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Scholes Systems supplies a particular type of office chair to large retailers such as Target, Costco, and Office Max. Scholes is concerned about the possible effects of inflation on its operations. Presently, the company sells 65,000 units for $66 per unit. The variable production costs are $33, and fixed costs amount to $1,300,000. Production engineers have advised management that they expect unit labor costs to rise by 15 percent and unit materials costs to rise by 15 percent in the coming year. Of the $33 variable costs, 50 percent are from labor and 25 percent are from materials. Variable overhead costs are expected to increase by 15 percent. Sales prices cannot increase more than 10 percent. It is also expected that fixed costs will rise by 10 percent as a result of increased taxes and other miscellaneous fixed charges. The company wishes to maintain the same level of profit in real dollar terms. It is expected that to accomplish this objective, profits must increase by 6 percent during the year. Required: (a)Compute the volume in units and the dollar sales level necessary to maintain the present profit level, assuming that the maximum price increase is implemented. Volume in units Sales volume $ (b)Compute the volume of sales and the dollar sales level necessary to provide the 6 percent increase in profits, assuming that the maximum price increase is implemented. Volume of sales in units Sales volume $ (c)If the volume of sales were to remain at 65,000 units, what price change would be required to attain the 6 percent increase in profits?
purnina produces dog and cat food. each food is comprised of meat soybeans and fillers. the company earns a profit on
Hannah Company maintains two separate accounts payable computer systems. One is known to all the users, and is used to process payments to vendors.
Office Supplies has assets equal to $137,000 and liabilities equal to $110,000 at year-end. What is the total equity for office Supplies at year-end?
How do you calculate the net loss?
on march152011birkshire energy obtained a nine-month working capital loan from the first national bank of oglesby. the
Grayson Bank agrees to lend the Trust Company $100,000 on January 1. Trust Company signs a $100,000, 9%, 9-month note. What is the adjusting entry required if Trust Company prepares financial statements on June 30?
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y company offers its customers credit of 210n 30. most customers take advantage of the cash discount mailing their
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fred carson delivers parts for several local auto parts stores. he charges clients 0.75 per mile driven. fred has
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