The following monthly data are available for the Phelps Company:Product AProduct B$150,000$130,000Variable expenses $91,000$104,000Contribution margin $59,000$26,000Fixed expensesOperating incomeThe break-even sales for the month for the company are:SalesSelect an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.a $203,000Product C$90,000$27,000$63,000foonnnn.Total$370,000$222,000$148,000$55,000

The question is based on the concept of Cost Accounting.Break even point is the point at which there…

Answered: The following monthly data are…

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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The management of Pacubas Corporation expects sales in July to be $121,000. The company's contribution margin ratio is 64% and its fixed monthly expenses are $40,000. Required: Estimate the company's net operating income for July, assuming that the fixed monthly expenses do not change.
The company is formulating its plans for the coming fiscal year. Following is the data used to project the current year's after-tax net income of $110,400. Average selling price $4.00 per box Average Variable Costs: cost of candy 2.00 per box selling expenses 0.40 per box 2.40 per box Annual fixed costs: selling 160,000 administrative 280,000 440,000 Expected annual sales volume (390,000 boxes) 1,560,000 Tax Rate 40% Manufacturers of candy have announced that they will increase prices of their products an average of 15 percent in the coming year due to the increase in raw materials and labor costs. 1. What volume of sales in $ must the company achieve in the coming year to maintain the same net income after taxes as projected for the current year if the selling price of candy remains at $4 per box and the cost of candy increases 15 percent? 2. How many units would have to be sold next year to generate a net income equal 10 percent of revenue?
Mcdale Inc. produces and sells two products. Data concerning those products for the most recent month appear below: Product 149V Product Z5OU Sales $ 40,000 $ 45,000 Variable expenses $ 12,800 $ 28,850 The fixed expenses of the entire company were $38,940. The break-even point for the entire company is closest to: Multiple Choice $76,353 $38,940 $80,590 $46,060
Game Play manufactures video games that it sells for $41 each. The company uses a fixed manufacturing overhears allocation rate of $5 per game. Assume all costs and production levels are exactly as planned. The following data are from Game plays’s first two months in business during 2018: Requirement 2. Prepare monthly income statements for October and November, including columns for each month and a total columnusing absorption costing.
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S=1
Solomon Corporation paid one of its sales representatives $4,000 during the month of March. The rep is paid a base salary plus $10 per unit of product sold. During March, the rep sold 300 units. Required Calculate the total monthly cost of the sales representative's salary for each of the following months: Month April May June July Number of units sold Total variable cost Total fixed cost 320 180 360 200 Total salary cost
Jake's Roof Repair has provided the following data concerning its costs: Fixed Cost Cost per per Month $ 21,200 Wages and salaries Parts and supplies Equipment depreciation Truck operating expenses Repair-Hour $15.00 $ 7.50 $ 0.50 $ 1.60 $ 2,770 $ 5,710 $ 4,680 $ 3,870 Rent Administrative expenses $ 0.40 For example, wages and salaries should be $21,200 plus $15.00 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,700 repair-hours. The company expects its sales to be $44.00 per repair-hour. Required: Compute the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
Dietrick Corporation produces and sells two products. Data concerning those products for the most recent month appear below: Product B32L $ 46,000 Sales $ 27,000 Variable expenses $ 13,800 $ 14,670 Fixed expenses for the entire company were $42,550. The break-even point for the entire company is closest to: Note: Round your intermediate calculations to 2 decimal places. Product K84B
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Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and cost information relating to the products follow: Product Weedban Greengrow Selling price per unit $ 11.00 $ 30.00 Variable expenses per unit $ 2.40 $ 12.00 Traceable fixed expenses per year $ 134,000 $ 30,000 Common fixed expenses in the company total $104,000 annually. Last year the company produced and sold 35,500 units of Weedban and 25,000 units of Greengrow. Required: Prepare a contribution format income statement segmented by product lines. Product Line Total Company Weedban Greengrow 0 0 0 0 $0 $0 $0
Please prepare h contribution margin income statement for the month of June thanku

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