1 Nikkel Corporation, a merchandising company, reported the following results for July Sales 402800 Cost of goods sold(all variable) 169100 Total variable selling expense 17100 Total fixed selling expense 14200 Total variable administrative expense 7600 Total fixed administrative expense 30100 The contribution margin for July is A $333,800 B $209,000 C $233,700 D $164,700 2 Job 731 was recently completed The following data have been recorded on its job cost sheet Direct materials 2391 Direct labor ours 69 labor hours Direct labor wage rate 13 per labor hour Machine hours 129 machine hours The company applies manufacturing overhead on the basis of machine hours The predetermined overhead rate is $14 per machine hour The total cost that would be recorded on the job cost sheet for Job 731 would be a $4,254 b $3,288 c $2,418 d $5,094 3 Perona Corporation produces and sells a single product Data concerning that product appear below selling price per unit 160 00 variable expense per unit 70 40 fxed expense per month 385280 The unit sales to attain the company's monthly target profit of $9,000 is closest to A 2,464 units B 4,400 units C 4,155 units D 5,601 units 4 The following is last month's contribution format income statement sales (12000units) 1200000 variable expenses 700000 contribution margin 500000 fixed expenses 300000 net operating income 200000 What is the company's margin of safety percentage to the nearest whole percent A 20 B 40 C 42 D 17 5 The January contribution format income statement of Brotherton Corporation appears below sales 179800 variable expenses 75400 contribution margin 104400 fixed expenses 75700 net operating income 28700 The degree of operating leverage is closest to A 0 27 B 0 16 C 3 64 D 6 26 6 The following is Allison Corporation's contribution format income statement for last month sales 800000 variable expenses 300000 contribution margin 500000 fixed expenses 400000 net operating income 100000 The company has no beginning or ending inventories The company produced and sold 10,000 units last month What is the company's break even sales in dollars A $640,000 B $700,000 C $0 D $400,000 7 EZ Rental Car offers rental cars in an off airport location near a major tourist destination in Florida Management would like to better understand the behavior of the company s costs One of those costs is the cost of washing cars The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer Management believes that the costs of operating the car wash should be related to the number of rental returns Accordingly, the following data have been compiled Month Rental Returns Car Wash costs January 2,490 $ 11,913 February 2,543 $ 13,591 March 2,821 $ 12,705 April 3,144 $ 15,649 May 3,720 $ 17,134 June 5,221 $ 25,055 July 5,612 $ 23,070 August 5,718 $ 24,430 September 4,808 $ 23,660 October 4,458 $ 23,783 November 2,286 $ 11,630 December 3,125 $ 17,381 Required Using least squares regression, estimate the fixed cost and variable cost elements of monthly car wash costs (Round the Variable cost per unit to 2 decimal places and Fixed cost to the nearest dollar amount Omit the $ sign in your response ) What is Fixed cost $ What is Variable cost per unit $ 8 Megna Company's net income last year was $143,000 Changes in the company's balance sheet accounts for the year appear below increases (decreases) asset and contra asset accounts cash 3000 accounts receivable 5000 inventory (8000) prepaid expenses 9000 long term investments 70000 property, plant and equipment 55000 accumulated depreciation 58000 liability and equity accounts accounts payable 14000 accrued liabilities 9000 income taxes payable (21000) bonds payable (50000) common stock 30000 retained earnings 94000 The company paid a cash dividend and it did not dispose of any long term investments or property, plant, and equipment The company did not issue any bonds payable or repurchase any of its own common stock The following questions pertain to the company's statement of cash flows The net cash provided by (used in) operating activities last year was $139,000 $197,000 $201,000 $143,000 The net cash provided by (used in) investing activities last year was $95,000 $(95,000) $125,000 $(125,000) The net cash provided by (used in) financing activities last year was $(20,000) $20,000 $(69,000) $69,000 1 Nikkel Corporation, a merchandising company, reported the following results for July Sales 402800 Cost of goods sold(all variable) 169100 Total variable selling expense 17100 Total fixed selling expense 14200 Total variable administrative expense 7600 Total fixed administrative expense 30100 The contribution margin for July is A $333,800 B $209,000 C $233,700 D $164,700 2 Job 731 was recently completed The following data have been recorded on its job cost sheet Direct materials Direct labor ours Direct labor wage rate Machine hours 2391 69 labor hours 13 per labor hour 129 machine hours The company applies manufacturing overhead on the basis of machine hours The predetermined overhead rate is $14 per machine hour The total cost that would be recorded on the job cost sheet for Job 731 would be 3 Perona Corporation produces and sells a single product Data concerning that product appear below selling price per unit 160 00 variable expense per unit 70 40 fxed expense per month 385280 The unit sales to attain the company's monthly target profit of $9,000 is closest to A 2,464 units B 4,400 units C 4,155 units D 5,601 units 4 The following is last month's contribution format income statement sales (12000units) 1200000 variable expenses 700000 contribution margin 500000 fixed expenses 300000 net operating income 200000 What is the company's margin of safety percentage to the nearest whole percent A 20 B 40 C 42 D 17 5 The January contribution format income statement of Brotherton Corporation appears below sales 179800 variable expenses 75400 contribution margin 104400 fixed expenses 75700 net operating income 28700 The degree of operating leverage is closest to 6 The following is Allison Corporation's contribution format income statement for last month sales 800000 variable expenses 300000 contribution margin 500000 fixed expenses 400000 net operating income 100000 The company has no beginning or ending inventories The company produced and sold 10,000 units last month What is the company's break even sales in dollars A $640,000 B $700,000 C $0 D $400,000 7 EZ Rental Car offers rental cars in an off airport location near a major tourist destination in Florida Management would like to better understand the behavior of the company's costs One of those costs is the cost of washing cars The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer Management believes that the costs of operating the car wash should be related to the number of rental returns Accordingly, the following data have been compiled Month January February Rental Returns 2,490 2,543 Car Wash costs $ $ 11,913 13,591 March 2,821 $ 12,705 April 3,144 $ 15,649 May 3,720 $ 17,134 June 5,221 $ 25,055 July 5,612 $ 23,070 August 5,718 $ 24,430 September 4,808 $ 23,660 October 4,458 $ 23,783 November 2,286 $ 11,630 December 3,125 $ 17,381 Required Using least squares regression, estimate the fixed cost and variable cost elements of monthly car wash costs (Round the Variable cost per unit to 2 decimal places and Fixed cost to the nearest dollar amount Omit the $ sign in your response ) What is Fixed cost What is Variable cost per unit $ $ 8 Megna Company's net income last year was $143,000 Changes in the company's balance sheet accounts for the year appear below increases (decreases) asset and contra asset accounts cash 3000 accounts receivable 5000 inventory (8000) prepaid expenses 9000 long term investments 70000 property, plant and equipment 55000 accumulated depreciation 58000 liability and equity accounts accounts payable 14000 accrued liabilities 9000 income taxes payable (21000) bonds payable (50000) common stock 30000 retained earnings 94000 The company paid a cash dividend and it did not dispose of any long term investments or property, plant, and equipment The company did not issue any bonds payable or repurchase any of its own common stock The following questions pertain to the company's statement of cash flows The net cash provided by (used in) operating activities last year was $139,000 $197,000 $201,000 $143,000 The net cash provided by (used in) investing activities last year was $95,000 $(95,000) $125,000 $(125,000) The net cash provided by (used in) financing activities last year was $(20,000) $20,000 $(69,000) $69,000

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1 Nikkel Corporation, a merchandising company, reported the following results for July: Sales 402800 Cost of goods sold(all variable) 169100 Total variable selling expense 17100

1 Nikkel Corporation, a merchandising company, reported the following results for July: Sales 402800 Cost of goods sold(all variable) 169100 Total variable selling expense 17100 Total fixed selling expense 14200 Total variable administrative expense 7600 Total fixed administrative expense 30100 The contribution margin for July is: A $333,800 B $209,000 C $233,700 D $164,700 2 Job 731 was recently completed. The following data have been recorded on its job cost sheet: Direct materials 2391 Direct labor-ours 69 labor-hours Direct labor wage rate 13 per labor-hour Machine-hours 129 machine-hours The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 731 would be: a $4,254 b $3,288 c $2,418 d $5,094 3 Perona Corporation produces and sells a single product. Data concerning that product appear below: selling price per unit 160.00 variable expense per unit 70.40 fxed expense per month 385280 The unit sales to attain the company's monthly target profit of $9,000 is closest to: A 2,464 units B 4,400 units C 4,155 units D 5,601 units 4 The following is last month's contribution format income statement: sales (12000units) 1200000 variable expenses 700000 contribution margin 500000 fixed expenses 300000 net operating income 200000 What is the company's margin of safety percentage to the nearest whole percent? A 20% B 40% C 42% D 17% 5 The January contribution format income statement of Brotherton Corporation appears below: sales 179800 variable expenses 75400 contribution margin 104400 fixed expenses 75700 net operating income 28700 The degree of operating leverage is closest to: A 0.27 B 0.16 C 3.64 D 6.26 6 The following is Allison Corporation's contribution format income statement for last month: sales 800000 variable expenses 300000 contribution margin 500000 fixed expenses 400000 net operating income 100000 The company has no beginning or ending inventories. The company produced and sold 10,000 units last month. What is the company's break-even sales in dollars? A $640,000 B $700,000 C $0 D $400,000 7 EZ Rental Car offers rental cars in an off-airport location near a major tourist destination in Florida. Management would like to better understand the behavior of the company?s costs. One of those costs is the cost of washing cars. