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Cascade & Chinook Company produces and sells a single product. The company's income statement for the most recent month is given below: Sales (15,000 units at $29 per unit) $325,000 Less variable costs: Direct materials (variable) $60,000 Direct labor (variable) 75,000 Variable factory overhead 45,000 Variable selling and other expenses 30,000 210,000 Contribution margin 225,000 Less selling and other expenses: Fixed factory overhead 100,000 Fixed selling and other expenses 85,000 185,000 Net operating income $ 40,000 There are no beginning or ending inventories. Required: a. Compute the company's monthly break-even point in units and sales dollars. b. What would the company's monthly net operating income be if sales and variable costs increased by 30% and total fixed factory overhead dropped by $25,000? c. What total level of sales (in units) must the company achieve in order to earn a target profit of $145,000 ? d. The company has decided to automate a portion of its operations. The change will reduce direct labor costs per unit by 50 percent, but it will double the costs for fixed factory overhead. Every other cost remains unchanged. Compute the new break-even point in units.
Pension and retirements cost of employees are examples of the cost that should follow Unicap rules. Gross income equals all income from all sources minus allowable deductions. Start-up costs exceeding $5,000 should be amortized over 15 years. Cost of..
What is the total factory-overhead variance for the month of March? Use a two-variance breakdown of the total overhead variance to determine the Total overhead flexible-budget variance.
q1 myrnas landscaping is a private company owned and operated by myrna. it cuts lawns and weeds gardens. myrna has
Able Company expects to begin the coming year with 12,000 units of product X in the inventory of finished goods. It expects to sell 130,000 units of the product and end the year with 15,800 units in finished goods inventory. Calculate the number of u..
Mason Farms purchased a building for $729,000 eight years ago. Six years ago, repairs were made to the building which cost $136,000. The annual taxes on the property are $11,000. The building has a current market value of $825,000 and a current book ..
The truck's annual license is $120. The truck undergoes safety testing for $220. Illustrate what does Arnold record as the cost of the new truck?
Boscan Corporation purchased machinery on January 1, 2014, at a cost of $345,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $28,900. Prepare separate depreciation schedules for..
Cost of merchandise sold reported on the income statement was $360,000. The accounts payable balance decrease $17,800 and the inventory balance decreased by $28,000 over the year. Determine the amount of cash paid for merchandise.
YOUCPA is a regional CPA firm engaged in public audit work of small- and medium-size firms in the Midwest. The YOUCPA firm has their main office in Chicago, Illinois, and regional offices in Minneapolis, Minnesota and Indianapolis, Indiana.
sales $2,555,500, $1,120,000 prepare a consolidated financial statements workpaper for year ended dec. 31, 2013. prepare a schedule to calculate consolidated retained earnings on dec. 31, 2013. use an analytical or t-account.
Periwinkle Manufacturing Company has the following budgeted costs for 10,000 units
Merton Manufacturing Company has an opportunity to purchase some technologically advanced equipment that will reduce the company’s cash outflow for operating expenses by $1,289,000 per year. Calculate the internal rate of return of the investment opp..
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