Bountiful company had the following functional

Assignment Help Accounting Basics
Reference no: EM131020697

Bountiful Company had the following functional income statement for the month of May, 2011:

Bountiful Company

Functional Income Statement

For the Month Ending May 31, 2011

Sales (15,000 units)

 

$300,000

Cost of goods sold:

   

Direct materials

$60,000

 

Direct labor

45,000

 

Variable manufacturing overhead

37,500

 

Fixed factory overhead

50,000

192,500

Gross profit

 

$107,500

Selling and administrative expenses:

   

Variable

$ 7,500

 

Fixed

20,000

    27,500

Net income

 

$ 80,000

Calculate Bountiful’s break-even sales in units.

Reference no: EM131020697

Questions Cloud

The following are two of the jobs completed during the year : Leo Company has identified the following overhead costs and cost drivers for next year:
What must the liquidating dividend be : JJ Industries will pay a regular dividend of $0.75 per share for each of the next four years. At the end of four years, the company will also pay out a liquidating dividend. If the discount rate is 12 percent, and the current share price is $75, what..
What is the duration of this bond : A bond currently sells for $1,030, which gives it a yield to maturity of 6%. Suppose that if the yield increases by 30 basis points, the price of the bond falls to $990. What is the duration of this bond?
Zero coupon bond-what was your total return for past year : You purchased a zero coupon bond one year ago for $173.85. The market interest rate is now 9 percent. If the bond had 20 years to maturity when you originally purchased it, what was your total return for the past year? Assume semiannual compounding. ..
Bountiful company had the following functional : Bountiful Company had the following functional income statement for the month of May, 2011:
What is the operating cash flow for ebc : During 2014, Eagle Beach Company (EBC) had sales of $575,000, cost of goods sold of $425,000, administrative and selling expenses of $95,000, depreciation expense of $140,000 and interest expense of $70,000. The tax rate is 35 percent. Ignore any tax..
Operational risk management for wal-mart : In operational risk management for Wal-Mart evaluate the 2 areas that have the biggest risk and what recommendations you have to offset this risk.
Issues of standard and localization in general for mne : What are the issues of standard and localization in general for MNEs and how do they particularly manifest themselves in HRM activities?
Would you buy this townhouse today as an investment : Someone who owns a townhouse wrote to a real estate advice columnist to ask whether he should sell his townhouse or wait and sell it in the future when he hoped that prices would be higher. The columnist replied: "Ask yourself: Would you buy this ..

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  What are the two types of audit tests

What are the two types of audit tests?  What are some examples of each of these two types of tests?  How will the auditor use the data gathered from these tests?

  Harper co provided the following information concerning two

harper co. provided the following information concerning two products contribution margin per unit- product 12 46

  Determine the test statistic

For each data set, determine the test statistic, T +. What percentage of the observations in each data set has plus signs? Informally, what does this indicate about the possibility  that  the  true median in each  case is as postulated?

  Computing bad debt expense

The balance in Accounts Receivable was $200,000 at 1/1 and $240,000 at 12/31. At 12/31/10, Smithson estimates that 5% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2010?

  Book value of equity aquired and value implied

Prepare a computation and allocation schedule for the difference between book value of equity aquired and the value implied by the pruchase price.

  On january 1 2013 bishop company issued 10 bonds dated

on january 1 2013 bishop company issued 10 bonds dated january 1 2013 with a face amount of 520 million. the bonds

  Unamortized discount on the bonds

Maas Enterprises has $2,190,000 of 6 percent bonds outstanding. There is $40,000 of unamortized discount remaining on the bonds after the March 1, 2011, semiannual interest payment.

  Bozeman sold equiptment that it uses in its business for

bozeman sold equiptment that it uses in its business for 80000. bozenman bought the equiptment two years ago for

  Rigsby appropriately uses the installment sale method

On December 15, 2011 Risby Sales Co. sold a track of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sale method of accounting for this transaction.

  Prepare general journal entries for the following

prepare general journal entries for the following transactions on december 17 on your market paid 1500 to keystone

  A job was budgeted to require three hours of labor per unit

a job was budgeted to require three hours of labor per unit at 8 per hour. the job consisted of 8000 units and was

  Summary of a specific business communication technology

Write an individual 350-word summary of a specific business communication technology from the list of interests and discuss its present and potential future impact on business communication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd