User Account

All Pages

How many puppets must the company sell

Assignment Help Financial Accounting
Reference no: EM132598108

GoRebs, LLC produces Hey Reb! puppets. Each puppet sells for $20.00. Fixed overhead costs are $65,000 per year. Fixed selling and administrative costs are $10,000 per year. Variable unit costs (variable costs per puppet) are as follows:

Fabric ............................ $4.00

Stuffing .......................... $2.00

Other materials .................. $3.50

Packaging material ............. $2.00

Selling commission ............ $1.50

Question 1: How many puppets must GoRebs, LLC sell to break even (Round your answer up to the nearest whole unit if necessary)?

Question 2: How much is total sales revenue at the break-even point?

Question 3: Assume GoRebs, LLC has a desired after-tax net income of $550,000 and a tax rate of 40%. How many puppets must the company sell? (Round your answer up to the nearest whole unit if necessary)

Reference no: EM132598108

Questions Cloud

Find what are budgeted sales : Expenses are expected to remain constant. Assume that COGS is a variable cost and that operating expenses are a fixed cost. What are budgeted sales for 2012?
Define group decision making and state your opinion : Define the following five concepts in 1 to 2 sentences each. Include your thoughts on the best approach for your Learning Team to take regarding each concept.
What was the purchase price Pod Company paid : On January 2, 2021 Pod Company purchased 20% of the outstanding common stock of Jobs, What was the purchase price Pod Company paid
Find business outreach event in charlotte : Find a business outreach event in Charlotte, NC community. What business(es) is sponsoring the event? What is the purpose of the event?
How many puppets must the company sell : Assume GoRebs, LLC has a desired after-tax net income of $550,000 and a tax rate of 40%. How many puppets must the company sell?
What is the Unrealized Gain or Loss to be reported : There was no change during 2022 in the composition of Calhoun's portfolio of equity investments. What is the Unrealized Gain or Loss to be reported
Commercial bank and consumer finance company : Briefly differentiate between a commercial bank and a consumer finance company. What is the most significant difference between these two?
Calculate budgeted unit cost of basic and deluxe trophies : Calculate the budgeted unit cost of basic and deluxe trophies based on departmental overhead rates, where forming department overhead costs
What is the approximate amount that Richman Company report : What is the approximate amount that Richman Company should report as 12/31/14 accumulated other comprehensive income

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute the estimated cost of the ending inventory for each

Compute the estimated cost of the ending inventory for each department under the retail inventory method. (Round computations and final answers to 0 decimal places, e.g. 125.)

  Prepare the statement of cash flows with a total column

Prepare the statement of cash flows with a total column for the three-year period. (Do not include reconciliation of net income to net cash provided by operating activities).

  Construct the journal entry for the sale

Prepare the journal entry on December 31, 2018.Old North sold $1,400,000 par value, 8%, 5 year bonds on October 1, 2018 when the market rate was 8%.

  Liberal in ignoring intellectual property claims

Super Tennis Co is in the business of designing and manufacturing running shoes for long distance runners. They are considering a $500 million upgrade to their production line for the iPhone/iPad/ iWatch connected shoe that has Bluetooth connectivity..

  Prepare of financial statements for internet consulting inc

Prepare of the financial statements for Internet Consulting Inc. (Hint: Prepare Income Statement, Statement of Owner's equity and Balance Sheet).

  Show the highest amount of net income

Current accounting standards indicate that the costs of intangible assets with an indefinite life, such as goodwill, should

  What is the function of bank capital

What is (are) the function(s) of bank capital? What are the advantages and disadvantages of using financial leverage? Answer the last question from both the banker’s point of view and the bank regulator’s point of view. Calculate and show the three (..

  What is the gross profit

The accounting records for a restaurant indicate that food sales were $25,000, food used was $8,100, and employee meals at cost were $75. What is the gross profit?

  Capital committed to the equipment during its lifetime

A firm requires power shovels for its open-pit mining operation. This mining equipment, with a first cost of $500,000, has an estimated salvage value of $70,000 at the end of 10 years' service. If the firm uses a rate of interest of 15% for the proje..

  Determine the maximum would be willing to pay

How much do you need to save each quarter for the next 20 years if the interest rate on your investment will be 11% per year (APR)?

  Prepare a partial income statement beginning with income

Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings

  Why thornleys require a rate of return of 14 percent

The tax rate is 34 percent. The project will require $18,000 in extra inventory for spare parts and accessories. Should this project be implemented if Thornley

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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