W&W Tax Service offers tax and consulting services to individuals and small businesses. Data for fees and costs for three types of tax returns is presented in the table below. Fixed costs total $80,000.| **Type of Return** | **Sales Mix** | **Fee Charged** | **Variable Cost per Return** ||--------------------|---------------|-----------------|-----------------------------|| Easy | 50% | $180 | $100 || Moderate | 30% | $330 | $190 || Business | 20% | $630 | $240 |The break-even point in units using the weighted-average contribution margin is:### Multiple Choice- ☐ 80 units.- ☐ 120 units.- ☐ 194 units.- ☑ 500 units.

The term "break-even point" in accounting refers to the stage or level of activity when the volume…

Answered: W&W Tax Service offers tax and…

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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Similar questions

ces Olongapo Sports Corporation distributes two premium golf balls-Flight Dynamic and Sure Shot. Monthly sales and the contribution margin ratios for the two products follow: Sales CM ratio Fixed expenses total $183,750 per month. Flight Dynamic $ 150,000 Required 1 Product Required 2 Required 3 80% Required: 1. Prepare a contribution format income statement for the company as a whole. 2. What is the company's break-even point in dollar sales based on the current sales mix? 3. If sales increase by $100,000 a month, by how much would you expect the monthly net operating income to increase? Break-even point in dollar sales Sure Shot $ 250,000 36% Complete this question by entering your answers in the tabs below. Total $ 400.000 > What is the company's break-even point in dollar sales based on the current sales mix? Note: Do not round intermediate calculations.
Example: Your company wants to earn $7,000 in after-tax profit selling Frog caps outside the stadium this season. Fixed costs are $6,000 and CMU = $2 per cap. The income tax rate is 30%. 2. How many units do you need to sell to reach the pre-tax profit?
Dog
Ganga manufacturing company's Management Accountant wants to determine the profit for the company. The following information has been collected: Current Sales $350,000 Variable Cost $150,000 Breakeven Sales $300,000 What is the profit at the current sales level? Choose one from the following: A. $23,672 B. $20,000 C. $28,571 D. $38,627
Whirly Corporation’s most recent income statement is shown below: Total Per Unit Sales (8,800 units) $ 281,600 $ 32.00 Variable expenses 167,200 19.00 Contribution margin 114,400 $ 13.00 Fixed expenses 54,900 Net operating income $ 59,500 Required: Prepare a new contribution format income statement under each of the following conditions (consider each case independently): 1. The sales volume increases by 80 units. 2. The sales volume decreases by 80 units. 3. The sales volume is 7,800 units.
(a) Calculate the following: i. Break-even point in bottles and value (5 marks) ii. Total net profit for the year (6 marks) iii. Margin of safety in bottles and value (4 marks) Please provide a calculation for each of them.
Use cvp model to compute the rooms sales necessary to achieve a net income of $156,000 for a single product motel with total fixed cost of $180,000, an average room rat of $50. and a variable cost per room of $20. The motels income tax rate is 35%. prove accuracy
Tim's Bicycle Shop sells 21-speed bicycles. For purposes of a cost-volume-profit analysis, the shop owner has divided sales into two categories, as follows: product type high quality medium quality price invoice cost 840 620 sales commission sales price 1850 920 100 40 Three-quarters of the shop's sales are medium-quality bikes. The shop's annual fixed expenses are $270,400. (In the following requirements, ignore income taxes.) a. What is the shop's break-even sales volume in dollars? Assume a constant sales mix. b. How many bicycles of each type must be sold to earn a target net income of $126,750? Assume a constant sales mix.
Please do not give solution in image format ? And Fast Answering Please ? And please explain proper steps by Step.
Assume the following financial data pertains to a certain single-product lodging business:Room Sales - $400,000Total Variable - $260,000Costs Contribution Margin - $140,000Total Fixed Costs - $ 76,000IBIT - $ 64,000Based on the financial data provided, the contribution margin percentage is __________ percent.
Vishnu
Owe

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