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2. Heavener Company produces and sells storage sheds. Its current sales are $500,000. The company' accountant...
Solomon Company reported the following data regarding the product it sells: Sales price Contribution margin ratio...
Solomon Company reported the following data regarding the product it sells: Sales price Contribution margin ratio Fixed costs s 60 259 $360,000 Required Use the contribution margin ratio approach and consider each requirement separately. a. What is the break-even point in dollars? In units? b. To obtain a profit of $30,000, what must the sales be in dollars? In units? c. If the sales price increases to $75 and variable costs do not change, what is the new break-even point...
Ritchie Manufacturing Company makes a product that it sells for $180 per unit. The company incurs...
Ritchie Manufacturing Company makes a product that it sells for $180 per unit. The company incurs variable manufacturing costs of $79 per unit. Variable selling expenses are $20 per unit, annual fixed manufacturing costs are $500,000, and fixed selling and administrative costs are $245,200 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Prepare a contribution margin income...
IHG Company produces widgets. The widgets are sold for $2.00 per unit to wholesalers Unit variable...
IHG Company produces widgets. The widgets are sold for $2.00 per unit to wholesalers Unit variable cost are 60 % . For the year 2019, management estimates the following revenues and costs Selling expenses Selling expenses SGA expenses V SGA expenses- fix Sales Direct materials 70,000 75,000 30,000 1.100.000 530,000 460,000 Direct labor Manufacturing overhead- variable Manufacturing overhead -fixed 400,000 80,000 380,000 Instructions: (a) Compute the contribution margin ratio. (Round to the nearest full percent.) Compute the break-even point in...
SBD Phone Company sells its waterproof phone case for $95 per unit. Fixed costs total $210,900,...
SBD Phone Company sells its waterproof phone case for $95 per unit. Fixed costs total $210,900, and variable costs are $38 per unit. (1) Determine the contribution margin per unit. per unit per unit Contribution margin per unit (2) Determine the break-even point in units. Choose Numerator: Choose Denominator: Break Even Units Break even units SBD Phone Company sells its waterproof phone case for $128 per unit. Fixed costs total $257,000, and variable costs are $58 per unit. (1) Determine...
Instructions Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gasgrill,...
Instructions Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gasgrill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 16,200 portable grills, 48,600 stationary grills, and 5,400 smokers. Information on the three models is as follows: Portable $93 Stationary $203 Smokers $250 Price Variable cost per unit 49 131 141 Total fixed cost is $1,911,350. Required: 1. What is the sales mix of portable grills to...
Ritchie Manufacturing Company makes a product that it sells for $150 per unit. The company incurs...
Ritchie Manufacturing Company makes a product that it sells for $150 per unit. The company incurs variable manufacturing costs of $76 per unit. Variable selling expenses are $14 per unit, annual fixed manufacturing costs are $352,000, and fixed selling and administrative costs are $266,000 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Use the contribution margin ratio...
Ritchie Manufacturing Company makes a product that it sells for $150 per unit. The company incurs...
Ritchie Manufacturing Company makes a product that it sells for $150 per unit. The company incurs variable manufacturing costs of $76 per unit. Variable selling expenses are $14 per unit, annual fixed manufacturing costs are $352,000, and fixed selling and administrative costs are $266,000 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Use the contribution margin ratio...
Ritchie Manufacturing Company makes a product that it sells for $190 per unit. The company incurs...
Ritchie Manufacturing Company makes a product that it sells for
$190 per unit. The company incurs variable manufacturing costs of
$96 per unit. Variable selling expenses are $18 per unit, annual
fixed manufacturing costs are $462,000, and fixed selling and
administrative costs are $260,000 per year.
Required
Determine the break-even point in units and dollars using each
of the following approaches:
Use the equation method.
Use the contribution margin per unit approach.
Prepare a contribution margin income statement for the...
Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill,...
Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 19,600 portable grills, 44,100 stationary grills, and 4,900 smokers. Information on the three models is as follows: Stationary Portable $86 Smokers $245 Price $198 Variable cost per unit - 43 126 144 Total fixed cost is $2,026,200. Required: 1. What is the sales mix of portable grills...
