Giving the following data for XY Company year 2008 2009 Total Sales $145,0000 $121,4000 Cost of...
Giving the following data for XY Company
|
year |
2008 |
2009 |
|
Total Sales |
$145,0000 |
$121,4000 |
|
Cost of goods sold |
$880,000 |
$738,400 |
|
Selling & Administrative Expenses |
$92,500 |
$80,700 |
Assume high-low method is adequate in this case, the total fixed costs of selling and administrative expenses is
| 1. |
$10,000 |
|
| 2. |
$12,000 |
|
| 3. |
$15,000 |
|
| 4. |
$20,000 |
Homework Answers
Variable rate for selling and administrative expense = (92500-80700)/(1450000-1214000) = 0.05
Fixed cost = Total Cost-Variable cost = 92500-(1450000*.05) = 20000
So answer is 4) $20000
Add Answer to:
Giving the following data for XY Company
year
2008
2009
Total Sales
$145,0000
$121,4000
Cost of...
Giving the following data for XY Company year 2008 2009 Total Sales $145,0000 $121,4000 Cost of...
Giving the following data for XY Company year 2008 2009 Total Sales $145,0000 $121,4000 Cost of goods sold $880,000 $738,400 Selling & Administrative Expenses $92,500 $80,700 Assume high-low method is adequate in this case, the variable costs of cost of goods sold per unit is 1. 40% 2. 50% 3. 60% 4. 65%
1. ABC company, you are given the last year net income: $80,000, income tax rate: 20%....
1. ABC company, you are given the last year net income: $80,000, income tax rate: 20%. Find the income before tax. 2. For a manufacturing company that has a total monthly fixed costs of $100,000, variable costs per units of $10, selling price per unit $15, income tax rate of 20%, targeted net income of $10,000. Assume all other variables do not affect the cost volume profit relationship, the quantities needed to reach net income is: 3. For a manufacturing...
Group work # Question 2: 6 Marks) Santa's Toys Manufacturing's sales slumped badly in 2008 due...
Group work # Question 2: 6 Marks) Santa's Toys Manufacturing's sales slumped badly in 2008 due to so many people purchasing gifts online. The company's income statement showed the following results from selling 500,000 units of product: net sales $2,125,000; total costs and expenses $2,500,000; and net loss $375,000. Costs and expenses consisted of the following: Variable $2,000,000 $1,300,000 S 700,000 Cost of goods sold Selling expenses Administrative expenses 50,000 200,000 300,000 50,000 150,000 2500,000 S500,000 $1000,000 Management is considering...
Group work # Question 2 (6 Marks) Santa's Toys Manufacturing's sales slumped badly in 2008 due...
Group work # Question 2 (6 Marks) Santa's Toys Manufacturing's sales slumped badly in 2008 due to so many people purchasing gifts online. The company's income statement showed the following results from selling 500,000 units of product: net sales $2,125,000; total costs and expenses $2,500,000; and net loss $375,000. Costs and expenses consisted of the following: 000,000 ariable 200,000 Fixed Cost of goods sold Selling expenses S1,300,000 S 700,000 150,000 Administrative expenses 300,000 150,000 150,000 2.500,000 SL500,000 $1000,000 50,000 Management...
Group work # Question 2 (6 Marks) Santa's Toys Manufacturing's sales slumped badly in 2008 due...
Group work # Question 2 (6 Marks) Santa's Toys Manufacturing's sales slumped badly in 2008 due to so many people purchasing gifts online. The company's income statement showed the following results from selling 500,000 units of product: net sales $2,125,000; total costs and expenses $2,500,000; and net loss $375,000. Costs and expenses consisted of the following: 000,000 ariable 200,000 Fixed Cost of goods sold Selling expenses S1,300,000 S 700,000 150,000 Administrative expenses 300,000 150,000 150,000 2.500,000 SL500,000 $1000,000 50,000 Management...
