Cost accounting - I can't figure out #2 question
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Cost accounting - I can't figure out #2 question
Customer Profitability Olin Company manufactures and distributes...
Milden Company is a merchandiser that plans to sell 37,000 units during the next quarter at...
Milden Company is a merchandiser that plans to sell 37,000 units during the next quarter at a selling price of $55 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $27 per unit sold $184,000 per quarter 5% of sales $24,000 per quarter + $5.00 per unit sold $94,000 per quarter $10,400 per quarter $64,000 per...
I only need help with requirements 2 and 3, not 1 and 4. I can't figure...
I only need help with
requirements 2 and 3, not 1 and 4. I can't figure out the breakeven
points. Thank you!
Pittman Company is a small but growing manufacturer of telecommunications equipment. The company has no sales force of its own; rather, it relies completely on independent sales agents to market its products. These agents are paid a sales commission of 15% for all items sold. Barbara Cheney, Pittman's controller, has just prepared the company's budgeted income statement for...
Calculate the company's break-even point in sales dollars for the year 2020 if it hires its...
Calculate the company's break-even point in sales dollars for
the year 2020 if it hires its own sales force to replace the
network of agents.
Olin Beauty Corporation manufactures cosmetic products that are sold through a network of sales agents. The agents are paid a commission of 18% of sales. The forecast income statement for the year ending December 31, 2020, is as follows: $78,015,000 OLIN BEAUTY CORPORATION Income Statement Year Ending December 31, 2020 Sales Cost of goods sold...
How to calculate the net operating income for both and shipping expense? Milden Company is a...
How to calculate the net operating income for both and shipping
expense?
Milden Company is a merchandiser that plans to sell 35,000 units during the next quarter at a selling price of $56 per unit. The company also gathered the following cost estimates for the next quarter: 20 points Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $26 per unit sold $183,000 per quarter 6% of sales $57,000 per...
Kanban company estimated sales of 40 000 units at R6 each. Budgeted cost of goods sold...
Kanban company estimated sales of 40 000 units at R6 each. Budgeted cost of goods sold per unit includes R1,20 of direct materials, six minutes of direct labour time at R15 per hour, and unit overhead cost of R1,30. Kanban pays a sales commission of 10% of sales revenue. Fixed selling and administrative expenses are budgeted at R25 000. Prepare a budgeted income statement showing Sales, Less cost of sales =gross profit, less operating expenses, sales commission, fixed selling and...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow: First Second Third Fourth Quarter Quarter $229,000 114,500 114,500 22,900 Quarter $219,000 109,500 109,500 21,900 Quarter $279,000 139,500 139,500 27,900 Zotal Sales revenue $189,000 94,500 94,500 18,900 $ 75,600 $916,000 Cost of goods sold Gross profit Selling & administrative expenses 458,000 458,000 91,600 Net income $ 87,600 $366,400 $91,600 $111,600 Historically, cost of...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow Sales revenue Cost of goods sold Gross profit Selling & administrative expenses Net income First Quarter $182,000 91,000 91,000 18,200 $ 72,800 Second Quarter $212,069 106,eee 106,000 21,200 $ 84,800 Third Quarter $ 222,000 111,000 111, 22,200 $ 88,800 Fourth Quarter $ 272,000 136,000 136,00 27,200 $108,800 Total $380,000 444,000 444,000 88,888 $355,200...
4 the last tour quarters tollOw Second Quarter $ 207,000 103,500 103,500 Third Quarter 217,000 108,500...
4
the last tour quarters tollOw Second Quarter $ 207,000 103,500 103,500 Third Quarter 217,000 108,500 108,500 First Fourth Quarter 177,000 Quarter 267,000 133,500 133,50e Total $868,000 434,e00 434,000 Sales revenue Cost of goods sold Gross profit Selling & administrative expenses 88,500 88,500 17,76 20,700 21,70e 26,700 86,800 $ 82,800 $ 86,800 $70,800 $106,800 $347,200 Net income Historically, cost of goods sold is about 50 percent of sales revenue. Selling and administrative expenses are about 10 percent of sales revenue....
Resources: Financial Accounting: Tools for Business Decision Making Scenario: An inexperienced accountant prepared this condensed income...
