Sunland Inc. sells its product for $24 per unit and variable costs are $16 per unit. Its fixed costs are $147,200. Calculate the required sales in units to achieve its target operating income of 10% of total costs. (Round answer to 0 decimal places, e.g. 125.) Required sales units
Q: Beginning inventory, purchases, and sales for Item Zeta9 are as follows: 41 units © $24 Sale 30…
A: Ending inventory is the amount of inventory in hand at the end of the period. It is the inventory…
Q: Mandy, a CPA, flew from Raleigh to Seattle to attend an accounting conference that lasted four days.…
A: Here, we will apply schedule C assuming that Mandy is a self employed
Q: Find the present value of $675 due in the future under each of the following conditions. Do not…
A: The time value of money (TVM) is a concept in finance that refers to the idea that money available…
Q: debt to assets rati
A: Debt to assets ratio is the ratio which shows the quantum of debt used by entity in relation to the…
Q: On December 31, 2020, Berclair Inc. had 440 million shares of common stock and 8 million shares of…
A: Earnings per share (EPS) is a financial metric that measures a company's net profit divided by its…
Q: Demonstrate how the credit risk management issue(s) in the Washington Mutual case can be resolved…
A: Due to excessive credit risk exposure, Washington Mutual, Inc. (WaMu), a sizable US savings and loan…
Q: 3. The DE partnership is equally owned by Diana and Emily. Diana's fiscal year ends on March 31, and…
A: A partnership is a form of business organization where two or more people (partners) come together…
Q: Obtaining a “Sufficient” Understanding of Internal Control. The 12 partners of a regional public…
A: Answer:- Internal control:- Internal control is a procedure for ensuring that an corporation's…
Q: be required in its definitions of assets and liabilities for debt instruments. It is thought that…
A:
Q: Prepare an aging schedule to determine the total estimated uncollectibles at March 31, 2018.…
A: Allowance for doubtful accounts is an estimate for the accounts receivables that might not be…
Q: Calculate the total wages earned (assume an overtime rate of 1.5 over 40 hours Employee Hourly Rate…
A: Answer Given that overtime payment is 1.5 times over normal wage rate on for above 40 hrs
Q: Calgary Manufacturing company makes chairs and desks. The following costs were incurred in making…
A: Answer Formula = Total predetermined overhead rate = Total employee benefits cost / direct labor…
Q: 4. SPECIAL ORDER PRICING EXO Company sells "Power V" at a unit price of P 31,000, with the following…
A: Hi student Since there are multiple questions, we will answer only first question. Variable costs…
Q: E23-12 In 2014, Leppard Inc. issued 1,000 shares of $10 par value common stock for land (a) Prepare…
A: The cash flow statement refers to the financial statement prepared at the end of an accounting year…
Q: Lloyd's produces and sells tennis rackets. The company requires that 22% of the next month’s…
A: PRODUCTION BUDGET The Production Budget is a Forecast of the Production for the Budget period.…
Q: Standards for one of Patterson, Inc.'s products is shown below, along with actual cost data for the…
A: Standard costing signifies wherein the total cost is budgeted and then the actual cost is compared…
Q: 1. Which statement is incorrect regarding materiality judgments? A. An entity is only required to…
A: “Since you have posted multiple questions, we will provide the solution only to the first question…
Q: Larkspur Inc owns a building with a carrying amount of $1.60 million as at January 1, 2023. On that…
A: The journal entry was used by commercial organizations to keep track of their financial transactions…
Q: Use the information given in Great Lakes National Bank's balance sheet to answer the following…
A: Additional investment contributed by the owners themselves always increases the balance of assets as…
Q: 2. Materials Price, Mix and Yield Variances SM-Ayala Merger produces the popular "3N1" Cologne that…
A: Dear student, as per bartleby guidelines we are supposed to answer only first 3 subpart of the…
Q: Big Game, Inc., is a manufacturer of hunting supplies. The following is a summary of the company’s…
A: The payroll costs include the costs of the employees incurred to compensate its employees. The…
Q: In 2021, Borland Semiconductors entered into the transactions described below. In 2018, Borland had…
A: Journal entries refer to the recording of the transactions in the debit and credit format which…
Q: Mojito Corporation applies overhead based upon machine hours. Budgeted factory overhead was $266,400…
A: Predetermined overhead rate is calculated on the basis of the estimated cost and estimated hours,…
Q: 5. Determine the amount of sales (units) that would be necessary under the proposed program to…
A: Particulars Calculation Amount in $ Amount in $ sales (A) Given 9136800 Less: variable cost…
