Homework Answers
| CVP income statement is provided below: | ||||
| Sales | $1,860,000 | |||
| Variable costs | ||||
| Cost of goods sold (430000+400000+420000) | $1,250,000 | |||
| Selling expenses | $118,000 | |||
| Administrative expenses | $27,000 | |||
| Total variable costs | $1,395,000 | |||
| Contribution margin | $465,000 | |||
| Fixed expenses | ||||
| Cost of goods sold | $230,000 | |||
| Selling expenses | $61,000 | |||
| Administrative expenses | $81,000 | |||
| Total fixed costs | $372,000 | |||
| Net income | $93,000 | |||
| Calculate variable costs per bottle | ||||
| No of bottle sold | 1860000/0.60 | |||
| No of bottle sold | 3100000 | |||
| Variable costs per bottle | Total variable costs/No of bottle sold | |||
| Variable costs per bottle | 1395000/3100000 | |||
| Variable costs per bottle | $0.45 | |||
| Calculate break-even point in units | Fixed costs/Contribution margin per unit | |||
| Calculate break-even point in units | 372000/(0.60-0.45) | |||
| Calculate break-even point in units | 2,480,000 | |||
| Calculate break-even point in dollar | Fixed costs/Contribution margin ratio | |||
| Calculate break-even point in dollar | 372000/((0.60-0.45)/0.60) | |||
| Calculate break-even point in dollar | $1,488,000 | |||
| Calculate contribution margin ratio | ||||
| Contribution margin ratio | Contribution margin/Sales price | |||
| Contribution margin ratio | (0.60-0.45)/0.60 | |||
| Contribution margin ratio | 25.00% | |||
| Calculate safety margin ratio | ||||
| Safety margin ratio | (Actual sales - break even sales)/Actual sales | |||
| Safety margin ratio | (1860000-1488000)/1860000 | |||
| Safety margin ratio | 20.00% | |||
| Calculate sales dollar required to earn net income | ||||
| Sales dollar required | Fixed costs + Required net income/Contribution margin ratio | |||
| Sales dollar required | (372000+250000)/25% | |||
| Sales dollar required | $2,488,000 | |||
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+ Ch. 18 Homework Question 4 of 4 View Policies Current Attempt in Progress Oricle Company...
Question 1 of 1 < > - 71 View Policies Current Attempt in Progress Ivanhoe Company...
Question 1 of 1 < > - 71 View Policies Current Attempt in Progress Ivanhoe Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,650,000 460,000 330,000 350,000 180,000 Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $76.500 51,000 21,000 99,000...
POlicies Current Attempt in Progress Ivanhoe Company bottles and distributes B-Lite, a diet soft drink. The...
POlicies Current Attempt in Progress Ivanhoe Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,950,000 470,000 340,000 Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $ 171,000 59,000 24,000 120,500 360,000 230,000 Prepare a CVP income statement for 2020 based...
Current Attempt in Progress Crane Company bottles and distributes B-Lite, a diet soft drink. The beverage...
Current Attempt in Progress Crane Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales Direct materials Direct labor Manufacturing overhead--variable Manufacturing overhead-fixed $2,000,000 520,000 390,000 410,000 300,000 Selling expenses--variable Selling expenses --fixed Administrative expenses--variable Administrative expenses-fixed $55,000 52,000 25,000 128,000 Prepare a CVP income statement for 2020 based on...
Question 1 Cullumber Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold...
Question 1 Cullumber Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. 1,800,000 Selling expenses-variable Sales Direct materials Direct labor 510,000 Selling expenses-f 390,000 Administrative expenses-variable 410,000 Administrative expenses-fixed 130,000 $105,000 62,000 25,000 96,000 Manufacturing overhead-fixed Prepare a CVP income statement for 2020 based on management's estimates CULLUMBER COMPANY CVP...
Pharoah Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60...
Pharoah Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,800,000 Selling expenses-variable Direct materials $93,000 65,000 27,000 Direct labor 410,000 400,000 420,000 150,000 Selling expenses-fixed Administrative expenses--variable Administrative expenses---fixed 55,000 Manufacturing overhead-variable Manufacturing overhead-fixed 150,000 Prepare a CVP income statement for 2020 based on management's estimates. PHAROAH COMPANY...
Blossom Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50...
Blossom Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. 1,500,000 Selling expenses-variable 90,000 Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed 410,000 Selling expenses-fixed 330,000 Administrative expenses-variable 20,000 350,000 Administrative expenses-fixed 150,000 50,000 40,000 BLOSSOM COMPANY CVP Income Statement (Estimated) For the Year Ending December 31,2020 Calculate variable...
Carla Vista Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for...
Carla Vista Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $110,000 $1,980,000 430,000 Selling expenses-variable Selling expenses-fixed Direct materials 62,000 Direct labor 400,000 Administrative expenses-variable 26,000 Manufacturing overhead-variable 420,000 Administrative expenses-fixed 133,200 Manufacturing overhead-fixed 280,000 Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal...
