Homework Answers
Contribution margin ratio = (Sales - Variable costs) / Sales = ($540,000 - $216,000) / $540,000 = 0.60 or 60%
Break even sales = Fixed costs / Contribution margin ratio = $117,000 / 0.60 = $195,000
Margin of safety = Actual sales - Break even sales
Margin of safety = $540,000 - $195,000
Margin of safety = $345,000
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I'm unsure with my answer. Question 2 During May, XYZ Company sold 9,000 units and reported...
I'm unsure with my answer. Question 3 During May, XYZ Company old 9,000 units and...
I'm unsure with my answer.
Question 3 During May, XYZ Company old 9,000 units and reported the following income! statement : Sales Variable costs Fixed costs Net income $540,000 216,000 117.000 $207,000 Calculate the number of units XYZ Company needed to sell in May in order to earn a target profit equal to 45% of sales. 13,000
During May, XYZ Company sold 9,000 units and reported the following income statement: Variable costs .........
During May, XYZ Company sold 9,000 units and reported the following income statement: Variable costs ...... Fixed costs Net income ........... ....... ....... ........ $540,000 216,000 117,000 $207,000 Calculate the number of units XYZ Company needed to sell in May in order to earn a target profit equal to 45% of sales.
I'm unsure with my answer and my steps are here. I posted this question sometimes earlier...
I'm unsure with my answer and my steps are here. I
posted this question sometimes earlier but the guy who posted the
answer told me it should be 10000.
Question 3 During May, XYZ Company old 9,000 units and reported the following income! statement : Sales Variable costs Fixed costs Net income $540,000 216,000 117.000 $207,000 Calculate the number of units XYZ Company needed to sell in May in order to earn a target profit equal to 45% of sales....
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Todrick...
Todrick Company is a merchandiser that reported the following
information based on 1,000 units sold:
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: points $ $ $ $ 345,000 23,000 230,000 11,500 A A eBook Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income A $ 13,800 17,250 Print References $ 69,000 20,700 Required: 1. Prepare a...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 345,000 Beginning merchandise inventory $ 23,000 Purchases $ 230,000 Ending merchandise inventory $ 11,500 Fixed selling expense $ ? Fixed administrative expense $ 13,800 Variable selling expense $ 17,250 Variable administrative expense $ ? Contribution margin $ 69,000 Net operating income $ 20,700 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price...
Question 1 If the number of units sold increases (quantity increases), which of the following will...
Question 1 If the number of units sold increases (quantity increases), which of the following will NOT change? Sales O Variable costs O Fixed costs Contribution margin Question 2 Kelly's Karts, LLC reported the following data: Sales quantity 1,000 units; Sales $750 per unit; Variable costs $405 per unit; Fixed costs $258,750. What is breakeven in sales dollars? $750,000 $395,000 $345,000 $562,500 Question 3 2 pt Kelly's Karts, LLC reported the following Contribution Margin Income Statement. What is the effect...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income is as it is as it is esse $ 180,000 $ 12,000 $ 120,000 6,000 ? 7,200 9,000 ? 36,000 10,800 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $ 270,000 $ 18,000 $ 180,000 9,000 A A eBook Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income A 10,800 13,500 A Print A A Ferences $ 54,000 16,200 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales...
Todrick Company is a merchandiser that reported the following
information based on 1,000 units sold:
Sales
$
465,000
Beginning merchandise inventory
$
31,000
Purchases
$
310,000
Ending merchandise inventory
$
15,500
Fixed selling expense
$
?
Fixed administrative expense
$
18,600
Variable selling expense
$
23,250
Variable administrative expense
$
?
Contribution margin
$
93,000
Net operating income
$
27,900
Prepare a contribution format income statement.
Prepare a traditional format income statement.
Calculate the selling price per unit, the variable...
Assume the following information for a company that produced 10,000 units and sold 9,000 units during...
Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Per Year Selling price Direct materials Direct labor Variable manufacturing overhead Sales commission Fixed manufacturing overhead Per Unit $200 $ 65 $ 50 $ 8 $ 8 $300,000 Using variable costing, what is the company's contribution margin? Multiple Choice $495,000 $423,000 < Prey 6 of 10 Next > Sa Fixed manufacturing overhead Using variable costing, what is the company's...
I'm unsure with my answer.
Question 3 During May, XYZ Company old 9,000 units and reported the following income! statement : Sales Variable costs Fixed costs Net income $540,000 216,000 117.000 $207,000 Calculate the number of units XYZ Company needed to sell in May in order to earn a target profit equal to 45% of sales. 13,000
During May, XYZ Company sold 9,000 units and reported the following income statement: Variable costs ...... Fixed costs Net income ........... ....... ....... ........ $540,000 216,000 117,000 $207,000 Calculate the number of units XYZ Company needed to sell in May in order to earn a target profit equal to 45% of sales.
I'm unsure with my answer and my steps are here. I
posted this question sometimes earlier but the guy who posted the
answer told me it should be 10000.
Question 3 During May, XYZ Company old 9,000 units and reported the following income! statement : Sales Variable costs Fixed costs Net income $540,000 216,000 117.000 $207,000 Calculate the number of units XYZ Company needed to sell in May in order to earn a target profit equal to 45% of sales....
Todrick Company is a merchandiser that reported the following
information based on 1,000 units sold:
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: points $ $ $ $ 345,000 23,000 230,000 11,500 A A eBook Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income A $ 13,800 17,250 Print References $ 69,000 20,700 Required: 1. Prepare a...
Question 1 If the number of units sold increases (quantity increases), which of the following will NOT change? Sales O Variable costs O Fixed costs Contribution margin Question 2 Kelly's Karts, LLC reported the following data: Sales quantity 1,000 units; Sales $750 per unit; Variable costs $405 per unit; Fixed costs $258,750. What is breakeven in sales dollars? $750,000 $395,000 $345,000 $562,500 Question 3 2 pt Kelly's Karts, LLC reported the following Contribution Margin Income Statement. What is the effect...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income is as it is as it is esse $ 180,000 $ 12,000 $ 120,000 6,000 ? 7,200 9,000 ? 36,000 10,800 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling...
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $ 270,000 $ 18,000 $ 180,000 9,000 A A eBook Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income A 10,800 13,500 A Print A A Ferences $ 54,000 16,200 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling...
Todrick Company is a merchandiser that reported the following
information based on 1,000 units sold:
Sales
$
465,000
Beginning merchandise inventory
$
31,000
Purchases
$
310,000
Ending merchandise inventory
$
15,500
Fixed selling expense
$
?
Fixed administrative expense
$
18,600
Variable selling expense
$
23,250
Variable administrative expense
$
?
Contribution margin
$
93,000
Net operating income
$
27,900
Prepare a contribution format income statement.
Prepare a traditional format income statement.
Calculate the selling price per unit, the variable...
Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations: Per Year Selling price Direct materials Direct labor Variable manufacturing overhead Sales commission Fixed manufacturing overhead Per Unit $200 $ 65 $ 50 $ 8 $ 8 $300,000 Using variable costing, what is the company's contribution margin? Multiple Choice $495,000 $423,000 < Prey 6 of 10 Next > Sa Fixed manufacturing overhead Using variable costing, what is the company's...
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