Hudson Company reports the lowing contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Hudson Company reports the lowing contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (9,700 units at $280 each) Variable costs (9,700 units at $210 each) Contribution margin Fixed costs $ 2,716,000 2,037,000 679,000 441,000 $ 238,000 Income 1. Assume Hudson has a target income of $163,000. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target income, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.) 1. Amount of sales 2. Margin of safety Hudson Company reports the lowing contribution margin income statement. HUDSON COMPANY Contribution Margin Income Statement For Year Ended December 31 Sales (9,700 units at $280 each) Variable costs (9,700 units at $210 each) Contribution margin Fixed costs $ 2,716,000 2,037,000 679,000 441,000 $ 238,000 Income 1. Assume Hudson has a target income of $163,000. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target income, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.) 1. Amount of sales 2. Margin of safety
Expert Answer:
Related Book For
Posted Date:
Students also viewed these accounting questions
-
What mass of NaHCO3 is needed to produce 2.659 mol of CO2? 2NaHCO3(s) ( Na2CO3(s) + H2O() + CO2(g)
-
What mass of 3.00% H2O2 is needed to produce 66.3 g of O2(g)? 2H2O2(aq) ( 2H2O() + O2(g)
-
What mass of 3.00% H2O2 solution is needed to produce 35.7 g of O2(g) at 295 K at 1.05 atm pressure? 2H2O2(aq) ( 2H2O() + O2(g)
-
The Sooner Equipment Company has total assets of $100 million. Of this total, $40 million was financed with common equity and $60 million with debt (both long- and short-term). Its average accounts...
-
Newcastle Mining Company (NMC) mines coal, puts it through a one-step crushing process, and loads the bulk raw coal onto river barges for shipment to customers. NMCs management is currently...
-
What authoritative bodies and sources require that the auditor make communications?
-
Which of the following expenses are not added back to net income when using the indirect method to prepare a statement of cash flows? a. Amortization expense b. Depletion expense c. Interest expense...
-
Revenue and expense data for the current calendar year for Garrity Electronics Company and for the electronics industry are as follows. The Garrity Electronics Company data are expressed in dollars....
-
Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead costs for March WATERWAYS CORPORATION Manufacturing Overhead Budget (Static)...
-
On 31 December 20X3, the trial balance of Joytoys showed the following chart of accounts and balances: Additional information 1 The inventory at 31 December 20X3 was valued at £19,500. 2 The...
-
Identify the problem in the following sentence: a. The newspaper seeks to drastically improve its online edition. b. The sentence is not parallel c. The sentence has a split infinitive. d. The...
-
Two roommates, Eric and Noah, decide independently of each other how much time to spend cleaning the common area of the aparment they share. Specifically, Eric chooses hE 20 (hours per week), while...
-
The lecture described how taxing income may change savings behavior. Suppose instead that the government taxed consumption. D To be specific, suppose we have a two-period model. An individual earns...
-
Critically review, analyze, and evaluate the concepts and practices given Human Resource Development perspective: Topic: Pakistan National Human Development Report 2017, (Unleashing the potential of...
-
The Process Control Block(PCB) stores information that is associated with each process. Describe all these information stored in PCB.
-
Herron Company operates its business solely in Jurisdiction H, which levies a 5.0% sales and use tax. This year, Herron paid $1,270,000 to purchase tangible property from a dealer located in...
-
0.5 72-m Problem 2. Buff Orpington hens lay an average of 180 eggs a year or 15 eggs each month. Their mortality follows m = where 0 m 72 in months. 100 Buff Orpington hens have survived to age 12...
-
Find the market equilibrium point for the following demand and supply functions. Demand: 2p = - q + 56 Supply: 3p - q = 34
-
MacLean Mining Co. acquired mineral rights for $72,000,000. The mineral deposit is estimated at 120,000,000 tons. During the current year, 44,000,000 tons were mined and sold. a. Determine the amount...
-
CVS Caremark Corp. (CVS) 5.3% bonds due in 2043, sold for 113.04. Were the bonds selling at a premium or at a discount? Explain.
-
Capstone Consulting Services acquired land 5 years ago for $200,000. Millstone recently signed an agreement to sell the land for $375,000. In accordance with the sales agreement, the buyer...
-
A distillation column operating at total reflux is separating acetone and ethanol at \(1.0 \mathrm{~atm}\). The height of packing is \(2.0 \mathrm{~m}\). The column has a partial reboiler and a total...
-
We wish to strip \(\mathrm{SO}_{2}\) from water using pure air at \(20.0^{\circ} \mathrm{C}\). Outlet water contains \(0.0060 \mathrm{~mol} \% \mathrm{SO}_{2}\), and inlet water contains \(0.112...
-
If 1-in. metal Raschig rings are used instead of 2-in. rings in Example \(16-2\) : Example 16-2 Example 4-3 Example 16-1 a. Recalculate the flooding velocity and the required diameter. b. Recalculate...
Study smarter with the SolutionInn App