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the costs of operating the car wash should be related to the number of rental returns. Accordingly, the following data have been compiled: Month Rental Returns Car Wash costs January 2,490 $ 11,913 February 2,543 $ 13,591 March 2,821 $ 12,705 April 3,144 $ 15,649 May 3,720 $ 17,134 June 5,221 $ 25,055 July 5,612 $ 23,070 August 5,718 $ 24,430 September 4,808 $ 23,660 October 4,458 $ 23,783 November 2,286 $ 11,630 December 3,125 $ 17,381 Required: Using least-squares regression, estimate the fixed cost and variable cost elements of monthly car wash costs. (Round the "Variable cost per unit" to 2 decimal places and "Fixed cost" to the nearest dollar amount. Omit the "$" sign in your response.) What is Fixed cost $ What is Variable cost per unit $ 8 Megna Company's net income last year was $143,000. Changes in the company's balance sheet accounts for the year appear below: increases (decreases) asset and contra-asset accounts: cash 3000 accounts receivable 5000 inventory (8000) prepaid expenses 9000 long-term investments 70000 property, plant and equipment 55000 accumulated depreciation 58000 liability and equity accounts: accounts payable 14000 accrued liabilities 9000 income taxes payable (21000) bonds payable (50000) common stock 30000 retained earnings 94000 The company paid a cash dividend and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) operating activities last year was: $139,000 $197,000 $201,000 $143,000 The net cash provided by (used in) investing activities last year was: $95,000 $(95,000) $125,000 $(125,000) The net cash provided by (used in) financing activities last year was: $(20,000) $20,000 $(69,000) $69,000 image text in transcribed

1 Nikkel Corporation, a merchandising company, reported the following results for July: Sales 402800 Cost of goods sold(all variable) 169100 Total variable selling expense 17100 Total fixed selling expense 14200 Total variable administrative expense 7600 Total fixed administrative expense 30100 The contribution margin for July is: A $333,800 B $209,000 C $233,700 D $164,700 2 Job 731 was recently completed. The following data have been recorded on its job cost sheet: Direct materials Direct labor-ours Direct labor wage rate Machine-hours 2391 69 labor-hours 13 per labor-hour 129 machine-hours The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 731 would be: 3 Perona Corporation produces and sells a single product. Data concerning that product appear below: selling price per unit 160.00 variable expense per unit 70.40 fxed expense per month 385280 The unit sales to attain the company's monthly target profit of $9,000 is closest to: A 2,464 units B 4,400 units C 4,155 units D 5,601 units 4 The following is last month's contribution format income statement: sales (12000units) 1200000 variable expenses 700000 contribution margin 500000 fixed expenses 300000 net operating income 200000 What is the company's margin of safety percentage to the nearest whole percent? A 20% B 40% C 42% D 17% 5 The January contribution format income statement of Brotherton Corporation appears below: sales 179800 variable expenses 75400 contribution margin 104400 fixed expenses 75700 net operating income 28700 The degree of operating leverage is closest to: 6 The following is Allison Corporation's contribution format income statement for last month: sales 800000 variable expenses 300000 contribution margin 500000 fixed expenses 400000 net operating income 100000 The company has no beginning or ending inventories. The company produced and sold 10,000 units last month. What is the company's break-even sales in dollars? A $640,000 B $700,000 C $0 D $400,000 7 EZ Rental Car offers rental cars in an off-airport location near a major tourist destination in Florida. Management would like to better understand the behavior of the company's costs. One of those costs is the cost of washing cars. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the costs of operating the car wash should be related to the number of rental returns. Accordingly, the following data have been compiled: Month January February Rental Returns 2,490 2,543 Car Wash costs $ $ 11,913 13,591 March 2,821 $ 12,705 April 3,144 $ 15,649 May 3,720 $ 17,134 June 5,221 $ 25,055 July 5,612 $ 23,070 August 5,718 $ 24,430 September 4,808 $ 23,660 October 4,458 $ 23,783 November 2,286 $ 11,630 December 3,125 $ 17,381 Required: Using least-squares regression, estimate the fixed cost and variable cost elements of monthly car wash costs. (Round the "Variable cost per unit" to 2 decimal places and "Fixed cost" to the nearest dollar amount. Omit the "$" sign in your response.) What is Fixed cost What is Variable cost per unit $ $ 8 Megna Company's net income last year was $143,000. Changes in the company's balance sheet accounts for the year appear below: increases (decreases) asset and contra-asset accounts: cash 3000 accounts receivable 5000 inventory (8000) prepaid expenses 9000 long-term investments 70000 property, plant and equipment 55000 accumulated depreciation 58000 liability and equity accounts: accounts payable 14000 accrued liabilities 9000 income taxes payable (21000) bonds payable (50000) common stock 30000 retained earnings 94000 The company paid a cash dividend and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) operating activities last year was: $139,000 $197,000 $201,000 $143,000 The net cash provided by (used in) investing activities last year was: $95,000 $(95,000) $125,000 $(125,000) The net cash provided by (used in) financing activities last year was: $(20,000) $20,000 $(69,000) $69,000