help with homework, Basic Statistics

Assignment Help:
1. Penny Pincher, Inc. had a contribution margin of $33,000 on sales of $50,000 and had fixed costs of $18,000. Calculate its break-even point in sales dollars.
2. Krueger Company has a variable cost percentage of 32% on a product that sells for $28 per unit. Fixed costs are $30,000. Krueger wants to know how many units must be sold (a) to break even and (b) to earn a profit of $15,000. Ignore income taxes.
3. Kibble Company had the following functional income statement for the month of July 2011:
Kibble Company
Functional Income Statement
For the Month Ending July 31, 2011
Sales ($40 x 25,000) $1,000,000
Cost of goods sold:
Direct materials ($8 x 25,000) $200,000
Direct labor ($6 x 25,000) 150,000
Variable factory overhead ($5.00 x 25,000) 125,000
Fixed factory overhead 180,000 - 655,000
Gross profit $ 345,000
Selling and administrative expenses:
Variable ($1.00 x 25,000) $25,000
Fixed 60,000 - 85,000
Net income
$ 260,000

Calculate Kibble Company''s break-even sales in units



4. Crazy Crafters is a manufacturer of furniture items. The company is considering the possibility of offering a new coffee table that would sell for $415 each. Cost to manufacture these coffee tables includes $135 in materials and $80 in direct labor for each coffee table. Variable marketing and selling costs would be $25 each. In order to manufacture these coffee tables, the company would need to incur $525,000 in fixed costs for new equipment.
a. Compute the break-even point of the coffee tables in units sold.
b. What would be the total revenue at the break-even point?
c. How many units would Crazy Crafters need to sell to earn a profit of $157,500?
d. If fixed costs in fact are $595,000 rather than $525,000, how many units would need to be sold in order to earn $157,500?
5. Rosebud’s income statement is as follows:
Sales (20,000 units) $100,000
Less variable costs - 60,000
Contribution margin $40,000
Less fixed costs - 24,000
Net income $12,000
If sales increase by $15,000, by how much will net income increase?
6. For the following case, compute the missing values indicated by the letters.
Case A
Unit sales 800
Sales revenue $40,000
Variable cost per unit $35
Total Contribution Margin A
Fixed costs $2,500
Operating income B
Unit contribution margin C
Break-even point (units) D

Related Discussions:- help with homework

Inventory, An audit of the accounting records of Loch Ness Ltd. for the yea...

An audit of the accounting records of Loch Ness Ltd. for the year ending 30 June 2012 discovered that the ending inventory balance was over-valued by $35,000. Upon further investig

Construct confidence interval for the true mean return, A researcher has ga...

A researcher has gathered data on the daily returns on a portfolio of call options over a recent 250-day period. The mean daily return has been 0.001 and the sample standard deviat

Homework help, example of descriptive statistics in word form

example of descriptive statistics in word form

Bad debt reserve, Explain definition of bad debt reserve and provision in t...

Explain definition of bad debt reserve and provision in terms of accounts receivable likely to be uncollected. Bad debt reserve provision Bad debt reserve provision is a amount

Balance of payments and mobility of labor & capital, Balance of Payments, M...

Balance of Payments, Mobility of Labor and Capital, Trade and Wages Balance of Payments 1. Will a country running a trade deficit import or export capital?  Explain. 2.

International accounting standards committee, IASC:  The IASC (Internationa...

IASC:  The IASC (International Accounting Standards Committee is an international organization which was set up in 1973 was restructured to form IASB in 2001. It was an agreement b

Amount to be provided for retirement of long-term obligation, Amount to be ...

Amount to be provided for retirement of long-term obligations An “other debit” common journal value used in the General Long-Term Bills Additional Consideration that symbolizes t

Sample size, difference between large sample and small sample

difference between large sample and small sample

AMOUNT AVAILABLE IN DEBT SERVICE FUNDS , AMOUNT AVAILABLE IN DEBT SERVICE ...

AMOUNT AVAILABLE IN DEBT SERVICE FUNDS An "other debit" common journal value used in the General Long-Term Bills Additional Consideration that designates the quality of resources

Estimate the parameters of the normal distribution, The sizes of 15 Califor...

The sizes of 15 California earthquakes are given below. 6.8   6.6  7.5  6.2  6.5  7.1  8.3  5.9  6.1  6.9  7.0  6.2  5.9  6.3  7.3 (a)  Assuming normal distribution for the s

Write Your Message!

Captcha
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