For Markowis Company, variable costs are 70% of sales, and fixed costs are $210,000. Managements net income
Question:
For Markowis Company, variable costs are 70% of sales, and fixed costs are $210,000. Management’s net income goal is $60,000. Compute the required sales needed to achieve management’s target net income of $60,000. (Use the mathematical equation approach.)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (17 reviews)
X 70X 210000 60000 30X 270000 X ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
Fixed manufacturing costs are $ 70 per unit, and variable manufacturing costs are $ 132 per unit. Production was 384,000 units, while sales were 345,600 units. Determine (a) Whether variable costing...
-
Management is considering preparing a break-even analysis. It's fixed costs are $100,000 and variable costs per unit are $10.00. They are considering production levels of 50,000 units and 100,000...
-
Compute trend percentages for net sales and net income for the following five-year period, using year 1 as the base year: Requirement Which grew faster during the period, net sales or net income? R....
-
Write a C++ program with recursion to print the following pattern for any odd number greater than or equal to 5. Note: the last row must be filled with digits from your ID in case the pattern is...
-
Cirrus Ltd. purchased a new machine on April 4, 2014, at a cost of $172,000. The company estimated that the machine would have a residual value of $16,000. The machine is expected to be used for...
-
totto works as a salesperson at TinMan Office Supply, an office supply store owned and operated by Dorothy. Dorothy gave Totto a company credit card with Totto name on it, in order for Totto to be...
-
Derive the solutions for transient concentration profiles in the two-bulb apparatus (Example 21.5 in the text) for the binary case, and show that the multicomponent case can be derived as an...
-
On January 1, 2013, Lacey Tree toppers borrowed $300,000, which is to be paid back in annual installments of $20,000 on December 30 of each year. a. Assuming that Lacey has met all payments on a...
-
The second capital budgeting decision which you were asked to analyze involves choosing between two mutually exclusive projects, S and L, whose cash flows are set forth below: Year 012345 Expected...
-
Ellipses Corp is a small business that operates in Herndon, VA. The company is located at10 Period Lane, Herndon, VA 20170. Its federal Employer Identification Number is 77-7777777, and its...
-
Hamby Company has a unit selling price of $400, variable costs per unit of $260, and fixed costs of $210,000. Compute the break-even point in units using (a) The mathematical equation and (b)...
-
For Briggs Company actual sales are $1,200,000 and break-even sales are $900,000. Compute (a) The margin of safety in dollars and (b) The margin of safety ratio.
-
A related rates problem is used when we know the rate of change of one or more quantities, and we want to find the rate of change of another quantity. Determine whether each statement is true or...
-
How are corporate social responsibility and ethics similar? How do they differ?
-
Why is face-to-face communication generally preferable when sending messages?
-
Cross-cultural research on motivation is very nuanced and addresses many variables. What does it mean when a culture is described as tight? What is a loose culture?
-
How does culture influence an organizations information system?
-
Why is cultural appropriateness an issue in technology transfer? Provide examples and challenges that may arise.
-
Which of the following best describes an exclusive gateway? a. The only gateway in a BPMN diagram. b. A gateway that does not connect to message flows. c. A gateway with only one exit path per...
-
Which task is performed by a book-keeper? A. Analysing the trading results B. Entering transactions in the ledger C. Preparing year-end financial statements D. Providing information for...
-
A single-phase, 100-kVA, 480/120-V step-down transformer powers a load impedance of 8 on the LV side. Determine (1) The current on the HV side from conventional transformer calculations and (2) The...
-
Wade Company is doing significant work to revitalize its warehouses. It is not sure whether it should capitalize these costs or expense them. What are the implications for current-year net income and...
-
What classifications and amounts are shown in PepsiCos Note 4 to explain its total property, plant, and equipment (net) of $12,671 million? Discuss.
-
String Dance Company purchased land and a building on January 1, 2012. Managements best estimate of the value of the land was $100,000 and of the building $200,000. But management told the accounting...
-
How does culture relate to political and security issues in the world? Please provide specific examples. 2 What are the most significant contemporary security issues in the world? How does culture...
-
Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost Date January 1 Activities Beginning inventory January 3 Sales February 14 February 15...
-
A cylindrical log is cut as shown to form a park bench. Find: a. The area of triangle OAB in m. [2] b. The volume of the log in m. [3] B 70% 40 cm 3m
Study smarter with the SolutionInn App