Determine unit sales that are required to earn target profit

Assignment Help Financial Accounting
Reference no: EM131222024

Lin Corporation has a single product whose selling price is $135 and whose variable expense is $81 per unit. The company’s monthly fixed expense is $23,580. Using the equation method, determine for the unit sales that are required to earn a target profit of $4,500. Using the formula method, determine for the unit sales that are required to earn a target profit of $9,500. (Round up your answer to the nearest whole number.)

Reference no: EM131222024

Questions Cloud

What is the purpose of an in-circuit emulator : Cloud Computingis used as a means to provide off-site computing power to an organization. Describe the three main types of Cloud Computing platforms. What is the purpose of the control unit in a channel architecture? What type of computer generall..
Impacted as result of this change in accounting principle : At the beginning of 2012, Lion Company decided to change from the average cost inventory cost flow assumption to the FIFO cost flow assumption for financial reporting purposes. What is the adjustment required to Retained Earnings at the beginning of ..
Does a rights offer cause a share price decrease : Describe the role that the "winner's curse" may play in the underpricing of IPOs. - Does a rights offer cause a share price decrease? Why or why not?
Design a data cube structure to support this preference : At times, a user may want to drill through the cube to the raw data for one or two particular dimensions. How would you support this feature?
Determine unit sales that are required to earn target profit : Lin Corporation has a single product whose selling price is $135 and whose variable expense is $81 per unit. The company’s monthly fixed expense is $23,580. Using the equation method, determine for the unit sales that are required to earn a target pr..
Summarize your findings in a simple bullet-point list : Refer to the case scenario that was provided to you in this unit's lab. By now, you will have created the comprehensive asset list in order of importance of each asset. For this assignment, you need to create an executive summary that explains you..
Tax tables and the tax rate schedules : Jayden calculates his 2015 income tax by using both Tax Tables and the Tax Rate Schedules. Because the Tax Rate Schedules yeild a slightly lower tax liability, he plans to pay this amount. Why is there a difference? Is Jayden's approach permissible? ..
Main types of sandwiches : Panbo Inc. is a fast food restaurant which offers 4 main types of sandwiches: Pando - classic (C), Pando - premium (P), Pando - exotic (E), and Pando - ultimate (U). Every day, the restaurant operates for 10 hours and it is expecting to sell 500 s..
Analysis of the current issues the organisation is facing : The Chief Executive Office and Chief Information Officer was impressed by analysis of the current issues the organisation is facing and the recommendations you provided

Reviews

Write a Review

Financial Accounting Questions & Answers

  Spiro company produces commercial gardening equipment

Spiro Company produces commercial gardening equipment. Since production is highly automated, the company allocates its overhead costs to product lines using activity-based costing. The costs and cost drivers associated with the four overhead activity..

  Calculate the horizontal analysis on total revenues

Below is the Trial Balance for Clay Employment Services, year ending December 31, 2011.  Previous period's information were as follows: net receivables, $290,000 and inventory, $82,000.  Total revenues were $350,000 for 2010, 360,000 for 2009, ..

  Discuss some of the costs that a company might incur

Discuss some of the costs that a company might incur as part of its converging with International Accounting Standards.

  Determine amount of the amortization or depletion expense

Determine amount of the amortization or depletion expense for the current year for each of the foregoing items.

  Calculate the return on equity

Calculate the return on equity from the information - Henry's return on common stockholder's equity, rounded to the nearest percentage point, for 2007

  Return on equity and leverage

Money, Inc., has no debt outstanding and a total market value of $240000 Earnings before interest and taxes, EBIT, are projected to be $28,000 if economic conditions are normal. Calculate return on equity (ROE) under each of the three economic scenar..

  How much are estimated monthly variable costs

Winny's Office Furniture has a contribution margin ratio of 16%. If fixed costs are $183,300, how many dollars of revenue must the company generate in order to reach the break-even point and how much are estimated monthly variable costs using the h..

  Statement of cash flows using the indirect method

Electronic Wonders reports net income of $95,000. The accounting records reveal Depreciation Expense of $50,000 as well as increases in Prepaid Rent, Accounts Payable, and Income Tax Payable of $40,000, $23,000, and $20,000, respectively. Prepare the..

  Compare inventory costing method and current gaap standards

For the company IBM compare and contrast the following pronouncements and the current GAAP standards: Inventory costing method (IAS2), Valuation of the property plant and equipment (IAS16) and Fair value measurement standards (IFRS 13)

  Prepare schedules showing the amount and percentage changes

Prepare schedules showing the amount and percentage changes from 2013 to 2014 for the comparative income statements and the balance sheets.

  Activity based costing

East Coast Marine Ltd (ECM) manufactures parts for small marine craft.-  Over the past decade, ECM's management has met its goal of reducing its reliance on government contract work to 50 per cent of total sales.

  Are joe expectations rational

Considering that it snows only once every ten years where Joe lives, Joe’s expectations are almost always perfectly accurate.” Are Joe’s expectations rational?

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