When reviewing her display campaign, gina sees that her clickthrough rate is higher on weekdays from 10

1. prepare income statements for both garcon company and pepper company. 2. prepare the current assets section of the balance sh

vagabundo [1.1K]

There are three main parts of income statements and they are:

Revenue
Expenses
Profit

<h3>What is an Income Statement?</h3>

This refers to the profit and loss account of a company that shows the expenses and revenue for a particular company.

Hence, we can see that a sample income statement would be:

BOSKA COMPANY

Income statement for August 29, 2021

NET SALES------------------ $2,000,000

GROSS SALES-------------$500,000

GROSS PROFIT-------------$1,5000,000

Read more about income statements here:

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8 0

1 year ago

Smart Stream Inc. uses the total cost method of applying the cost-plus approach to product pricing. The costs of producing and s

Amiraneli [1.4K]

Answer:

(a). Total variable Cost = $2,890,000

Total variable Cost Per Unit = $289

(b). Variable Cost Markup Percentage = 12.46%

(c). Selling Price Per Unit = $325

Explanation:

According to the scenario, computation of the given data are as follow:-

a). Total Fixed Cost = Selling and Administrative Expenses + Factory Overhead

= $140,000 + $350,000 = $490,000

Fixed Cost Per Unit = Total Fixed Cost ÷ Cost of Produced and Selling Units

= $490,000 ÷ 10,000 = $49

Total variable Cost Per Unit = Fixed Cost Per Unit + Variable Cost Per Unit

= $49 + $240 = $289

Total variable Cost = Cost of Produced and Selling Units × Total Cost Per Unit

= 10,000 × $289 = $2,890,000

b). Desired Profit = Invested Assets × 30%

= $1,200,000 × 30÷100 = $360,000

Variable Cost Markup Percentage = Desired Profit ÷ Total Cost

=$360,000 ÷ $2,890,000 = 0.1246 = 12.46%

c). Selling Price Per Unit = (1 + Variable Cost Markup Percentage) × Total Cost Per Unit

= (1 + 12.46%) × $289

= 1.1246 × $289

= $325

7 0

3 years ago

The following data are for Lily Kay Company. Total sales revenue $250,000 Number of units sold 50,000 units Contribution margin

eduard

Answer:

b. 51,429 units

Explanation:

If x = Number of units

Net Income = Sales Revenue - Variable Cost - Fixed Cost

or

Net Income = Contribution Margin - Fixed Cost

where,

Net Income = $80,000

Contribution Margin per unit = $3.50

Fixed Cost = $100,000

Contribution Margin = Net Income + Fixed Cost

$3.50x = $80,000 + $100,000

$3.50x = $180,000

Dividing the above equation by $3.50 we get

x = $180,000 / $3.50

x = 51,429 units

Hence 51,429 number of units must be sold to generate the net income of $80,000.

3 0

3 years ago

Master Hatter's demand for hats is 25,000 per year. The order cost is $425 and the carrying cost is $4.50 per unit. The cost pai

laiz [17]

Answer with its Explanation:

Part A. Economic order quantity Computation

Economic order quantity can be calculated by using the following formula:

EOQ = Squaroot of (2* D * S / H)

Here

Ordering cost per order is $425 which is S

Annual Holding cost per unit per year is $4.5 which is H

Annual Demand is 25000 Units

By putting values, we have:

EOQ = (2 * 25000 * $425 / $4.5) ^(1 / 2) = 2173 Hats

Part B.

Total Cost at EOQ = Purchasing Cost + Total Ordering cost + Holding Cost

By putting values, we have:

Total Cost = 25,000 Units * $25 per unit + ($25,000 / 2173 Hats) * $425 + (2173 Hats / 2) * $4.5 = $634,778 Annual Cost

Part C.

For ordering at-least 2000 units per order, the total cost would be:

Total Cost under 2000 order quantity = 25,000 * $25 per unit + (25000/2000) * $425 + (2000/2) * $4.5

Total Cost under 2000 order quantity = $634,813

By ordering at least 2000 hats will bring a loss of $35 ($634,778 - $634,813), hence Master Hatter must only order in EOQ.

6 0

3 years ago

In double-entry bookkeeping, what is an account?

vredina [299]

Double-entry bookkeeping, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account. The double entry has two equal and corresponding sides known as debit and credit.

5 0

3 years ago