Question

Q 18.20: Gulph Company reported the following results for May: sales $200,000, variable costs $120,000 and...

Q 18.20: Gulph Company reported the following results for May: sales $200,000, variable costs $120,000 and fixed costs $60,000. What amount of sales are required in June to achieve $50,000 of net income? A : $275,000 B : $183,333 C : $165,000 D : $500,000.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Answer is A- $ 275,000

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
ManAcct, Inc. reported the following totals for 2014: Sales 1,000,000 Variable Costs 450,000 Contribution Margin 550,000...
ManAcct, Inc. reported the following totals for 2014: Sales 1,000,000 Variable Costs 450,000 Contribution Margin 550,000 Fixed Costs 320,000 Net Income 230,000 These results can be further broken down by ManAcct’s two divisions, CGMA and CMA. CGMA CMA Sales $750,000 $250,000 Variable Costs 275,000 175,000 Traceable Fixed Costs $100,000 $60,000 Allocated Common Fixed Costs $120,000 $40,000 What is the CMA division’s segment margin? A. $15,000 B. ($25,000) C. $75,000 D. $375,000
Concord reported the following results from the sale of 5000 units in May: sales $440000, variable...
Concord reported the following results from the sale of 5000 units in May: sales $440000, variable costs $320000, fixed costs $90000, and net income $30000. Assume that Concord increases the selling price by 5% on June 1. How many units will have to be sold in June to maintain the same level of net income? a) 4225. b) 4766. c) 4750. d) 5000.
33. Bonita Industries reported the following results from the sale of 5000 hammers in May: sales...
33. Bonita Industries reported the following results from the sale of 5000 hammers in May: sales $200000, variable costs $120000, fixed costs $60000, and net income $20000. Assume that Bonita increases the selling price of hammers by 10% on June 1. How many hammers will have to be sold in June to maintain the same level of net income? a) 4000 b) 4255 c) 4545 d) 5000
Westerville Company reported the following results from last year’s operations: Sales $ 1,500,000 Variable expenses 500,000...
Westerville Company reported the following results from last year’s operations: Sales $ 1,500,000 Variable expenses 500,000 Contribution margin 1,000,000 Fixed expenses 700,000 Net operating income $ 300,000 Average operating assets $ 1,000,000 At the beginning of this year, the company has a $200,000 investment opportunity with the following cost and revenue characteristics: Sales $ 300,000 Contribution margin ratio 60 % of sales Fixed expenses $ 132,000 The company’s minimum required rate of return is 10%. 13. If the company pursues...
A company incurred $80,000 of common fixed costs and $120,000 of common variable costs. These costs...
A company incurred $80,000 of common fixed costs and $120,000 of common variable costs. These costs are to be allocated to Departments A and B. Data on capacity provided and capacity used are as follows: Capacity Provided Capacity Used Department in Hours in Hours A 400 320 B 240 320 Assume that both fixed and variable costs are allocated on the basis of capacity used. The fixed and variable costs allocated to Department A are Fixed Variable a. $50,000 $75,000...
Product Wham Blam sales 300,000 200,000 less variable cost 180,000 130,000 contribution margin 120,000 70,000 less...
Product Wham Blam sales 300,000 200,000 less variable cost 180,000 130,000 contribution margin 120,000 70,000 less Fixed cost 90,000 60,000 Income (loss) from operations 30,000 10,000 Management is considering the discontinuance of the manufacture and sale of Blam at the beginning of the current year. The discontinuance would have no effect on the total fixed costs and expenses or on the sales of Wham What is the amount of change in net income for the current year that will result...
During May, XYZ Company sold 9,000 units and reported the following income statement: Sales ............................ $540,000...
During May, XYZ Company sold 9,000 units and reported the following income statement: Sales ............................ $540,000 Variable costs ................... 216,000 Fixed costs ...................... 117,000 Net income ....................... $207,000 Calculate the margin of safety reported by XYZ Company for May.
Variable costs as a percentage of sales for Lemon Inc. are 80%, current sales are $600,000,...
Variable costs as a percentage of sales for Lemon Inc. are 80%, current sales are $600,000, and fixed costs are $130,000. What is the number of sales required to achieve a 60,000 net income
The Kringel company provides the following information: Sales (200,000 units) $500,000 Manufacturing costs: Variable 170,000 Fixed...
The Kringel company provides the following information: Sales (200,000 units) $500,000 Manufacturing costs: Variable 170,000 Fixed 30,000 Selling and administrative costs: Variable 80,000 Fixed 20,000 Required: a. What is the break-even point in units for Kringel? b. What is the variable cost per unit for Kringel? c. What is the contribution margin per unit for Kringel? d. Should a multiple product firm focus on individual product break-even point? Why or why not? Discuss with logical arguments.
Westerville Company reported the following results from last year’s operations:        Sales   $   1,500,000 Variable...
Westerville Company reported the following results from last year’s operations:        Sales   $   1,500,000 Variable expenses      690,000 Contribution margin      810,000 Fixed expenses      435,000 Net operating income   $   375,000 Average operating assets   $   1,250,000 At the beginning of this year, the company has a $350,000 investment opportunity with the following cost and revenue characteristics:        Sales   $   420,000      Contribution margin ratio      70   % of sales Fixed expenses   $   252,000      The company’s minimum required...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT