Homework Answers
| Sales | 280,000 |
| Less:Variable cost(280,000*60%) | $168,000 |
| Contribution margin | $112,000 |
| Less:Fixed cost(balance)(112000-51000) | $61,000 |
| Net operating income | $51,000 |
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Question 13 The Norman Company recorded net operating income of $51,000 on sales of $280,000. If...
QUESTION 27 When sales dollars increase, the net income of a company with a high degree...
QUESTION 27 When sales dollars increase, the net income of a company with a high degree of operating leverage will increase more quickly than in a company with a lower operating leverage. However, when sales dollars decrease, the net income of a company with a high degree of operating leverage will decrease more quickly than in a company with a lower operating leverage. True O False QUESTION 28 Jen & Berry's currently sells 100,000 pints of ice cream per month...
Question Completion Status: QUESTION 13 Andrew's net Income was $280,000; its total assets were $1,050,000; and...
Question Completion Status: QUESTION 13 Andrew's net Income was $280,000; its total assets were $1,050,000; and its net sales were $3,500,000. Calculate the company's profit margin ratio. TT T Arial 3 (12pt) T. E . Qix Path:p Words:0 Click Save and submit to move and submit. Click Save All A TS to deal stor Save All Answ hulu
how do you find net income for these 4? Exercise 6-13 Changes in Selling Price, Sales...
how do you find net income for these 4?
Exercise 6-13 Changes in Selling Price, Sales Volume, Variable Cost per Unit, and Total Fixed Costs [LO6-1, LO6-4] Miller Company's contribution format income statement for the most recent month is shown below: Sales (39,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Total $ 312,000 195,000 117,000 44,000 $ 73,000 Per Unit $8.00 5.00 $3.00 Required: (Consider each case independently): 1. What is the revised net operating income if...
Question 10 Vaughn Company reports the following operating results for the month of August: sales $315,000...
Question 10
Vaughn Company reports the following operating results for the
month of August: sales $315,000 (units 5,000); variable costs
$219,000; and fixed costs $71,600. Management is considering the
following independent courses of action to increase net
income.
Compute the net income to be earned under each alternative.
1. Increase selling price by 10% with no change in
total variable costs or sales volume.
Net income
$
2. Reduce variable costs to 60% of
sales.
Net income
$
3. Reduce...
Margin of safety ratio. 4. Net operating income ercentage. 10-13 Effect of taxes on break-even and...
Margin of safety ratio. 4. Net operating income ercentage. 10-13 Effect of taxes on break-even and target volume Yosemite Enterprises desires to earn an after-tax income of $150,000 It has fixed costs of $1,000,000. a unit sales price o! $500, and unit variable cosEs of $200. The company is in the 30% tax bracket. 1. How many dol ars of sales revenue must be earned to achieve the after-tax profit of $150.000? 2. How many dollars of revenue would have...
Estimated change in net operating income
Last month when Holiday Creations, Inc., sold 50,000 units, total sales were $200,000, total variable expenses were $120,000, and fixed expenses were $65,000.Estimate the change in the company's net operating income if it were to increase its total sales by $1,000
E6-3 Barnes Company reports the following operating results for the month of August: sales Compute net...
E6-3 Barnes Company reports the following operating results for the month of August: sales Compute net income under different alternatives (units 5,000): variable costs $210,000; and fixed costs $75,000. M $325,000 independent courses of action to increase net income. anagement is considering the following Increase selling price by 10% with no change in total variable costs or sales volume. Reduce variable costs to 58% of sales 2 3 Instructions Compute the net income to be earned under each alternative. Which...
Question 13 The following is Allison Corporation's contribution format income statement for last month: Sales: $900,000...
Question 13 The following is Allison Corporation's contribution format income statement for last month: Sales: $900,000 Variable Expenses: $600,000 Contribution Margin: $300,000 Fixed Expenses: $150,000 Net Operating Income: $ ?????? The company has no beginning or ending inventories. The company produced and sold 15,000 units last month. as no beginning or ending inventories. The company produced and sold 10,000 units last month. What is the Company's Break-Even Sales in Units? 3750 640,000 7,500 450,000
The CVP income statements shown below are available for Armstrong Company and Contador Company. Sales Variable...
The CVP income statements shown below are available for Armstrong Company and Contador Company. Sales Variable costs Contribution margin Fixed costs Net income Armstrong Co. $491,000 243,000 248,000 148,000 $100,000 Contador Co. $491,000 51,000 440,000 340,000 $100,000 $100, (al) Compute the degree of operating leverage for each company. (Round answers to 2 decimal places, e.g. 1.15.) Degree of Operating Leverage Armstrong Contador (b) Assuming that sales revenue increases by 10%, prepare a variable costing income statement for each company. Armstrong...
