Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jan 11, 2021

Lake Sales had $2,300,000 in sales last month. The contribution margin ratio was 40% and operating profits were $180,000. What sales volume does Lake's need

Lake Sales had $2,300,000 in sales last month. The contribution margin ratio was 40% and operating profits were $180,000. What sales volume does Lake's need to yield a $370,000 operating profit?

Step by Step Solution

★★★★★

3.42 Rating (161 Votes )

There are 3 Steps involved in it

Step: 1

Sales 2300000 Contribution margin2300000 x 40920000 Less ... 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

Step: 3

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

Construction accounting and financial management

Authors: Steven j. Peterson

2nd Edition

135017114, 978-0135017111

More Books

Students also viewed these Management Leadership questions

Question

★★★★★

What are the contribution margin and the contribution margin ratio for the company in Problem 1 if $15,000 of the overhead is considered variable overhead? In Problem 1 A construction company has...

Answered: 1 week ago

Question

★★★★★

What are the contribution margin and the contribution margin ratio for the company in Problem 2 if $53,000 of the overhead is considered variable overhead? In Problem 2 A construction company has...

Answered: 1 week ago

Question

★★★★★

The contribution margin ratio of Thronson Corporation's only product is 61%. The company's monthly fixed expense is $456,300 and the company's monthly target profit is $42,300. Required: Determine...

Answered: 1 week ago

Question

★★★★★

Let U=(1,2,3,4,5,6,7,8,9,10,11,12,13,14), M=(2,4,5,6,7), and N={9,10,11,12,13,14,15). Find MON. MON (Use ascending order. Use a comma to separate answers as needed.) =

Answered: 1 week ago

Question

★★★★★

What is a ladder logic diagram?

Answered: 1 week ago

Question

★★★★★

A skier moves down a 12 slope at constant speed. What can you say about the coefficient of friction, k? Assume the speed is low enough that air resistance can be ignored.

Answered: 1 week ago

Question

★★★★★

1. Can they separate relevant from irrelevant information?

Answered: 1 week ago

Question

★★★★★

1. From a strategic standpoint, what are the arguments against uncontrolled information technology in the workplace? 2. What is your personal stance on Technology Populism? What are the implications...

Answered: 1 week ago

Question

★★★★★

Using the Internet, identify community or regional organizations that provide opportunities to assist disadvantaged populations in learning how to swim. Evaluate both public and private organizations...

Answered: 1 week ago

Question

★★★★★

Johannes Inc. acquired 80 percent of Corner Brook Ltd. common shares on January 1, Year 4, for $720,000. At that date, the fair value of the noncontrolling interest was $180,000. Corner Brooks...

Answered: 1 week ago

Question

★★★★★

An extendible bond allows an investor to extend the A. ownership of a short-term bond but the return is generally higher. B. ownership of a short-term bond but the return is generally lower. C....

Answered: 1 week ago

Question

★★★★★

Miller Company's contribution format income statement for the most recent month is shown below: Sales (20,000 units) Variable expenses Contribution margin Fixed expenses Total $ 300,000 180,000...

Answered: 1 week ago

Question

★★★★★

Table below shows the concentration of dissolve oxygen for a BOD test, diluted by 100. Time (days) Diluted sample DO (mg/L) 0 7.95 1 3.75 2 3.45 3 2.75 4 2.15 5 1.8 i. Determine BOD5 ii. Given the...

Answered: 1 week ago

Question

★★★★★

Why are Confidence intervals often misinterpreted and commonly confused with the probability that something is likely to happen

Answered: 1 week ago

Question

★★★★★

A goes to B's shop & purchases a silk saree thinking that it is made ofBanarast silk. The shopkeepers knows that 'A's thinking is wrong. Hehowever, does not correct 'A's impression latter on, when 4...

Answered: 1 week ago

Question

★★★★★

Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a...

Answered: 1 week ago

Question

★★★★★

I have a Question, How do i get part a journal entries, Income tax expense for (25580) and deferred tax asset for (3750). Page 3 & 4 are the solutions. CCT 20002 INTERMEDIATE FINANCIAL...

Answered: 1 week ago

Question

★★★★★

Teasdale Inc. manufactures and sells commercial and residential security equipment. The comparative unclassified balance sheets for December 31, 2015 and 2014 are provided below. Selected missing...

Answered: 1 week ago

Question

★★★★★

Determine the annual equivalent for Problem 5. Should your company purchase the dump truck? In Problem 5, your company is looking at purchasing a dump truck at a cost of $65,000. The truck would have...

Answered: 1 week ago

Question

★★★★★

Determine the break-even contribution margin ratio for a company with a fixed overhead of $92,000, revenues of $450,000, and a required level of profit of $45,000.

Answered: 1 week ago

Question

★★★★★

For the loan in Problem 11, determine the monthly interest for the first and second months and the outstanding principal at the end of the first and second months. In Problem 11, determine the...

Answered: 1 week ago

Question

★★★★★

=+b. What are the penalties for exceeding the upper specification?

Answered: 1 week ago

Question

★★★★★

=+a. The number of flaws per square foot in a large sheet of metal

Answered: 1 week ago

Question

★★★★★

=+4. Citrus products must have a certain sugar content, measured in degrees Brix, to be judged satisfactory to sell to grocery stores. Suppose that a certain batch of oranges fails to meet the...

Answered: 1 week ago

Previous Question Next Question