Presidio, Incorporated, produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data ta assuming the company sells each bike for $640. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $640. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. Note: Round your Cost per Unit answers to 2 decimal places.
Q: Luthan Company uses a plantwide predetermined overhead rate of $23.20 per direct labor-hour. This…
A: Predetermined Overhead Rate is the rate used to allocate manufacturing overhead cost to cost object…
Q: Whispering Corporation began operations on January 1, 2022. During its first 3 years of operations,…
A: Statement of retained earnings helps to show the changes in retained earnings over a period of time.…
Q: Directly proportional to respectively.
A: The third option is the correct one.The electric field is inversely proportional to r3 & r2…
Q: The process of assigning the cost of postretirement benefits to the years during which those…
A: The post-retirement benefits are the benefits provided to the employee during their retirement…
Q: Amelie is self-employed and uses her personal automobile in connection with her business. During…
A: Self-employed tax applicants can claim business expense deductions while filing their tax…
Q: Prepare all of the journal entries for the lessor for 2025 and 2026 to record the lease agreement,…
A: Journal entries should not be used to record routine transactions such as customer charges and…
Q: Table 1: Revenue and expense information for the year 2017 and balance sheet items 31 December 2017…
A: Balance Sheet: The term balance sheet refers to a financial statement that reports a company's…
Q: Prepare a statement of financial position as of June 30, 2023.
A: Given,Cash = $126,500,Inventory = $2,800,Investments = $178,000Accounts Payable = $20,520.
Q: Gant Company purchased 30 percent of the outstanding shares of Temp Company for $76,000 on January…
A: The income statement shows the financial position of the company whether the business is making a…
Q: Baskin-Robbins is one of the world's largest specialty ice cream shops. The company offers dozens of…
A: Income statement is a financial statement which is prepared by the entity for the purpose of…
Q: The Albright Company uses standard costing and has established the following standards for its…
A: The variance is the difference between the standard and actual cost data. The variance can be…
Q: Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 400,000 shares of $8 par…
A: The stockholders' equity records the total capital that belongs to the shareholders. The equity…
Q: For each of the following annuities, calculate the annual cash flow: Note: Do not round intermediate…
A: Present Value -The total of future investment returns discounted at a predetermined level of rate…
Q: 6
A: The question is asking about the source of financing for permanent working capital. Working capital…
Q: Slayer Corp. hired Dave Lombardo to investigate some unusual accounts receivable transactions.…
A: There are different types of fraud done by employees to steal from the workplace. Most of these…
Q: At the end of 2023, Payne Industries had a deferred tax asset account with a balance of $110 million…
A: Journal entry records the accounting transactions of a business in a journal book. All the business…
Q: Swifty Inc. had beginning inventory of $11,000 at cost and $19,800 at retail. Net purchases were…
A: Conventional retail method used by retailers that resell merchandise to estimate their ending…
Q: Alpha Company's December 31, Year 1 balance sheet showed $1,750 cash, $1,050 common stock, and $710…
A: Prepaid Expenses are those expenses which are being paid in advance for future period. This is one…
Q: Journal entry worksheet
A: The journal entries are prepared to record the transactions on regular basis. The adjustment entries…
Q: Chuck, a single taxpayer, earns $77,800 in taxable income and $11,500 in interest from an investment…
A: Tax refers to the amount charged by the government to the individual or organization on the income…
Q: Chris’s Outdoor Furniture, Incorporated, has net cash flows from operating activities for the last…
A: Account’s receivables can be defined as the payment which is yet to be received by the business in…
Q: Primare Corporation has provided the following data concerning last month's manufacturing…
A: SCHEDULE OF COST OF GOODS MANUFACTUREDSchedule Of Cost Of Goods Manufactured are those costs which…
Q: Peyton is a well-liked intern at Gary's Tri-State Metal Sales. Customers and coworkers describe…
A: Peyton's personality traits, as described by customers and coworkers, align with the Big Five…
Q: A customer has requested that Lewelling Corporation fill a special order for 2,900 units of product…
A: The special order is accepted only if the costs incurred to complete the order is less than the…
Q: Swifty's Manufacturing Company can make 100 units of a necessary component part with the following…
A: The relevant costs are the costs that are affected with the decision taken by the business. The…
Q: Approaches and challenges to measure performance in the private, public and non-profit sectors and…
A: Private SectorApproaches:Quantitative Measurements: Heavily data-driven, using accounting,…
Q: When gathering financial information, the entrepreneur should develop a budget that includes…
A: A budget is a financial plan that estimates the revenue and expense / cash flows / production /…
Q: Snyder Company is considering purchasing equipment. The equipment will produce the following cash…
A: A financial tool called present value enables investors, companies, and individuals to determine the…
Q: At December 31, 2022, the trial balance of Whispering Winds Company contained the following amounts…
A: Allowance for doubtful accounts is the provision made by the company for the accounts which the…
Q: Exercise 1-4 (Algo) Fixed and Variable Cost Behavior [LO1-4] Espresso Express operates a number of…
A: Lets understand the basics.Costs are mainly divided into two types which are,(1) Variable costs(2)…
Q: For the two independent cases that follow, determine the missing amount for each letter. (Hint: You…
A: Assets are the resources owned by the entity. These may be current or non-current. Some of the…
Q: 1. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost…
A: The high-low method is a cost analysis technique that identifies fixed and variable costs in a data…
Q: Cash Accounts Receivables Closing Stock Furniture Accumulated Depreciation Accounts Payable 2018…
A: Cash Flow Statement -The amount of money coming into and going out of your company over a specific…
Q: The following information is taken form a perpetual inventory record. Calculate the value of ending…
A: Perpetual Inventory System may be defined as a system of records maintained by the controlling…
Q: Classify each of the following costs as either unit-level, batch-level, product-level, or…
A: Activities that are completed every time a batch of goods or products is created, or a set of…
Q: Norton Textile Co. manufactures a variety of fabrics. All materials are introduced at the beginning…
A: WEIGHTED AVERAGE METHOD:— Under this method, equivalent units are calculated by adding equivalent…
Q: Suppose that a truck is purchased by a company at a cost of 150.000 TL for production purposes on 16…
A: Depreciation refers to the decline in the book value of the non-current assets. The most commonly…
Q: a) Pavan Limited has made plans for the year 2022-23. It is estimated tha the Company will employ…
A: Net profit margin and Return on assets are two profitability ratios being used in business. Net…
Q: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate…
A: PREDETERMINED OVERHEAD RATEPredetermined rate means an indirect cost rate.Predetermined overhead…
Q: Based on the following transactions, answer the following questions. ii. iii. iv. V. vi. vii.…
A: Under the cash basis of accounting all the revenue is considered only at the time of receipt of…
Q: Data Sales Net operating income Average operating assets Minimum required rate of return Enter a…
A: Ratio analysis is quantitive method of getting inside review of an organisation. This helps in…
Q: A business that is the business owner, not a separate entity: Question 15 options: Sole…
A: Analyzing the options:Option A. Sole ProprietorshipBusiness Owner as the Sole Entity: In a sole…
Q: You are paid a $300 Euro dividend from a German manufacturing company you invested in. What Canadain…
A: Any person who ever has received any dividend from the foreign corporation does not have any…
Q: B Joseph Anderson purchases books from Book Bramble Ltd. for $1200, using his Royal Bank VISA card.…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: 1. The KLM Company has established the following overhead cost pools and cost drivers. Overhead Cost…
A: The objective of the question is to calculate the total overhead cost assigned to the order of Alfa…
Q: The following account balances appear in the 2021 adjusted trial balance of Beavers Corporation:…
A: 1. Income Statement -Income Statement is the statement that shows the income earned and expense…
Q: On April 22, 2023, Carla Vista Enterprises purchased equipment for $137.720. The company expects to…
A: Depreciation is the reduction in the value of asset due to normal wear and tear and passage of…
Q: QS 4-23 (Algo) Computing and analyzing gross margin ratio LO A1 Trane $ 46,000 York $ 265,000 600…
A: Gross Profit -Gross Profit is the profit recovered over the cost incurred to manufacture the goods.…
Q: Admitting New Partner With Bonus L. Bowers and V. Lipscomb are partners in Elegant Event…
A: An individual who joins an already-existing partnership in any company is referred to as an…
Q: Fortin Limited produces and sells a single product, a wearable LED light for runners and cyclists.…
A: The direct material purchase budget is the statement prepared by the entity for the purpose of…
Step by step
Solved in 5 steps
- Presidio, Inc., produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $640. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $640. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. (Round your Cost per Unit answers to 2 decimal places.) Bikes Produced and Sold 730 Units 790 Units 1,944 Units Total costs Variable costs $ 189,800 Fixed costs per year Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 549.00 Required 1 Required 2 Required 3 Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data…Presidio, Incorporated, produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $640. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $640. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. Note: Round your Cost per Unit answers to 2 decimal places. 730 Units 770 Units Bikes Produced and Sold Total costs Variable costs Fixed costs per year Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ $ $ 182,500 182,500 $ 250.00 250.00 $ 1,304 Units 0 $ 533.00 $ 0.00Presidio, Inc., produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $630. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $630. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. (Round your Cost per Unit answers to 2 decimal places.) Bikes Produced and Sold 730 Units 910 Units 1,18 Total costs Variable costs 189,800 Fixed costs per year Total costs 189,800 Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit 0.00 S 540.00 $4 0.00
- Presidio, Inc., produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $630. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $630. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. (Round your Cost per Unit answers to 2 decimal places.) Bikes Produced and Sold 730 Units 810 Units 1,402 Units Total costs Variable costs Fixed costs per year Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit S 189,800 S S 189,800 $ 0.00 $ 0 S 536.00 S Required 1 0 0.00 Required 2 >Presidio, Incorporated, produces one model of mountain bike. Partial information for the company follows: Required: 1. Complete Presidio's cost data table. 2. Calculate Presidio's contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $630. 3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $630. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete Presidio's cost data table. Note: Round your Cost per Unit answers to 2 decimal places. Bikes Produced and Sold 730 Units 750 Units 1,260 Units Total costs Variable costs $ 182,500 Fixed costs per year Total costs $ 182,500 $ 0 $ 0 Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $ 0.00 $ 558.00 $ 0.00Brissett Corporation makes three products that use the current constraint, which is a particular type of machine. Data concerning those products appear below: GK LQ XK Selling price per unit $ 119.51 $ 226.07 $ 228.96 Variable cost per unit $ 89.87 $ 176.86 $ 178.92 Time on the constraint (minutes) 1.90 3.70 3.60 Required: A. Rank the products in order of their current profitability from the most profitable to the least profitable. In other words, rank the products in the order in which they should be emphasized. B. Assume that sufficient constraint time is available to satisfy demand for all but the least profitable product. Up to how much should the company be willing to pay to acquire more of the constrained resource?
