Calculate breakeven sales in dollars

Assignment Help Taxation
Reference no: EM1374795

Cost - Volume - Profit Analysis

Arrange Contribution margin income statements.

Western Travel uses contribution margin income statement inside. Western's first-quarter results are as given:

Western Travel
Contribution Margin Income Statement
Three months Ended March 31

Sales Revenue.................................................. $500,000
Less Variable expenses................................... $100,000
____________

Contribution margin....................................... $400,000
Less: Fixed expenses...................................... $174,000
____________
Operating income........................................... $226,000


Western's relevant range is sales of between $100,000 and $700,000.

Requirements:
1. Create contribution margin income statements at sales level of $255,000 and $363,000.
2. Calculate breakeven sales in dollars

Reference no: EM1374795

Questions Cloud

Management of a national department store chain is worried : Management of a national department store chain is worried about shoplifting by employees and they want to determine the extent of employee shoplifting
Lojack as an oligopoly : Should the organization or industry continue, develop, or decrease current operations in order to maximize profits? Explain your answer.
What theory of ethical reasoning would you use to persuade : What theory of ethical reasoning would you use to persuade the CEO to change? What if anything would you have advised Disney to do differently?
Determine a franchisee''s breakeven sales in dollars : Is franchising a good idea for Wong if franchisees want a minimum monthly operating income of $6,000 and Wong believes that most locations could generate $26,000 in monthly sales?
Calculate breakeven sales in dollars : Create contribution margin income statements at sales level of $255,000 and $363,000 and calculate breakeven sales in dollars
Choose from the current organizations : Choose from the current organizations or a large organization of your selecting and tell us what kind of organizational structure
Create the journal entry to record the 2010 income tax : The income tax return excluded a revenue item of $10,000 (reported on income statement) because under tax laws the $10,000 would not be reported for tax purposes until 2011.
Current market conditions paper : Analyze the current market conditions of the Home Depot. Include the history of the Home Depot, the market in which it operates role of government regulations of firm and any issues that the Home Depot faces.
Adjusting entry to account for sales tax : Carl's Video adds the amount of sales taxes collected directly in price charged for merchandise, and total amount is credited to Sales. During January, Sales was credited for $239,680. The 31st January adjusting entry to account for a 7 percent st..

Reviews

Write a Review

Taxation Questions & Answers

  Taxable income

Determine taxable income before considering expense.

  Prepare a tax research memo

Prepare a tax research memo to the file that addresses the issues you feel are most relevant to Mimi's various issures.

  Income by ordinary concepts

Explain what is meant by income by ordinary concepts

  Identify the tax issues

Identify the tax issues that are raised and the relevant sections of the legislation. Identify any cases and other sources of law or information that apply.

  Calculate carolines taxable income

Calculate Carolines taxable income

  Taxation – law and practice

Show the tax issues that are raised and the relevant sections of the legislation.

  Payment to the taxpayer

Brief statement in your own words of the facts of the cases.

  Prepare regular corporation tax return

Prepare the C Regular Corporation Tax Return for the Lawson And Norman Enterprise

  Taxation law

Advise the participants in the ‘barter' system of the income tax implications, if any, of participating in the system.

  A tax on cigarettes is a good way of raising tax revenue

Discuss- A tax on cigarettes is a good way of raising tax revenue for the government

  Prepare the required journal entry

Prepare the required journal entry to record the tax expense

  Calculate barbs taxable income

Calculate Barb's taxable income? What nonrefundable credit is Barb eligible for based on the information you have?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd