Please show all work to get to answers.
Homework Answers
Answer a
| Income statement | ||
| Per unit | Total* | |
| Sales | $ 12.00 | $ 840,000 |
| Less: variable Cost | $ 5.00 | $ 350,000 |
| Contribution | $ 7.00 | $ 490,000 |
| Less: Fixed Cost | $ 3.60 | $ 252,000 |
| Net Income | $ 3.40 | $ 238,000 |
*Total is calculated by multiplying per unit cost by 70,000.
Answer 2
| Income statement | |||
| Per unit | Total* | Grand Total** | |
| Sales | $ 8.60 | $ 172,000 | $ 1,012,000 |
| Less: variable Cost | $ 5.00 | $ 100,000 | $ 450,000 |
| Contribution | $ 3.60 | $ 72,000 | $ 562,000 |
| Less: Fixed Cost | $ 2.80 | $ 252,000 | |
| Net Income | $ 0.80 | $ 310,000 | |
* Total is calculated by multiplying per unit cost by 20,000.
** Grand total is calculated by adding the totals of table 1 and 2.
In case of any doubt, please comment.
Add Answer to:
Please show all work to get to answers. Transfer Prices at Full Cost with Excess Capacity: Divisional Viewpoint Karakom...
Cost-Volume-Profit Relations: Missing Data Following are data from 4 separate companies. Supply the missing data in...
Cost-Volume-Profit Relations: Missing Data Following are data from 4 separate companies. Supply the missing data in each independent case. • Round unit contribution margin answers to two decimal places. • Use rounded unit contribution margin answers for subsequent computations. • Round UP break-even point units. Case C Case A 2,500 Case B 1,600 0X $ Case D ох ох $80,000 ох $240,000 Unit Sales Sales revenue Variable cost per unit Contribution margin Fixed Costs $20 $2 $24 $ ох $...
Negotiating a Transfer Price with Excess Capacity The Foundry Division of Findlay Pumps Inc. produces metal...
Negotiating a Transfer Price with Excess Capacity The Foundry Division of Findlay Pumps Inc. produces metal parts that are sold to the company's Assembly Division and to outside customers. Operating data for the Foundry Division for 2017 are as follows: To the AssemtdyOutside Division Customers Total Sales 400,000 parts x $8.50 $3,400,000 300,000 parts x $9.10 $2,730,000 $6,130,000 Variables expenses at $5.30 (2,120,000) (1.590,000) (3,710,000) Contribution margin 1,280,000 1,140,000 2.620,000 Fixed expenses (700,000) (525,000) (1,225,000) Net income $ 580,000 $615,000...
Total Manufacturing Cost, Income Statement, Unit Cost, and Selling Price Two inventors, recently organized as Innovation,...
Total Manufacturing Cost, Income Statement, Unit Cost, and Selling Price Two inventors, recently organized as Innovation, Inc., consult you regarding a planned new product.They have estimates of the costs of materials, labor, overhead, and other expenses for 2016 but need to know how much to charge for each unit to earn a profit in 2016 equal to 15% of their estimated total long-term investment of $640,000 (ignore income taxes). Their plans indicate that each unit of the new product requires...
fill in the blanks. Cost-Volume-Profit Relations: Missing Data Following are data from 4 separate companies. Supply...
fill in the blanks.
Cost-Volume-Profit Relations: Missing Data Following are data from 4 separate companies. Supply the missing data in each independent case. • Round unit contribution margin answers to two decimal places. • Use rounded unit contribution margin answers for subsequent computations. • Round UP break-even point units. Case D Case C ох 0 x Case A 2,500 $80,000 $20 Case B 1,600 0 X $ $2 $1,600 $ OX $240,000 0 X . $ 0 x Unit Sales...
84,000 Activity-Based Costing Steampunk Corporation has the following predicted indirect costs and cost drivers for 2019...
84,000 Activity-Based Costing Steampunk Corporation has the following predicted indirect costs and cost drivers for 2019 for the given activity cost pools: Fabrication Finishing Department Department Cost Driver Maintenance $ 24,000 12,000 Machine hours Materials handling 36,000 18,000 Material moves Machine 6,000 Machine setups Inspections 30,000 Inspection hours Total $144,000 $ 66,000 The following activity predictions were also made for the year: Fabrication Finishing Department Department Machine hours 5,000 2,500 Material moves 1,500 750 Machine setups 350 25 Inspection hours...
