Manufactures single product that has selling price

Assignment Help Financial Accounting
Reference no: EM131253572

Frank Corporation manufactures a single product that has a selling price of $20.00 per unit. Fixed expenses total $42,000 per year, and the company must sell 6,000 units to break even. If the company has a target profit of $14,000, sales in units must be:

Reference no: EM131253572

Questions Cloud

The company degree of operating leverage : Alpha Corporation reported the following data for its most recent year: sales, $660,000; variable expenses, $360,000; and fixed expenses, $225,000. The company's degree of operating leverage is:
Compliance with generally accepted accounting principles : Gaijin Corporation was formed two years ago to manufacture tractor parts. It has been profitable and is growing rapidly. It currently has 150 shareholders and 90 employees; most of the employees own at least a few shares of Gaijin's stock. Explain wh..
Identify possible monetary-nonmonetary performance measures : Matt Parker operates a number of auto dealerships for Ford and Mitsubishi. Identify possible monetary and nonmonetary performance measures for each of the following situations. One nonmonetary measure should relate to quality, and one should relate t..
Journalize the necessary adjusting entries : The following information for Drake Company, which adjusts and closes its accounts every December 31, is available for 2016: Salaries accrued but unpaid total $2,840 on December 31, 2016. The $247 December utility bill arrived on December 31 and has ..
Manufactures single product that has selling price : Frank Corporation manufactures a single product that has a selling price of $20.00 per unit. Fixed expenses total $42,000 per year, and the company must sell 6,000 units to break even. If the company has a target profit of $14,000, sales in units mus..
Revenue or expense should be recorded : For each transaction, indicate in the space provided how much, if any, revenue or expense should be recorded in April, 2016. Sold a computer to a customer in the amount of $3,000. Delivered the computer in April. Customer paid in May, 2016. Received ..
Consistent with internal revenue service circular : How might charitable giving impact the income, gift, or estate tax outcome for your client? Is there an optimal strategy? Recommend an ethical compliance strategy based on the client’s comments about a valuation discount on the family limited partner..
What are the variable expenses per unit : Lindon Company is the exclusive distributor for an automotive product that sells for $33.00 per unit and has a CM ratio of 34%. The company’s fixed expenses are $157,080 per year. The company plans to sell 15,000 units this year. What are the variabl..
First year on both notes using effective-interest method : On January 1, 2014, Ellen Greene Company makes the two following acquisitions. Purchases land having a fair value of $299,000 by issuing a 4-year, zero-interest-bearing promissory note in the face amount of $453,903. Record the interest at the end of..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Managerial accounting techniques

Managerial accounting techniques are: The method of least squares is a statistical technique which is more precise but similar to. Jose Company uses a job order cost system. At the end of an accounting period, Jose has a debit balance in the Factory ..

  When the federal government makes a direct loan

When the federal government makes a direct loan at an interest rate below the prevailing Treasury rate (a subsidized loan), an asset should be recorded for which of the following amounts? The face amount of the loan.

  What effect did this have on york''s 20x5 financial statement

For investments in TRADING SECURITIES, which of the following market value changes are recognized in earnings and what effect did this have on York's 20X5 financial statements

  Create a two way data table for net income by varying

Create a two-way data table for net income by varying:- Create a chart with sensitivity analysis that graphically represents the data table from (a).

  The cost of an equivalent unit is equal

The cost of an equivalent unit is equal to:

  Evaluate the direct materials price and efficiency variances

Evaluate the direct materials price and efficiency variances for the year and evaluate the direct labor price and efficiency variances for the year and determine the efficiency variances and variable overhead spending for the year

  Prepare entry to record farrin investment in partnership

Prepare the entry to record Farrin's investment in the partnership, assuming the equipment has a fair market value of $5,000.

  Calculate the companys net income for 2010

Calculate the operating income for Manahan Co. for the year ended December 31, 2010 and calculate the company's net income for 2010.

  Income before irregular items

Utech Company has income before irregular items of $306,700 for the year ended December 31, 2014.

  Produce the consolidated financial statements

Prepare the worksheet necessary to produce the Consolidated Financial Statements for Petunia and Sunflower for the year ended Dec 31, 2013.

  Question mason phillips age 45 and his wife ruth live at

question mason phillips age 45 and his wife ruth live at 230 wood lane salt lake city ut 84101. masons social security

  What would be the impact on the companys overall profit

If the special order were accepted, what would be the impact on the company's overall profit?

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