Oriole Industries produces and sells a cell phone-operated home security control systems. Information regarding the costs and salesduring May 2022 is as follows.Unit selling priceUnit variable costsTotal monthly fixed costsUnits sold$55.00$31.90$125,0008,300Prepare a CVP income statement for Oriole Industries for the month of May. (Round per unit answers to 2 decimal places, e.g. 15.25.)Oriole IndustriesCVP Income Statement$$Total$$Per UnitPercent of Sales%%%

Marginal Costing Income Statement is One of the Important Cost Management Accounting Techniques.…

Answered: Oriole Industries produces and sells a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Crane Industries produces and sells a cell phone-operated home security control systems. Information regarding the costs and sales during May 2022 is as follows. Unit selling price $45.00 Unit variable costs $25.20 Total monthly fixed costs $124,000 Units sold 8,400 Prepare a CVP income statement for Crane Industries for the month of May. (Round per unit answers to 2 decimal places, e.g. 15.25.)
In April of 2021, Best Speaker Company expects to sell 470 bluetooth speaker units. Expenses are as follows: Cost of goods sold is P178 per unit Shipping costs are P31 per unit Miscellaneous costs are P10 per unit Salaries are P80,000 per month Rent is P20,000 per month Utilities are P10,000 per month Calculate the following for April 2021: A. Variable Operating Expense B. Fixed Operating Expense C. Total Operating Expense
Norton, Inc. has the following information available for September 2020. Unit selling price of video game consoles 400 Unit variable costs 280 Total fixed costs 48,000 Units sold 500 Instructions (a) Prepare a CVP income statement that shows both total and per unit amounts. (b) Compute Norton's breakeven in units.
Oriole Manufacturing Ltd. had sales for January 2022 of $1,025,000. The units sold were 20,500, and the expenses for January 2022 were as follows: Variable Fixed Cost of goods sold $209,100 $123,000 Selling expenses 63,550 31,775 Administrative expenses 27,675 32,800 Prepare a detailed CVP income statement for the month ended January 31, 2022. (Round per unit cost to 2 decimal places, e.g. 15.25.)
Breakeven Analysis Andreea Ltd. manufactures t-shirts, which sell at £15 each. Table 5 shows the sales and total costs for the period July 2020 to December 2020. Monthly fixed costs have been the same each month and it is expected they will remain constant for the remainder of the financial year (up to and including March 2021). Table 5 – Sales Volume and Total Costs Month Sales (Units) Total Costs July 14,502 195,020 August 15,000 200,400 September 13,320 183,200 October 19,100 241,000 November 24,806 308,060 December 36,000 400,000 Required for this part (The report should not exceed 400 words in total.) With reference to Table 5 and using the high-low method, estimate the variable cost per t-shirtproduced and sold. Show your calculations. Using the high-low method, estimate the monthly fixed cost. Show your calculations. Using the information in…
Breakeven Analysis Andreea Ltd. manufactures t-shirts, which sell at £15 each. Table 5 shows the sales and total costs for the period July 2020 to December 2020. Monthly fixed costs have been the same each month and it is expected they will remain constant for the remainder of the financial year (up to and including March 2021). Table 5 – Sales Volume and Total Costs Month Sales (Units) Total Costs July 14,502 195,020 August 15,000 200,400 September 13,320 183,200 October 19,100 241,000 November 24,806 308,060 December 36,000 400,000 How many t-shirts does the company need to produce and sell to achieve a profit target of £200,000 in January 2021? Show your calculations. What is the margin of safety for January 2021, assuming the profit target for that month has beenachieved? Show your calculations. Write a 400-word report, addressed to the sales…
ABM Enterprise reported business transactions for a certain month in 2020: Unit Price, P55.75; Variable Cost Per Unit, P25.50, and Total Fixed Cost, P45,375.00. a. Compute for the number of units to be sold in order to break-even. b. How is the amount of sales to break-even?
Crane Inc. had sales of $2,390,000 for the first quarter of 2022 (it sold 239,000 units). In making the sales, the company incurred the following costs and expenses. Cost of goods sold Selling expenses Administrative expenses Sales Prepare a CVP income statement for the quarter ended March 31, 2022. (Round per unit answers to 2 decimal places, e.g. 15.25.) Variable Costs Contribution Margin Fixed Costs Variable $976,000 116,000 103,000 Net Income/(Loss) Fixed $488,000 95,000 129,000 CRANE INC. CVP Income Statement For the Quarter Ended March 31, 2022 V Total $ Per Unit Percent of Sales 100 % % %
The Abigail Company produces and sell two products, X and Y. Cost and revenue data on the products follow: Product X Product Y P24 Selling price per unit Variable cost per unit Contribution margin per unit P20 12 6. P8 P18 In the most recent month, the company sold 400 units of Product X and 800 units of Product Y. Fixed expenses are P10,000 per month. REQUIRED: 1. Prepare a comparative income statement for both products on the most recent monthly projections. 2. Compute the company's overall monthly break-even point in peso sales.
Remar, Inc. reported the following results from sales of 5,000 units of Product C for the month of June 2019 (refer to the attached picture): Assume that Remar, Inc. increases the selling price of Product C by 10% on July 1, 2019. How many units of Product C would have to be sold in July 2019 in order to generate an operating income of P20,000? sales 200,000 variable cost 120,000 fixed cost 60,000 operating income 20,000
1. Given that selling, distribution and administrative costs associated with the V380PRO brand of WIFI SMART camera bulbs for the quarter were $27,255, $42,400 and $145,600 respectively, prepare an income statement for Sim-Jo-La (V380PRO) for the quarter ended June 30, 2020.
Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR 600,000 and fixed expenses were OMR 300,000. What is the break-even point in units? Select one: O a. 750,000 O b. 400,000 C. 75,000 d. 37,500 O e. None of the answers are correct Next na ENG 16:0 INTL 27/04/2

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