Company break-even point in dollar sales

Assignment Help Accounting Basics
Reference no: EM13138169

Scott Company's variable expenses are 70% of sales. The company's break-even point in dollar sales is $2,420,000. If sales are $53,000 below the break-even point, the company would report a:

A) $43,200 loss

B) $60,000 loss

C) $16,800 loss

D) Cannot be determined from the data given.

Reference no: EM13138169

Questions Cloud

Basics of cash flows from financing activities : Which of the following would be included in cash flows from financing activities?
Cash inflow from investing activities : How many of the above items will appear as a cash inflow from investing activities on a statement of cash flows for the current year?
What is the net amount to be paid the employee : hours worked, 48; federal income tax withheld, $341; cumulative earnings for year prior to current week, $96,780; social security tax rate, 6.0% on maximum of $103,004; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid..
Accounts receivable turnover for organization : Assume an organization has total current assets of $200,000, total current liabilities of $75,000, inventories of $50,000, prepaid expenses of $25,000, net sales of $770,000, and beginning accounts receivable of $42,000 and ending accounts receiva..
Company break-even point in dollar sales : Scott Company's variable expenses are 70% of sales. The company's break-even point in dollar sales is $2,420,000. If sales are $53,000 below the break-even point, the company would report a:
Market price of the stock : The company issued to the stockholders 100,000 rights. Ten rights are needed to buy one share of stock at $34. The rights were void after 30 days. The market price of the stock at this time was $36 per share.
What would be the necessary journal entry : On December 31, 2007, Drew Company issued $170,000, five-year bonds for $155,000. The stated rate of interest was 6 percent and interest is paid annually on December 31. What would be the necessary journal entry?
Financial leverage characteristic of long-term debt : The financial leverage characteristic of long-term debt results in:
Find out the exit temperature : Determining the Exit Temperature and Power Input of Air through a Compressor, Air at 150Pa and 310K enters a compressor of inlet diameter 2cm. The Compressor raises the pressure to 3.5 times the inlet pressure

Reviews

Write a Review

Accounting Basics Questions & Answers

  International differences in accounting

Compare the accounting systems in 2 countries with differing legal systems. Explain why each country's system is the way it is.

  Fixed costs and maximizing firm value

To maximize the firm value, should GS accept the Kojo offer? Why or why not? Given the data, what is GS weekly fixed cost of producing the tiger head covers? Besides the data provided above, what other factor should GS consider before making the deci..

  Iasb fasb convergence issues

Describe how influential you believe the IASB is over FASB. Describe whether or not you support the U.S. adopting International Financial Reporting Standards for publicly traded companies.

  What amount may tad and mary claim

Assuming Tad attends school for 12 months, what amount may Tad and Mary claim as a child care credit (Ignore the income tax limitation)?

  Interest rate on the less expensive debt instrument

Alternatively, ABC can sell 9.5 percent coupon bonds with a 2-year maturity and $1,000 par value at a price of $950.00. How many percentage points lower is the interest rate on the less expensive debt instrument?

  Earnings account to paid-in capital accounts

What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

  Social security benefits

Wilma is a widow, age 80 and blind, who is claimed as a dependent by her son. During 2010, she received $4,800 in Social Security benefits, $2,200 in bank interest, and $1,800 in cash dividends from stocks. Wilma's taxable income is:

  What is the impact on not eliminating intercompany payables

What is the impact of not balancing intercompany payables/receivables on a monthly basis? What is the impact on not eliminating intercompany payables/receivables during the consolidation? Is there an instance where either of these two practices wo..

  What are some of the ways that financial information

The CEO of your company has requested that you prepare a written presentation to be given at the next board of directors meeting regarding the continuing impact that the information age has on financial accounting.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Keeping a manual accounting system

Your friend, Wendy Geiger, owns a small retail store that sells canies and nuts. Geiger acquires her goods from a few select vendors. She generally makes purchase orders by phone and on credit. Sales are primarily for cash. Geiger keeps her own ma..

  Long-term debt

Long-term debt that matures within one year and is to be converted into stock should be reported:

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