Homework Answers
Question 1:
The correct answer is $108,000.
Supporting calculations:
| Sales Revenue (1,500 units * $120 per unit) | $180,000 |
| Less: Variable costs (1,500 units * $48 per unit) | ($72,000) |
| Contribution Margin | $108,000 |
Therefore, contribution margin is $108,000.
Question 2:
The correct answer is 312.5 units.
Supporting calculations:
| Fixed costs (a) | $6,000 |
| Target profit (b) | $4,000 |
| Contribution margin per unit (b) ($100 - $68) (c ) | $32 |
| Target profit in units (a + b / c) | 312.5 |
Note: As per HOMEWORKLIB RULES, the first multiple choice question should be answered but i have answered first two questions. Hence, please post the remaining questions separately. Please do not give me the negative rating for not answering all the questions as i have just followed HOMEWORKLIB RULES.
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Question 1 Kelly's Karts, LLC reported the following data: Sales quantity 1,500 units; Sales $120 per...
Question 3 2 pts Kelly's Karts, LLC reported the following data: Sales quantity 1,000 units; total...
Question 3 2 pts Kelly's Karts, LLC reported the following data: Sales quantity 1,000 units; total sales $90,000; total variable costs $54,000; Fixed costs $28,000. Construct a Contribution Margin Income Statement and calculate the missing per unit amounts. What is the contribution margin per unit? $100 O $90 $54 $36 Question 5 2 Kelly's Karts, LLC reported the following data: Sales quantity 1,500 units; Sales $120 per unit; Variable costs $48 per unit; Fixed costs $93,000. What is the contribution...
Question 1 If the number of units sold increases (quantity increases), which of the following will...
Question 1 If the number of units sold increases (quantity increases), which of the following will NOT change? Sales O Variable costs O Fixed costs Contribution margin Question 2 Kelly's Karts, LLC reported the following data: Sales quantity 1,000 units; Sales $750 per unit; Variable costs $405 per unit; Fixed costs $258,750. What is breakeven in sales dollars? $750,000 $395,000 $345,000 $562,500 Question 3 2 pt Kelly's Karts, LLC reported the following Contribution Margin Income Statement. What is the effect...
Question 1 2 pts Kelly's Karts, LLC reported the following Contribution Margin Income Statement. What is...
Question 1 2 pts Kelly's Karts, LLC reported the following Contribution Margin Income Statement. What is the effect on Net Income if the sales quantity increases 200 units, sales price decreases $10, and monthly advertising expense increases by $5,000? Q1000 $60 Sales $60,000 Variable costs 35,000 Contribution margin $25,000 Fixed costs 17,500 Net Income $ 7,500 35 $25 O $4,500 decrease $12,000 increase O $12,000 decrease $4,500 increase
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales...
Todrick Company is a merchandiser that reported the following
information based on 1,000 units sold:
Sales
$
465,000
Beginning merchandise inventory
$
31,000
Purchases
$
310,000
Ending merchandise inventory
$
15,500
Fixed selling expense
$
?
Fixed administrative expense
$
18,600
Variable selling expense
$
23,250
Variable administrative expense
$
?
Contribution margin
$
93,000
Net operating income
$
27,900
Prepare a contribution format income statement.
Prepare a traditional format income statement.
Calculate the selling price per unit, the variable...
Bauer Manufacturing Company reported the following data regarding a product it manufactures and sells. The sales...
Bauer Manufacturing Company reported the following data regarding a product it manufactures and sells. The sales price is $100. Variable costs Manufacturing $ 30 per unit Selling 12 per unit Fixed costs Manufacturing $ 360,000 per year Selling and administrative $ 162,000 per year Required Use the per-unit contribution margin approach to determine the break-even point in units and dollars. Use the per-unit contribution margin approach to determine the level of sales in units and dollars required to obtain a...
Bauer Manufacturing Company reported the following data regarding a product it manufactures and sells. The sales...
Bauer Manufacturing Company reported the following data regarding a product it manufactures and sells. The sales price is $100. Variable costs Manufacturing $ 30 per unit Selling 12 per unit Fixed costs Manufacturing $ 360,000 per year Selling and administrative $ 162,000 per year Required Use the per-unit contribution margin approach to determine the break-even point in units and dollars. Use the per-unit contribution margin approach to determine the level of sales in units and dollars required to obtain a...
compute the missing amounts for the following table ent, X%.) Data Table Sales price per unit...
compute the missing amounts for the following table
ent, X%.) Data Table Sales price per unit Variable costs per unit Total fixed costs Target profit Calculate: Contribution margin per unit 1,200 $ 125 $ 5,660 900504,528 81,000 67,500 1,584,800 261,000 1,500,000 1,324,440 Contribution margin ratio Required units to break even Required sales dollars to break even Required units to achieve target profit Print Print Done Done
Bridgeport Co., a manufacturer of rain barrels, had the following data for 2016. Sales 3,300 units...
