Assume sales of $4,356,000; development costs of $1,850,000; and operating expenses of $2,400,000. Taxable income is:...
Assume sales of $4,356,000; development costs of $1,850,000; and operating expenses of $2,400,000. Taxable income is:
1) ($106,000).
2) $2,506,000.
3) 106,000.
4) 1,956,000.
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Assume sales of $4,356,000; development costs of $1,850,000; and
operating expenses of $2,400,000. Taxable income is:...
Question 50 If sales are $820,000, variable costs are 55% of sales, and operating income is...
Question 50 If sales are $820,000, variable costs are 55% of sales, and operating income is $260,000, what is the contribution margin ratio? a. 55% b. 32% c. 45% d. 62% 1 points Question 51 The three most common cost behavior classifications are a. variable costs, period costs, and differential costs b. variable costs, product costs, and sunk costs c. fixed costs, variable costs, and mixed costs d. variable costs, sunk costs, and opportunity costs 1 points Question 52 In...
The Dakota Corporation had a 2021 taxable income of $7,700,000 from operations after all operating costs...
The Dakota Corporation had a 2021 taxable income of $7,700,000 from operations after all operating costs but before (1) interest charges of $1,400,000, (2) dividends received or $98,000. (3) dividends paid of $860,000, and (4) Income taxes (the firm's tax rate is 21 percent) a. Calculate Dakota's Income tax liability. (Round your answer to the nearest dollar amount.) Income tax liability b. What are Dakota's average and marginal tax rates on taxable income? (Round your answers to 2 decimal places.)...
Sales (45,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Total $360,000 225,000 135,000...
Sales (45,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Total $360,000 225,000 135,000 40,000 $ 95,000 Per Unit $8.00 5.00 $ 3.00 Required: (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 13%? 2. What is the revised net operating income if the selling price decreases by $1.10 per unit and the number of units sold increases by 15%? 3. What is the revised net operating income if the...
Sales Variable expenses Contribution margin Traceable fixed expenses Segment margin Common fixed expenses Net operating income...
Sales Variable expenses Contribution margin Traceable fixed expenses Segment margin Common fixed expenses Net operating income Total Company $1,020,000 765,000 255,000 156,000 99,000 65,000 34,000 East $ 680,000 44000 136,000 58.000 $ 78,000 $340,000 221,000 119,000 98,000 $ 21.000 Required: 1. Compute the companywide break-even point in dollar sales. 2. Compute the break-even point in dollar sales for the East region. 3. Compute the break-even point in dollar sales for the West region. 4. Prepare a new segmented income statement...
(d) Assume that variable costs increase to 45% of the current sales price and fixed costs...
(d) Assume that variable costs increase to 45% of the current sales price and fixed costs increase by $12,000 per month. If Sunland were to raise its sales price 10% to cover these new costs, but the number of blankets sold were to drop by 6%, what would be the new annual operating income? (Round sales price to 2 decimal places, eg. 52.75 and final answer to decimal places, eg. 5,275.) The new annual operating income Toython 3 of 4...
Check my work Sales (58,000 balls) Variable expenses Contribution margin Fixed expenses Net operating income $...
Check my work Sales (58,000 balls) Variable expenses Contribution margin Fixed expenses Net operating income $ 1,450,000 870,000 580,000 374,000 $ 206,000 6.25 points eBook Print References Required: 1. Compute (a) last year's CM ratio and the break-even point in balls, and (b) the degree of operating leverage at last year's sales level. 2. Due to an increase in labor rates, the company estimates that next year's variable expenses will increase by $3.00 per ball. If this change takes place...
Income statement 2014 $1,500,000 750,000 Sales COGS Gross profits Operating Expenses Selling expenses General admin. expenses...
Income statement 2014 $1,500,000 750,000 Sales COGS Gross profits Operating Expenses Selling expenses General admin. expenses Lease expenses Depreciation expense total operating expenses 100,000 50,000 10,000 40,000 Operating profits Interest 20,000 Net profits before taxes Taxes Net profits after taxes Preferred dividends 10,000 Earnings available for common stockholders Tax table Range of taxable income 100,000-335,000 335,000-10,000,000 Tax calculation 22,250 + (39% x amount over 100,000) 113,900 + ( 34% x amount over 335,000)
Selling, general, and administrative expenses $ 106,000 Accounts payable 170,000 Research and development expenses 77,000 Loss...
Selling, general, and administrative expenses $ 106,000 Accounts payable 170,000 Research and development expenses 77,000 Loss from discontinued operations, net of tax savings of $8,000 24,000 Provision for income taxes 35,000 Net sales 948,000 Interest expense 97,000 Net cash provided by operations 296,000 Cost of goods sold 521,000 Required: a. Calculate the operating income for Spenser Co. for the year ended December 31, 2019. b. Calculate the company's net income for 2019.
