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Ksenya-84 [330]
3 years ago
13

The following static budget is provided: Units 27,000 Units Sales $ 270,000 Less variable costs: Manufacturing costs $ 94,500 Se

lling and administrative costs $ 56,700 Contribution margin $ 118,800 Less fixed costs: Manufacturing costs $ 29,700 Selling and administrative costs $ 17,550 Net income $ 71,550 What will budgeted net income equal if 25,000 units are produced and sold? (Do not round intermediate calculations.)
Business
2 answers:
valentinak56 [21]3 years ago
4 0

Answer:

$62,750

Explanation:

The computation of budgeted net income is shown below:-

Budgeted income = (Contribution Margin × Units produced and sold ÷ Units) - Manufacturing costs - Selling and administrative costs

= ($118,800 × 25,000 ÷ 27,000) - $29,700 - $17,550

= $110,000 - $29,700 - $17,550

= $62,750

Therefore for computing the Budgeted income we simply applied the above formula.

ICE Princess25 [194]3 years ago
3 0

Answer:

Net income 62,750

Explanation:

We solve for the contribution margin per unit. Then, we multiply this by the proposed level of activity and subtract the fixed cost:

contribution margin     118,800

units sales                     27,000

contribution per unit:        4.40

If 25,000 units are produced:

contribution margin 25,000 x 4.40 = 110,000

fixed cost:

manufacturing cost 29,700

S&A cost                 <u>   17,550   </u>

total fixed                  47,250

Net income 62,750

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These items are taken from the financial statements of Windsor, Inc. at December 31, 2017.
nordsb [41]

Answer:

To make balance sheet we first have to calculate net income/net profit for the year.

<em><u>Net profit Calculation</u></em>

Service revenue            $ 13,524

Insurance expense        ($     718 )

Depreciation expense   ($ 4,876)

Interest expense           ($ 2,392)

Profit                              $ 5,538

<em><u></u></em>

Balance Sheet

Asset

Non-Current Asset

Land                                                            $56,304                                                            

Buildings                                                     $97,336

Accumulated depreciation—buildings      ($41,952)

Equipment                                                   $75,808

Accumulated depreciation—equipment   ($17,222)

Total non Current Asset                            $170,274

Current Asset

Cash                                                              $10,893

Accounts receivable                                    $11,592

Prepaid insurance                                         $2,944

Current Asset                                               $25,429

Total Asset                                                   $195,703

Equity

Common stock                                              $55,200

Retain Earning (36,801+5,538)                     $42,339

Total Equity                                                   $97,539

Liability

Non-Current Liability

Current Liability

Accounts payable                                           $8,740

Notes payable                                                $86,112

Interest payable                                               $3,312

Total Current Liability                                  $98,164

Total Liability + Equity                                $195,703

5 0
3 years ago
Pierce Corporation exchanged old equipment for new equipment. The original cost of the old equipment was $120,000, and its accum
ololo11 [35]

Answer:

new equipment                   50,000 debit

accumulated depreciation  40,000 debit

loss at disposal:                   30,000 debit

                   old equipment               120,000 credit

--to record trade of equipment--

Explanation:

Let's break the transactions into small parts:

We need to remove the old equipment from accounting along with their accumulated depreciation so:

accumulated depreciation 40,000 debit

                   old equipment               120,000 credit

Then, we debit the new equipment at fair value:

new equipment 50,000 debit

Last, assuming the trade has commercial substance: we recognize the gain or loss on sale:

book value of traded equipment: 80,000

fair value of new equipment:         50,000

loss at disposal:                              30,000

<u>Thus, the journal entry will be as follows:</u>

new equipment                   50,000 debit

accumulated depreciation  40,000 debit

loss at disposal:                   30,000 debit

                   old equipment               120,000 credit

4 0
3 years ago
When is it permissible to access nonâ€""va websites for personal use using va computers?
sergiy2304 [10]

It is permissible to access non-VA websites for personal use through VA computers during break time or after duty hours for a short time.

<h3>What is a non-VA website?</h3>

A non-VA website simply refers to a type of website that isn't approved for continuous use by the Veterans Health Administration (VA), especially during work hours.

This ultimately implies that, it is only permissible to access non-VA websites for personal use through VA computers during break time or after duty hours for a short time.

Read more on non-VA websites here: brainly.com/question/944026

#SPJ1

<u>Complete Question:</u>

When is it permissible to access non-VA websites for personal use using VA computers?

4 0
2 years ago
Read 2 more answers
On May 27, Hydro Clothing Inc. reacquired 75,000 shares of its common stock at $8 per share. On August 3, Hydro Clothing sold 54
marta [7]

Answer:

Journalize the transactions of May 27, August 3, and November 14.

Explanation:

                                       deb               cre

may-27 Treasury Stock            600000  

(75000*8)  

Cash                                             600000

   

ago-03 Cash                             594000  

(54000*11)  

Treasury Stock                               432000

(54000*8)  

Paid in capital for treasury stock         162000

   

nov-14 Cash                              147000  

(21000*7)  

Treasury stock                                    168000

(21000*7)  

Paid in capital for treasury stock 21000  

4 0
3 years ago
The Eccleston Company has the following budgeted sales: January $40,000, February $60,000, and March $50,000. 40% of the sales a
Sophie [7]

Answer:

B) $50,000

Explanation:

Month         total sales                $ collected                   outstanding credit

January      $40,000                 $16,000                                 $24,000

February    $60,000      $24,000 + $12,000                   $12,000 + $36,000          

March         $50,000   $20,000 + $12,000 + $18,000    $18,000 + $30,000

during March, Eccleston should collect ($50,000 x 40% from current sales) + ($24,000 x 50% from January) + ($36,000 x 50% from February) = $20,000 + $12,000 + $18,000 = $50,000

8 0
2 years ago
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