Using the equation method

Assignment Help Financial Accounting
Reference no: EM131289340

Lin Corporation has a single product whose selling price is $140 and whose variable expense is $70 per unit. The company’s monthly fixed expense is $32,350.

1. Using the equation method, determine for the unit sales that are required to earn a target profit of $7,900. (Round up your answer to the nearest whole number.)

2. Using the formula method, determine for the unit sales that are required to earn a target profit of $8,500.(Round up your answer to the nearest whole number.)

Reference no: EM131289340

Questions Cloud

Appear on the bank statement : If a company made a bank deposit on September 30 that did not appear on the bank statement dated September 30, in preparing the September 30 bank reconciliation, the company should:
Journal entries-record transaction : On Sept 1, 2015, Jefferson Corp. sold $285,000 of x ray equipt. to Einstein General who agreed to pay within 20 days. Additionally, if Einstein paid within 7 days they would receive a 2% discount. Record the following journal entries: Record the paym..
Considering income limitations or the standard deduction : In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) neither deductible for nor deductible from AGI before considering income limitations or the standard deduction. Fran spent $97 fo..
Annual units sold-sales price and development time : Consider the following products: (a) a power screwdriver for use in the home; (b) a desktop. Inkjet printer; (c) an electric car. Using Web based resources, make your estimate of the following factors needed for the development project to launch each..
Using the equation method : Lin Corporation has a single product whose selling price is $140 and whose variable expense is $70 per unit. The company’s monthly fixed expense is $32,350. Using the equation method, determine for the unit sales that are required to earn a target pr..
An expense should be recorded when : An expense should be recorded when: The financial statement that shows business results in terms of revenue and expenses is: James purchased a new computer for the company on account. The transaction will:
The net income or net loss is calculated : ABC Inc. has total assets of $45,000. What are the total assets if new equipment is purchased for $5,000 cash? The net income or net loss is calculated on the: Julie billed her legal clients $5,000 for legal work completed during the month. This tran..
Total liabilities decreased : If assets increased by $8,000 and the total liabilities decreased by $2,000 during the accounting period, what is the change in the owner’s equity amount? Paul invested cash in his new business. What effect will this have?
What are some of the disadvantages to the clubcard program : Discuss the four basis business activities that are performed in the revenue cycle business activities. What are some of the disadvantages to the Clubcard program? Give some examples of strategic and operational decisions that need to be made in the ..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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