Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 28, 2024

Swifty Corporation requires sales of $ 1200000 to cover its fixed costs of $ 700000 and to earn net income of $ 200000 . What

Swifty Corporation requires sales of $ 1200000 to cover its fixed costs of $ 700000 and to earn net income of $ 200000. What percent are variable costs of sales?

25.0%

16.7%

58.3%

75.0%

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

Fundamentals Of Information Risk Management Auditing An Introduction For Managers And Auditors

Authors: Chris Wright

1st Edition

978-1849288156

More Books

Students also viewed these Accounting questions

Question

★★★★★

Morris Inc. recorded the following transactions over the life of a piece of equipment purchased in 2016: Jan. 1, 2016 ....Purchased equipment for $90,000 cash. The equipment was estimated to have a...

Answered: 1 week ago

Question

★★★★★

Calculate the expected return on a portfolio of 70 percent Roll and 30 percent Ross by filling in the following table: Note: A negative value should be indicated by a minus sign. Do not round...

Answered: 1 week ago

Question

★★★★★

What psychological reactions do women have to menopause? How does this information compare with (a) your previous knowledge about menopause before reading this chapter, and (b) the general publics...

Answered: 1 week ago

Question

★★★★★

Rachael Ray Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000 2. Issued common stock for $20,000 3. Recorded depreciation of $17,000 4. Paid salaries of $9,000 5....

Answered: 1 week ago

Question

★★★★★

Problem 7-12 Modified Accelerated Cost Recovery System (MACRS), Election to Expense, Listed Property, Limitation on Depreciation of Luxury Automobiles (LO 7.4, 7.5, 7.6, 7.7) During 2015, William...

Answered: 1 week ago

Question

★★★★★

A 35-year loan is to be repaid by half-yearly repayments of 8,000 starting in 6 months at an interest rate of 2.7% p.a. compounded half yearly. Or, it can be repaid by year-end repayments of $X...

Answered: 1 week ago

Question

★★★★★

Great Outdoors Airlines, Inc., operates leased amphibious aircraft and docking facilities, equipping the firm to transport campers and hunters from British Columbia, Canada, to outpost camps owned by...

Answered: 1 week ago

Question

★★★★★

Ashley Conners owns La Jolla Art Company, a firm providing designs for advertisers, market analysts, and others. On July 1, the business's general ledger showed the following normal account balances:...

Answered: 1 week ago

Question

★★★★★

University Sales had the following transactions for T-shirts for 2011, its first year of operations. During the year, University Sales sold 725 T-shirts for $\$ 20$ each. Required a. Compute the...

Answered: 1 week ago

Question

★★★★★

The following information pertains to Ping Company for 2011. Ending inventory consisted of 30 units. Ping sold 210 units at $\$ 50$ each. All purchases and sales were made with cash. Required a....

Answered: 1 week ago

Question

★★★★★

The following is partial information for Xavier Companys most recent year of operation. Xavier manufactures childrens shoes and categorizes its operations into two divisions, Girls and Boys....

Answered: 1 week ago

Question

★★★★★

(Appendices) PURCHASES, SALES, AND COST OF GOODS SOLD. Printer Supply Company sells computer printers and printer supplies. One of its products is toner cartridges for laser printers. At the...

Answered: 1 week ago

Question

★★★★★

(Appendices) PERIODICAND PERPETUAL INVENTORY SYSTEMS. A list of inventory-system characteristics is presented below. Match each characteristic with one of the following: (A) periodic inventory...

Answered: 1 week ago

Question

★★★★★

(Appendices) ENDING INVENTORY AND COST OF GOODS SOLD. Hempstead Company has the following data for 19x9: LO8

Answered: 1 week ago

Previous Question Next Question