FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2019, X Company's profit function was 0.37R - $91,400, where R is revenue. In 2020, the relationship between revenue and variable costs will not

image text in transcribed

In 2019, X Company's profit function was 0.37R - $91,400, where R is revenue. In 2020, the relationship between revenue and variable costs will not change, but fixed costs will decrease by $13,710. Assuming a tax rate of 35%, what will revenue have to be in order for X Company to earn $46,200 after taxes in 2020? Submit Answer Tries 0/3

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Forensic And Investigative Accounting

Forensic And Investigative Accounting

Authors: D. Larry Crumbley, Lester E. Heitger, G. Stevenson Smith

6th Edition

0808034871, 9780808034872

More Books

Students also viewed these Accounting questions

Question

★★★★★
Fields from a Light Bulb we can reasonably model a 75-W incandescent light-bulb as a sphere 6.0 cm in diameter. Typically, only about 5% of the energy goes to visible light me rest goes largely to...

Answered: 1 week ago

Question

★★★★★
What are types of firms that exemplify monopolistic competition?

Answered: 1 week ago

Question

★★★★★
What are the benefits of studying psychology? (p. 17)

Answered: 1 week ago

Question

★★★★★
1. What was the total purchase price/ enterprise value of the transaction? 2. Why did Exxon Mobils shares decline and XTO Energys shares rise substantially immediately following the announcement of...

Answered: 1 week ago

Question

★★★★★
A Dodge Ram delivery truck purchased by Fresh Flowers is expected to last 3 years. The purchase price was $75,300. Shipping costs were $2,960. The trade-in value is $9,836. Prepare a depreciation...

Answered: 1 week ago

Question

★★★★★
Which of the following statements about inventory management is correct? a. Safety stock is additional inventory that a firm carries to guard against unexpected changes in sales. b. Outsourcing is...

Answered: 1 week ago

Question

★★★★★
8) Lant, a cash-basis taxpayer, owns a controlling interest in ABC, Inc. She told the bookkeeper of ABC not to write her dividend check until the beginning of January Year 2, even though all other...

Answered: 1 week ago

Question

★★★★★
The generally accepted principle of ethical behaviour is that it begins with: A B C D corporate leaders government leaders religious leaders you and me

Answered: 1 week ago

Question

★★★★★
A company that uses job order costing reports the following information for March. Overhead is applied at the rate of 60% of direct materials cost. The company has no beginning Work in Process or...

Answered: 1 week ago

Question

★★★★★
Jail and Sail: Alcatraz Tour and Cruise Contribution Income Statement Sales For the Month of July Less variable costs: Admission fees Overhead Hors d'oeuvres Selling and administrative Contribution...

Answered: 1 week ago

Question

★★★★★
Troy and Kristy Reynolds (both currently age 56) have determined that they will require retirement income equal to $93,000 in today's dollars, based on their current income. They plan to retire in...

Answered: 1 week ago

Question

★★★★★
Using the Type A/Type B personality traits, describe what you believe is John W. Thompsons personality.

Answered: 1 week ago

Question

★★★★★
Personality is a relatively stable set of traits that aids in explaining and predicting individual behavior. What are some of Mark Cubans traits that can explain his behavior during Mavericks games?

Answered: 1 week ago

Question

★★★★★
Would you describe Mark Cuban as a Type A or Type B personality type?

Answered: 1 week ago

Previous Question Next Question