Data concerning Strite Corporation's single product appear below: Selling price per unit Variable expense per unit Fixed expense per month $ 150.00 $ 42.00 $421,200 He Assume the company's target profit is $8,000. The dollar sales to attain that target profit is closest to: (Round your i calculations to 2 decimal places.)
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000Profit A company charting its profits notices thatthe relationship between the number of units soldx and the profit P is linear. If 300 units sold resultsin $4650 profit and 375 units sold results in $9000profit, find the marginal profit, which is the rate ofchange of the profit.Income Statement Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 53,000 units will be produced with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead Beginning Ending ? Next year, Bob's Bistro expects to purchase $126,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Inventory $5,000 $4,900 $73,000 27,000 230,000 Work-in-Process Inventory $13,700 $15,700 Next year, Bob's Bistro expects to produce 53,000 units and sell 52,300 units at a price of $13.00 each. Beginning inventory of finished goods is $47,500, and ending inventory of finished goods is expected to be $39,000. Total selling expense is projected at $22,000, and total administrative expense is projected at $117,500. Required: 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For…
- The following is Cullumber Company’s income statement for the past year. Sales revenue $336,000 Cost of goods sold 134,400 Gross margin 201,600 Operating expenses 145,600 Operating income $56,000 If the company wants to sell a new product that costs $49 wholesale while keeping the same markup structure, what will be the price of the new product? (Use the gross margin percentage and round final answer to 2 decimal places, e.g. 25,124.25.) Price of the new product $enter the price of the new product in dollars rounded to 2 decimal placeschapter 3 4. Given the information below, what is the profit percent? Round your answer to two decimal places and add a percent sign (i.e. 15.37%) Gross Sales $341,420 Customer Returns 29,870 Cost of Goods Sold 161,570 Expenses 138,140The following data are available for X Corp:Gross profit is 20% based on cost. Using ABC, compute the selling price of each unit of Product B?
- If cost of goods sold is $520,000 and the gross profit rate is 20%, what is the gross profit? Select one: a. $2,600,000. b. $130,000. c. $ 520,000. d. $416,000.A business has selling price of P 129.50 with an average variable cost of P 54.40. Fixed costs are P 1,400,000. Calculate the following: What is the breakeven sales revenue? Use 2 decimal places in computing CM Ratio (Answer the figures only; no decimal places)Given the following data: Selling price per unit Variable production cost per unit Fixed production cost Sales commission per unit Fixed selling expenses $ 2.00 $ 0.30 $3,000 $ 0.20 $1,500 The break-even point in dollars is: (Round your intermediate calculations to 2 decimal places.)
- Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is estimated to be MC=q+35 MR=560+22q-q^2 Where q is the quantity produced and the firm’s break-even is 5 units per week You are Required to I. determine the total cost and the total revenue function in terms of q. II. estimate the output at which profit is maximize III. calculate the maximum profitA company has assessed the profitability of its three products as shown here: Product A Product B Product C Total Sales (units) 3,000 5,000 2,000 10,000 £ £ Price 15.00 10.00 5.00 Variable costs 6.00 4.00 3.00 Divisible fixed costs 2.00 1.00 0.50 Non-divisible fixed costs 2.00 2.00 2.00 Profit/(Loss) 5.00 3.00 (0.50) As a result of this, it has been suggested that Product C should be dropped. All other things being equal what would be the financial impact of dropping Product C? A B Profit would increase by £1,000. Profit would increase by £2,000. Profit would fall by £3,000. C D Profit would fall by £4,000. £Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round your percentages answers to one decimal place. Enter all amounts as positive numbers. Question not attempted. Score: 0/62 Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 1 Current year Current year Previous year Previous year 2 Amount Percent Amount Percent 3 Sales $3,400,000.00 $3,750,000.00 4 Cost of goods sold 2,046,800.00 2,040,000.00 5 Gross profit $1,353,200.00 $1,710,000.00 6 Selling expenses $374,000.00 $600,000.00 7 Administrative expenses 530,400.00 465,000.00 8 Total operating expenses $904,400.00 $1,065,000.00 9 Income from operations $448,800.00 $645,000.00 10 Income tax expense 170,000.00 217,500.00 11 Net income $278,800.00…