QUESTION 2 What a Racquet, Inc. sells unique, customized tennis rackets. The results from the past year are shown below. Total Sales in units 300,000 Variable Costs 3,600,000 Fixed Costs 700,000 What price should it charge its customers given a desired 40% mark up on the cost of its rackets (round to the nearest cent)?
Q: Sales for J. P. Hulett Inc. during the past year amounted to $4.3 million. Gross profits totaled…
A: Calculation of Taxable Income Particulars $ Gross Profit 1060000 Less : Operating Expenses…
Q: Walnut has received a special order for 2,400 units of its product at a special price of $240. The…
A: Answer) If the company accepts the offer, it will incur variable expenses like Direct Materials…
Q: In the liquidation of a partnership, a loan from a partner a. Will be paid off at the same time as…
A: Partnership characteristics includes: Existence of an agreement Existence of business Sharing of…
Q: equipment? Sheridan Snowboarding Company Balance Sheet (Partial) Assets Add/Less: 2. Assuming no…
A: Sheridan Snowboarding Company Purchased Equipment on Jan 10,2017 660000 useful life…
Q: Prepare a bank reconciliation at July 31, 2022. (List items that increase balance as per bank &…
A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…
Q: A made a donation to B. Later, A contracted several debts. What A has left as assets are much less…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Daily Kneads, Inc., is thinking about having one of its products made by a supplier. The supplier…
A: Relevant incremental cost of making each unit = Relevant cost per unit where, Relevant cost per unit…
Q: You have $16,000 to invest. You want to purchase shares of Alaska Air at $43.16, Best Buy at $5202,…
A: Amount invested = Amount * Weight Amount invested in Alaska Air = 40% * $16,000 = $6,400 Amount…
Q: Please help me with my assignment. Solutions are not required 1. If the balance of the Perez,…
A: In Trial Balance, Total Debit = Total Credit. Hence, A = B
Q: CooMon Company produces and sells boxed choco cookies. There are 100 pieces of cookies per box. The…
A: The variable costing method considers only variable cost as the product cost. The fixed costs are…
Q: jobs. At June 30 Direct materials Direct labor Overhead applied Job 5 Job 6 $ 35,000 18, 200 9,100…
A: Direct materials requisition to jobs means materials cost that are directly used in production or…
Q: Which of the following is not a scope of internal auditors? Efficient Use of Resources Should work…
A: Internal auditors are the professionals appointed by the businesses to ensure the operational…
Q: Northern Systems reported the following financlal data (in millions) In its annual report: 2018 2019…
A: Return on assets ratio = Net income / Average Assets Assets turnover ratio = Sales / Average Assets…
Q: E information system mind maps to describe: rought about by the uele
A: 1) There are a lot of benefits associated with information technology and drawbacks of Information…
Q: 4. Thomas deposited 300,000Php now, so that his 3 year old daughter will receive 6 equal amounts…
A: The question is based on the concept of Annuities and Future Value in Financial Management.
Q: 6. A taxpayer sells a vacation home in 2019 for $150,000 that has an adjusted basis $115,000. The…
A: The question is related to calculation of Contract Price. The details are given regarding the same.
Q: Budgeted variable overheads = Rs. 8,00,000 Budgeted fixed overheads 5,00,000 Overheads are recovered…
A:
Q: On the first day of the fiscal year, a company issues a $1,000,000, 7%, 5-year bond that pays…
A: Cash = $884,171 Bonds payable = $1,000,000 Discount on bonds payable = Face value - Cash received…
Q: A company purchased factory equipment on April 1, 2021 for $128,000. It is estimated that the…
A: Depreciation as per straight line method for each year= (Cost- salvage value)/useful life =…
Q: Pls answer the all questions with solutions 10. Wint Clothing Store had a balance in the Accounts…
A: 10. Average Collection Period = 365 x Average Accounts Receivable / Net Credit Sales 11. Receivable…
Q: X and Y entered into a partnership agreement in which X is to have a 60% interest in capital and…
A: Partnership means where two or more person comes together to do some common business activity and…
Q: Product Pricing: Two Products Quality Data manufactures two products, CDs and DVDS, both on the same…
A:
Q: Greek Manufacturing Company produces and sells a line of product that are sold usually all year…
A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…
Q: The First cost of a passenger bus is ₽800,000. Its estimated life is 4 years with no salvage value.…
A: Solution Day wise Yearly Days of operation 300 Tires 24000 Gasoline 900 270000…
Q: Sydney Ltd repaired a customers' washing machine and charged the customer $500 which the customer…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: Jarett Motors is trying to decide whether it should keep its existing car washing machine or…
A: The overall cost incurred as a result of producing an additional unit of products is known as…
Q: 36. The term footing refers to the: process of obtaining the top number in an account. process of…
A: While reviewing a draft Financial Statements, a number of methods are applied on the financial…
Q: Which statement is true of digital legal tender?
A: Answer: a.Digital legal tender replaces physical notes and coin.
