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

Why are jupiter’s galilean moons geologically active, Why are Jupiter’s Gal...

Why are Jupiter’s Galilean moons geologically active? - Io is the most Volcanically active world in our solar system, Io get the heat from a process that happens on its interior

Hypothesis the basic short-run and long-run, In reguards to the airlines in...

In reguards to the airlines indusry, provide a minimum of 300 words for each statement. plus atleast 3 academic resources. 1. hypothesis the basic short-run and long-run behavio

Cash disbursements, Cash disbursements Cash disbursements are any or more ...

Cash disbursements Cash disbursements are any or more moneys [egg, checks: money: warrants: credit, debit card amounts: & EFTs [Electronic Fund Transfers) paid by the state during

Accounting cases, Hi I just want to know if you many be able to solve thes...

Hi I just want to know if you many be able to solve these three cases for intermediate accounting class! Thank you

Angular histogram, Angular Histogram A method or technique for displayin...

Angular Histogram A method or technique for displaying the circular data, which involves the wrapping of the usual histogram around a circle. Each bar in the histogram is center

#binomial probability, they gave me n=30 and p=.23 to get the answers for P...

they gave me n=30 and p=.23 to get the answers for P(20,x,23)= and P(x.23)=

Calculate permanent income, Suppose that permanent income, YP (t) is calcu...

Suppose that permanent income, YP (t) is calculated as the average of disposable income (YD t ) over the past 5 years, that is: YP (t) = 0.2(YD t + YD t-1 + YD t-2 + YD t-3

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