Goslin Company sold 27,000 units last year at $14 each. Variable cost was $9.50, and fixed costs

Question:

Goslin Company sold 27,000 units last year at $14 each. Variable cost was $9.50, and fixed costs were $126,000.

Required:

1. Prepare an income statement for Goslin Company for last year.

2. Calculate the break-even point in units.

3. Calculate the units that Goslin must sell to earn operating income of $9,900 next year.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cornerstones of Managerial Accounting

ISBN: 978-0324660135

3rd Edition

Authors: Mowen, Hansen, Heitger

See More Books

Question Posted: Feb 03, 2012 06:45 AM

See More Questions

According to Rankine, the soil in the profile below could be in either passive or active state. The wall is 2.5m thick, unit weight of concrete is 25kN/m3. 20m 3.1. 3.2. 3.3. 100kPa p' = 30 Ybulk =...
Chelseao plc. pays dividends that are expected to grow at 5% each year. Dividends will stop growing at the end of year 5, at which point the firm will pay out all its earnings as dividends. The next...
On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $60,000. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries...
Epic Trucking's equity has a market value of $15 million with 700,000 shares outstanding. The book value of its equity is $9 million. a. What is Epic's stock price per share? What is its book value...
Identify the difference between the circuit breaker and the disconnect switch.
What distinction did Dahl and Lindblom make between markets and polyarchies? What are the strengths and weaknesses of each? LO.1
Identifying financial versus managerial accounting items Required Indicate whether each of the following items is representative of managerial or of financial accounting. a. Information is provided...
otional Cumulative final 21 Klein Interiors has the following account balances at the end of the your use only the appropriate accounts to be sheet $ Account quipment Accounts payable Common stock...
How do you think Liedtke (Problem 14.14) and the directors in Problem 14.15 will be able to reconcile their differences? Problem 14.15 Of course, Liedtke is not operating by himself in the...
The controller of Sandoval Company prepared the following projected income statement: Sales ...............$90,000 Less: Variable costs ........72,000 Contribution margin ........ $18,000 Less: Fixed...
Prachi Company produces and sells disposable foil baking pans to retailers for $2.45 per pan. The variable costs per pan are as follows: Direct materials ........$0.27 Direct labor ..........0.58...
Using the information provided in BE14- 18, prepare the amortization table for the first two years, assuming Stark uses the straight- line method. In BE14-18 Using the information provided in BE14-...
In 2022, Andrew, who is single, has a comfortable salary from his job as well as income from his investment portfolio. However, he is habitually late in filing his federal income tax return. He did...
1. What is the cost of direct materials used? 2. What is the cost of indirect materials used? 3. What is the cost of direct labour? 4. What is the cost of indirect labour? 5. What is the cost of...
Finding Critical Values. In Exercises 5-8, find the critical value za/2 that corresponds to the given confidence level. 5. 90% 6. 99%
You are an attorney at the law firm that represents Danfield's Auto Express. Your supervisor, Attorney Donna Defense, wants you to draft an internal memorandum of law to her assessing whether or not...
I desperately need help in this assignment, please help me!! Case Study Assignment You have recently been recruited by Velvet Chocolates Lid, a chocolate manufacturer, as an assistant management...
Stock Transactions and the Stockholders Equity Section The following is Saratoga Springs Companys stockholders equity section of the balance sheet on December 31, 2008: Required: 1. Journalize the...
From the choice of simple moving average, exponential smoothing, and linear regression analysis, which forecasting technique would you consider the most accurate? Why? please write it in word...
a. What is a stock market bubble? A stock market crash? b. What are NYSE circuit breakers? What are they intended to do? c. What is a major difference between the Crash of October 1929 and the Crash...
The following accounts and account balances are available for Badger Auto Parts at December 31, 2009: Accounts Payable .................... $ 9,200 Accounts Receivable ................... 41,100...
The bookkeeper for Riley, Inc., made the following errors: a. A cash purchase of supplies of $357 was recorded as a debit to Supplies for $375 and a credit to Cash of $375. b. A cash sale of $3,154...
The accountant for Boatsman Products, Inc., received the following information: a. Boatsman sent its customers a new price list. Prices were increased an average of 3 percent on all items. b....
Production numbers for 2 shifts are shown. The shift supervisor of Shift 2 insists to the production manager that her operators are more productive than the ones on Shift 1. Using a confidence level...
In a class, the scores that students got are as shown. What are the 25, 50, 75 and 100th percentiles for the data? 84 84 98 80 89 83 85 56 85 84 84 74 84 81 83 80 45 86 67 79 81 78 76 85 83 77 86 83...
Number of points made by Teams A and B are shown. Which statement is true based on running the F-Test Two-Sample for Variances in the Data Analysis pack in Excel? Use a confidence level of 10% to...

Goslin Company sold 27,000 units last year at $14 each. Variable cost was $9.50, and fixed costs

Question:

Step by Step Answer:

1 Sales 14 27000 378000 Variable cost 950 27000 256500 ...View the full answer

Cornerstones of Managerial Accounting

Students also viewed these Managerial Accounting questions