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Course: BA BA213, Spring 2010

School: Lane Community College

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E xercise 6-10: Break-Even Analysis (LO2, LO4, LO5) Chi Omega Sorority is planning i ts annual Riverboat Extravaganza. The E xtravaganza committee has assembled the following expected costs for t he event: D inner (per person) $ 7 Favors and program (per person) $ 3 Band $ 1,500 Tickets and advertising $ 700 Riverboat rental $ 4,800 Floorshow and strolling entertainers $ 1,000 The committee members would like...

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xercise E 6-10: Break-Even Analysis (LO2, LO4, LO5) Chi Omega Sorority is planning i ts annual Riverboat Extravaganza. The E xtravaganza committee has assembled the following expected costs for t he event: D inner (per person) $ 7 Favors and program (per person) $ 3 Band $ 1,500 Tickets and advertising $ 700 Riverboat rental $ 4,800 Floorshow and strolling entertainers $ 1,000 The committee members would like to charge $30 per person for the evenings activities. Requi rement 1: Compute the break-even point for the Extravaganza (in terms of the n umber of persons who must attend). Break-even point persons Requi rement 2: Assume that last year only 250 persons attended the Extravaganza. If the same number attend this year, what price per ticket must be charged to b reak even? ( Omit the "$" sign in your response.) Ticket price $ E xercise 6-13: Break-Even Analysis; Ta rget P rofit; Ma rgin of S afety; C M Ratio (LO1, LO3, LO5, LO6, LO7) Pringle Company distributes a single product. The company's sales and expenses for a recent month follow: Total Per Unit Sales $ 600,000 $ 40 Variable expenses 420,000 28 Contribution margin 180,000 $ 12 F ixed expenses 150,000 Net operating income $ 30,000 R equi rement 1: What is the monthly break-even point in units sold and in sales dollars? ( Omit the "$" sign in your response.) B reak-even point in units sold u nits Break-even point in sales dollars $ R equi rement 2: Without resorting to computations, what is the total contribution margin a t the break-even point? ( Omit the "$" sign in your response.) Contribution margin $ R equi rement 3: (a) How many units would have to be sold each month to earn a target profit of $18,000? Use the contribution margin method. Sales level in units units (b) Verify your answer by preparing a contribution format income statement a t the target sales level. ( Omit the "$" sign in your response.) Total Sales $ Variable expenses Contribution margin F ixed expenses Net operating income $ R equi rement 4: Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms. ( Round your answer Ma rgin of Safety P ercentage to 1 decimal place. Omit the "%" sign, which is p rovided for you. Omit the "$" sign in your response.) M argin of safety in dollars $ M argin of safety percentage % R equi rement 5: (a) What is the company's CM ratio? ( Omit the "%" sign, which is provided for you.) CM ratio % (b) If sales increase by $80,000 per month and there is no change in fixed expenses, by how much would you expect monthly net operating income to i ncrease? ( Omit the "$" sign in your response.) Net operating income $ Exercise 6-16: Operating Leverage (LO4, LO8) Superior Door Company sells prehung doors to home builders. The doors a re sold for $60 each. Variable costs are $42 per door, and fixed costs total $450,000 per year. The company is currently selling 30,000 doors per year. Requi rement 1: (a) P repare a contribution format income statement for the company at the p resent level of sales. ( Omit the "$" sign in your response.) Total Sales (30,000 doors) $ Variable expenses Contribution margin F ixed expenses Net operating income $ (b) Compute the degree of operating leverage. Operating leverage Requi rement 2: Management is confident that the company can sell 37,500 doors next year (an increase of 7,500 doors, or 25%, over current sales). ( a) Compute the expected percentage increase in net operating income for next year. ( Omit the "%" sign, which is provided for you.) Expected percentage increase % (b) T he expected total dollar net operating income for year. next (Do not p repare an income statement; use the degree of operating leverage to compute your answer.) ( Omit the "$" sign in your response.) Total expected net operating income $ Exercise 6-17: I n te rp retive Questions on the CVP Graph (LO2, L O5) A CVP graph, as illustrated below, is a useful technique for showing relationships among an organization's costs, volume, and profits. R equi rement 1: Identify the numbered components in the CVP graph. (1) (2) (3) (4) (5) (6) (7) (8) (9) R equi rement 2: State the effect of each of the following actions on line 3, line 9, and the b reak-even point. For line 3 and line 9, state whether the action will cause t he line to: Remain unchanged. Shift upward. Shift downward. Have a steeper slope (i.e., rotate upward). Have a f lat ter slope (i.e., rotate downward). Shift upward a nd have a steeper slope. Shift upward a nd have a f latter slope. Shift downward a nd have a steeper slope. Shift downward a nd have a f lat ter slope. I n the case of the break-even point, state whether the action will cause the b reak-even point to: Remain unchanged. Increase. Decrease. Probably change, but the direction is uncertain. Treat each case independently. x. Example. F ixed costs are reduced by $20,000 per period. A nswer (see choices above): L ine 3: Shift upward. L ine 9: Remain unchanged. B reak-even point: Increase. a. The unit selling price is decreased from $30 to $27. L ine 3: L ine 9: B reak-even point: b. Unit variable costs are increased from $12 to $15. L ine 3: L ine 9: B reak-even point: c. The total fixed costs are reduced by $40,000. L ine 3: L ine 9: B reak-even point: d. Five thousand fewer units are sold during the period than were budgeted. L ine 3: L ine 9: B reak-even point: e. Due to automating a task that was previously done by workers, fixed costs a re increased by $25,000 per period, and variable costs are reduced by $8 per unit. L ine 3: L ine 9: B reak-even point: f. Due to a decrease in the cost of materials, both uni t variable costs and the selling price are decreased by $3. L ine 3: L ine 9: B reak-even point: g. Advertising costs are increased by $50,000 per period, resulting in a 10% i ncrease in the number of units sold. L ine 3: L ine 9: B reak-even point: h. Due to paying salespersons a commission rather than a f lat salary, fixed costs are reduced by $21,000 per period, and unit variable costs are i ncreased by $6. L ine 3: L ine 9: B reak-even point: P roblem 6-18A: M issing Data; Basic CVP Concepts (LO1, LO9) Fill in the missing amounts in each of the eight case situations below. E ach case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing i tems.) Requi red: a. Assume that only one product is being sold in each of the four following case situations: ( Omit the "$" sign in your response) Case Units Sold Sales Variable Expenses Contribution Margin per Unit Fixed Expenses Net Operating Income (Loss) 1 12,000 $ 360,000 $ 144,000 $ $ 190,000 $ 2 $ 50,000 $ $ 6 $ 25,000 $ 5,000 3 2,000 $ $ 16,000 $ 12 $ $ (6,000) 4 7,000 $ 280,000 $ $ $ 120,000 $ 34,000 b. Assume that more than one product is being sold in each of the four following case situations: ( Omit the "%" sign, which is provided for you. Omit the "$" sign in your response) Case Sales Variable Expenses Average Contribution Margin (Percent) Fixed Expenses Net Operating Income (Loss) 1 $ 100,000 $ 40 % $ $ (2,000) 2 $ 300,000 $ 165,000 % $ 85,000 $ 3 $ $ 15 % $ 20,000 $ 10,000 4 $ 460,000 $ 138,000 % $ $ 62,000

