Below is a list for Lolly's Lollipops expenses for the first half of 2023. Lolly sells...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Below is a list for Lolly's Lollipops expenses for the first half of 2023. Lolly sells each unit for $16. Expenses Revenue Direct Mat Direct Lab Sales Wages Rent Office Wages Jan 410,608 86,591 41,061 23,000 Feb 238,752 60,813 23,875 23,000 77,000 77,000 102,652 59,688 Mar 278,688 66,803 Apr 189,872 53,481 27,869 18,987 23,000 23,000 77,000 69,672 77,000 47,468 May Jun 222,608 175,392 58,391 51,309 22,261 23,000 17,539 23,000 77,000 77,000 55,652 43,848 Required-worth 7 marks: a) Based on the above information, give the total variable cost for each unit. b) Complete the profit formula for Lolly's Lollipops. c) How many units would Lolly have to sell to breakeven? d) If Lolly wanted to have a Margin of Safety of 25%, how many units would she need to sell? Below is a list for Lolly's Lollipops expenses for the first half of 2023. Lolly sells each unit for $16. Expenses Revenue Direct Mat Direct Lab Sales Wages Rent Office Wages Jan 410,608 86,591 41,061 23,000 Feb 238,752 60,813 23,875 23,000 77,000 77,000 102,652 59,688 Mar 278,688 66,803 Apr 189,872 53,481 27,869 18,987 23,000 23,000 77,000 69,672 77,000 47,468 May Jun 222,608 175,392 58,391 51,309 22,261 23,000 17,539 23,000 77,000 77,000 55,652 43,848 Required-worth 7 marks: a) Based on the above information, give the total variable cost for each unit. b) Complete the profit formula for Lolly's Lollipops. c) How many units would Lolly have to sell to breakeven? d) If Lolly wanted to have a Margin of Safety of 25%, how many units would she need to sell?
Expert Answer:
Answer rating: 100% (QA)
a To calculate the total variable cost per unit we need to sum up the direct material direct labor a... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Use the attached "words.txt" file to store the words along with their ranks in an AVL tree. Then provide the user the option to search for any word. If the word exists the program displays the rank...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Read the case study and answer the question below with a one page response. What does a SWOT analysis reveal about the overall attractiveness of Under Armours situation? Founded in 1996 by former...
-
Listed below are ages of actresses and actors at the times that they won Oscars. The data are paired according to the years that they won. Use a 0.05 significance level to test the claim that there...
-
When has your level of performance been directly affected by your motivation by your ability by the environment?
-
Explain the process of caculating daily gain/cost and closing margin account balance. and the proce of how to caculate Min Variance hedge Ratio and number of contracts, and how to get the answer of...
-
Two small, irregularly shaped conducting objects, one carrying charge \(+q\) and one carrying charge \(-q\), are placed on an \(x\) axis at \(x=-4.0 \mathrm{~m}\) and \(x=+4.0 \mathrm{~m}\),...
-
Madison owned a tract of land, but he was not sure that he had full title to the property. When Rafael expressed an interest in buying the land, Madison sold it to Rafael and executed a quitclaim...
-
6. The major components in "Gun Metal" are: (a) Cu, Ni and Fe (b) Al, Cu, Mg and Mn (c) Cu, Sn and Zn 7. 8. Which of the following ore is concentrated using group 1 cyanide salt (a) Calamine (b)...
-
Exhibit 13.6 presents selected hypothetical data from projected financial statements for Steak 'n Shake for Year +1 to Year +11. The amounts for Year +11 reflect a long-term growth assumption of 3%....
-
Jade is a stockholder in the Reley Corporation. She has voted in all of the board elections and received regular dividends from her stock. Recently, she has been asked to purchase a large amount of...
-
What statutory situations fall outside employment-at-will?
-
Some researchers argue that the idea of product differentiation is oversold in mature product markets. Review the debates online regarding differentiation and distinctiveness. What is your view?
-
General Housing Assistance was incorporated as a nonprofit organization that provides low-cost housing for families who have been economically dislocated because of the downsizing of a company or the...
-
Discuss the impact on other retail formats of the growth of online retailing.
-
Soon after the birth of their second child, misfortune fell on the lives of Kurt and Leah Lyons. Kurt got laid off, the landlord raised their rent, they received notice that their car was about to be...
-
5. Using the coding techniques described in this chapter,carefully read through the case study and determine the mostaccurate CPT code(s) and HCPCS code(s) andmodifier(s), if appropriate. Answer the...
-
Les has collected stamps in his spare time for years. He purchased many of his stamps at a price much lower than the current market value. Les recently lost his job as a carpenter. Since his wife...
-
Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care expenses during the year. If her adjusted gross income (all from wages) for the...
-
Leslie and Leon Lazo are married and file a joint return for 2012. Leslie's Social Security number is 466-47-3311 and Leon's is 467-74-4451. They live at 143 Snapdragon Drive, Reno, NV 82102. For...
-
Marty is a sales consultant. Marty incurs the following expenses related to entertainment of his clients in 2012: Dues to a country club......................................................$4,500...
-
Consider an asymmetric potential barrier, with Calculate the tunneling probability \(T\) for energy \(U_{1} U_{0}\). 0, x < 0 U(x) = U> U, 0 < x 0, x > L. (7.96)
-
The data in Table 1 represent the first exam score of 10 students enrolled in Introductory Statistics. Treat the 10 students as a population. (a) Compute the population mean. (b) Find a simple random...
-
The data in Table 2 represent the length (in seconds) of a random sample of songs released in the 1970s. Find the median length of the songs. Approach Follow the steps listed above. Table 2 Song Name...
Study smarter with the SolutionInn App