Chapter 1: Applying Excel Data Sales $12,000 Variable costs: Cost of goods sold $6,000 Variable selling...
Chapter 1: Applying Excel Data Sales $12,000 Variable costs: Cost of goods sold $6,000 Variable selling $600 Variable administrative $400 Fixed costs: Fixed selling $2,500 Fixed administrative $1,500 Enter a formula into each of the cells marked with a ? below Exhibit 2-9 Traditional Format Income Statement Sales ? Cost of goods sold ? Gross margin ? Selling and administrative expenses: Selling ? Administrative ? ? Net operating income ? Contribution Format Income Statement Sales ? Variable expenses: Cost of...
$12,000 Sales Variable costs: Cost of goods sold Variable selling Variable administrative Fixed costs: Fixed selling...
$12,000 Sales Variable costs: Cost of goods sold Variable selling Variable administrative Fixed costs: Fixed selling Fixed administrative $6,000 $600 $400 $2,500 $1,500 Enter a formula into each of the cells marked with a ? below Exhibit 2-9 Traditional Format Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling Administrative Net operating income Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Variable selling Variable administration Contribution margin Fixed expenses: Fixed selling Fixed...
caps lock Superior Company Company provided the following data for the year ended December 31. Superior...
caps lock Superior Company Company provided the following data for the year ended December 31. Superior closes any under-or over-applied shead costs to cost of goods sold at the end of the year. Selling and administrative expense Sales Actual manufacturing overhead cost Total manufacturing cost for the year Cost of goods manufactured Direct labor cost Net operating income (after adjustment) Finished goods (beginning balance) Finished goods (ending balance) $ 12,000 $ 87,000 $ 19,000 $ 45,000 $ 37,000 $ 10,000...
The following information pertains to Bright Toy Company's operating activities for 2009. The company sells light...
The following information pertains to Bright Toy Company's operating activities for 2009. The company sells light box toys and sold 10,000 units in 2009. What is the cost of goods sold for 2009? Purchases Selling and Administrative Expenses Merchandising inventory, 1/1/2009 Merchandising inventory, 12/31/2009 $126,000 90,000 14,000 10,000 250,000 Sales Revenue $140,000 $124.000
total rev can replace that 2009 $34137 660 34797 CostPlus Company Income Statements 2008 Net Sales...
total rev can replace that
2009 $34137 660 34797 CostPlus Company Income Statements 2008 Net Sales $31621 Membership Fees 543 Total Revenue 32164 Operating expenses Merchandise Costs 28322 SG&A 2615 Depreciation 190 Interest Expense Total Operating Expenses 31166 Interest Income Taxable income 1052 Taxes 421 Net Income $631 30598 2966 241 39 32 54 33837 43 1003 401 $602 2009 CostPlus Company Balance Sheets 2008 $524 48 175 2490 $602 325 2739 Cash Short-term Investments Accounts Receivable Inventory Other Current...
Group work # Question 2: 6 Marks) Santa's Toys Manufacturing's sales slumped badly in 2008 due to so many people purchasing gifts online. The company's income statement showed the following results from selling 500,000 units of product: net sales $2,125,000; total costs and expenses $2,500,000; and net loss $375,000. Costs and expenses consisted of the following: Variable $2,000,000 $1,300,000 S 700,000 Cost of goods sold Selling expenses Administrative expenses 50,000 200,000 300,000 50,000 150,000 2500,000 S500,000 $1000,000 Management is considering...
Group work # Question 2 (6 Marks) Santa's Toys Manufacturing's sales slumped badly in 2008 due to so many people purchasing gifts online. The company's income statement showed the following results from selling 500,000 units of product: net sales $2,125,000; total costs and expenses $2,500,000; and net loss $375,000. Costs and expenses consisted of the following: 000,000 ariable 200,000 Fixed Cost of goods sold Selling expenses S1,300,000 S 700,000 150,000 Administrative expenses 300,000 150,000 150,000 2.500,000 SL500,000 $1000,000 50,000 Management...
