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write your answer in the space provided or on a separate sheet of paper. 26) Randy's...
342 Chapter 7 Cost-Volume-Profit Analysis Exercises All applicable Exercises are available with McGraw-Hill's Connect Accounting. Cornect...
342 Chapter 7 Cost-Volume-Profit Analysis Exercises All applicable Exercises are available with McGraw-Hill's Connect Accounting. Cornect JACCOUNTING Exercise 7-23 Fill in Blanks; Basic CVP Relationships (LO 1,2) Fill in the missing data for each of the following independent cases. Sales Variable Total Fixed Operating Income Break-Even Sales Revenue Revenue Expenses Contribution Margin Expenses 1. $40,000 ? $30,000 ? $40,000 $ 80,000 ? $15,000 80,000 3. 40,000 80,000 $50,000 38,000 ? 4. 110,000 22,000 ? Exercise 7-24 Pizza Delivery Business, Basic...
342 Chapter 7 Cost-Volume-Profit Analysis All applicable Exercises are available with McGraw-Hill's Connect Accounting C C...
342 Chapter 7 Cost-Volume-Profit Analysis All applicable Exercises are available with McGraw-Hill's Connect Accounting C C CL ACCOUNTING Exercises Exercise 7-23 Fill in Blanks; Basic CVP Relationships (LO 1,2) Fill in the missing data for each of the following independent cases. Sales Revenue Total Contribution Margin Operating Income - Not Variable Expenses $40,000 ? 40,000 22,000 Fixed Expenses $30,000 ? $ 80,000 Break-Even Sales Revenue $40,000 80,000 $15,000 80,000 ? $50,000 38,000 ? 110,000 ? Exercise 7-24 Pizza Delivery Business...
please answer one and two. Problem 1 XYZ Restaurant, only sells pepperoni pizzas. The restaurant incurs...
please answer one and two.
Problem 1 XYZ Restaurant, only sells pepperoni pizzas. The restaurant incurs the following expenses: Each pizza sells for $10.00/each. Fixed Costs per month Variable Costs per pizza Flour 0.50 General Labor Rent 1,500 3,000 3.00 Cheese Peppero ni Utilities 450 2.00 Please submit your answers to the following questions: 1. What is the contribution margin? 2. How many pizzas must the restaurant sell in order to break even every month? 3. If XYZ Restaurant wants...
You have been asked by Pat of Pat’s Pizza Place to help create several financial metrics...
You have been asked by Pat of Pat’s Pizza Place to help create several financial metrics for the business. Pat sells pizzas at an average price of $10.00 per pizza. Ingredients and packaging cost the business $4.00 per pizza. The labor cost to make a pizza has been estimated to be about $2.00 per pizza. Pat’s Pizza has fixed costs (building rent, utilities, insurance, advertising, equipment, payments, etc.) of $54,000 per year. Pat has asked you to answer the following...
A friend of your parents owns a pizza restaurant. The owner is disappointed with his restaurant’s...
A friend of your parents owns a pizza restaurant. The owner is disappointed with his restaurant’s performance. Your parents tell him that you are taking Strategic Cost Accounting at Loyola and maybe you can help him figure out what might be the issue. The restaurant sales have been averaging 3,000 pizza sales (at $10 each) per month, but the cooks and wait staff can make and serve 5,000 pizzas per month The average ingredient cost for each pizza is $2.00....
Pizza Palace is a restaurant chain with operations across North America. The company operates using typical...
Pizza Palace is a restaurant chain with operations
across North America. The company operates using typical fast food
operations, however is considering adding food trucks in order to
increase business. Below is the CVP Income statement for Pizza
Palace for the 1st quarter of 2020.
Pizza Palace would like to remain using the same
supplier for its dough; however, the supplier is increasing its
prices by $1/pound of dough. Each pound of dough makes 4 small
pizzas (Hint: You will...
bubble in your answer in the space provided on the right side of the scantron. ALSO,...
bubble in your answer in the space provided on the right side of the scantron. ALSO, cirele your hoice questions (3.2 points each). Select the BEST answer for each question and answer on this test paper. 2-4 "Unless the problem otherwise indicates, assume that sales and production have been equal for this and the prior period." 1. Which of the following assumption is used in cost-volume-profit analysis? A) All costs are classified as fixed or variable B) The total cost...
Rundle Company produces a product that has a variable cost of $26 per unit and a...
Rundle Company produces a product that has a variable cost of $26 per unit and a sales price of $58 per unit. The company’s annual fixed costs total $660,000. It had net income of $260,000 in the previous year. In an effort to increase the company’s market share, management is considering lowering the selling price to $51 per unit. Required If Rundle desires to maintain net income of $260,000, how many additional units must it sell to justify the price...