** Please show work and formulas Business Decision Case The following total cost data are for...
** Please show work and formulas
Business Decision Case The following total cost data are for Ralston Manufacturing Company, which has a normal capacity per period of 400,000 units of product that sell for $18 each. For the foreseeable future, regular sales volume should continue at normal capacity of production. Direct materials. ........................ Direct labor. . . . . . . . . . Variable overhead .......... Fixed overhead (Note 1)......... Selling expense (Note 2) ....... Administrative expense (fixed) $1,720,000...
Howard Industries Inc., operating at full capacity, sold 64,000 units at a price of $45 per...
Howard Industries Inc., operating at full capacity, sold 64,000
units at a price of $45 per unit during 2014. Its income statement
for 2014 is as follows:
The division of costs between variable and fixed is as
follows:
Management is considering a plant expansion program that will
permit an increase of $900,000 in yearly sales. The expansion will
increase
fixed costs by $212,500, but will not affect the relationship
between sales and
variable costs.
Required:
1. Determine the total fixed costs...
Variable and Absorption Costing Chandler Company sells its product for $104 per unit. Variable manufacturing costs...
Variable and Absorption Costing Chandler Company sells its product for $104 per unit. Variable manufacturing costs per unit are 545, and fixed manufacturing costs at the normal operating level of 12,000 units are $240,000. Variable selling expenses are $15 per unit sold. Fixed administrative expenses total $104,000. Chandler had no beginning inventory in 2016. During 2016, the company produced 12,000 units and sold 9,000. Would net income for Chandler Company in 2016 be higher if calculated using variable costing or...
Please show steps and include all work, thank you! Will give a very good rating Problem...
Please show steps and include all work, thank you! Will give a
very good rating
Problem 1 - Consider each of the following situations independently. Fill in the blanks with the appropriate information. 1. Units Sold Total Sales Variable Cost Variable Cost Contribution Total Fixed Net Income/ Percentage Margin per Costs (Loss) Unit 20,000 $360,000 $9.90 $40,000 per Unit Work: Total Sales Number of Units Sold Selling Price per Unit Variable Cost Per Unit Total Fixed Costs Total Contribution rgin...
Setting Transfer Prices-Market Price versus Full Cost Ardmore, Inc., manufactures heating and air conditioning units in...
Setting Transfer Prices-Market Price versus Full Cost Ardmore, Inc., manufactures heating and air conditioning units in its six divisions. One division, the Components Division, produces electronic components that can be used by the other five. All the components produced by this division can be sold to outside customers; however, from the beginning, about 70 percent of its output has been used internally. The current policy requires that all internal transfers of components be transferred at full cost. Recently, Cynthia Busby,...
Cost-Volume-Profit Relations: Missing Data Following are data from 4 separate companies. Supply the missing data in each independent case. • Round unit contribution margin answers to two decimal places. • Use rounded unit contribution margin answers for subsequent computations. • Round UP break-even point units. Case C Case A 2,500 Case B 1,600 0X $ Case D ох ох $80,000 ох $240,000 Unit Sales Sales revenue Variable cost per unit Contribution margin Fixed Costs $20 $2 $24 $ ох $...
Negotiating a Transfer Price with Excess Capacity The Foundry Division of Findlay Pumps Inc. produces metal parts that are sold to the company's Assembly Division and to outside customers. Operating data for the Foundry Division for 2017 are as follows: To the AssemtdyOutside Division Customers Total Sales 400,000 parts x $8.50 $3,400,000 300,000 parts x $9.10 $2,730,000 $6,130,000 Variables expenses at $5.30 (2,120,000) (1.590,000) (3,710,000) Contribution margin 1,280,000 1,140,000 2.620,000 Fixed expenses (700,000) (525,000) (1,225,000) Net income $ 580,000 $615,000...
Total Manufacturing Cost, Income Statement, Unit Cost, and Selling Price Two inventors, recently organized as Innovation, Inc., consult you regarding a planned new product.They have estimates of the costs of materials, labor, overhead, and other expenses for 2016 but need to know how much to charge for each unit to earn a profit in 2016 equal to 15% of their estimated total long-term investment of $640,000 (ignore income taxes). Their plans indicate that each unit of the new product requires...
fill in the blanks.
Cost-Volume-Profit Relations: Missing Data Following are data from 4 separate companies. Supply the missing data in each independent case. • Round unit contribution margin answers to two decimal places. • Use rounded unit contribution margin answers for subsequent computations. • Round UP break-even point units. Case D Case C ох 0 x Case A 2,500 $80,000 $20 Case B 1,600 0 X $ $2 $1,600 $ OX $240,000 0 X . $ 0 x Unit Sales...
84,000 Activity-Based Costing Steampunk Corporation has the following predicted indirect costs and cost drivers for 2019 for the given activity cost pools: Fabrication Finishing Department Department Cost Driver Maintenance $ 24,000 12,000 Machine hours Materials handling 36,000 18,000 Material moves Machine 6,000 Machine setups Inspections 30,000 Inspection hours Total $144,000 $ 66,000 The following activity predictions were also made for the year: Fabrication Finishing Department Department Machine hours 5,000 2,500 Material moves 1,500 750 Machine setups 350 25 Inspection hours...
** Please show work and formulas
Business Decision Case The following total cost data are for Ralston Manufacturing Company, which has a normal capacity per period of 400,000 units of product that sell for $18 each. For the foreseeable future, regular sales volume should continue at normal capacity of production. Direct materials. ........................ Direct labor. . . . . . . . . . Variable overhead .......... Fixed overhead (Note 1)......... Selling expense (Note 2) ....... Administrative expense (fixed) $1,720,000...
Howard Industries Inc., operating at full capacity, sold 64,000
units at a price of $45 per unit during 2014. Its income statement
for 2014 is as follows:
The division of costs between variable and fixed is as
follows:
Management is considering a plant expansion program that will
permit an increase of $900,000 in yearly sales. The expansion will
increase
fixed costs by $212,500, but will not affect the relationship
between sales and
variable costs.
Required:
1. Determine the total fixed costs...
Variable and Absorption Costing Chandler Company sells its product for $104 per unit. Variable manufacturing costs per unit are 545, and fixed manufacturing costs at the normal operating level of 12,000 units are $240,000. Variable selling expenses are $15 per unit sold. Fixed administrative expenses total $104,000. Chandler had no beginning inventory in 2016. During 2016, the company produced 12,000 units and sold 9,000. Would net income for Chandler Company in 2016 be higher if calculated using variable costing or...
Please show steps and include all work, thank you! Will give a
very good rating
Problem 1 - Consider each of the following situations independently. Fill in the blanks with the appropriate information. 1. Units Sold Total Sales Variable Cost Variable Cost Contribution Total Fixed Net Income/ Percentage Margin per Costs (Loss) Unit 20,000 $360,000 $9.90 $40,000 per Unit Work: Total Sales Number of Units Sold Selling Price per Unit Variable Cost Per Unit Total Fixed Costs Total Contribution rgin...
Setting Transfer Prices-Market Price versus Full Cost Ardmore, Inc., manufactures heating and air conditioning units in its six divisions. One division, the Components Division, produces electronic components that can be used by the other five. All the components produced by this division can be sold to outside customers; however, from the beginning, about 70 percent of its output has been used internally. The current policy requires that all internal transfers of components be transferred at full cost. Recently, Cynthia Busby,...
Most questions answered within 3 hours.
-
1. An object weighing 40 N rests on a surface. The coefficient
of friction is 0.35....
asked 37 minutes ago -
Investor company owns 35% of investee company voting stock and
accounts for the investment under the...
asked 1 hour ago -
The number of major faults on a randomly chosen 1 km stretch of
highway has a...
asked 2 hours ago -
Consider the competitive environment of Starbuck's, Progressive
Insurance, a manufacturing firm with low turnover, or a...
asked 2 hours ago -
3. Gains from trade
Consider two neighbouring island countries called Euphoria and
Contente. They each have...
asked 4 hours ago -
A business executive has the option to invest money in two
plans: Plan A guarantees that...
asked 7 hours ago -
Hello, can someone please help me answer this question?
How much heat is absorbed by a...
asked 7 hours ago -
. A marketing researcher conducted a survey of 25 shoppers
randomly selected at the local mall...
asked 7 hours ago -
Create an comprehensive response to the
following:
Antimicrobial agents work on a multitude of microbes (bacteria,...
asked 7 hours ago -
6.13 LAB: Step counter. Section 6.3.
A pedometer treats walking 2,000 steps as walking 1 mile....
asked 7 hours ago -
(14.2) A block of mass m = 10 kg riding on a frictionless
horizontal plane is...
asked 7 hours ago -
Use any search engine to search for articles about Starbucks
partnership with Tata Companies in India...
asked 7 hours ago