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Lindon Company is the exclusive distributor for an automotive product that sells for $37.00 per unit and has a CM ratio of 33%. The company’s fixed expenses are $354,090 per year. The company plans to sell 30,000 units this year. Required: 1. What are the variable expenses per unit? (Round your answer to 2 decimal places.) 2. Use the equation method: a. What is the break-even point in unit sales and in dollar sales? (Do not round intermediate calculations.) b. What amount of unit sales and dollar sales is required to earn an annual profit of $61,050? (Do not round intermediate calculations.) c.) Assume that by using a more efficient shipper, the company is able to reduce its variable expenses by $3.60 per unit. What is the company’s new break-even point in unit sales and in dollar sales? (Do not round intermediate calculations. Round up break even point answers to the nearest whole number.) 3. Repeat (2) above using the formula method. a. What is the break-even point in unit sales and in dollar sales? (Do not round intermediate calculations.) b. What amount of unit sales and dollar sales is required to earn an annual profit of $61,050? (Do not round intermediate calculations.) c. Assume that by using a more efficient shipper, the company is able to reduce its variable expenses by $3.60 per unit. What is the company’s new break-even point in unit sales and in dollar sales? (Do not round intermediate calculations. Round up break even point answers to the nearest whole number.)
Prepare a ledger using T accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries presented in the previous question.)
Quantco, a domestic corporation, is an engineering consulting firm that has its main offices in San Diego, California. Because Quantco does a considerable amount of business in China, it has a branch office in Beijing. Compute Quantco's creditable fo..
Prepare a trial balance, and enter it on a 10-column worksheet with columns for a trial balance, adjustments, and adjusted trial balance, an income statement, and a balance sheet.
Considering inflation in discounted cash models
Scotch Company plans to sell 400,000 units of finished product in July 20x1. Management (1) anticipates a growth rate in sales of 5% per month thereafter and (2) desires a monthly ending finished-goods inventory (in units) of 80% of the following mon..
Produce a report of findings with your statement of errrors and potential frauds (and reasons why). List internal controls you may want to add or enforce to reduce the likelihood of future misstatements.
Based on your research, please discuss the benefits (and drawbacks) of creating financial reports with the use of IT. Based on your research, please discuss the application of accounting and auditing concepts in an electronic environment.
The following information ($ in millions) comes from a recent annual report of Amazon.com, Inc. Compute Amazon’s balance in cash at the beginning of the year. Compute Amazon’s total liabilities at the end of the year. Compute cost of goods sold for t..
Mouser Company issues 4,000 shares of its $5 par value common stock having a market value of $25 per share and 6,000 shares of its $15 par value preferred stock having a market value of $20 per share for a lump sum of $192,000. Illustrate what am..
Activity-based costing is a technique for more precisely measuring the cost and profitability of:
Colicchio Corporation acquired two inventory items at a lump-sum cost of $60,000. The acquisition included 3,000 units of knife X001, and 3,000 units of knife X002. X001 normally sells for $20 per unit, and X002 for $10 per unit.
Martin Buber Co. purchased land as a factory site for $400,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. Determine the cost of the land and the cost of the building as they should be re..
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