Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Vulcan Company's contribution format income statement for June is given below: Vulcan Company Income Statement For the Month Ended June 30 Sales $750,000 Variable expenses 336,000 Contribution margin 414,000 Fixed expenses 378,000 Net operating income $36,000 Management is disappointed with the company's performance and is wondering what can be done to improve profits. By examining sales and cost records, you have determined the following: a. The company is divided into two sales territories-Northern and Southern. The Northern territory recorded $300,000 in sales and $156,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern territory. Fixed expenses of $120,000 and $108,000 are traceable to the Northern and Southern territories, respectively. The rest of the fixed expenses are common to the two territories. b. The company is the exclusive distributor for two products-Paks and Tibs. Sales of Paks and Tibs totaled $50,000 and $250,000, respectively, in the Northern territory during June. Variable expenses are 22% of the selling price for Paks and 58% for Tibs. Cost records show that $30,000 of the Northern territory's fixed expenses are traceable to Paks and $40,000 to Tibs, with the remainder common to the two products.
A company with sales of $100,000, variable expenses of $70,000, and fixed expenses of $50,000 will reach its break-even point if sales are increased by $20,000.
Briefly discuss the accounting and securities market differences between these two methods of increasing the number of shares outstanding.
Beginning inventory for September is expected to be $4,000 suits. What is the dollar amount of purchase of suits? Each suit has a cost of $75.
One year Potter, Inc. had gross income from sales of $210,000, business expenses of $230,000, and dividend income from U.S. corporations of $150,000. Potter's 80 percent dividends-received deduction was:
Howarth Manufacturing Company purchased a lathe on June 30, 2007, at a cost of $80,000. Prepare the journal entry to record the sale.
Which is not a GAAP for investments in equity securities? a. replacement value method b. market value method c. Equity method d. consolidation
Nancy's Niche sells a single product. 8,000 units were sold resulting in $80,000 of sales revenue, $20,000 of variable costs, and $10,000 of fixed costs. If variable costs decrease by $1 per unit, the new breakeven point is:
Construct a monthly cash budget for the clinic for the period January through June 2006. What is the maximum monthly loss (cash shortfall) during the six-month planning period?
Both the budget process and budgets themselves can impact management actions, both positively and negatively. For instance, a common practice among non-profit organizations and government agencies is for management to spend any amounts remaining i..
What journal entry would you make to dispose of the overhead variance using the proration approach based on account ending total dollar balances?
Why is a knowledge of accounting concepts and terminology useful to anyone in a business activity?
Under the completed contract method, how much should the company recognize as gross profit for 1993?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd