How much is the margin of safety for the company for june

Assignment Help Accounting Basics
Reference no: EM132069489

Questions -

Q1. Montoya Manufacturing has fixed costs of $3,000,000 and variable costs are 40% of sales. What are the required sales if Montoya desires net income of $300,000?

a. $5,500,000

b. $5,000,000

c. $8,250,000

d. $7,500,000

Q2. The following monthly data are available for Lumberyard Company. which produces only one product: Selling price per unit, $42; Unit variable expenses, $14; Total fixed expenses, $42,000; Actual sales for the month of June, 3,000 units. How much is the margin of safety for the company for June?

a. $42,000

b. $63,000

c. $84,000

d. $1,500

Q3. Chung, Inc. sells 100,000 wrenches for $24 per unit. Fixed costs are $700,000 and net income is $500,000. What should be reported as variable expenses in the CVP income statement?

a. $1,080,000

b. $1,200,000

c. $1,900,000

d. $1,700,000

Reference no: EM132069489

Questions Cloud

Discussion about the health network : Malpractice insurance, postage, advertising, medical supplies, drugs, lab and many more. Productive and non productive time by staff costs.
Ozco boats case study : OzCo Boats is a family-owned boat building business based in Coffs Harbour, New South Wales. Operating since1961, OzCo designs and builds high quality
What developmental consideration were included : Project description (Who was your target population? What topic did you choose? Why? What developmental consideration were included?
What is teller break-even point in sales dollars : The same selling price, variable expenses, and fixed expenses are expected for 2017. What is Teller's break-even point in sales dollars for 2017
How much is the margin of safety for the company for june : Total fixed expenses, $42,000; Actual sales for the month of June, 3,000 units. How much is the margin of safety for the company for June
Draft a response or strategy for addressing major problems : Draft a response or strategy for addressing the major problems and issues. Make recommendations to improve the patient's health.
Why implementation will make congruent improvements : Discuss which provisions you believe will be difficult to achieve or implement because of the inherent challenges in the current U.S. healthcare landscape;
Welcome to the rest of your life : Jo is a 59 yr old woman, who five years ago experienced a right sided stroke. She continues to have difficulty with her left side, experiencing an intense sensi
Wacc use to compute equity capital costs : What asset pricing model does the WACC use to compute equity capital costs?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How are guaranteed payments handled

Why is it important to calculate the basis of each partner's interest in the partnership? Is the partner taxed on his basis in the partnership each year? Is the partner taxed on his share of the Net Income of the partnership? How are guaranteed pa..

  Advantages and disadvantages of minimum wage laws

Discussion of both the advantages and disadvantages of minimum wage laws - The U.S. Department of Labor has imposed a minimum wage since 1938. Most states mandate minimum hourly wage rates, too.

  Why is the selection of the cost driver so important

Why would a company choose to split up costs in this manner rather than just dividing up costs equally among the games?

  Societies set benchmarks to guide members via communication

Societies set benchmarks to guide members through communications with one another. Also, however, it is not frequently evident to the stripped eye; organizations have comparative measures administering their activities and capacity to keep workin..

  The mission of the financial accounting standards board

"The mission of the Financial Accounting Standards Board is to establish and improve standards of financial accounting reporting for the guidance and education of the public, including issuers, auditors, and users of financial information.

  What was the issue price on january one of given year

What was the issue price on January 1 of this year? What amount of interest expense should be recorded on June 30 and December 31 of this year?

  Evaluate costing systems for the given company

Evaluate costing systems for this company. Explain if this company should be using a job-order or process-costing system to accumulate costs (1 page).

  What is the dollar value of the gain or loss

Truck A is purchased on 1-1-X1 for 15,500. Straight-line depreciation is used, with a salvage value of 1,500. What is the dollar value of the gain or loss

  Net realizable method-assigning costs to a and b

A company processes a chemical, dx-1, through pressure treatment. The process has two outputs, A and B. The January costs to process dx-1 are $50,000 for materials and $100,000 for conversion costs. The outputs sell for a total of $250,000.

  How do sweep accounts affect required reserves

What are sweep accounts? How do sweep accounts affect required reserves? -  Are balances in sweep accounts subject to reserve requirements?

  Flash newton is national sales director aat bright and

flash newton is national sales director aat bright and shinytoothpaste company. tge firm manufactures and distributes

  Careers in accounting

Accounting is the study of how businesses track their income and assets over time. Accountants engage in a wide variety of activities besides preparing financial statements and recording business transactions

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