Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 04, 2024

Marengo Corporation's total costs at breakeven are $80,000 when it sells 20,000 units. These costs are 25% variable and 75% fixed. What is the company's

Marengo Corporation's total costs at breakeven are $80,000 when it sells 20,000 units. These costs are 25% variable and 75% fixed. What is the company's net income if it has sales of $100,000?

A. $20,000

B. $15,000

C. $18,000

D. $17,000

E. None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Auditing Trust And Governance Developing Regulation In Europe

Authors: Reiner Quick, Stuart Turley, Marleen Willekens

1st Edition

0415448905, 9780415448901

More Books

Students also viewed these Accounting questions

Question

★★★★★

What cases are reported in the Federal Rules Decisions?

Answered: 1 week ago

Question

★★★★★

Brain development is characterized by periods of rapid neural growth followed by periods of neural pruning. Development begins in evolutionarily older brain regions (e.g., brain stem, limbic system,...

Answered: 1 week ago

Question

★★★★★

The installation of a flexible manufacturing system allows firms to produce a variety of products in small batches. Assume Johnson Steel, a metal fabricating company, is considering switching from a...

Answered: 1 week ago

Question

★★★★★

" Table 1 shows a balance sheet for a certain company. All quantities shown are in millions of dollars. If the company buys new property, plant and equipment today using its entire cash balance, what...

Answered: 1 week ago

Question

★★★★★

In its first year of existence, BYC Corporation (a C corporation) reported a loss for tax purposes of ($40,000). How much tax will BYC pay in year 2 if it reports taxable income from operations of...

Answered: 1 week ago

Question

★★★★★

Typing your name at the end of an email typically constitutes an electronic signature under Queensland law. Provide an analysis and evaluation of the case law to date on whether an email header,...

Answered: 1 week ago

Question

★★★★★

identify any other country of interest to you besides the US, Iran, or Russia. You also should pick a country that no one else in your discussion board has analyzed. Then, post a short assessment of...

Answered: 1 week ago

Question

★★★★★

What term best describes that we have a proclivity to help those who are similar to us in terms of nationality, religion, race, gender, etc.?

Answered: 1 week ago

Question

★★★★★

Inspections are most effective when affected _____ actively participate in the inspection process. Active participation includes accompanying the inspector(s) on the walkthrough, serving as an...

Answered: 1 week ago

Question

★★★★★

A standard work year is 2 , 0 8 0 hours at the Luther Mill and it takes about 2 hours to fill a customer order. The manager at the mill is always concerned about employee idle time, so he aims for a...

Answered: 1 week ago

Question

★★★★★

Nationwide Financial, a 5,000-employee life insurance company based in Columbus, Ohio, found that its management development program contained four types of managers. One type, unknown leaders, have...

Answered: 1 week ago

Question

★★★★★

You have been asked to evaluate whether your organizations current pay structure makes sense in view of what competing organizations are paying. How would you determine what organizations to compare...

Answered: 1 week ago

Question

★★★★★

The chapter-opening story described how employers are shifting more employee health care costs to employees. What are the likely consequences of this change? Where does the social responsibility of...

Answered: 1 week ago

Previous Question Next Question