In 2018, Paton Ltd.s margin of safety was 24% of the break-even sales level of $2,450,000 (at
Question:
In 2018, Paton Ltd.’s margin of safety was 24% of the break-even sales level of $2,450,000 (at $49 per unit). The (actual) annual fixed costs amounted to $860,000.
Required:
What was the annual income in 2018?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
At the breakeven point contribution margin fixed co...View the full answer
Answered By
Rinki Devi
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and helped them achieve great subject knowledge.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Introduction to Managerial Accounting
ISBN: 978-1259105708
5th Canadian edition
Authors: Peter C. Brewer, Ray H. Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan
Question Posted:
Students also viewed these Business questions
-
For 2012, Bayside Corporation sold 130,000 units of its product for $35 each. The variable cost per unit was $30, and Bayside's margin of safety was 30,000 units. What was the amount of Bayside's...
-
Vines and Daughter manufactures and sells swimsuits for $40 each. The estimated income statement for 2012 is as follows: Sales ........................................$2,000,000 Variable costs...
-
Vines and Daughter manufactures and sells swimsuits for $40 each. The estimated income statement for 2017 is as follows: Sales ............................................$2,000,000 Variable costs...
-
One of the most common reasons why projects undergo scope changes is: A. Poor work breakdown structure B. Poorly defined statement of work C. Lack of resources D. Lack of funding
-
Given the graph of y = f (x), draw graphs of these related functions. a. b. c. 1-f(x+IX
-
The information below was extracted from the books of Bekker Traders, owner J. Bekker, on 30 June 20x2. Bekker Traders accounting period ends annually on 30 June. You are required to: Use the given...
-
Political expectations, inflation, and unemployment Consider a country with two political parties, Democrats and Republicans. Democrats care more about unemployment than Republicans, and Republicans...
-
Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Instructions (a) Indicate the missing amount for each letter. (b) Prepare a condensed cost of goods...
-
5. WORK HEALTH & SAFETY Provide at least three types of hazards, corresponding risks, rating and control measures. Risk Rating (Low/Medium/High) Control measures (Current/Required)
-
Mr Andersen Mr Andersen has just returned to the facility after being in hospital. He recently had a fall and sprained his right hand. He has been having sessions with the physiotherapist to regain...
-
Croftsman Company recorded the following information for its main product: Selling price per unit...................................................................$200 Costs per unit (at the normal...
-
Krueger Ltd. wishes to earn a before-tax profit equal to 20% of sales revenue. Its monthly fixed costs are $40,000 and contribution margin ratio is equal to 40%. Required: 1. Determine the annual...
-
What does it mean to say that a proposed merger will take advantage of available economies of scale? Suppose Eastern Power Co. and Western Power Co. are located in different time zones. Both operate...
-
How does the 360-degree feedback method address the court's six stress issues depicted in Gerhart and Newman's reading? Since the Brito case, there has been growing evidence that the courts have very...
-
CRM refers to the effective use of all available resources: human, hardware, and information. Other groups routinely working with the cockpit crew, who are involved in decisions required to operate a...
-
following 10words are taken from Brent Staples' essay "Why Race Isn't as "Black" and "White"as We Think." ridiculed surveyor Emancipation slave genetic screening ancestry arbitrary swarming snickered...
-
What role does role-taking, empathy, and perspective-taking play in fostering social understanding and cooperation among individuals occupying different roles within a social system ?
-
Read"Why Race Isn't as"Black"and White"as We Think"by Brent Staples. What can you find out about your own racial,religious,and cultural heritage? Search the Gateway library database: Ancestry Library...
-
On July 1, 2016, the Morgan County School District received a $50,000 gift from a local civic organization with the stipulation that, on June 30 of each year, $3,500 plus any interest earnings on the...
-
When the Department of Homeland Security created a color-coded system to prepare government officials and the public against terrorist attacks, what did it do right and what did it do wrong?
-
Refer to the information pertaining to Endless Mountain Company that is provided in Integration Exercise 8. In addition to the budget schedules that you prepared in Integration Exercise 8, insert a...
-
Endless Mountain Company manufactures a single product that is popular with outdoor recreation enthusiasts. The company sells its product to retailers throughout the northeastern quadrant of the...
-
Obtain the most recent annual report or SEC filing 10-K of a publicly traded company that interests you. It may be a local company or it may be a company in an industry that you would like to know...
-
If you could model yourself after one or more of the historical leaders we discussed in this chapter, whom would you model yourself after? Please learn more about the leader you chose. Identify two...
-
You are a market researcher. You've been asked to compare the way 2 news sources present the same issue for possible consideration by your market research department and public relations staff....
-
Explain about the application software available for Unix operating system?
Study smarter with the SolutionInn App