Q: Bee, Cee and Dee, accountants, agree to form a partnership and to share profits in the ratio of…
A: Income distribution to Partners: Profits and losses incurred by the partnership are dispersed among…
Q: I. True or False 1. Taxation is a process or means by which the sovereign, through its law-making…
A: The Question is based on the General and Fundamental Principles of Taxation.
Q: Pepa Madrigal has operated a very successful bakery for 30 years, and has accumulated investment…
A: Rate of tax = 12% Single taxpayer from 10276 to 41775 is taxed at the rate of 12%.
Q: Which of the following procedures would an auditor most likely perform in searching for unrecorded…
A: Account payable means the amount owed by business to outsider for the goods received and services…
Q: A corporation is authorized to issue 60,000 shares of $30 common stock, the corporation should…
A: Authorized paid in capital is calculated basis the par value of the stock. The given par value of…
Q: Which of the following statements is false? O The Home Office - Current account is presented in the…
A: Head office Current account is capital account for branch. Following is the correct option relating…
Q: X invited Y to a partnership interest in his business. Accounts in the ledger of X on January 1,…
A: Introduction Partnership is the association of two or more persons who have agreed to share profit…
Q: Total gross sales for the period include the following: Credit card sales (discount 3%) Sales on…
A: Terms 3/15, n/60 denotes that in case payment is made within 15 days, there will be a discount of…
Q: HANDOUT PROBLEM on VARIOUS OTHER STOCK TRANSACTIONS Last Corporation had the following stockholders'…
A:
Q: Sydney Ltd repaired a customers' washing machine and charged the customer $500 which the customer…
A: Cash is received immediately so cash will be debited. Income is generated so income will be…
Q: Required information Problem 2-1A (Algo) Computing job costs and overhead rate; assigning costs to…
A: The question is based on the concept of Cost Accounting.
Q: . X invited Y to a partnership interest in his business. Accounts in the ledger of X on January 1,…
A: Calculation of Adjusted Capital of Y X as contributed P 1,175,200 for 2/3 share. Therefore, total…
Q: Wayman Corporation reports the following amounts in its December 31, 2024, income statement. Sales…
A: Total revenue and expenditures are divided into operational and non-operating categories on a…
Q: The payables clerk obtains and matches the purchase order, receiving report, and vendor's invoice…
A: The "three-way match" refers to matching three documents - the invoice, the purchase order, and the…
Q: Georgetown Berbice Income before tax.…
A: Residual income = Earnings before tax/operating income - (Investment × Required rate of return)
Q: onsidered in item 4. 1. The company did not accrue sales commissions payable at the end of each of…
A: Journal entry: The act of recording or keeping track of any financial or non-financial action is…
Q: Whispering Corporation had 106,800 shares of stock outstanding on January 1, 2020. On May 1, 2020,…
A: The weighted average number of shares outstanding is based on the number of shares and duration of…
Q: FitHealth Inc. produces a small and large version of its popular electronic scale. The anticipated…
A: Total units to be produced = Expected units to be sold + Desired finished goods inventory -…
Q: essentially describe what materiality means in the context of the audit.
A: The most typical type of audit is a financial statement audit. A financial audit is an objective…
Q: CBA Ltd sells smartphones. The following information relates to its best-selling model Tex for the…
A: The question is based on the concept of Cost Accounting.
Q: Analyze the following statements and categorize them into Determinants of Demand (DD) or…
A: A customer buys the product and the price of the product or the goods is the primary factor which…
Q: Avery Bhd. has provided the following trial balance (extract) as at 30 June 2021. Dr Cr RM'000…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Question 5 Micol & Co. Ltd sells a single product, baby hamper, with a selling price of $150 and variable costs per baby hamper of $100. The company’s monthly fixed expenses are $200,000. Required: a) What is the company’s break-even point in units? b) What is the company’s margin of safety in dollars, assume sales is expected to be $800,000? c) How many baby hampers will Micol & Co. Ltd need to sell (in sales dollars) in order to realize a target profit of $500,000? d) Construct a contribution margin income statement for the first month (in July) that reflects $2,400,000 in sales revenue for Micol & Co. Ltd. e) Provide two suggestions to Micol & Co. Ltd on how it can increase profit in subsequent months? SHOW YOUR WORKINGWhat a Racquet, Inc. sells unique, customized tennis rackets. The results from the past year are shown below. sales in units -300000 variable costs- 3500000 fixed costs- 600000 What price should it charge its customers given a desired 40% mark up on the cost of its rackets (round to the nearest cent)?Question 1 LUMU has demand for 1400 water pumps each year. The cost of a water pump to LUMU is $400. Inventory carrying cost is estimated to be 20% of the unit cost and the ordering cost is $25 per order. If the owner orders in quantities of 300 or more, he can get a 5% discount on the pumps, Should LUMU accepts the quantity discount?