You firm the following income statement items: sales of $50,100 costs (expenses) of $43,700 income tac...
You firm the following income statement items: sales of $50,100
costs (expenses) of $43,700 income tac of $1,700 depreciation of
$1,300 interesf expense of $750. What is net income?
Time Left:0:40:15 Mikala Baburam: Attempt 1 4) Minimizing risk of the firm Question 2 (2 points) Your firm has the following income statement items: Sales of $50,100, costs (expenses) of $43,700, income tax of $1,700, depreciation of $1,300, interest expense of $750. What is net income? 1) $4,700 O2) $4,050 3)...
7 Sales Variable expenses Contribution margin Fixed expenses Net operating income Total $ 310,000 217,000 93,000...
7 Sales Variable expenses Contribution margin Fixed expenses Net operating income Total $ 310,000 217,000 93,000 75,000 $ 18,000 Per Unit $20 14 $ 6 25 oints eBook Required: 1. What is the monthly break-even point in unit sales and in dollar sales? 2. Without resorting to computations, what is the total contribution margin at the break-even point? 3-a. How many units would have to be sold each month to attain a target profit of $34,200? 3-b. Verify your answer...
The Dakota Corporation had a 2021 taxable income of $7,700,000 from operations after all operating costs but before (1) interest charges of $1,400,000, (2) dividends received or $98,000. (3) dividends paid of $860,000, and (4) Income taxes (the firm's tax rate is 21 percent) a. Calculate Dakota's Income tax liability. (Round your answer to the nearest dollar amount.) Income tax liability b. What are Dakota's average and marginal tax rates on taxable income? (Round your answers to 2 decimal places.)...
Sales (45,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Total $360,000 225,000 135,000 40,000 $ 95,000 Per Unit $8.00 5.00 $ 3.00 Required: (Consider each case independently): 1. What is the revised net operating income if unit sales increase by 13%? 2. What is the revised net operating income if the selling price decreases by $1.10 per unit and the number of units sold increases by 15%? 3. What is the revised net operating income if the...
Sales Variable expenses Contribution margin Traceable fixed expenses Segment margin Common fixed expenses Net operating income Total Company $1,020,000 765,000 255,000 156,000 99,000 65,000 34,000 East $ 680,000 44000 136,000 58.000 $ 78,000 $340,000 221,000 119,000 98,000 $ 21.000 Required: 1. Compute the companywide break-even point in dollar sales. 2. Compute the break-even point in dollar sales for the East region. 3. Compute the break-even point in dollar sales for the West region. 4. Prepare a new segmented income statement...
(d) Assume that variable costs increase to 45% of the current sales price and fixed costs increase by $12,000 per month. If Sunland were to raise its sales price 10% to cover these new costs, but the number of blankets sold were to drop by 6%, what would be the new annual operating income? (Round sales price to 2 decimal places, eg. 52.75 and final answer to decimal places, eg. 5,275.) The new annual operating income Toython 3 of 4...
Check my work Sales (58,000 balls) Variable expenses Contribution margin Fixed expenses Net operating income $ 1,450,000 870,000 580,000 374,000 $ 206,000 6.25 points eBook Print References Required: 1. Compute (a) last year's CM ratio and the break-even point in balls, and (b) the degree of operating leverage at last year's sales level. 2. Due to an increase in labor rates, the company estimates that next year's variable expenses will increase by $3.00 per ball. If this change takes place...
Income statement 2014 $1,500,000 750,000 Sales COGS Gross profits Operating Expenses Selling expenses General admin. expenses Lease expenses Depreciation expense total operating expenses 100,000 50,000 10,000 40,000 Operating profits Interest 20,000 Net profits before taxes Taxes Net profits after taxes Preferred dividends 10,000 Earnings available for common stockholders Tax table Range of taxable income 100,000-335,000 335,000-10,000,000 Tax calculation 22,250 + (39% x amount over 100,000) 113,900 + ( 34% x amount over 335,000)
You firm the following income statement items: sales of $50,100
costs (expenses) of $43,700 income tac of $1,700 depreciation of
$1,300 interesf expense of $750. What is net income?
Time Left:0:40:15 Mikala Baburam: Attempt 1 4) Minimizing risk of the firm Question 2 (2 points) Your firm has the following income statement items: Sales of $50,100, costs (expenses) of $43,700, income tax of $1,700, depreciation of $1,300, interest expense of $750. What is net income? 1) $4,700 O2) $4,050 3)...
7 Sales Variable expenses Contribution margin Fixed expenses Net operating income Total $ 310,000 217,000 93,000 75,000 $ 18,000 Per Unit $20 14 $ 6 25 oints eBook Required: 1. What is the monthly break-even point in unit sales and in dollar sales? 2. Without resorting to computations, what is the total contribution margin at the break-even point? 3-a. How many units would have to be sold each month to attain a target profit of $34,200? 3-b. Verify your answer...
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