The Raven Company has a goal of earning a pre-tax income of $71,300. The contribution margin ratio

Fantastic news! We've Found the answer you've been seeking!

Question:

The Raven Company has a goal of earning a pre-tax income of $71,300. The contribution margin ratio is 32%. What dollar amount of sales must be achieved to reach the goal if fixed costs are $38,600?

Related Book For answer-question

Applied Statistics In Business And Economics

ISBN: 9780073521480

4th Edition

Authors: David Doane, Lori Seward

See More Books

Posted Date: Apr 19, 2023 02:33 AM

See More Questions

Multiple Choice Questions 1. Ginger Company's product has a contribution margin per unit of $11.25 and a contribution margin ratio of 22.5%. What is the selling price of the product? A. $5. B. $20....
If revenue from a sale was $4,800 and variable costs were $2,304, what is the variable cost percentage? (1 points) E8.1 A restaurant has sales revenue of $240,000, fixed costs of $100,800, and...
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data,...
A firm has four service centers, S1, S2, S3, and S4, which provide services to each other, as well as to three operating divisions, A, B, and C. The distribution of each service centers output as...
Take another look at investment opportunity (d) in Practice Question 7. Suppose a bank offers Norman a $600,000 personal loan at 8 percent. (Norman is a long-time customer of the bank and has an...
Does size matter? Warehouse clubs such as Costco, BJs, and Sams Club employ a strategy that includes large product sizes with low per unit costs. Suppose a supplier, such as Clorox, decides to sell...
The following sale related transactions for Beautiful Decor, Inc., occurred during the month of April. Requirement 1. Journalize the transactions for Beautiful Decor, Inc. Omit explanations. Apr 3...
Tomkung Corporations income statements are presented in the following spreadsheet. Required Construct a spreadsheet to conduct horizontal analysis of the income statements for 2015 and2014. 2015 2014...
Success Company received its 31 December 2023 bank statement which showed a balance of $22,041. At 31 December 2023, Success Company's Cash account balance was $29,950. The Finance Manager collected...
Fitz Products Inc. reported $1,075,049 profit in 2023 and declared preferred dividends of $75,100. The following changes in common shares outstanding occurred during the year. Jan. 1 78,000 common...
Presented here is selected information for Nike, Inc. (in U.S. $ millions) and Adidas AG (in euro millions): Nike Adidas Sales $39,397 21,915 Allowance for doubtful accounts, beginning of year 19 174...
3. The market share of Seattle Mills is $407 million. The claims on Seattle Mills are split between common stock and a 12% debt that has a face value of $350 million and that matures in five months....
An aircraft model is to be used to analyse the aerodynamics of a full size aircraft by immersing it in a flow of air in a variable density wind tunnel. The full size aircraft has a wing chord of 3.2...
Zama CC acquired Machine A ( a second - hand machine ) for R 2 0 0 0 0 0 0 and brought it into use in its manufacturing process on 1 0 January 2 0 1 7 . Zama CC acquired a new manufacturing machine B...
The waterfall methodology (a), which includes CPM and PERT, and (b) agile project management are two well-known project management methodologies. What are the differences between the two methods, and...
Question a) Why is the management of project stakeholder relationships one of the top priorities for a modern project manager? Give THREE (3) reasons. (6 marks.) Describe ONE (1) tool for stakeholder...
Write a function that receives a single list of two-element tuples when called. The function should calculate the sum of the two elements in each tuple in the list and build a list of the sums named...
Fill in each blank so that the resulting statement is true. A solution to a system of linear equations in two variables is an ordered pair that__________ .
In September, demand for industrial furnace boilers at a large plumbing supply warehouse has a mean of 7 boilers with a standard deviation of 2 boilers. The warehouse pays a unit cost of $2,225 per...
Several friends go bowling several times per month. They keep track of their scores over several months. An ANOVA was performed. (a) What kind of ANOVA is this (one-factor, two-factor, etc.)? (b) How...
The length of a certain kind of Colorado brook trout is normally distributed with a mean of 12.5 inches and a standard deviation of 1.2 inches. What minimum size limit should the Department of...
Showbiz Sportswear completed the following selected transactions during 2008 and 2009: Requirements 1. Open general ledger accounts for Allowance for Uncollectible Accounts and Uncollectible-Account...
On February 28, Tradewinds Sailing Supplies had a $\$ 75,000$ debit balance in Accounts Receivable and a $\$ 2,200$ credit balance in Allowance for Uncollectible Accounts. During March,...
At September 30, the accounts of Aguilar Outsourcing Solutions include the following: During the last quarter of 2009, Aguilar completed the following selected transactions: Requirements 1. Record...

The Raven Company has a goal of earning a pre-tax income of $71,300. The contribution margin ratio

Question:

Expert Answer:

The contribution margin is the percentage of sales that is available to cover fixed costs a... View the full answer

Applied Statistics In Business And Economics

Students also viewed these accounting questions