Required information [The following information applies to the questions displayed below.) Henna Co. produces and sells...
Required information [The following information applies to the questions displayed below.) Henna Co. produces and sells two products, T and O. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 48,000 units of each product. Sales and costs for each product follow. Sales Variable costs Contribution margin Fixed costs Income before taxes Income taxes (32% rate) Net income Product T $825, 600 577,920 247,680 113,680 134,000...
Solomon Company reported the following data regarding the product it sells: Sales price Contribution margin ratio Fixed costs s 60 259 $360,000 Required Use the contribution margin ratio approach and consider each requirement separately. a. What is the break-even point in dollars? In units? b. To obtain a profit of $30,000, what must the sales be in dollars? In units? c. If the sales price increases to $75 and variable costs do not change, what is the new break-even point...
Ritchie Manufacturing Company makes a product that it sells for $180 per unit. The company incurs variable manufacturing costs of $79 per unit. Variable selling expenses are $20 per unit, annual fixed manufacturing costs are $500,000, and fixed selling and administrative costs are $245,200 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Prepare a contribution margin income...
IHG Company produces widgets. The widgets are sold for $2.00 per unit to wholesalers Unit variable cost are 60 % . For the year 2019, management estimates the following revenues and costs Selling expenses Selling expenses SGA expenses V SGA expenses- fix Sales Direct materials 70,000 75,000 30,000 1.100.000 530,000 460,000 Direct labor Manufacturing overhead- variable Manufacturing overhead -fixed 400,000 80,000 380,000 Instructions: (a) Compute the contribution margin ratio. (Round to the nearest full percent.) Compute the break-even point in...
SBD Phone Company sells its waterproof phone case for $95 per unit. Fixed costs total $210,900, and variable costs are $38 per unit. (1) Determine the contribution margin per unit. per unit per unit Contribution margin per unit (2) Determine the break-even point in units. Choose Numerator: Choose Denominator: Break Even Units Break even units SBD Phone Company sells its waterproof phone case for $128 per unit. Fixed costs total $257,000, and variable costs are $58 per unit. (1) Determine...
Instructions Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gasgrill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 16,200 portable grills, 48,600 stationary grills, and 5,400 smokers. Information on the three models is as follows: Portable $93 Stationary $203 Smokers $250 Price Variable cost per unit 49 131 141 Total fixed cost is $1,911,350. Required: 1. What is the sales mix of portable grills to...
Ritchie Manufacturing Company makes a product that it sells for $150 per unit. The company incurs variable manufacturing costs of $76 per unit. Variable selling expenses are $14 per unit, annual fixed manufacturing costs are $352,000, and fixed selling and administrative costs are $266,000 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Use the contribution margin ratio...
Ritchie Manufacturing Company makes a product that it sells for $150 per unit. The company incurs variable manufacturing costs of $76 per unit. Variable selling expenses are $14 per unit, annual fixed manufacturing costs are $352,000, and fixed selling and administrative costs are $266,000 per year. Required Determine the break-even point in units and dollars using each of the following approaches: a. Use the equation method. b. Use the contribution margin per unit approach. c. Use the contribution margin ratio...
Ritchie Manufacturing Company makes a product that it sells for
$190 per unit. The company incurs variable manufacturing costs of
$96 per unit. Variable selling expenses are $18 per unit, annual
fixed manufacturing costs are $462,000, and fixed selling and
administrative costs are $260,000 per year.
Required
Determine the break-even point in units and dollars using each
of the following approaches:
Use the equation method.
Use the contribution margin per unit approach.
Prepare a contribution margin income statement for the...
Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 19,600 portable grills, 44,100 stationary grills, and 4,900 smokers. Information on the three models is as follows: Stationary Portable $86 Smokers $245 Price $198 Variable cost per unit - 43 126 144 Total fixed cost is $2,026,200. Required: 1. What is the sales mix of portable grills...
Required information [The following information applies to the questions displayed below.) Henna Co. produces and sells two products, T and O. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 48,000 units of each product. Sales and costs for each product follow. Sales Variable costs Contribution margin Fixed costs Income before taxes Income taxes (32% rate) Net income Product T $825, 600 577,920 247,680 113,680 134,000...
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