Bridgeport Co., a manufacturer of rain barrels, had the
following data for 2016.
Sales
3,300
units
Sales price
$100
per unit
Variable costs
$37
per unit
Fixed costs
$172,557
(a)
What is the contribution margin ratio? (Round answer to
0 decimal places, e.g. 5,275.)
Contribution margin ratio
%
Click if you would like to Show Work for this
question:
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 465,000 Beginning merchandise inventory $ 31,000 Purchases $ 310,000 Ending merchandise inventory $ 15,500 Fixed selling expense $ ? Fixed administrative expense $ 18,600 Variable selling expense $ 23,250 Variable administrative expense $ ? Contribution margin $ 93,000 Net operating income $ 27,900 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price...
Munoz Manufacturing Company reported the following data regarding a product it manufactures and sells. The sales...
Munoz Manufacturing Company reported the following data
regarding a product it manufactures and sells. The sales price is
$46.
Required
Use the per-unit contribution margin approach to determine the
break-even point in units and dollars.
Use the per-unit contribution margin approach to determine the
level of sales in units and dollars required to obtain a profit of
$182,500.
Suppose that variable selling costs could be eliminated by
employing a salaried sales force. If the company could sell 21,600
units, how...
Question 3 2 pts Kelly's Karts, LLC reported the following data: Sales quantity 1,000 units; total sales $90,000; total variable costs $54,000; Fixed costs $28,000. Construct a Contribution Margin Income Statement and calculate the missing per unit amounts. What is the contribution margin per unit? $100 O $90 $54 $36 Question 5 2 Kelly's Karts, LLC reported the following data: Sales quantity 1,500 units; Sales $120 per unit; Variable costs $48 per unit; Fixed costs $93,000. What is the contribution...
Question 1 If the number of units sold increases (quantity increases), which of the following will NOT change? Sales O Variable costs O Fixed costs Contribution margin Question 2 Kelly's Karts, LLC reported the following data: Sales quantity 1,000 units; Sales $750 per unit; Variable costs $405 per unit; Fixed costs $258,750. What is breakeven in sales dollars? $750,000 $395,000 $345,000 $562,500 Question 3 2 pt Kelly's Karts, LLC reported the following Contribution Margin Income Statement. What is the effect...
Question 1 2 pts Kelly's Karts, LLC reported the following Contribution Margin Income Statement. What is the effect on Net Income if the sales quantity increases 200 units, sales price decreases $10, and monthly advertising expense increases by $5,000? Q1000 $60 Sales $60,000 Variable costs 35,000 Contribution margin $25,000 Fixed costs 17,500 Net Income $ 7,500 35 $25 O $4,500 decrease $12,000 increase O $12,000 decrease $4,500 increase
Todrick Company is a merchandiser that reported the following
information based on 1,000 units sold:
Sales
$
465,000
Beginning merchandise inventory
$
31,000
Purchases
$
310,000
Ending merchandise inventory
$
15,500
Fixed selling expense
$
?
Fixed administrative expense
$
18,600
Variable selling expense
$
23,250
Variable administrative expense
$
?
Contribution margin
$
93,000
Net operating income
$
27,900
Prepare a contribution format income statement.
Prepare a traditional format income statement.
Calculate the selling price per unit, the variable...
compute the missing amounts for the following table
ent, X%.) Data Table Sales price per unit Variable costs per unit Total fixed costs Target profit Calculate: Contribution margin per unit 1,200 $ 125 $ 5,660 900504,528 81,000 67,500 1,584,800 261,000 1,500,000 1,324,440 Contribution margin ratio Required units to break even Required sales dollars to break even Required units to achieve target profit Print Print Done Done
Bridgeport Co., a manufacturer of rain barrels, had the
following data for 2016.
Sales
3,300
units
Sales price
$100
per unit
Variable costs
$37
per unit
Fixed costs
$172,557
(a)
What is the contribution margin ratio? (Round answer to
0 decimal places, e.g. 5,275.)
Contribution margin ratio
%
Click if you would like to Show Work for this
question:
Munoz Manufacturing Company reported the following data
regarding a product it manufactures and sells. The sales price is
$46.
Required
Use the per-unit contribution margin approach to determine the
break-even point in units and dollars.
Use the per-unit contribution margin approach to determine the
level of sales in units and dollars required to obtain a profit of
$182,500.
Suppose that variable selling costs could be eliminated by
employing a salaried sales force. If the company could sell 21,600
units, how...
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