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Lane Community College - BA - BA213
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UNLV - FIN - FINANCE 30
t / I s (elS) - "-sL s lYa^ A , ^ S C * l e) = h Ass,r*^i^h;,o S ^( S l ) = '/1 ( r/Q ; s^ b id.,*asle Pre A' Ass,^v*,nirn6 ' /r^(Els)F o R t v r u L A S ' l - l g Ts A*r*u* \ ^,b .d-,r'-lvood,= sC$lt>x s C14) sC l E.,sb($l"e I = s (s| * ) l ( | E ) =
UNLV - FIN - FINANCE 30
UNLV - FIN - FINANCE 30
Globalization 1. Increasing trend of international trade of goods and services and international capital flows. 2. This has been facilitated by lowering trade barriers across countries through organizations such as the WTO. International trade has also be
UNLV - FIN - FINANCE 30
Corporate Governance Agency problem: Conflict of interest between shareholders and managers arising from the separation of ownership and control. This is a feature of publicly owned corporations where share ownership is dispersed among a large number of s
UNLV - FIN - FINANCE 30
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UNLV - FIN - FINANCE 30
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UNLV - FIN - FINANCE 30
Mid Term Review The mid term exam will be conducted during regular class time on October 14th, 2009 (Wednesday). The test will be out of 40 points and accounts for 40% of your grade. The test will be predominantly multiple choice questions comprising a mi
UNLV - FIN - FINANCE 30
Stock A E (Return) Std. Dev correlation 10 20 -0.8Stock B Wa 25 30 1 0.98 0.96 0.94 0.92 0.9 0.88 0.86 0.84 0.82 0.8 0.78 0.76 0.74 0.72 0.7 0.68 0.66 0.64 0.62 0.6 0.58 0.56 0.54 0.52 0.5 0.48 0.46 0.44 0.42 0.4 0.38 0.36 0.34 0.32 0.3 0.28 0.26 0.24 0.
UNLV - FIN - FINANCE 30
CHAPTER 4 CORPORATE GOVERNANCE AROUND THE WORLD SUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS Questions 1. The majority of major corporations are franchised as public corporations. Discuss the key strength and weakness of the pu
UNLV - FIN - FINANCE 30
CHAPTER 5 THE MARKET FOR FOREIGN EXCHANGE SUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS QUESTIONS 1. Give a full definition of the market for foreign exchange. Answer: Broadly defined, the foreign exchange (FX) market encompasse
UNLV - FIN - FINANCE 30
CHAPTER 6 INTERNATIONAL PARITY RELATIONSHIPS SUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS Questions 1. Give a full definition of arbitrage. Answer: Arbitrage can be defined as the act of simultaneously buying and selling the sa
UNLV - FIN - FINANCE 30
CHAPTER 8 MANAGEMENT OF TRANSACTION EXPOSURE SUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS QUESTIONS 1. How would you define transaction exposure? How is it different from economic exposure? Answer: Transaction exposure is the s
UNLV - FIN - FINANCE 30
CHAPTER 12 INTERNATIONAL BOND MARKETS SUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS QUESTIONS 1. Describe the differences between foreign bonds and Eurobonds. Also discuss why Eurobonds make up the lions share of the internation
UNLV - FIN - FINANCE 30
CHAPTER 13 INTERNATIONAL EQUITY MARKETS SUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS QUESTIONS 1. Exhibit 13.11 presents a listing of major national stock market indexes as displayed daily in the print edition of the Financial