Maintain the same level of net income

Assignment Help Accounting Basics
Reference no: EM13132861

Lagerfield Company reported the following results from the sale of 5,000 hammers in May: sales $200,000, variable costs $120,000, fixed costs $60,000, and net income $20,000. Assume that Lagerfield increases the selling price of hammers by 10% on June 1. How many hammers will have to be sold in June to maintain the same level of net income?

Reference no: EM13132861

Questions Cloud

Infinite series sum : The sum of the infinite series, 1/2^2 - 2/3^2 + 3/4^2 - 4/5^2 + ... is given as pi^2/12 - log 2 on pages 64-65 in the book "Summation of Series" by L. B. W. Jolley, 2nd ed., 1961, Dover Pubs. Inc. (the ^ symbol denotes exponentiation in the above ..
Prepare the entry to record depreciation for 2013 : Machinery purchased for $72,280 by Carver Co. in 2008 was originally estimated to have a life of 8 years with a salvage value of $5,560 at the end of that time. Depreciation has been entered for 5 years on this basis.
Need more trained staff members-office space is limited : We need more trained staff members, office space is limited, and the budget for overtime is much too small."
Explain borane forms complexes with sulfides and amines : Borane forms complexes with sulfides and amines. Draw a suitable structure to represent the complex formed between BH3 and dimethyl sulfide
Maintain the same level of net income : Assume that Lagerfield increases the selling price of hammers by 10% on June 1. How many hammers will have to be sold in June to maintain the same level of net income?
What minimum score student need to score in top the test : If the scores are approximately normal with mean 544 and standard deviation 103, what minimum score would a student need in order to score in the top 10% of those taking the test?
Explain the infrared spectrum of the xanthene reduction : The infrared spectrum of the xanthene reduction product contains evidence that demonstrates that conjugation of the rings is still maintained
United kingdom : You need a Visa to enter in to United Kingdom, Write a motivation Letter why you want to Visit England and you need to State a very good reasons why you need a 2years Visa. Below are some clue
Explain marlowe''s loyalty to sternwood : In 'The Big Sleep' by Raymond Chandler, Explain Marlowe's loyalty to Sternwood. What are Marlowe's reasons for being so loyal?

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Consolidating financial statements

Intercompany transactions are very important in the consolidation process. Choose an intercompany transaction. Discuss the effects of intercompany transactions when consolidating financial statements. Your discussion should include the effects on ..

  Notes payable and accured interest

Mikor has an account payable of 7,700$ due to Smiley Inc. one of its suppliers. The amount was due to be paid on October 15, 2007. Use the horizontal model, or write the journal entry to show the effect of :

  Problem regarding transactions

During the year, Ruby corporation, a calendar year taxpayer, has the following transactions:

  Highest point of trajectory

A golfer's tee shot follows a path given by y = 64t - 16t^2, where y is the height of the ball (in feet) after t seconds of flight. Halfway through its flight, the golf ball reaches the highest point of its trajectory. How high is that?

  Question regarding value of common stock

A firm has experienced a constant annual rate of dividend growth of 9 percent on its common stock and expects the dividend per share in the coming year to be $2.70.

  Standard direct material cost for cloth

The cost of the cloth is $3 per yard. The standard direct material cost for cloth per unit of finished product is:

  What amount was transferred to finished goods

Actual production required an overhead cost of $560,000, $1,100,000 in materials used, and $440,000 in labor. All of the goods were completed. What amount was transferred to Finished Goods?

  Management discussion and analysis

Define the management's discussion and analysis. Describe in a memo, the major items disclosed in this section of the financial report.

  Transactions relating to shareholders equity

Ripoff Corporation was organized on January 3, 2003. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2003, Ripoff had the following transactions relating to shareholders' equity:

  Data for segments of the organization

When an income statement shows data for segments of the organization, and data for each segment are added together to get totals for the whole organization:

  Journal entries of raptor corporation

On July 1, 2002, Raptor Corporation, a wholesaler of used robotic equipment, issued $7,500,000 of ten-year, 10% bonds at an effective interest rate of 12%, Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year o..

  Stock issuances and repurchase

Loxley Corporation is authorized to issue 50,000 shares of $10 par value common stock. During 2010, Loxley took part in the following selected transactions.

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