- Brissett Corporation makes three products that use the current constraint, which is a particular type of machine. Data concerning those products appear below: GK LQ XK Selling price per unit $ 326.11 $ 543.37 $ 519.00 Variable cost per unit $ 252.05 $ 420.86 $ 397.71 Time on the constraint (minutes) 4.00 8.00 8.00 Required: a. Rank the products in order of their current profitability from the most profitable to the least profitable. In other words, rank the products in the order in which they should be emphasized. b. Assume that sufficient constraint time is available to satisfy demand for all but the least profitable product. Up to how much should the company be willing to pay to acquire more of the constrained resource? (Round your answer to 2 decimal places.) A. GK LG QX B. Maximun AmountBrissett Corporation makes three products that use the current constraint, which is a particular type of machine. Data concerning those products appear below: GK LQ XK Selling price per unit $ 326.09 $ 543.35 $ 518.00 Variable cost per unit $ 252.04 $ 420.85 $ 397.70 4.10 8.10 8.00 Time on the constraint (minutes) Required: 1. Rank the products in order of their current profitability from the most profitable to the least profitable. In other words, rank the products in the order in which they should be emphasized. 2. Assume that sufficient constraint time is available to satisfy demand for all but the least profitable product. Up to how much should the company be willing to pay to acquire more of the constrained resource? (Round your answer to 2 decimal places.)Cullumber Company makes three models of tasers. Information on the three products is given below. Sales Variable expenses Contribution margin Fixed expenses Net income (a) Net income $ (b) Shocker Net Income Tingler $300,000 $500,000 Tingler Net Income $ Total Net Income (c) Why or why not? Compute current net income for Cullumber Company. ta Net income would 151,400 148,600 $ 119,400 S $29,200 Fixed expenses consist of $298,000 of common costs allocated to the three products based on relative sales, as well as direct fixed expenses unique to each model of $30,000 (Tingler), $80,800 (Shocker), and $34,300 (Stunner). The common costs will be incurred regardless of how many models are produced. The direct fixed expenses would be eliminated if that model is phased out. James Watt, an executive with the company, feels the Stunner line should be discontinued to increase the company's net income. Shocker 197,000 303,000 229,800 $73,200 Compute net income by product line and in total for…
- Hermosa, Inc., produces one model of mountain bike. Partial information for the company follows: Number of bikes produced and sold 490 830 970 Total costs Variable costs $ 113,190 $ ? $ ? Fixed costs per year ? ? ? Total costs ? ? ? Cost per unit Variable cost per unit ? ? ? Fixed cost per unit ? ? ? Total cost per unit ? $ 507.75 ? Required:1. Complete the table. 2. Calculate Hermosa’s contribution margin ratio and its total contribution margin at each sales level indicated in the table assuming the company sells each bike for $730. 4. Calculate Hermosa’s break-even point in units and sales revenue.Hermosa, Inc., produces one model of mountain bike. Partial information for the company follows: Number of bikes produced and sold Total costs 460 750 910 Variable costs $110,860 $ ? Fixed costs per year Total costs ? ? Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit ? ? ? ? ? $ 522.75 Required: 1. Complete the table. 2. Calculate Hermosa's contribution margin ratio and its total contribution margin at each sales level indicated in the table assuming the company sells each bike for $690. 4. Calculate Hermosa's break-even point in units and sales revenue. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Complete the table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of bikes produced and sold 460 Units 750 Units 910 Units Total costs Variable costs $ 110,860 Fixed costs per year Total costs $ 110,860 $ O $ Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit $…1 Lazy Days Inc. (LDI), sells hammocks. Revenue and cost information is given below: Sales Price 3. TL 30 Unit Variable Cost 20 Annual Fixed Operating Expenses 47,500 Required: a) Determine the sales volume in units and TL amount that would be required to attain a TL 12,500 profit. Verify your answer by preparing an income statement using the contribution margin format. b) LDI is considering the implementation of a quality improvement program. The program will require a TL 2.50 increase in the variable cost per unit. To inform its customers of the quality improvements, the company plans to spend an additional TL 5,000 for advertising. Assuming that the improvement program will increase sales to a level that is 1,500 units above the amount computed in requirement a, should LDI proceed with plans to improve product quality? Support your answer by preparing a budgeted income statement. c) Determine the new break-even point volume of units and sales in TL as well as the margin of safety…