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Procter & Gamble Company is a Cincinnati-based company that produces household products under brand names such as Gillette, Bounty, Crest, Folgers, and Tide. The company's 2006 income statement showed the following (in millions):
Net Sales: $68,222Costs of Products Sold: $33,125Selling, General, and Administrative Expense: 21,848Operating Income: 13,249
Suppose that the cost of products sold is the only variable cost; selling, general, and administrative expenses are fixed with respect to sales. Assume that Procter & Gamble had a 10% increase in sales in 2007 and that there was no change in costs except for increases associated with the higher volume of sales.
Compute the predicted 2007 operating income for Procter & Gamble and its percentage increase. Explain why the percentage increase in income differs from the percentage increase in sales.
Describe how the following affect the break-even point: increase or reduce in unit sales price, increase or reduce in variable cost per unit, increase or reduce in fixed costs.
Write down the benefits of standard costs and how do businesses set those standards.
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uppose the company decides that only 1,400 units can be sold at a price of $5,000 and, therefore, the target cost cannot be reached. The company is considering. dropping the steam feature, which adds $600 of variable cost per unit. With this featu..
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