eakeven sales in units will decrease by 4,000 units, how much will be the increase/decrease in profits? i. If the firm wants to increase its current profits by P 60,000. How much sales revenue does it have to make?
Q: The following balances were extracted from the books of Jolo Enterprise as at 31st December, 2005. ...
A: Financial Statement - Financial Statement includes Income Statement, Statement of Owner's Equity and...
Q: n 2021, Ehrlich Corporation reported net income of $700,000. It declared and paid preferred stock di...
A: Solution: Earnings per share is the monetary value of earnings per outstanding share of common stock...
Q: Product A has a contribution margin of P 10 per unit, a contribution margin ratio of 50%, and requir...
A: The contribution margin per hour is the amount of profit earned before considering the fixed expense...
Q: E9-6 (Algo) Computing and Recording Straight-Line Depreciation [LO 9-3] Yazzie Incorporated bought a...
A: Given, =A machine at the beginning of the year at a cost of $42,000. =The estimated useful life was ...
Q: Share capital, nominal IDR 10,000, 45,000 shares issued and outstanding Rp450.000.000 Additional p...
A: Goodwill is the amount paid by acquirer company in excess of the interest acquired in net worth of t...
Q: Jan. 1, 2014 300,000 Required: 1. Compute the balance of bonds payable and discount on bonds payable...
A: Bond Issuance of bond which can be either par value or discount or premium value as well. Whether t...
Q: FORTEN COMPANY Income Statement For Current Year Ended December 31 $ 642,500 297,000 345,500 Sales C...
A: The cash flow statement is prepared to record the cash flow from various activities during the perio...
Q: Super Pharma Company had the following transactions: 1. Issued capital stock for $935,000. 2. Purch...
A: Solution: A trial balance is a worksheet in which the balance of all ledgers are reported into debit...
Q: Sheffield Company's budgeted sales and direct materials purchases are as follows. Budgeted Budgeted ...
A: Cash sales = Total sales * percentage of cash sales Credit sales = Total sales * percentage of cred...
Q: DATA: May 1 - Beg. Balance - 1,000 Units @ $20 May 8 - Purchases - 1,200 Units @ $22 May 10 - Sol...
A: Date Purchase Cost of goods sold Balance Inventory Quantity Cost per Unit (In $) Total Cost (...
Q: Calculate weighted avg common stock outstanding and basic eps for year ended December 31, 2016.
A: Basic Earnings per share is calculated by dividing the profit available for common shareholders afte...
Q: Empl Hrs OT Rate Gross FIT FICA Health Dental Net 0010 40 $14 $560 $56.00 $42.84 $15 $5 0011 40 $16 ...
A: Net pay means gross pay less payroll tax and deduction. Net pay is amount which is provide to employ...
Q: Please solve both (a) and (b) in an Excel Spreadsheet and provide formulas you used. a) Use rate of...
A: Rate of Return: A rate of return (RoR) is the net gain or loss realized by an investment over a set ...
Q: Mr. S sold a pig named Peachy to Ms. B for P5,000. No condition or period was contemplated. After th...
A: Mr. S sold the pig to Ms. B without any condition. After the completion of sale but before delivery ...
Q: (a) Determine the amount of markup (in dollars) the dealer applies to each smartphone to se at the r...
A: Cost of Smartphone to Retailer $ 820.00 Regular Selling Price $ 799.00 Overhead is 18% ...
Q: You are an audit senior in Riskam and Co and you are commencing the planning of the audit of CariBev...
A: Answer:- Audit risk definition:- Audit risks are those risks where, auditor sometimes not able to d...
Q: Which of the following should not be considered when determining the production budget for an accoun...
A: Production Budget The production budget calculates the number of units of products that must be manu...
Q: Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's produ...
A: A job cost sheet is prepared for each job under job order costing system
Q: Consider a student loan of $12,500 at a fixed APR of 12%for 25 years. What is the monthly payment...
A: Monthly Payment: Monthly payments let a borrower to pay down part of the remaining sum, which is com...
Q: s) level before the additional investment. Req G2 to G4 >
A: Residual income refers to the income remaining at an individual after he or she has paid all of his ...
Q: Ahlia Products Company uses an automated process to clean and polish its souvenir items. For March, ...
A: Cost of Production report- The cost of production report displays all expenditures associated with a...
Q: A 5-year project will require an investment of $100 million. This comprises of plant and machinery w...
A: In the case of a multipart question, the first three subparts are solved. The cost of equity is the ...
Q: is 2.50%. In the future, the rate will reset to 250 basis points above the LIBOR. There are no rate ...
A: Monthly interest rate (2.50% / 12) 0.21% (approx.) Number of years of the loan (30 years * 12 mont...
Q: The goal of this problem is to identify and implement the proper internal controls on the following ...
A: Internal controls are the systems, rules, and processes implemented by the company to ensure the cor...
Q: 1) How does management measure and report the results of discontinued operations?
A: Discontinued operations in financial accounting refer to sections of a company's primary business or...
Q: Additional intormation about the company tollows. Common stock market price, December 31, Current Ye...
A: Ratio Analysis - The ratio is the technique used by the prospective investor or an individual or str...
Q: Negotiation Agreement) is considered as a benefit for public employees. Given the formula below: CNA...
A: CAN + 13th Month Pay + other benefits > Php 30,000 are taxable
Q: The following income statement and selected balance sheet account data are available for Treece, Ic....
A: The statement of cash flows generated using the indirect approach adjusts net income for changes in ...
Q: The following are the transactions of Morrell Corporation: Morrell Corporation disposed of two c...
A: Solution: When equipments are disposed off without realizing any amount, the book value of equipment...
Q: Given the following data: Selling price per unit Variable production cost per unit Fixed production ...
A: Break-even point is the situation where the firm neither earns any profits nor suffers any losses.
Q: 7. Mr. Kwon imports Korean vegetables and sells them in the domestic market for Korean residents in
A: As per the circular issued by Bureau of Internal Revenue [BI...
Q: TRUE OR FALSE?
A: TRUE
Q: Office Outfitters Inc. which uses a perpetual inventory system, experienced an inventory shrinkage o...
A: Introduction Inventory shrinkage is the loss in inventory due to various reasons such as theft, dam...
Q: For items #6-10 - Financial Statement: Below is the balance sheet of ABM International for June 30, ...
A: Liquidity ratios are the measures that are used to depict the capacity of the entity to meet up its ...
Q: The Machining Department of Hock Company has a total capacity of 2,400 machine hours per month. The ...
A: Total machine hours available = 2400 machine hours Contribution per machine hour = Contribution per ...
Q: Q4. A sale of merchandise on account for $5,000, terms n/30, is subject to an 8% sales tax. (a) S...
A: Sales Tax - Sales Tax is the tax that charged by the the seller the customer. This is not the income...
Q: nuary 1, 2020, Cullumber Corporation had inventory of $50,00O. At December 31, 2020, Cullumber Ces. ...
A: Gross profit is the amount of profit which is arrived by deducting cost of goods sold from sales rev...
Q: On Janaury 1, 2021, Eastern Corp. received P 1,077,200 for P 1,000,000 face amount 12% bonds. The bo...
A: Interest expense refers to the cost or expense which is incurred through the entity for the borrowed...
Q: Determine the most accurate statement about variances. Unfavorable variances normally have a credit ...
A: Variance: A variance is defined as the difference between a budgeted, planned, or standard cost and ...
Q: Selected information for a recent year follows for Bank of Montreal and Scotiabank (in millions): ...
A: Net increase/decrease= Cash flow from operating activities + financing activities+ investing activit...
Q: You have been engaged to review the financial statements of Flint Corporation. In the course of your...
A: Solution:- Preparation of the necessary correcting entries, assuming that Flint uses a calendar-year...
Q: Leonard Motors is trying to increase its international export business. It is considering several al...
A:
Q: 6. After discussing the treatment of process losses and abnormal effectiveness in process accounts t...
A: Process X account Particulars Unit Amount(in Rs) Particulars Unit Amount(in Rs) To, Units intr...
Q: nurtry Corporation sells a product for $150 per unit. The product's current sales are 12,600 units a...
A: The margin of safety is calculated as difference between current sales and break even sales.
Q: ABC, Inc., sells tea products to various customers. In recent years, profits have been declining. Th...
A: Introduction:- Total costs consist of variable costs of $25 per unit and fixed costs of $56,000 Mar...
Q: 2) E9-3 (Algo) Determining Financial Statement Effects of an Asset Acquisition and Straight-Line Dep...
A: Any accounting transaction in the business imposes a minimum of two impacts in the books of accounti...
Q: apar int tenancy with right of At the time of the purcha hetter financial nosition .
A: So in present case Answer is option 1) $ 0 Explanation given below When one of the original owners...
Q: uses the following standard costs to produce a single unit of output Direct materials 8 pounds at $0...
A: Solution: Standard price of materials = $0.70 per pound Actual price of materials = $0.90 pound Actu...
Q: Amazon.com, Inc. (AMZN) is one of the largest Internet retailers in the world. Best Buy Co., Inc. (B...
A: The question is based on the concept of Financial Management.
Q: Production, Direct Labor, Direct Materials, Sales Budgets, Budgeted Contribution Margin Laghari Com...
A: The sales budget is an estimation of sales during a particular period. The contribution margin budge...