Crane Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50...
Crane Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,550,000 Selling expenses-variable $72,000 Direct materials 440,000 Selling expenses-fixed 53,000 Direct labor 340,000 Administrative expenses-variable 28,000 Manufacturing overhead-variable 360,000 Administrative expenses-fixed 48,500 Manufacturing overhead-fixed 100,000 Prepare a CVP income statement for 2020 based on management's estimates. CRANE COMPANY CVP...
Question 1 of 1 -/1 E Sales Sheridan Company bottles and distributes B-Lite, a diet soft...
Question 1 of 1 -/1 E Sales Sheridan Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. $1,980,000 Selling expenses-variable $79,000 Direct materials 500,000 Selling expenses-fixed 56,000 Direct labor 380,000 Administrative expenses-variable 27,000 Manufacturing overhead-variable 400,000 Administrative expenses-fixed 179,500 Manufacturing overhead-fixed 210,000 Prepare a CVP income statement for 2020 based...
A.) B/C.) D/E.) Sheridan Company bottles and distributes B-Lite, a diet soft drink. The beverage is...
A.)
B/C.)
D/E.)
Sheridan Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed $2,000,000 480,000 330,000 350,000 280,000 Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $212,000 50,000 28,000 90,000 Prepare a CVP income statement for 2020 based on management's estimates....
Question 1 of 1 < > - 71 View Policies Current Attempt in Progress Ivanhoe Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,650,000 460,000 330,000 350,000 180,000 Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $76.500 51,000 21,000 99,000...
POlicies Current Attempt in Progress Ivanhoe Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,950,000 470,000 340,000 Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $ 171,000 59,000 24,000 120,500 360,000 230,000 Prepare a CVP income statement for 2020 based...
Current Attempt in Progress Crane Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales Direct materials Direct labor Manufacturing overhead--variable Manufacturing overhead-fixed $2,000,000 520,000 390,000 410,000 300,000 Selling expenses--variable Selling expenses --fixed Administrative expenses--variable Administrative expenses-fixed $55,000 52,000 25,000 128,000 Prepare a CVP income statement for 2020 based on...
Question 1 Cullumber Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. 1,800,000 Selling expenses-variable Sales Direct materials Direct labor 510,000 Selling expenses-f 390,000 Administrative expenses-variable 410,000 Administrative expenses-fixed 130,000 $105,000 62,000 25,000 96,000 Manufacturing overhead-fixed Prepare a CVP income statement for 2020 based on management's estimates CULLUMBER COMPANY CVP...
Pharoah Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,800,000 Selling expenses-variable Direct materials $93,000 65,000 27,000 Direct labor 410,000 400,000 420,000 150,000 Selling expenses-fixed Administrative expenses--variable Administrative expenses---fixed 55,000 Manufacturing overhead-variable Manufacturing overhead-fixed 150,000 Prepare a CVP income statement for 2020 based on management's estimates. PHAROAH COMPANY...
Blossom Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. 1,500,000 Selling expenses-variable 90,000 Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed 410,000 Selling expenses-fixed 330,000 Administrative expenses-variable 20,000 350,000 Administrative expenses-fixed 150,000 50,000 40,000 BLOSSOM COMPANY CVP Income Statement (Estimated) For the Year Ending December 31,2020 Calculate variable...
Carla Vista Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $110,000 $1,980,000 430,000 Selling expenses-variable Selling expenses-fixed Direct materials 62,000 Direct labor 400,000 Administrative expenses-variable 26,000 Manufacturing overhead-variable 420,000 Administrative expenses-fixed 133,200 Manufacturing overhead-fixed 280,000 Calculate variable cost per bottle. (Round variable cost per bottle to 3 decimal...
Crane Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales $1,550,000 Selling expenses-variable $72,000 Direct materials 440,000 Selling expenses-fixed 53,000 Direct labor 340,000 Administrative expenses-variable 28,000 Manufacturing overhead-variable 360,000 Administrative expenses-fixed 48,500 Manufacturing overhead-fixed 100,000 Prepare a CVP income statement for 2020 based on management's estimates. CRANE COMPANY CVP...
Question 1 of 1 -/1 E Sales Sheridan Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 60 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. $1,980,000 Selling expenses-variable $79,000 Direct materials 500,000 Selling expenses-fixed 56,000 Direct labor 380,000 Administrative expenses-variable 27,000 Manufacturing overhead-variable 400,000 Administrative expenses-fixed 179,500 Manufacturing overhead-fixed 210,000 Prepare a CVP income statement for 2020 based...
A.)
B/C.)
D/E.)
Sheridan Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimates the following revenues and costs. Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed $2,000,000 480,000 330,000 350,000 280,000 Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $212,000 50,000 28,000 90,000 Prepare a CVP income statement for 2020 based on management's estimates....
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