User Account

All Pages

What were last years sales

Assignment Help Accounting Basics
Reference no: EM132593484

Question 1: Fourth Street lighting shows a net income of $224,000 for the previous year. If the contribution rate for the store was 40.3% and the fixed costs was $315,000, what were last years sales?

NI = $224 000, CR = 0.403, FC = $315 000

NI = S - TC = S - (FC + TVC)

CR = CM/S = (S - TVC)/S

S = 539 000 + TVC = 539 000 + 798 468.98 = 1 337 468.98

Reference no: EM132593484

Questions Cloud

How much is the capital gains tax on the sale : During the current year, he sold the shares he bought for P100,000 for P180,000 directly to a buyer. How much is the capital gains tax on the sale if any
Calculate the relevant cost of the alternative choices : Calculate the relevant cost of the alternative choices (show your work) and make a recommendation to management about which choice to accept
Why Vann Company records the interest receivable : Why Vann Company records the interest receivable in August rather than waiting until the loan is due in November to record the interest
Determine the coefficient of variation for annual cash : Question - Determine the coefficient of variation for the following annual cash inflows from an investment project
What were last years sales : Net income of $224,000 for the previous year. If the contribution rate for the store was 40.3% and the fixed costs was $315,000, what were last years sales?
What will the balance be at the start of month two : APR of 15.99% and a required minimum payment of 5%. What will the balance be at the start of month 2? Round your answer to the nearest cent.
Prepare the section of the property for may-jo machine shop : Prepare the section of the Property, Plant and Equipment for May-Jo Machine Shop Co. to be shown in the Statement of Financial Position as of December
Which statements correctly applies to modified internal rate : Which statements correctly applies to the modified internal rate of return (MIRR)?The MIRR is used to evaluate projects that have negative NPVs.
How many shares of this stock were sold during trading day : Did the price of this stock increase or decrease during the day shown in the table? How many shares of this stock were sold during the trading day?

Reviews

Write a Review

Accounting Basics Questions & Answers

  During 2012 barden building company constructed various

problem 1 during 2012 barden building company constructed various assets at a total cost of 10500000. the weighted

  What current techniques could be used to uncover fraud

What you think is necessary to prevent or at least minimize this type of fraud, and what current techniques could be used to uncover this type of fraud

  On january 1 2013 cool universe issued 10 bonds dated

on january 1 2013 cool universe issued 10 bonds dated january 1 2013 with a face amount of 20 million. the bonds

  Repair and maintenance coverage over its products

Polaris offers extended service contracts that provide repair and maintenance coverage over its products. As you complete the following requirements, assume that the Polaris services department uses many of Polaris's existing resources such as its..

  Determine the proper total inventory value for each items

Departures from Acquisition Cost Determine the proper total inventory value for each of the following items in Packer Company's ending inventory.

  An investment costs 500 and is expected to produce cash

an investment costs 500 and is expected to produce cash flows of 50 at the end of year 1 60 at the end of year 2 70 at

  What is destin basic earnings per share

At December 31, 2012, Destin Sports Equipment had 200,000 common shares issued and outstanding. What is Destin's 2013 basic earnings per share

  Some important aspects of the decision

What are some important aspects of the decision that do not have to do with the price of gasoline and the $4,500 discount?

  What is the ending inventory using the LIFO method

Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year. What is the ending inventory using the LIFO method

  Use of calendar year for tax purposes

All parties use the calendar year for tax purposes. On June 30, 2011, Robin repays the loans of $40,000 together with the specified interest of $4,000. How much of the interest can Robin Corporation deduct in 2010?

  Calculate the materials price variance

In 2017, the company planned to produce 80,000 toys at a level of 40,000 hours of direct labor. calculate the Materials price variance

  What are the company civil remedies

What are the company's civil remedies for a director's breach of common law duties? Who enforces a breach of director's fiduciary duties

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