Q: The Toso Company uses the retail inventory method. The following information is available for the…
A: Retail inventory method: It implies to a method of estimating the value of closing inventory held at…
Q: 3. 'After winning the match, and about to leave the venue, a burglar runs past being chased by a…
A: Ethics plays a vital role in shaping the way we perceive and act in different situations. In the…
Q: Sundance Systems has the following transactions during July. July 5 Purchases 32 LCD televisions on…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: equirements: . Using the high-low method, and based upon the data collected: (a) estimate the…
A: Introduction: - High-low method is one of the techniques that is used to separate fixed and…
Q: The ledger of Metlock, Inc. on March 31 of the current year includes the selected accounts below…
A: Adjusting entries are those journal entries which are passed at the end of accounting period. Main…
Q: Carl, who share income in the ratio of 5:3:2 is 600,000, 400,000, and 300,000, respectively. The…
A: The partnership comes into existence when two or more persons agree to do the business and further…
Q: Examine the several pronouncements by authoritative accounting bodies on: Cost Allocation; Asset…
A: Cost Allocation: Cost allocation refers to the process of assigning costs to specific products or…
Q: A debt of $42,000 is repaid over 10 years with payments occurring semi-annually. Interest is 3%…
A: To find the size of the periodic payment, we can use the formula for the present value of an…
Q: Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude…
A: Journal Entry is the primary step to record the transaction in the books of accounts. The increase…
Q: Bridgeport Ltd. purchased a building on January 1, 2021 for $14,640,000. Bridgeport accounted for…
A: The journal entry was used by commercial organizations to keep track of their financial transactions…
Q: appropriate factor(s) from the tables provided.) term (years) 's rate of return (known by lessee) 's…
A: A lease is a legal agreement between a lessor (the owner of an asset) and a lessee (the user of the…
Q: Carla Vista Corp. offers three-year, 6% convertible bonds (par $1,000). Each $1,000 bond may be…
A: Journal entry is passed to record the transactions of all types that happen in the daily course of…
Q: Blossom Electronix sells computer tablets and MP3 players. The business is divided into two…
A: BREAKEVEN POINT Break Even means the volume of production or sales where there is no profit or…
Q: The Colin Division of Sunland Company sells its product for $32 per unit. Variable costs per unit…
A: The income statement tells about the profitability of the business for the current period. Using…
Q: Oslo Company prepared the following contribution format income statement based on a sales volume of…
A: Contribution Margin :— It is the difference between sales and variable cost. Contribution margin…
Q: How to journalized May 1: Paid rent for May, $5,000, May 3: Purchased merchandise on account from…
A: A Journal is the primary book in which transactions of a business are recorded. A journal entry…
Q: Seascape Company has two products: Product A has a contribution margin per unit of $17 and Product B…
A: Contribution margin is an important metric that is used in cost volume profit analysis. It is the…
Q: which of the following is the least appropriate detail to document in test work template for a…
A: Urecorded liabilities search are performed by the auditor to detect the liabilities which was…
Q: $10,000 bond quoted at 106 would sell for: A. $10,106. B. $106. C. $10,000. D.…
A: A bond is a debt security issued by a company, government, or other entity to raise capital. When an…
Q: Question1: ABC Ltd purchased a machine at a cost of $300,000 on 1 July 2020. It had a useful life of…
A: Journal entries are accounting records that detail the debits and credits of a business's financial…
Q: Which of the following is not considered an important element of segregation of duties in the…
A: The assignment of distinct steps in a process to different personnel is known as the segregation of…
Q: ABC Company is a small business that sells handmade crafts online. The company has been in operation…
A: Financial statements are summaries of a company's operations and financial performance for a…
Q: Big Watches Co. makes one product and it provided the following information to help prepare the…
A: Sales Budget :Sales budget is prepared to show the no. of units to be sold in the future period and…
Q: On September 1, Bridgeport Ltd. purchased $76,200 of five-year, 8% bonds for $67,584, resulting in…
A: Although, only part d is asked but here part a,b and c is also answered to give a complete answer…
Q: ash Sales 70,000 70,000 70,000 70,000 The regular pattern of collection of credit sales is 30% in…
A: Answer : Budgeted cash receipt during September : Amount Cash sales in Sep. $70,000 cash…
Q: How do I find the product cost per unit?
