 1: Define Variable CostingVariable Costing is a costing method in which only variable…
Q: Give me Answer
A: Order Quantity: 7,000 unitsActual Demand: 4,500 unitsSelling Price: $250 per unitCost per Unit: $165…
Q: What is the correct option? ? General accounting question
A: Step 1: Define Absorption CostingAbsorption costing is a costing method where all manufacturing…
Q: Given the solution and accounting question
A: Step 1: Definition of Owner's EquityOwner's Equity represents the owner's share in the business…
Q: Sharon Mars, a recent graduate of Bell's accounting program, evaluated the operating performance of…
A: Step 1:We should compare savings in avoidable cost with loss of revenue we should compare savings in…
Q: What is the labor rate variance ??
A: Step 1: Definition of Labor Rate VarianceLabor Rate Variance (LRV) is the difference between the…
Q: Provide answer to this accounting problem
A: Explanation of Delivery Cycle Time:Delivery Cycle Time refers to the total time taken from when a…
Q: subject : General accounting
A: Step 1: Define Gross Profit RatioThe Gross Profit Ratio is a profitability ratio that shows the…
Q: Harper Manufacturing uses a predetermined overhead rate based on machine hours to apply…
A: Step 1: Definition of Overapplied or Underapplied OverheadOverapplied or underapplied overhead…
Q: Please solve for items highlighted in Yellow and circled in Red at the bottom.
A: Step 1: Income Statement:- Income statement is prepared at the end of accounting year to know…
Q: I Have with Gpt but I want Real Answer
A: First QuestionCalculation of Cost of Goods Sold (COGS)Cost of Goods Sold = Beginning Inventory +…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Predetermined Overhead RateA Predetermined Overhead Rate is an estimated rate…
Q: Sunland Enterprises uses a computer to handle its sales invoices. Lately, business has been so good…
A: Step 1:📘 Given Data Recap:DescriptionCurrent MachineNew MachineOriginal purchase…
Q: Subject: general accounting
A: Explanation of Asset Turnover Ratio: Asset turnover ratio is a financial efficiency metric that…
Q: general accounting
A: Step 1: Definition of Price-Earnings Ratio (P/E Ratio)The Price-Earnings (P/E) Ratio is a valuation…
Q: Provide correct solution and accounting
A: Step 1: Definition of Pretax IncomePretax income is the profit a company earns from its operations…
Q: Provide answer
A: The correct answer is:a) Process effectiveness indicators complement cost measuresExplanation:…
Q: Lucas purchased a stock for $55.32 per share and sold it one year later for $57.01 per share. He…
A: Capital Gains Yield Calculation We need to determine Lucas' Capital Gains Yield, which measures the…
Q: Compute the equivalent units for Materials.
A: Explanation of Work in Process (WIP):Work in Process refers to the partially completed goods that…
Q: correct answer please
A: Step 1: Definition of Differential CostsDifferential costs (also called incremental costs) refer to…
Q: What was blueridge innovation time interest general accounting ratio for the year?
A: Step 1: Definition of Times Interest Earned Ratio (TIE Ratio)The Times Interest Earned (TIE) Ratio…
Q: Current Attempt in Progress In alphabetical order below are current asset items for Skysong…
A: To properly complete the current assets section of the balance sheet, list the current assets in…
Q: What is the total gross profit margin for the month?
A: Explanation of Absorption Costing: Absorption costing is a method of product costing that includes…
Q: What amount will Hocco Corporation recorded as the acquisition cost of the land
A: Step 1: Definition of Acquisition Cost of LandThe acquisition cost of land includes all expenditures…
Q: Determine any gain or loss
A: Explanation of Cost vs. Fair Value:Cost represents the original purchase price of an asset, while…
Q: Financial accounting question
A: Step 1: Define Gross ProfitGross Profit is the difference between Net Sales and Cost of Goods Sold…
Q: A company reports that unit costs are: . Materials: $3.50 per unit Conversion costs: $6.00 per unit…
A: Calculation of Ending Work-in-process Material CostEnding Work-in-process Material Cost = Percentage…
Q: Compute the equivalent units for materials
A: Explanation of Work in Process (WIP): Work in Process represents inventory items that have started…
Q: How much were LCS's liabilities?
A: Explanation of Assets:Assets are everything a company owns that has economic value and can provide…
Q: correct answer please
A: If you have any questions let me know in the comment box immediately thankyou.
Q: provide step by step solution for general accounting
A: Step 1: Definition of Cash Paid for WagesCash paid for wages refers to the actual cash outflow a…
Q: Help me tutor
A: Step 1: DefinitionsJob Cost Sheet : A Job Cost Sheet is a detailed record that tracks all the costs…
Q: Subject - General account
A: Step 1: Definition of Direct Labor Rate VarianceThe Direct Labor Rate Variance measures the…
Q: Sterra, Inc. has sales of $55,000, costs of $26,800, and a depreciation expense of $2,400. If the…
A: Answer: $21,750
Accounting subject and explanation
Step by step
Solved in 2 steps
- 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 245,000Calculate the contribution margin ratio?
- Contribution margin is?G Company budgets sales of $2,250,000, fixed costs of $62,900, and variable costs of $280,600. What is the contribution margin ratio for G Company?Jellico Inc.’s projected operating income (based on sales of 450,000 units) for the coming year isas follows:TotalSales $11,700,000Total variable cost 8,190,000Contribution margin $ 3,510,000Total fixed cost 2,254,200Operating income $ 1,255,800Required:1. Compute: (a) variable cost per unit, (b) contribution margin per unit, (c) contribution margin ratio, (d) break-even point in units, and (e) break-even point in sales dollars.2. How many units must be sold to earn operating income of $296,400?3. Compute the additional operating income that Jellico would earn if sales were $50,000 morethan expected.4. For the projected level of sales, compute the margin of safety in units, and then in salesdollars.5. Compute the degree of operating leverage. (Note: Round answer to two decimal places.)6. Compute the new operating income if sales are 10% higher than expected.
- a. Imelda Company budgets sales of $1,800,000, fixed costs of $394,000, and variable costs of $1,116,000. What is the contributior margin ratio for Imelda Company? (Enter your answer as a whole number.) % b. If the contribution margin ratio for Peppa Company is 42%, sales were $2,500,000, and fixed costs were $590,000, what was the income from operations?Last year, Jenson Enterprises earned an operating income of $27,800 with a contribution margin ratio of 0.30. Actual revenue was $250,000. Calculate the total fixed cost. Round your answer to the nearest dollar, if required.Calculate the total fixed cost?