Resources: Financial Accounting: Tools for Business Decision Making Scenario: An inexperienced accountant prepared this condensed income statement for Simon Company, a retail firm that has been in business for a number of years. SIMON COMPANY Income Statement For the Year Ended December 31, 2017 Revenues Net sales $850,000 Other revenues 22,000 872,000 Cost of goods sold 555,000 Gross profit 317,000 Operating expenses Selling expenses 109,000 Administrative expenses 103,000 212,000 Net earnings $105,000 As an experienced, knowledgeable accountant, you review the...
Wesley Power Tools manufactures a wide variety of tools and accessories. One of its more popular...
Wesley Power Tools manufactures a wide variety of tools and
accessories. One of its more popular items is a cordless power
handisaw. Each handisaw sells for $60. Wesley expects the following
unit sales:
January
2,200
February
2,400
March
2,800
April
2,500
May
2,000
Wesley’s ending finished goods inventory policy is 20 percent of
the next month’s sales.
Suppose each handisaw takes approximately 0.65 hours to
manufacture, and Wesley pays an average labor wage of $14.50 per
hour.
Each handisaw requires...
Milden Company is a merchandiser that plans to sell 37,000 units during the next quarter at a selling price of $55 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $27 per unit sold $184,000 per quarter 5% of sales $24,000 per quarter + $5.00 per unit sold $94,000 per quarter $10,400 per quarter $64,000 per...
I only need help with
requirements 2 and 3, not 1 and 4. I can't figure out the breakeven
points. Thank you!
Pittman Company is a small but growing manufacturer of telecommunications equipment. The company has no sales force of its own; rather, it relies completely on independent sales agents to market its products. These agents are paid a sales commission of 15% for all items sold. Barbara Cheney, Pittman's controller, has just prepared the company's budgeted income statement for...
Calculate the company's break-even point in sales dollars for
the year 2020 if it hires its own sales force to replace the
network of agents.
Olin Beauty Corporation manufactures cosmetic products that are sold through a network of sales agents. The agents are paid a commission of 18% of sales. The forecast income statement for the year ending December 31, 2020, is as follows: $78,015,000 OLIN BEAUTY CORPORATION Income Statement Year Ending December 31, 2020 Sales Cost of goods sold...
How to calculate the net operating income for both and shipping
expense?
Milden Company is a merchandiser that plans to sell 35,000 units during the next quarter at a selling price of $56 per unit. The company also gathered the following cost estimates for the next quarter: 20 points Cost Cost of good sold Advertising expense Sales commissions Shipping expense Administrative salaries Insurance expense Depreciation expense Cost Formula $26 per unit sold $183,000 per quarter 6% of sales $57,000 per...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow: First Second Third Fourth Quarter Quarter $229,000 114,500 114,500 22,900 Quarter $219,000 109,500 109,500 21,900 Quarter $279,000 139,500 139,500 27,900 Zotal Sales revenue $189,000 94,500 94,500 18,900 $ 75,600 $916,000 Cost of goods sold Gross profit Selling & administrative expenses 458,000 458,000 91,600 Net income $ 87,600 $366,400 $91,600 $111,600 Historically, cost of...
Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow Sales revenue Cost of goods sold Gross profit Selling & administrative expenses Net income First Quarter $182,000 91,000 91,000 18,200 $ 72,800 Second Quarter $212,069 106,eee 106,000 21,200 $ 84,800 Third Quarter $ 222,000 111,000 111, 22,200 $ 88,800 Fourth Quarter $ 272,000 136,000 136,00 27,200 $108,800 Total $380,000 444,000 444,000 88,888 $355,200...
4
the last tour quarters tollOw Second Quarter $ 207,000 103,500 103,500 Third Quarter 217,000 108,500 108,500 First Fourth Quarter 177,000 Quarter 267,000 133,500 133,50e Total $868,000 434,e00 434,000 Sales revenue Cost of goods sold Gross profit Selling & administrative expenses 88,500 88,500 17,76 20,700 21,70e 26,700 86,800 $ 82,800 $ 86,800 $70,800 $106,800 $347,200 Net income Historically, cost of goods sold is about 50 percent of sales revenue. Selling and administrative expenses are about 10 percent of sales revenue....
Wesley Power Tools manufactures a wide variety of tools and
accessories. One of its more popular items is a cordless power
handisaw. Each handisaw sells for $60. Wesley expects the following
unit sales:
January
2,200
February
2,400
March
2,800
April
2,500
May
2,000
Wesley’s ending finished goods inventory policy is 20 percent of
the next month’s sales.
Suppose each handisaw takes approximately 0.65 hours to
manufacture, and Wesley pays an average labor wage of $14.50 per
hour.
Each handisaw requires...
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