A: Product costing is the computation or determination of the total costs of the product that is…
Sh17
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Lotts Company produces and sells one product. The selling price is 10, and the unit variable cost is 6. Total fixed cost is 10,000. Required: 1. Prepare a CVP graph with Units Sold as the horizontal axis and Dollars as the vertical axis. Label the break-even point on the horizontal axis. 2. Prepare CVP graphs for each of the following independent scenarios: (a) Fixed cost increases by 5,000, (b) Unit variable cost increases to 7, (c) Unit selling price increases to 12, and (d) Fixed cost increases by 5,000 and unit variable cost is 7.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?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.)
- Garrett Company provided the following information: Common fixed cost totaled 46,000. Garrett allocates common fixed cost to Product 1 and Product 2 on the basis of sales. If Product 2 is dropped, which of the following is true? a. Sales will increase by 300,000. b. Overall operating income will increase by 2,600. c. Overall operating income will decrease by 25,000. d. Overall operating income will not change. e. Common fixed cost will decrease by 27,600.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?Manatoah Manufacturing produces 3 models of window air conditioners: model 101, model 201, and model 301. The sales price and variable costs for these three models are as follows: The current product mix is 4:3:2. The three models share total fixed costs of $430,000. Calculate the sales price per composite unit. What is the contribution margin per composite unit? Calculate Manatoahs break-even point in both dollars and units. Using an income statement format, prove that this is the break-even point.
- Morris Industries manufactures and sells three products (AA, BB, and CC). The sales price and unit variable cost for the three products are as follows: Their sales mix s reflected as a ratio of 5:3:2. Annual fixed costs shared by the three products are $25,000 per year. What are total variable costs for Morris with their current product mix? Calculate the number of units of each product that will need to be sold in order for Morris to break even. What is their break-even point in sales dollars? Using an income statement format, prove that this is the break-even point.Starling Co. manufactures one product with a selling price of 18 and variable cost of 12. Starlings total annual fixed costs are 38,400. If operating income last year was 28,800, what was the number of units Starling sold? a. 4,800 b. 6,400 c. 5,600 d. 11,200Schylar 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 245,000
- Total costs for ABC Distributing are $250,000 when the activity level is 10,000 units. If variable costs are $5 per unit, what are their fixed costs? $240,000 $200,000 $260,000 Their fixed costs cannot be determined from the information presented.Jamison Company produces and sells Product X at a total cost of $1,300 per unit, of which $880 is product cost and $420 is selling and administrative expenses. In addition, the total cost of $1,300 is made up of $740 variable cost and $560 fixed cost. The desired profit is $169 per unit. Determine the markup percentage on total cost.fill in the blank 1 %Sunn Company manufactures a single product that sells for $120 per unit and whose variable costs are $90 per unit. The company's annual fixed costs are $432.000 Management targets an annual income of $750,000. (1) Compute the unit sales to earn the target income. Numerator: 1 Denominator: (2) Compute the dollar sales to earn the target income.. Numerator: Denominator P M = Units to Achieve Target Units to achieve target Dollars to Achieve Target Dollars to achieve target
