Homework Answers
- Current selling price = $246,000 ÷ 4920 units = $50
- New selling price after 10% increase = $50 × 110% = $55
- Variable cost per unit = $147,600 ÷ 4920 units = $30
- Contribution per unit after increase in selling price = selling price – variable cost per unit = $55 - $30 = $25
- Current operating income = $24,600
- Fixed costs = $73,800 (remains the same regardless of the output sold)
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Crane Corporation reported the following results from the sale of 4920 units in March: sales $246000,...
Question 24 Concord reported the following results from the sale of 5000 units in May: sales...
Question 24 Concord reported the following results from the sale of 5000 units in May: sales $270000, variable costs $150000, fixed costs $90000, and net income $30000. Assume that Concord increases the selling price by 5% on June 1. How many units will have to be sold in June to maintain the same level of net income? O 4500. 4750. 5000. 4494.
Чuestion/ Question 26 of 40 -/5.63 View Policies Current Attempt in Progress Carla Vista Corporation reported...
Чuestion/ Question 26 of 40 -/5.63 View Policies Current Attempt in Progress Carla Vista Corporation reported the following results from the sale of 7080 units in March: sales $354000, variable costs $212400, fixed costs $106200, and operating in come $35400. Assume that Carla Vista increases the selling price by 8% on April 1. How many units will have to be sold in April to maintain the same level of operating income? 0 5900. 0 7080. O 6372 0 3540 Save...
Brilliant, Inc. reported the following results from the sale of 31,000 units of IT-54: Sales $...
Brilliant, Inc. reported the following results from the sale of 31,000 units of IT-54: Sales $ 546,000 Variable manufacturing costs 310,000 Fixed manufacturing costs 124,000 Variable selling costs 54,800 Fixed administrative costs 36,400 Extra Company has offered to purchase 3,700 IT-54s at $13 each. Brilliant has available capacity, and the president is in favor of accepting the order. She feels it would be profitable because no variable selling costs will be incurred. The plant manager is opposed because the...
6. Assume total fixed costs of $249600, variable costs per unit of $6, and contribution margin...
6. Assume total fixed costs of $249600, variable costs per unit of $6, and contribution margin per unit of $4. What are the sales dollars required to earn a target net income of $78000 assuming a tax rate of 20%? A. $546000 B. $867750 C. $780000 D. $819000 6. Assume a sales price per unit of $20, variable cost per unit $10, and total fixed costs of $16200. If no units are sold, how much cost would the company incur?...
POPUPA OO. Hustry SOCIOP Perp IVO, AICPA FN MBromont, AICPAP 129. Problem Solving, IMA: Quantitative Methods...
POPUPA OO. Hustry SOCIOP Perp IVO, AICPA FN MBromont, AICPAP 129. Problem Solving, IMA: Quantitative Methods Hayduke Corporation reported the following results from the sale of 5,000 units in May: sales $300,000, variable costs $180,000, fixed costs $90,000, and net income $30,000. Assume that Hayduke increases the selling price by 5% on June 1. How many units will have to be sold in June to maintain the same level of net income? a. 4,444 b. 4,600 c. 4,750. d. 5,000
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,700...
Fanelli Corporation, a merchandising company, reported the
following results for July:
Number of units sold
5,700
Selling price per unit
$
600
Unit cost of goods sold
$
409
Variable selling expense per unit
$
64
Total fixed selling expense
$
125,200
Variable administrative expense per unit
$
20
Total fixed administrative expense
$
207,100
Cost of goods sold is a variable cost in this company.
Required:
a. Prepare a traditional format income statement for July.
b. Prepare a contribution...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,800...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,800 Selling price per unit $ 590 Unit cost of goods sold $ 410 Variable selling expense per unit $ 66 Total fixed selling expense $ 125,300 Variable administrative expense per unit $ 22 Total fixed administrative expense $ 207,200 Cost of goods sold is a variable cost in this company. Required: b. Prepare a contribution format income statement for July.
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,800...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,800 Selling price per unit $ 590 Unit cost of goods sold $ 410 Variable selling expense per unit $ 66 Total fixed selling expense $ 125,300 Variable administrative expense per unit $ 22 Total fixed administrative expense $ 207,200 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,200...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold 5,200 Selling price per unit $ 600 Unit cost of goods sold $ 404 Variable selling expense per unit $ 54 Total fixed selling expense $ 124,700 Variable administrative expense per unit $ 24 Total fixed administrative expense $ 206,600 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense 5,900 $ 600 $ 411 68 $125,400 24 $207,300 0 0 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution format income...
Question 24 Concord reported the following results from the sale of 5000 units in May: sales $270000, variable costs $150000, fixed costs $90000, and net income $30000. Assume that Concord increases the selling price by 5% on June 1. How many units will have to be sold in June to maintain the same level of net income? O 4500. 4750. 5000. 4494.
Чuestion/ Question 26 of 40 -/5.63 View Policies Current Attempt in Progress Carla Vista Corporation reported the following results from the sale of 7080 units in March: sales $354000, variable costs $212400, fixed costs $106200, and operating in come $35400. Assume that Carla Vista increases the selling price by 8% on April 1. How many units will have to be sold in April to maintain the same level of operating income? 0 5900. 0 7080. O 6372 0 3540 Save...
POPUPA OO. Hustry SOCIOP Perp IVO, AICPA FN MBromont, AICPAP 129. Problem Solving, IMA: Quantitative Methods Hayduke Corporation reported the following results from the sale of 5,000 units in May: sales $300,000, variable costs $180,000, fixed costs $90,000, and net income $30,000. Assume that Hayduke increases the selling price by 5% on June 1. How many units will have to be sold in June to maintain the same level of net income? a. 4,444 b. 4,600 c. 4,750. d. 5,000
Fanelli Corporation, a merchandising company, reported the
following results for July:
Number of units sold
5,700
Selling price per unit
$
600
Unit cost of goods sold
$
409
Variable selling expense per unit
$
64
Total fixed selling expense
$
125,200
Variable administrative expense per unit
$
20
Total fixed administrative expense
$
207,100
Cost of goods sold is a variable cost in this company.
Required:
a. Prepare a traditional format income statement for July.
b. Prepare a contribution...
Fanelli Corporation, a merchandising company, reported the following results for July: Number of units sold Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative expense 5,900 $ 600 $ 411 68 $125,400 24 $207,300 0 0 Cost of goods sold is a variable cost in this company. Required: a. Prepare a traditional format income statement for July. b. Prepare a contribution format income...
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