I have a problem I am working on I have it all right except for one part that I can not figure out. you can see what is incorrect. Help
Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year’s plans call for a $300 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $210,000, up to a maximum capacity of 550,000 yards of rope. Forecasted variable costs are $240 per 100 yards of XT rope.
3. Prepare a contribution margin income
statement showing sales, variable costs, and fixed costs for
Product XT at the break-even point.
PRAVEEN CO. | ||||
Contribution Margin Income Statement (at Break-Even) — Product XT | ||||
Units | $ per unit | Total | ||
Salesselected answer correct | 5,500selected answer incorrect | $300selected answer correct | $1,650,000 | |
not attempted | Variable costselected answer correct | 5,500 | 240selected answer correct | 1,320,000 |
Contribution margin | 5,500 | $60selected answer correct | 330,000 | |
not attempted | Fixed costsselected answer correct | 210,000selected answer correct | ||
Net incomeselected answer correct | $120,000 |
I have a problem I am working on I have it all right except for one...
Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $200 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $270,000, up to a...
Required information Problem 21-3A CVP analysis and charting LO P2, P3 (The following information applies to the questions displayed below.) Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $200 selling price...
Required information The following information applies to the questions displayed below) Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XI. a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans cal for a $190 selling price per 100 yards of XT rope. Its fixed costs...
Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year’s plans call for a $280 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $414,400, up to a...
Required information [The following information applies to the questions displayed below.] Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $230 selling price per 100 yards of XT rope. Its fixed costs...
Required information The following information applies to the questions displayed below.) Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $240 selling price per 100 yards of XT rope. Its fixed costs...
Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $170 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $214,200, up to a...
Need help with this accounting problem. Required information Problem 21-3A CVP analysis and charting LO P2, P3 [The following information applies to the questions displayed below.) Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans...
Hi, Please answer this 2 part question. Required information [The following information applies to the questions displayed below.) Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $240 selling price per 100...
Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $200 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $270,000, up to a...