Accounting question
Pro Sports Inc. manufactures basketballs for professional basketball associations. For the first six months of 2020, the company reported the following operating results while operating at 90% of plant capacity:
| Amount | Per Unit | |||
| Sales | $4,773,600 | $51.00 | ||
| Cost of goods sold | 3,276,000 | 35.00 | ||
| Selling and administrative expenses | 374,400 | 4.00 | ||
| Net income | $1,123,200 | $12.00 |
Fixed costs for the period were cost of goods sold of $936,000, and selling and administrative expenses of $168,480.
In July, normally a slack manufacturing month, Pro Sports receives a special order for 9,360 basketballs at $30 each from the Italian Basketball Association. Accepting the order would increase variable selling and administrative expenses by $1.00 per unit because of shipping costs, but it would not increase fixed costs and expenses.
Homework Answers
Incremental analysis
| Incremental revenue (9360*30) | 280800 | |
| Incremental cost | ||
| Variable COGS | 234000 | |
| Variable S&A | 20592 | |
| Additional S&A | 9360 | 263952 |
| Incremental income | 16848 | |
Accept
Minimum selling price = 263952/9360+4 = 32.20
Incremental Analysis
Metlock Inc. manufactures basketballs for professional basketball associations. For the first six months of 2022 , the company reported the following operating results while operating at 90 % of plant capacity:AmountPer UnitSales$3,870,000$50.00Cost of goods sold2,709,00035.00Selling and administrative expenses301,8603.90Net income$859,140$11.10Fixed costs for the period were cost of goods sold of $ 774,000, and selling and administrative expenses of $ 139,320 .In July, normally a slack manufacturing month, Metlock receives a special order for 7,740 basketballs at $ 30.00 each from the Italian Basketball...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6 months of 2020, the company reported the following operating results while operating at 80% of plant capacity and producing 119,400 units. Amount Sales $4,776,000 Cost of goods sold 3,509,190 Selling and administrative expenses 513,516 Net income $753,294 Fixed costs for the period were cost of goods sold $960,000, and selling and administrative expenses $258,000. In July, normally a slack manufacturing month, ThreePoint Sports receives...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6...
ThreePoint Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2017, the company reported the following operating results while
operating at 80% of plant capacity and producing 119,100
units.
Amount
Sales
$4,525,800
Cost of goods sold
3,519,459
Selling and administrative expenses
412,841
Net income
$593,500
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $233,000.
In July, normally a slack manufacturing month, ThreePoint Sports
receives...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6 months of 2020, the company reported the following operating results while operating at 80% of plant capacity and producing 120,100 units. Amount Sales $4,804,000 Cost of goods sold 3,503,718 Selling and administrative expenses 447,783 Net income $852,499 Fixed costs for the period were cost of goods sold $960,000, and selling and administrative expenses $228,000. In July, normally a slack manufacturing month, ThreePoint Sports receives...
ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6...
ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2020, the company reported the following operating results while operating at 80% of plant capacity and producing 119,300 units. Sales Cost of goods sold Selling and administrative expenses Net income Amount $4,533,400 3,513,020 508,495 $511,885 Fixed costs for the period were cost of goods sold $960,000, and selling and administrative expenses $252,000. In July, normally a slack manufacturing month, ThreePoint Sports receives...
a & b *Problem 7-1A a-b, c (Part Level Submission) (Video) VERSION ThreePoint Sports Inc, manufactures...
a
& b
*Problem 7-1A a-b, c (Part Level Submission) (Video) VERSION ThreePoint Sports Inc, manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2020, the company reported the following operating results while operating at 80% of plant capacity and producing 119,400 units. Revenues Amount $4,776,000 3,509,190 513,516 $753, 294 Cost of goods sold Selling and administrative expenses Net Income Cost of goo Selling and Fixed costs for the period were cost of goods...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (...
ThreePoint Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2020, the company reported the following operating results while
operating at 80% of plant capacity and producing 118,700 units.
Amount
Sales
$4,748,000
Cost of goods sold
3,582,083
Selling and administrative expenses
503,262
Net income
$662,655
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $235,000.
In July, normally a slack manufacturing month, ThreePoint Sports
receives...
Problem 21-1A ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the...
Problem 21-1A ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2017, the company reported the following operating results while operating at 80% of plant capacity and producing 120,400 units. Sales Cost of goods sold Selling and administrative expenses Net income Amount $ 4,816,000 3,700,304 492,084 $ 623,612 Fixed costs for the period were cost of goods sold $ 960,000, and selling and administrative expenses $ 226,000. In July, normally a...
ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6...
ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2017, the company reported the following operating results w operating at 80% of plant capacity and producing 119,400 units. Amount Sales Cost of goods sold Selling and administrative expenses Net income s 4,656,600 3,684,708 526,292 $445,600 Fixed costs for the period were cost of goods sold $960,000, and selling and administrative expenses $266,000 In July, normally a slack manufacturing month, ThreePoint Sports...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6 months of 2020, the company reported the following operating results while operating at 80% of plant capacity and producing 119,900 units. Amount Sales $4,676,100 Cost of goods sold 3,527,059 Selling and administrative expenses 482,601 Net income $666,440 Fixed costs for the period were cost of goods sold $960,000, and selling and administrative expenses $244,000. In July, normally a slack manufacturing month, ThreePoint Sports receives...
ThreePoint Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2017, the company reported the following operating results while
operating at 80% of plant capacity and producing 119,100
units.
Amount
Sales
$4,525,800
Cost of goods sold
3,519,459
Selling and administrative expenses
412,841
Net income
$593,500
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $233,000.
In July, normally a slack manufacturing month, ThreePoint Sports
receives...
ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2020, the company reported the following operating results while operating at 80% of plant capacity and producing 119,300 units. Sales Cost of goods sold Selling and administrative expenses Net income Amount $4,533,400 3,513,020 508,495 $511,885 Fixed costs for the period were cost of goods sold $960,000, and selling and administrative expenses $252,000. In July, normally a slack manufacturing month, ThreePoint Sports receives...
a
& b
*Problem 7-1A a-b, c (Part Level Submission) (Video) VERSION ThreePoint Sports Inc, manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2020, the company reported the following operating results while operating at 80% of plant capacity and producing 119,400 units. Revenues Amount $4,776,000 3,509,190 513,516 $753, 294 Cost of goods sold Selling and administrative expenses Net Income Cost of goo Selling and Fixed costs for the period were cost of goods...
ThreePoint Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2020, the company reported the following operating results while
operating at 80% of plant capacity and producing 118,700 units.
Amount
Sales
$4,748,000
Cost of goods sold
3,582,083
Selling and administrative expenses
503,262
Net income
$662,655
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $235,000.
In July, normally a slack manufacturing month, ThreePoint Sports
receives...
Problem 21-1A ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2017, the company reported the following operating results while operating at 80% of plant capacity and producing 120,400 units. Sales Cost of goods sold Selling and administrative expenses Net income Amount $ 4,816,000 3,700,304 492,084 $ 623,612 Fixed costs for the period were cost of goods sold $ 960,000, and selling and administrative expenses $ 226,000. In July, normally a...
ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2017, the company reported the following operating results w operating at 80% of plant capacity and producing 119,400 units. Amount Sales Cost of goods sold Selling and administrative expenses Net income s 4,656,600 3,684,708 526,292 $445,600 Fixed costs for the period were cost of goods sold $960,000, and selling and administrative expenses $266,000 In July, normally a slack manufacturing month, ThreePoint Sports...
Most questions answered within 3 hours.
-
Angel Corporation has $10,000,000 of
8.0% 25 year bonds dated May 1, 2018 with interest payable...
asked 26 minutes ago -
7.
________ involves individuals trading goods they already have or
providing services in exchange for something...
asked 31 minutes ago -
Share your research problem. What databases did you search as
you gathered evidence to support your...
asked 31 minutes ago -
what process occurs to form microspores and megaspores in flowering
plants?
asked 38 minutes ago -
C++
I need to use the function getData to put in all my data using
arrays....
asked 37 minutes ago -
A block is hung by a string from the inside roof of a van. When
the...
asked 44 minutes ago -
Do you think companies should not go for long term debt in their
capital structure to...
asked 53 minutes ago -
I create an address book where the user enters the name, phone
and email in the...
asked 59 minutes ago -
The production capacity for acrylonitrile
(C3H3N) in the United States exceeds 2
million pounds per year....
asked 1 hour ago -
explain and comment out your answer
43. How many address lines are required to address a...
asked 1 hour ago -
A sample of 45 observations is selected from a normal
population. The sample mean is 49,...
asked 1 hour ago -
A construction company is planning to bid on a building
contract. The bid costs the company...
asked 1 hour ago