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bagirrra123 [75]
3 years ago
8

Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant ra

nge of production is 500 units to 1,500 units): Sales $ 24,800 Variable expenses 13,600 Contribution margin 11,200 Fixed expenses 7,728 Net operating income $ 3,472 Foundational 5-1 Required: 1. What is the contribution margin per unit? (Round your answer to 2 decimal places.)
Business
1 answer:
Liula [17]3 years ago
4 0

Answer:

11.2 per unit

Explanation:

Oslo Company

Contribution margin per unit =

(Sales - Variable Expenses) / Sales volume

= (24,800 - 13,600) / 1,000

= 11,200 / 1,000

= 11.2 per unit

Therefore the contribution margin per unit is 11.2

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Tiptoe shoes had annual revenues of $201,000, expenses of $111,700, and dividends of $24,400 during the current year. the retain
Andreyy89

Entry to close the income summary account at the end of the year:


At the time of closing the Income Summary account, the Income Summary account is debited and Retained earnings account is credit with the amount of Net Income. Net Income can be calculated as follows:


Net income =  Revenue – Expenses  = 201,000-111,700 = $89,300


Hence the entry to close the income summary account at the end of the year shall be as follows;


Income Summary Debit  $89,300

Retained earnings Credit $89,300





4 0
3 years ago
Dufner Co. issued 14-year bonds one year ago at a coupon rate of 7.9 percent. The bonds make semiannual payments. If the YTM on
valentinak56 [21]

Answer:

Bond price= $1,210.4

Explanation:

Giving the following information:

Coupon rate= 0.079/2= 0.0395

YTM= 0.056/2= 0.028

Face value= $1,000

n= 13*2= 26

<u>To calculate the price of the bond, we need to use the following formula:</u>

Bond Price​= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]

Bond price= 39.5*{[1 - (1.028^-26)]/0.028} + [1,000 / 1.028^26]

Bond price= 722.67 + 487.73

Bond price= $1,210.4

4 0
3 years ago
Graham Petroleum produces oil. On May 1, it had no work-in-process inventory. It started production of 244 million barrels of oi
lisov135 [29]

Answer:

Explanation:

Number of completed barrels = 216 + (244-216)*60%

= 233 barrels

Cost per barrel = (3245+3230)/233 = 27.8

Cost of oil shipped in pipeline = 216 * 27.8= 6003 millions

Cost of work in process ending inventory = (244-216)*60% * 27.8

= 467.04 million

4 0
3 years ago
The Bay Fig Corporation has $350,000 of taxable income from operations for the current year, and dividends of $50,000 received f
Natali5045456 [20]

Answer: $25,000

Explanation:

When a company owns less than 20% of another company and receives dividends from that company, they are allowed to deduct 50% of that dividend for tax purposes.

Bay Fig owns 10%(less than 20%) of the domestic corporations so qualifies for the 50% reduction:

= Dividends * 50%

= 50,000 * 50%

= $25,000

3 0
3 years ago
A small craft store located in a kiosk expects to generate annual cash flows of $6,800 for the next three years. At the end of t
Dafna11 [192]

Answer:

The monetary value is $24,201.23

Explanation:

Giving the following information:

Cash flows:

Year 1= $6,800

Year 2= 6,800

Year 3= 6,800

Year 4= $15,000.

The discount rate is 15 percent.

We need to discount each cash flow to the present value:

PV= FV/(1+i)^n

Year 1= 6,800/1.15= 5,913.04

Year 2= 6,800/1.15^2= 5,141.78

Year 3= 6,800/1.15^3= 4,471.11

Year 4= 15,000/ 1.15^4= 8,576.30

Total= $24,201.23

6 0
3 years ago
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