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help with homework, Basic Statistics
1. Penny Pincher, Inc. had a contribution margin of $33,000 on sales of $50,000 and had fixed costs of $18,000. Calculate its breakeven point in sales dollars.
2. Krueger Company has a variable cost percentage of 32% on a product that sells for $28 per unit. Fixed costs are $30,000. Krueger wants to know how many units must be sold (a) to break even and (b) to earn a profit of $15,000. Ignore income taxes.
3. Kibble Company had the following functional income statement for the month of July 2011:
Kibble Company
Functional Income Statement
For the Month Ending July 31, 2011
Sales ($40 x 25,000) $1,000,000
Cost of goods sold:
Direct materials ($8 x 25,000) $200,000
Direct labor ($6 x 25,000) 150,000
Variable factory overhead ($5.00 x 25,000) 125,000
Fixed factory overhead 180,000  655,000
Gross profit $ 345,000
Selling and administrative expenses:
Variable ($1.00 x 25,000) $25,000
Fixed 60,000  85,000
Net income
$ 260,000
Calculate Kibble Company''s breakeven sales in units
4. Crazy Crafters is a manufacturer of furniture items. The company is considering the possibility of offering a new coffee table that would sell for $415 each. Cost to manufacture these coffee tables includes $135 in materials and $80 in direct labor for each coffee table. Variable marketing and selling costs would be $25 each. In order to manufacture these coffee tables, the company would need to incur $525,000 in fixed costs for new equipment.
a. Compute the breakeven point of the coffee tables in units sold.
b. What would be the total revenue at the breakeven point?
c. How many units would Crazy Crafters need to sell to earn a profit of $157,500?
d. If fixed costs in fact are $595,000 rather than $525,000, how many units would need to be sold in order to earn $157,500?
5. Rosebudâ€™s income statement is as follows:
Sales (20,000 units) $100,000
Less variable costs  60,000
Contribution margin $40,000
Less fixed costs  24,000
Net income $12,000
If sales increase by $15,000, by how much will net income increase?
6. For the following case, compute the missing values indicated by the letters.
Case A
Unit sales 800
Sales revenue $40,000
Variable cost per unit $35
Total Contribution Margin A
Fixed costs $2,500
Operating income B
Unit contribution margin C
Breakeven point (units) D
Posted Date: 4/29/2012 4:38:48 PM  Location : United States
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