Homework Answers
Q19.
| Target sales = (Fixed expenses + target profit) / contribution margin ratio |
| Target sales = ($100,000+$110,000+$130,000) / (($1,000,000-$270,000-$240,000-$150,000-$50,000)/50,000) |
| Target sales = 58,621 |
Answer is E. 58,621
Q18.
| Contribution margin ratio = Contribution margin / Selling price |
| Contribution margin ratio = ($14,50 - $7.50) / $14.50 |
| Contribution margin ratio = 48.3% |
Answer is B. 48.3%
Q17.
| Break-even point in units = Fixed expenses / Contribution margin per unit |
| Break-even point in units = $186,000 / ($14.50 - $7.50) |
| Break-even point in units = 26,571 Units |
Answer is B. 26,571 Units
Q16.
| Target sales = (Fixed expenses + target profit) / contribution margin ratio |
| Target sales = ($270,000 + $60,000) / 55% |
| Target sales = 600,000 Units |
Answer is E. 600,000 Units
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Question 19 2.5 pts The budgeted income statement presented below is for Burkett Corporation for the...
The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. If...
The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. If Burkett Corporation is able to achieve the budgeted level of sales, its margin of safety in dollars would be (Do not round intermediate calculations.): Sales (58,000 units) $986,000 Costs: Direct materials $149,200 Direct labor 240,800 Fixed factory overhead 104,000 Variable factory overhead 150,800 Fixed marketing costs 110,800 Variable marketing costs 50,800 806,400 Pretax income $179,600.
The budgeted Income statement presented below is for Burkett Corporation for the coming fiscal year. Compute...
The budgeted Income statement presented below is for Burkett Corporation for the coming fiscal year. Compute the number of units that must be sold in order to achieve a target pretax income of $150,800. $988.000 Sales (52,000 units) Costs: Direct materials Direct labor Fixed factory overhead Variable factory overhead Fixed marketing costs Variable marketing costs Pretax income $ 235, 400 240,200 101,000 150,200 110,200 50,200 887,200 $100,800 Multiple Choice 50.200 60.333 35.200 Forrester Company is considering buying new equipment that...
The budgeted income statement presented below is for Griffith Corporation for the coming fiscal year: Sales...
The budgeted income statement presented below is for Griffith Corporation for the coming fiscal year: Sales (50,000 units) $1,000,000 Costs: Direct materials $270,000 Direct labor 240,000 l'ixed factory overhead Variable factory overhead Fixed marketing costs Variable marketing costs 100,000 150,000 110,000 50.000 920,000 $ 80,000 Pretax income If Griffith Corporation's income tax rate is 40%, compute the number of units that must be sold in order to achieve a target pretax income of $130,000. Select one: a. 53,165. b. 81,250....
13 The budgeted income statement presented below is for Griffith Corporation for the coming fiscal year....
13 The budgeted income statement presented below is for Griffith Corporation for the coming fiscal year. If Griffith Corporation is able to achieve the budgeted level of sales, its margin of safety in dollars would be: Sales (50,000 units) $1,000,000 Costs: Direct materials $270,000 Direct labor 240,000 Fixed factory overhead 139,980 Variable factory overhead 150,000 Fixed marketing costs 110,000 Variable marketing costs 50,000 95,980 Pretax income $ 40,020 A. $172,420 B. $138,000 C. $262,500 D. $275,862 E. $862,000.
Question 15 2.5 pts A product sells for $200 per unit, and its variable costs per...
Question 15 2.5 pts A product sells for $200 per unit, and its variable costs per unit are $130. Totalfixed costs are $420,000. If the firm wants to earn $35,000 pretax income, how many units must be sold? 6,500 6,000 O 500. 5,000 5,500 2.5 pts Question 16 MacBook Air $1,700,000 Question 14 2.5 pts Henderson Co. has fixed costs of $36,000 and a contribution margin ratio of 24%. If expected sales are $200,000, what is the margin of safety...
Watson Company has monthly fixed costs of $80,000 and a 50% contribution margin ratio. If the...
Watson Company has monthly fixed costs of $80,000 and a 50% contribution margin ratio. If the company has set a target monthly income of $14,700, what dollar amount of sales must be made to produce the target income? $94,700 $160,000 $29,400 C) $130,600 $189,400 The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. Compute the number of units that must be sold in order to achieve a target pretax income of $179,000. $990,000 Sales...
U theral and administrative expense budget. Budgeted income statement. D Question 23 Which of the following...
U theral and administrative expense budget. Budgeted income statement. D Question 23 Which of the following would not be used in preparing a cash budget for October? 2.5 pts Beginning cash balance on October 1. Budgeted sales and collections for October Estimated depreciation expense for October. Budgeted salaries expense for October Budgeted capital equipment purchases for October Question 24 2.5 pts MacBook Air Income statement Question 22 Which of the following budgets is not completed before a cash budget is...
[The following information applies to the questions displayed below.] Hudson Co. reports the contribution margin income...
[The following information applies to the questions
displayed below.]
Hudson Co. reports the contribution margin income statement for
2017.
HUDSON CO.