Step by step
Solved in 3 steps
- Last year. Abner Company incurred the following costs P 50,000 20,000 130,000 40,000 36,000 Direct materials Direct labor Factory overhead Selling expense Administrative expense Units produced and sold 10,000 units at a price P31 each 13. Prime cost per unit is a. P 7.00 b.P15.00 c. P 5.00 d. P20.00 14. Con ersion cost per unit is a. ? 7. b. P 15.) c P20.00. d. P26.00 15. Cost of goods solt pe unit is steqe3 a. P 7.0 b. P 15.00 burteg t ol 200 ba c. P 20.00 d. P26.00 dsY sci 16. Gross p.ofit per unit is a. P11.00 b. P 15.00 c. P 16.00 d. P 24.00 17. Operating income is a. P 24,000 b. P110,000 i biviam 8419 c. P"74,000 d. Pl10,0006. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL MANUFACTURING (PRODUCT) COSTS?Q # 1: The income statement for the Stylo Company for the past yearis: Salcs (150000 units a $30) Cost of Goods Sold: $4,500,000 Materials $1,050,000 1,500,(100 450,000 500,000 Labour Variable FOH Fixed FOH 3.500,000 $1,000.000 Gross Profit $ 135.000 Variable Marketing Expenses Fixed Marketing Expenses Fixed Administrative Expenses 185,000 180.000 500.000 $ 500,000 250,000 S 250,000 Income before Tax Income Tax Net Inco me Woodstock is preparing its budget for the coming year and has made the following predictions about cost increascs: material 5%, labour 8%, all other costs inçluding fixed 6%. Productive capacity is 200,000 units. The president has been offered various proposals by the division managers as follows: Maintain the present volume and sales price Produce and sell at capacity and reduce the unit price $28. Raise the unit price to $32, spend an cxtra # 300,000 on advertising, and produce and sell 180,000 um its. Required: Recommended action, based on quantification of…
- C. $1,060,000. D. $1,080,000. PROBLEM 4 The following is Unknown Corporation's contribution format income statement for last month: Sales P 2,000,000 Variable Costs 1.400.000 Contribution Margin 600,000 Fixed Costs 360,000 Profit 240,000 The company has no beginning or ending inventories. A total of 40,000 units were produced and sold last month. Required: (1 point for each requirement) Compute for the following items: a. Selling price per unit b. Variable cost per unit 2nd semester AY 2021- 2022 Page 5 of 6 C. Contribution margin per unit d. Contribution margin ratio e. Breakeven point in pesos f. Breakeven point in unit sales g. If breakeven sales in units will increase by 10,000 units, how much will be the increase/decrease in profits? h. If breakeven sales in units will decrease by 4,000 units, how much will be the increase/decrease in profits?8. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL PERIOD COSTS?Q # 1: The income statement for the Stylo Company for the past year is: Sales (150000 units @ $30) Cost of Goods Sold: $4,500,000 Materials $1,050,000 1,500,000 450,000 500,000 Labour Variable FOH 3,500,000 $1,000,000 Fixed FOH Gross Profit Variable Marketing Expenses Fixed Marketing Expenses Fixed Administrative Expenses $ 135,000 185,000 180,000 500,000 $ 500,000 250,000 $ 250,000 Income before Tax Income Tax Net Inco me Woodstock is preparing its budget for the coming year and has made the following predictions about cost increases: material 5%, labour 8%, all other costs including fixed 6%. Productive capacity is 200,000 units. The president has been offered various proposals by the division managers as follows: Maintain the present volume and sales price Produce and sell at capacity and reduce the unit price $28. Raise the unit price to $32, spend an extra # 300,000 on advertising, and produce and sell 180,000 un its. Required: Recommended action, based on quantification of…
- O e. $40 Company XYZ made total sales revenue of $450,000. The variable manufacturing costs were $125,000 while the fixed manufacturing costs were $20,000. The variable selling and administrative expenses were $50,000 while the fixed selling and administrative expenses were $10,000. How much was the total contribution margin ($)? a. 275,000 O b. 325,000 O c. 305,000 d. None of the given answers e. 390,000 PAGE NEXT PAGEOrd Applicati... WP WileyPLUS B Bloomberg for Edu... 2:55:19 Mc Graw Hill Multiple Choice ) $1,900,000. During its most recent fiscal year, Dover, Incorporated had total sales of $3,200,000. Contribution margin amounted to $1,500,000 and income was $400,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year? $2,800,000. $1,300,000. $1,100,000. Saved Save & Exit DELL Subm15. Orion Company sells several products. Information of average revenue and costs is as follows: Selling price per unit $23 Variable cost per unit: Direct material $4.00 Direct manufacturing labor $1.60 Variable manufacturing Overhead $0.40 Sales commission $2.10 Annual fixed costs $100,000 The company sells 12,000 units at the end of the year. The contribution per unit is? a. $16.50 b. $14.90 c. $18.60 d. $19.00
- 10 In July, TPM Co. incurred total costs of $60,000 and made 6000 units. In December it produced 4000 units and total costs were $40,000. What is the variable cost per unit? a. S12.00 b. $15.00 c. S10.00 d. $8.00Take a look at the following company information: Sales (000s) Direct Materials (000s) Direct Labour (000s) Gross Profit (000s) Selling and Admin Expense (000s) Net profit $ 1566 $554 $ 211 $801 Answer: $ 162.5 $ If we decrease the direct materials cost by 2%, what is the new Net Profit? Show your answer to 2 decimals and include the correct unit.The following is Specter Corporation's contribution format income statement for last month:Sales $1,200,000Less variable expenses 800,000Contribution margin 400,000Less fixed expenses 300,000Net income $100,000The company has no beginning or ending inventories and produced and sold 20,000 units duringthe month.Required:a. What is the company's contribution margin ratio? b. What is the company's break-even in units? c. If sales increase by 100 units, by how much should net income increase?