Exercise 19-03 Barnes Company reports the following operating results for the month of August: sales $315,000...
Exercise 19-03 Barnes Company reports the following operating results for the month of August: sales $315,000 (units 5,000); variable costs $224,000; and fixed costs $71,900. Management is considering the following independent courses of action to increase net income. Compute the net income to be earned under each alternative. 1. Increase selling price by 10% with no change in total variable costs or sales volume. Net income 2. Reduce variable costs to 60% of sales. Net income 3. Reduce fixed costs...
QUESTION 27 When sales dollars increase, the net income of a company with a high degree of operating leverage will increase more quickly than in a company with a lower operating leverage. However, when sales dollars decrease, the net income of a company with a high degree of operating leverage will decrease more quickly than in a company with a lower operating leverage. True O False QUESTION 28 Jen & Berry's currently sells 100,000 pints of ice cream per month...
Question Completion Status: QUESTION 13 Andrew's net Income was $280,000; its total assets were $1,050,000; and its net sales were $3,500,000. Calculate the company's profit margin ratio. TT T Arial 3 (12pt) T. E . Qix Path:p Words:0 Click Save and submit to move and submit. Click Save All A TS to deal stor Save All Answ hulu
how do you find net income for these 4?
Exercise 6-13 Changes in Selling Price, Sales Volume, Variable Cost per Unit, and Total Fixed Costs [LO6-1, LO6-4] Miller Company's contribution format income statement for the most recent month is shown below: Sales (39,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Total $ 312,000 195,000 117,000 44,000 $ 73,000 Per Unit $8.00 5.00 $3.00 Required: (Consider each case independently): 1. What is the revised net operating income if...
Question 10
Vaughn Company reports the following operating results for the
month of August: sales $315,000 (units 5,000); variable costs
$219,000; and fixed costs $71,600. Management is considering the
following independent courses of action to increase net
income.
Compute the net income to be earned under each alternative.
1. Increase selling price by 10% with no change in
total variable costs or sales volume.
Net income
$
2. Reduce variable costs to 60% of
sales.
Net income
$
3. Reduce...
Margin of safety ratio. 4. Net operating income ercentage. 10-13 Effect of taxes on break-even and target volume Yosemite Enterprises desires to earn an after-tax income of $150,000 It has fixed costs of $1,000,000. a unit sales price o! $500, and unit variable cosEs of $200. The company is in the 30% tax bracket. 1. How many dol ars of sales revenue must be earned to achieve the after-tax profit of $150.000? 2. How many dollars of revenue would have...
E6-3 Barnes Company reports the following operating results for the month of August: sales Compute net income under different alternatives (units 5,000): variable costs $210,000; and fixed costs $75,000. M $325,000 independent courses of action to increase net income. anagement is considering the following Increase selling price by 10% with no change in total variable costs or sales volume. Reduce variable costs to 58% of sales 2 3 Instructions Compute the net income to be earned under each alternative. Which...
Question 13 The following is Allison Corporation's contribution format income statement for last month: Sales: $900,000 Variable Expenses: $600,000 Contribution Margin: $300,000 Fixed Expenses: $150,000 Net Operating Income: $ ?????? The company has no beginning or ending inventories. The company produced and sold 15,000 units last month. as no beginning or ending inventories. The company produced and sold 10,000 units last month. What is the Company's Break-Even Sales in Units? 3750 640,000 7,500 450,000
The CVP income statements shown below are available for Armstrong Company and Contador Company. Sales Variable costs Contribution margin Fixed costs Net income Armstrong Co. $491,000 243,000 248,000 148,000 $100,000 Contador Co. $491,000 51,000 440,000 340,000 $100,000 $100, (al) Compute the degree of operating leverage for each company. (Round answers to 2 decimal places, e.g. 1.15.) Degree of Operating Leverage Armstrong Contador (b) Assuming that sales revenue increases by 10%, prepare a variable costing income statement for each company. Armstrong...
Exercise 19-03 Barnes Company reports the following operating results for the month of August: sales $315,000 (units 5,000); variable costs $224,000; and fixed costs $71,900. Management is considering the following independent courses of action to increase net income. Compute the net income to be earned under each alternative. 1. Increase selling price by 10% with no change in total variable costs or sales volume. Net income 2. Reduce variable costs to 60% of sales. Net income 3. Reduce fixed costs...
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