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

Kurtosis, how solve and get kurtosis

how solve and get kurtosis

General journal, Can you do my accounting assignment?

Can you do my accounting assignment?

Time series, discuss the nature and causes of the components of an economic...

discuss the nature and causes of the components of an economic time series?

Abdullahi, why should cofficient of variation be used to compare the disper...

why should cofficient of variation be used to compare the dispersion?

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

Explain accounting Accumulated depreciation , A contra-asset assessment con...

A contra-asset assessment consideration used to history the buildup of regular credit created to indicate the conclusion of the approximated useful life of investment resources.

Probability, s. All human blood can be "ABO-typed" as one of O, A, B, or AB...

s. All human blood can be "ABO-typed" as one of O, A, B, or AB, but the distribution of the types varies a bit among groups of people. Here is the distribution of blood types for a

Sampling distribution, The heights of a large population of adult females w...

The heights of a large population of adult females who play basketball are normally distributed with a mean of 175cm and a standard deviation of 7.5cm. (a) what proportion of this

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