Show All Your Works For Your Response: Fill Out 3 White Blanks Below Yummy! is a...
Show All Your Works For Your Response: Fill Out 3 White Blanks Below Yummy! is a specialty popcorn store. It offers two varieties of popcorn: plain and flavored. The flavors range from Caramel Popcorn to Dark Chocolate Drizzled Popcorn to White Cheddar Popcorn. The plain popcorn sells for $3.10 per box and costs $0.40 per box to make. The flavored popcorn sells for $3.90 per box and costs $2.70 per box to make. Yummy! has fixed costs per month of...
Blank space answer: 1) 122,137 / 337,913 / 522,648 / 308,434 2) low / high To...
Blank space answer:
1) 122,137 / 337,913 / 522,648 / 308,434
2) low / high
To be profitable, a firm has recover its costs. These costs include both its fixed and its variable costs. One way that a firm evaluates at what stage it would recover the invested costs is to calculate how many units or how much in dollar sales is necessary for the firm to earn a profit. Consider the case of Petrox Oil Co.: Petrox Oil Co....
342 Chapter 7 Cost-Volume-Profit Analysis Exercises All applicable Exercises are available with McGraw-Hill's Connect Accounting. Cornect JACCOUNTING Exercise 7-23 Fill in Blanks; Basic CVP Relationships (LO 1,2) Fill in the missing data for each of the following independent cases. Sales Variable Total Fixed Operating Income Break-Even Sales Revenue Revenue Expenses Contribution Margin Expenses 1. $40,000 ? $30,000 ? $40,000 $ 80,000 ? $15,000 80,000 3. 40,000 80,000 $50,000 38,000 ? 4. 110,000 22,000 ? Exercise 7-24 Pizza Delivery Business, Basic...
342 Chapter 7 Cost-Volume-Profit Analysis All applicable Exercises are available with McGraw-Hill's Connect Accounting C C CL ACCOUNTING Exercises Exercise 7-23 Fill in Blanks; Basic CVP Relationships (LO 1,2) Fill in the missing data for each of the following independent cases. Sales Revenue Total Contribution Margin Operating Income - Not Variable Expenses $40,000 ? 40,000 22,000 Fixed Expenses $30,000 ? $ 80,000 Break-Even Sales Revenue $40,000 80,000 $15,000 80,000 ? $50,000 38,000 ? 110,000 ? Exercise 7-24 Pizza Delivery Business...
please answer one and two.
Problem 1 XYZ Restaurant, only sells pepperoni pizzas. The restaurant incurs the following expenses: Each pizza sells for $10.00/each. Fixed Costs per month Variable Costs per pizza Flour 0.50 General Labor Rent 1,500 3,000 3.00 Cheese Peppero ni Utilities 450 2.00 Please submit your answers to the following questions: 1. What is the contribution margin? 2. How many pizzas must the restaurant sell in order to break even every month? 3. If XYZ Restaurant wants...
Pizza Palace is a restaurant chain with operations
across North America. The company operates using typical fast food
operations, however is considering adding food trucks in order to
increase business. Below is the CVP Income statement for Pizza
Palace for the 1st quarter of 2020.
Pizza Palace would like to remain using the same
supplier for its dough; however, the supplier is increasing its
prices by $1/pound of dough. Each pound of dough makes 4 small
pizzas (Hint: You will...
bubble in your answer in the space provided on the right side of the scantron. ALSO, cirele your hoice questions (3.2 points each). Select the BEST answer for each question and answer on this test paper. 2-4 "Unless the problem otherwise indicates, assume that sales and production have been equal for this and the prior period." 1. Which of the following assumption is used in cost-volume-profit analysis? A) All costs are classified as fixed or variable B) The total cost...
Show All Your Works For Your Response: Fill Out 3 White Blanks Below Yummy! is a specialty popcorn store. It offers two varieties of popcorn: plain and flavored. The flavors range from Caramel Popcorn to Dark Chocolate Drizzled Popcorn to White Cheddar Popcorn. The plain popcorn sells for $3.10 per box and costs $0.40 per box to make. The flavored popcorn sells for $3.90 per box and costs $2.70 per box to make. Yummy! has fixed costs per month of...
Blank space answer:
1) 122,137 / 337,913 / 522,648 / 308,434
2) low / high
To be profitable, a firm has recover its costs. These costs include both its fixed and its variable costs. One way that a firm evaluates at what stage it would recover the invested costs is to calculate how many units or how much in dollar sales is necessary for the firm to earn a profit. Consider the case of Petrox Oil Co.: Petrox Oil Co....
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