Group work # Question 2 (6 Marks) Santa's Toys Manufacturing's sales slumped badly in 2008 due to so many people purchasing gifts online. The company's income statement showed the following results from selling 500,000 units of product: net sales $2,125,000; total costs and expenses $2,500,000; and net loss $375,000. Costs and expenses consisted of the following: 000,000 ariable 200,000 Fixed Cost of goods sold Selling expenses S1,300,000 S 700,000 150,000 Administrative expenses 300,000 150,000 150,000 2.500,000 SL500,000 $1000,000 50,000 Management...
$12,000 Sales Variable costs: Cost of goods sold Variable selling Variable administrative Fixed costs: Fixed selling Fixed administrative $6,000 $600 $400 $2,500 $1,500 Enter a formula into each of the cells marked with a ? below Exhibit 2-9 Traditional Format Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling Administrative Net operating income Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Variable selling Variable administration Contribution margin Fixed expenses: Fixed selling Fixed...
caps lock Superior Company Company provided the following data for the year ended December 31. Superior closes any under-or over-applied shead costs to cost of goods sold at the end of the year. Selling and administrative expense Sales Actual manufacturing overhead cost Total manufacturing cost for the year Cost of goods manufactured Direct labor cost Net operating income (after adjustment) Finished goods (beginning balance) Finished goods (ending balance) $ 12,000 $ 87,000 $ 19,000 $ 45,000 $ 37,000 $ 10,000...
The following information pertains to Bright Toy Company's operating activities for 2009. The company sells light box toys and sold 10,000 units in 2009. What is the cost of goods sold for 2009? Purchases Selling and Administrative Expenses Merchandising inventory, 1/1/2009 Merchandising inventory, 12/31/2009 $126,000 90,000 14,000 10,000 250,000 Sales Revenue $140,000 $124.000
total rev can replace that
2009 $34137 660 34797 CostPlus Company Income Statements 2008 Net Sales $31621 Membership Fees 543 Total Revenue 32164 Operating expenses Merchandise Costs 28322 SG&A 2615 Depreciation 190 Interest Expense Total Operating Expenses 31166 Interest Income Taxable income 1052 Taxes 421 Net Income $631 30598 2966 241 39 32 54 33837 43 1003 401 $602 2009 CostPlus Company Balance Sheets 2008 $524 48 175 2490 $602 325 2739 Cash Short-term Investments Accounts Receivable Inventory Other Current...
Most questions answered within 3 hours.
-
Bruno Corporation is involved in the business of injection
molding of plastics. It is considering the...
asked 2 minutes ago -
What would be the vapor pressure of water at 96°C above a
solution made by dissolving...
asked 17 minutes ago -
Hydration of norbornene
Write the reaction. Discuss the intermediate. Explain how the
equilibrium in the reaction...
asked 24 minutes ago -
While Dime Community Bank is based in Brooklyn; management has
decided to focus its lending activity...
asked 23 minutes ago -
Suppose that a party wanted to enter an FRA that expires in 42
days and is...
asked 24 minutes ago -
ABC Ltd. estimated that a new store requires an initial
investment of $800,000. This new store...
asked 25 minutes ago -
1. Review the Nike’s marketing strategy. You must include the
company’s target market, possible market segmentation,...
asked 38 minutes ago -
One of the major advantages of ______________ is to enhance
security for private networks by keeping...
asked 44 minutes ago -
Book:
Title: Framework for
Marketing Management, 15th edition
Author/s: Philip T.
Kotler, Kevin Lane Keller
1....
asked 52 minutes ago -
Given Uber’s recent corporate turbulence and ongoing
initiatives, provide a holistic situational analysis of the
environment...
asked 56 minutes ago -
A sculptor has hung up a 42.0 kg horizontal rod of length 4.80 m
. One...
asked 59 minutes ago -
What is the purpose of the 2' hydroxyl group in RNA? What is
the reason this...
asked 1 hour ago