Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 14, 2024

Variable costs as a percentage of sales for Craig, Inc. are 70%, current sales are $600,000, and income from operations is $70,000. What is the

Variable costs as a percentage of sales for Craig, Inc. are 70%, current sales are $600,000, and income from operations is $70,000. What is the amount of fixed costs?

a.$180,000

b.$110,000

c.$310,000

d.$530,000

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

Management Audit Approach In Writing Business History A Comparison With Kennedys Technique On Railroad History

Authors: Allen Bures

1st Edition

1138980277, 978-1138980273

More Books

Students also viewed these Accounting questions

Question

★★★★★

Distinguish between the stand-alone and the incremental revenue-allocation methods.

Answered: 1 week ago

Question

★★★★★

The function f : x 2 4x + k is defined for the domain x p , where k and p are constants. i. Express f(x) in the form (x + a) 2 + b + k, where a and b are constants. ii. State the range of f in...

Answered: 1 week ago

Question

★★★★★

Explainwhyconditionalindependencebetween Y and X1, given X2, doesnotimplymarginal independencebetween Y and X1. Toillustratethis,sketchahypotheticalscatterplotbetween y and x1...

Answered: 1 week ago

Question

★★★★★

Lashkova Company had accounts receivable of $100,000 on January 1, 2014. The only transactions that affected accounts receivable during 2014 were net credit sales of $1,000,000, cash collections of...

Answered: 1 week ago

Question

★★★★★

Variable costs as a percentage of sales for Craig, Inc. are 70%, current sales are $600,000, and income from operations is $70,000. What is the amount of fixed costs? a.$180,000 b.$110,000 c.$310,000...

Answered: 1 week ago

Question

★★★★★

Using variable costing. what is the operating income for last year? A. $75,300 B. $236,300 C. $397,300 D. $1,360,000 hoops and seas The Cata to salOS and o' the hoa Selling unit Variable...

Answered: 1 week ago

Question

★★★★★

While we briefly touched upon some forecasting in the class in terms of correlations (if you remember back in Week 4), I did want to provide two additional stories on forecasting and that is...

Answered: 1 week ago

Question

★★★★★

Draw a 3-level diagram of the network, operations, and process levels within your own workplace.

Answered: 1 week ago

Question

★★★★★

Simply put, it gave the impression that things were three times larger than they actually were. He improved the design of the telescope so that it could zoom in eight times and then thirty. The...

Answered: 1 week ago

Question

★★★★★

Makeup product (e.g. any one item such as eyeshadows, foundation etc. ) Hint: How will you obtain feedback about competitors' similar products? Use survey or other method for collecting customer...

Answered: 1 week ago

Question

★★★★★

During July, the following are given: Standard unit price 12.50 Standard Quantity Allowed for actual production 6,300 units Actual unit purchase price Quantity purchased and used for production...

Answered: 1 week ago

Question

★★★★★

Why do employers rate listening as one of the top skills they expect employees to have? (Objective 1)

Answered: 1 week ago

Question

★★★★★

Technology.Free riders,people who dont contribute to a teams success but share in the credit given for team accomplishments, are often cited as a problem in school-based group projects. What can the...

Answered: 1 week ago

Question

★★★★★

Is conflict always unhealthy? Why or why not? (Objective 4)

Answered: 1 week ago

Previous Question Next Question