Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

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Answer 1

Question

Chapter 3, Problem 52P

a.

To determine

Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

b.

To determine

Calculate the number of flights that the Airlines must operate on the route to earn a total profit of $500,000 before taxes per week.

c.

To determine

Describe whether fuel costs are variable or fixed.

d.

To determine

Calculate the variable cost of airlines for one additional passenger on a flight if the passenger takes a seat that would otherwise go empty.

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Question 1181 28 Current Attempt in Progress Here are comparative balance sheets for Migitsu Company. Prepare a statement of cash flows-indirect method. MIGITSU COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $73,000 $22,000 Accounts receivable 87,000 76.000 Inventory 170,000 191.000 Land 72,000 100.000 Equipment 260,000 200.000 Accumulated depreciation - equipment (66,000) (32.000) Total $596,000 $557,000 Liabilities and Stockholders' Equity Accounts payable $37,000 $47.000 Bonds payable 150,000 210,000 Common stock ($1 par) 216.000 174,000 Retained earnings 193,000 126.000 Total $596,000 $557,000 Additional information: 1 Net income for 2020 was $100,000. N Cash dividends of $33,000 were declared and paid. 3. Bonds payable amounting to $60,000 were redeemed for cash $60,000. -18 4. Common stock was issued for $42,000 cash. 5. Equipment that cost $50,000 and had a book value of $30,000 was sold for $36,000 during 2020; land was sold at cost.

Answer 2

Question

Chapter 3, Problem 52P

a.

To determine

Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

b.

To determine

Calculate the number of flights that the Airlines must operate on the route to earn a total profit of $500,000 before taxes per week.

c.

To determine

Describe whether fuel costs are variable or fixed.

d.

To determine

Calculate the variable cost of airlines for one additional passenger on a flight if the passenger takes a seat that would otherwise go empty.

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Answer 3

Question

Chapter 3, Problem 52P

a.

To determine

Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

b.

To determine

Calculate the number of flights that the Airlines must operate on the route to earn a total profit of $500,000 before taxes per week.

c.

To determine

Describe whether fuel costs are variable or fixed.

d.

To determine

Calculate the variable cost of airlines for one additional passenger on a flight if the passenger takes a seat that would otherwise go empty.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 4

Question

Chapter 3, Problem 52P

a.

To determine

Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

b.

To determine

Calculate the number of flights that the Airlines must operate on the route to earn a total profit of $500,000 before taxes per week.

c.

To determine

Describe whether fuel costs are variable or fixed.

d.

To determine

Calculate the variable cost of airlines for one additional passenger on a flight if the passenger takes a seat that would otherwise go empty.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 3, Problem 52P

a.

To determine

Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

b.

To determine

Calculate the number of flights that the Airlines must operate on the route to earn a total profit of $500,000 before taxes per week.

c.

To determine

Describe whether fuel costs are variable or fixed.

d.

To determine

Calculate the variable cost of airlines for one additional passenger on a flight if the passenger takes a seat that would otherwise go empty.

Answer 6

Chapter 3, Problem 52P

a.

To determine

Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

Answer 7

Chapter 3, Problem 52P

a.

To determine

Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

Answer 8

b.

To determine

Calculate the number of flights that the Airlines must operate on the route to earn a total profit of $500,000 before taxes per week.

Answer 9

b.

To determine

Calculate the number of flights that the Airlines must operate on the route to earn a total profit of $500,000 before taxes per week.

Answer 10

c.

To determine

Describe whether fuel costs are variable or fixed.

Answer 11

c.

To determine

Describe whether fuel costs are variable or fixed.

Answer 12

d.

To determine

Calculate the variable cost of airlines for one additional passenger on a flight if the passenger takes a seat that would otherwise go empty.

Answer 13

d.

To determine

Calculate the variable cost of airlines for one additional passenger on a flight if the passenger takes a seat that would otherwise go empty.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 3 - Prob. 1Q Ch. 3 - Explain the difference between variable costs and...Ch. 3 - What does the term contribution margin per unit...Ch. 3 - Prob. 4Q Ch. 3 - Prob. 5Q Ch. 3 - Prob. 6Q Ch. 3 - Prob. 7Q Ch. 3 - Prob. 8Q Ch. 3 - Why should decision makers focus only on the...Ch. 3 - Prob. 10Q

Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

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Calculate the number of passengers that each of the 70 one-way flights must have on average to break even each week.

Calculate the number of flights that the Airlines must operate on the route to earn a total profit of $500,000 before taxes per week.

Describe whether fuel costs are variable or fixed.

Calculate the variable cost of airlines for one additional passenger on a flight if the passenger takes a seat that would otherwise go empty.

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Chapter 3 Solutions