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

Time series, what are the uses of time series

what are the uses of time series

Reply plz, order tomatoes in crates of 25 kg and he is able to stock a maxi...

order tomatoes in crates of 25 kg and he is able to stock a maximum of four crates or 100 kg of tomatoes. His experience taught him that the daily demand ranges from 0 to100 kg of

Calculate the mean value and variance, 1. Generate 1000 samples for each of...

1. Generate 1000 samples for each of the following discrete random variables: (a). Binomial distribution with n=40, p=0.7, and distr. with n=50, p=0.5 (b). Geometric distribu

Determine the probability - probability example, 1. This question has multi...

1. This question has multiple parts. For a distribution of scores with = 82 and standard deviation = 2.5, find the following: (Don't forget to sketch the normal curve to help

Probability statistics, Probability 3DP, a Luxembourg-based company pla...

Probability 3DP, a Luxembourg-based company plans to develop and sell highly specialized 3D printers. The cost of product development is estimated at EUR 50,000.-, irrespective

Standard deviation, define standard deviation. their purpose,uses,advantage...

define standard deviation. their purpose,uses,advantages nd disadvantages,examples ,formula for grouped and ungrouped.

How i can find accounting tutor for my homework due in today, How i can fin...

How i can find accounting tutor for my homework due by today? I need urgent help in my homework, please let us know when i can get homework help

Find the probability that a cup of drink chosen at random, Question: (i...

Question: (i) A soft drink machine is regulated so that it fills an average of 300 cL per cup. If the amount of drink in each cup is normally distributed with standard deviati

Probability, The monthly income of a company employee is normally distribut...

The monthly income of a company employee is normally distributed with the mean Rs. 20,000 and standard deviation of Rs. 5000. a) Find the probability that an employee earns more th

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