- Question #3 In the above question, (Alpha Company), the cost to produce each special order is: 22 B) 26 30 32Question 1 What would be the BEP in units sales if the company decides to: Increase the Sales Price from $100 to $105 by spending annually $5000 for advertisement. Question 2 What would be the BEP in units sales if the company decides to: Increase the Sales Price from $100 to $105 and cutting the fixed salary of the salespeople by $15000 and instead provides them $10 per unit commission?Question 3 Which one of the following options provides better units BEP for the company? Option A: Increase the Sales Price from $100 to $105 by spending annually $5000 for advertisement. Option B: Increase the Sales Price from $100 to $105 and cutting the fixed salary of the salespeople by $15000 and instead provides them $10 per unit commission. Option A Option B Both options are same None of the OptionsUse the available pick lists from within the three boxed areas to change values, noting how the break-even units change within the green - shaded area. Think critically about why the changes in…company X produce and sell 80000 calculators yearly. the capacity for company to produce 100000 calculators . the next data available the variable cost per calculator: manufacturing cost 22 selling and administrative 10 the fixed cost: manufacturing cost 256000 selling and administrative 112000 if the company accepted to special order to sell 10000 calculator at selling price 50 per calculator. whats the effect of the company income?
- Schylar Pharmaceuticals, Inc., plans to sell 130,000 units of antibiotic at an average price of 22 each in the coming year. Total variable costs equal 1,086,800. Total fixed costs equal 8,000,000. (Round all ratios to four significant digits, and round all dollar amounts to the nearest dollar.) Required: 1. What is the contribution margin per unit? What is the contribution margin ratio? 2. Calculate the sales revenue needed to break even. 3. Calculate the sales revenue needed to achieve a target profit of 245,000. 4. What if the average price per unit increased to 23.50? Recalculate: a. Contribution margin per unit b. Contribution margin ratio (rounded to four decimal places) c. Sales revenue needed to break even d. Sales revenue needed to achieve a target profit of 245,000Question 2 Ronamart needs 1000 coffee makers per year. The cost of each coffee maker is $78. Ordering cost is $100 per order. Carrying cost is $20 of unit cost. Lead time is 5 days. RonaMart is open 360 days/yr. Required: 2. how many times per year does the store reorder? 3. What is the length of order cycle? 4. What is the total annual cost if EOQ Quantity is ordered?Question 2 a) Nana Trading manufactures professional paperweights and has been approached by a new customer with an offer to purchase 15,000 units at a per unit price of RM7.00. the new customer is geographically separated from Nana Trading's other customers, and existing sales will not be affected. Nana Trading normally produces 82,000 units but plans to produce and sell only 65,000 in the coming year. The normal sales price is RM12 per unit. Unit cost information is as follows: RM Direct materials 3.10 Direct labor 2.25 Variable overhead 1.15 Fixed overhead 1.80 8.30 Total Refer to the information above, if Nana Trading accepts the order, no fixed manufacturing activities will be affected because there is sufficient excess capacity. Required: i. What are the alternatives for Nana Trading? ii. Should Nana Trading accept the special order? By how much will profit increase or decrease if the order is accepted? b) Refer to the information for Nana Trading, suppose a customer wants to…
- Question No.6: An auto parts supplier sells Hardy-brand batteries to car dealers and auto mechanics. The annual demand is approximately 1500 batteries. The supplier pays 25 R.O for each battery and estimates that the annual holding cost is 30% of the battery's value. It costs approximately 30 R.o to place an order. The supplier currently orders 125 batteries per month. a. Determine the EOQ. b. How many orders will be placed per year using the EOQ? c. Determine the total cost for the current order quantity. d. Determine the total inventory cost for the EOQ, How has ordering cost changed?ab. ock esc ~ Microhard produces tablets, laptops and televisions. Microhard typically sells 1,000 tablets a year. The tablet information is as follows: Selling price per unit Direct material cost per unit Direct labor cost per unit Total unavoidable allocated overhead How much would Operating Income decrease if Microhard were to eliminate the tablets? DO NOT INCLUDE PARENTHESES OR NEGATIVE SIGNS IN YOUR ANSWER. Click Save and Submit to save and submit. Click Save All Answers to save all answers. ! 1 Q A @ 2 W S $60 $30 $10 $48,000 #M 3 E $ 4 D R % от оро 5 F MacBook Pro < 6 T G & of r 7 Y H * 00 つThe following are the unadjusted ledger balances of La Vie Limited for the year ended 31 December 2023: Ordinary Share Capital Sales Trade payables Returns Outwards Purchases Returns Inwards Carriage outwards Carriage inwards Rental expense Insurance expense Sales and Marketing Office salaries expense Cash at Bank Opening Inventory at 1st January 2023 Trade Receivables Plant and Machinery at cost Accumulated Depreciation (1st January 2023: Plant and Machinery) Motor Vehicles at cost Rental expense owing as at 31 December 2023 Depreciation for the year - Plant and Equipment Depreciation for the year - Motor Vehicles Income Statements for the year ended 31 December 2023 La Vie Limited Mikie Limited Sales Cost of goods sold Additional information needed for year-end adjustments, are as follows: Insurance for January 2024 $800 Closing Inventory, at 31 December 2023 $3,500 Irrecoverable debts to be written off $350 $11,000 10% using straight line method 18% on cost Gross profit Less:…