Contribution Margin Income Statement
For Year Ended December 31, 2017
Sales (9,900 units at $225 each)
$
2,227,500
Variable costs (9,900 units at $180 each)
1,782,000
Contribution margin
$
445,500
Fixed costs
342,000
Pretax income
$
103,500
2 ! Part 1 of 5 Required information Use the following information for the Exercises below. [The following information applies to the...
ve expected sales. O Expected sales over break-even sales Question 11 2.5 pts During March, a...
ve expected sales. O Expected sales over break-even sales Question 11 2.5 pts During March, a firm expects its total sales to be $160,000, its total variable costs to be $95.000, and its total fixed costs to be $25,000. The contribution margin for March is: O $65,000. O $90,000 $120,000 O $40,000 $25,000 2.5 pts Question 12 Watson Company has monthly fixed costs of $83,000 and a 40% contribution margin ratio. If the company has set a target monthly income...
Required information [The following information applies to the questions displayed below.] Hudson Co. reports the contribution...
Required information [The following information applies to the questions displayed below.] Hudson Co. reports the contribution margin income statement for 2019. HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (11,300 units at $175 each) Variable costs (11,300 units at $140 each) Contribution margin Fixed costs Pretax income .. $1,977,500 1,582,000 395,500 315,000 $ 80,500 1. Compute Hudson Co.'s break-even point in units. 2. Compute Hudson Co.'s break-even point in sales dollars. 1. units Break-even point...
The budgeted Income statement presented below is for Burkett Corporation for the coming fiscal year. Compute the number of units that must be sold in order to achieve a target pretax income of $150,800. $988.000 Sales (52,000 units) Costs: Direct materials Direct labor Fixed factory overhead Variable factory overhead Fixed marketing costs Variable marketing costs Pretax income $ 235, 400 240,200 101,000 150,200 110,200 50,200 887,200 $100,800 Multiple Choice 50.200 60.333 35.200 Forrester Company is considering buying new equipment that...
The budgeted income statement presented below is for Griffith Corporation for the coming fiscal year: Sales (50,000 units) $1,000,000 Costs: Direct materials $270,000 Direct labor 240,000 l'ixed factory overhead Variable factory overhead Fixed marketing costs Variable marketing costs 100,000 150,000 110,000 50.000 920,000 $ 80,000 Pretax income If Griffith Corporation's income tax rate is 40%, compute the number of units that must be sold in order to achieve a target pretax income of $130,000. Select one: a. 53,165. b. 81,250....
13 The budgeted income statement presented below is for Griffith Corporation for the coming fiscal year. If Griffith Corporation is able to achieve the budgeted level of sales, its margin of safety in dollars would be: Sales (50,000 units) $1,000,000 Costs: Direct materials $270,000 Direct labor 240,000 Fixed factory overhead 139,980 Variable factory overhead 150,000 Fixed marketing costs 110,000 Variable marketing costs 50,000 95,980 Pretax income $ 40,020 A. $172,420 B. $138,000 C. $262,500 D. $275,862 E. $862,000.
Question 15 2.5 pts A product sells for $200 per unit, and its variable costs per unit are $130. Totalfixed costs are $420,000. If the firm wants to earn $35,000 pretax income, how many units must be sold? 6,500 6,000 O 500. 5,000 5,500 2.5 pts Question 16 MacBook Air $1,700,000 Question 14 2.5 pts Henderson Co. has fixed costs of $36,000 and a contribution margin ratio of 24%. If expected sales are $200,000, what is the margin of safety...
Watson Company has monthly fixed costs of $80,000 and a 50% contribution margin ratio. If the company has set a target monthly income of $14,700, what dollar amount of sales must be made to produce the target income? $94,700 $160,000 $29,400 C) $130,600 $189,400 The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. Compute the number of units that must be sold in order to achieve a target pretax income of $179,000. $990,000 Sales...
U theral and administrative expense budget. Budgeted income statement. D Question 23 Which of the following would not be used in preparing a cash budget for October? 2.5 pts Beginning cash balance on October 1. Budgeted sales and collections for October Estimated depreciation expense for October. Budgeted salaries expense for October Budgeted capital equipment purchases for October Question 24 2.5 pts MacBook Air Income statement Question 22 Which of the following budgets is not completed before a cash budget is...
[The following information applies to the questions
displayed below.]
Hudson Co. reports the contribution margin income statement for
2017.
HUDSON CO.
Contribution Margin Income Statement
For Year Ended December 31, 2017
Sales (9,900 units at $225 each)
$
2,227,500
Variable costs (9,900 units at $180 each)
1,782,000
Contribution margin
$
445,500
Fixed costs
342,000
Pretax income
$
103,500
2 ! Part 1 of 5 Required information Use the following information for the Exercises below. [The following information applies to the...
ve expected sales. O Expected sales over break-even sales Question 11 2.5 pts During March, a firm expects its total sales to be $160,000, its total variable costs to be $95.000, and its total fixed costs to be $25,000. The contribution margin for March is: O $65,000. O $90,000 $120,000 O $40,000 $25,000 2.5 pts Question 12 Watson Company has monthly fixed costs of $83,000 and a 40% contribution margin ratio. If the company has set a target monthly income...
Required information [The following information applies to the questions displayed below.] Hudson Co. reports the contribution margin income statement for 2019. HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (11,300 units at $175 each) Variable costs (11,300 units at $140 each) Contribution margin Fixed costs Pretax income .. $1,977,500 1,582,000 395,500 315,000 $ 80,500 1. Compute Hudson Co.'s break-even point in units. 2. Compute Hudson Co.'s break-even point in sales dollars. 1. units Break-even point...
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