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Week 3_Mastery_test_3.1[2] - Cost-Volume—Profit Analysis...

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Unformatted text preview: Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 aroma 5:, 5-3, a a; 9:, You are provided with a simple income statement for May for Chuck's Tricycles, Inc. Calculate the company's contribution margin ratio and enter it in the box at right. C huck'sTriqmles, Inc Income Statement 31-May-0i’ Revenue 5 750,000 Costs: Production workers wages Factory Depreciation and M.- Metal, ru bber, etc. Electricity, water for factor“ Calculate Contribution Margin prod uction volu me} Equipment Depreciation and Revenue Less Metal, rubbers, etc Net. Income Less Production wages Less Elecm'oity, water for factory Total Contribution Margin Explanation of Correct Answer Step 2 Calcuia'te Contribution margin ratio Question 1 5 points Contribution margin ratio = 0.52 Express your answer as a decimal and round your final answerto two decimaJ places. Cor-mi bution Marg'n a Close Mastery Test tota pornts possrble: 45 anati on ® Show the correct answer Done | . ln‘temet | Protected Mode on |Qv|a1wae Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 a Close 5'3, E; rid, lair I43, 5:, 7:, a; 9:, You are provided with a simple income statement for May for Chuck's Tncycles, Inc. Calculate the company's contnbuljon margin raljo and enter it in the box at right C huck'sTricycles, Inc Income Statement 31-May-0? Revenue 5 750,000 Costs: Production workers wages Factory Depreciation and M.- Metal, ru bber, etc. Explanation of Correct Answer Less Metal, rubbers, etc Electricity, water for factor“ Less Production wages prod uction volume} Less Electricity, waterfor factory Equipment Depreciation and otai Contribution Margin Net Income Step 2 Calculate Contribution magin ratio Question 1 5 points / Contribution margin ralJ'o = 0.52 Express your answer as a decimal and round your final answerto two decimal places. Contribution Margjn Revenue % 000 $750,000 Mastery Test tota pornts possrble: 45 anation ® Show the correct answer Done | . lntemet | Protected Mode on |Qv|a1wae Cost-Volume—Profit Analysis _ - Submitted: Sun Jul 24 21:11 Question 2 5 points You are provided wi. Explanation oi Correct Answer Cars, Inc. Calculat enter it in the box at com W10" M3'95”: Revenue — Variable Costs Revenue 5 4450,09” Less Metal, rubber, etc 1,300,000 Less Prmmctjm workers wages 467,000 Total Cmtfibutiar: Margin 2,883,000 Revenue C nets: Production worker Factory Depreciafi- Metal, rubber, else. Electricly, water f0 idutrry war-ran;- lur‘rmmrrn J 44mm Equ'prnent Depreciation and Maintenance 5: 600,000 Netlncorne £1 133 000 O Show my answer _ a Close Mastery Test total points possible: 45 ® Show the correct answer Explanallan Done loln‘lemEHPm‘lededMn-dzOn HE v| aloe-3r. v Cost-Volume—Profit Analysis _ - Submitted: Sun Jul 24 21:11 Question 3 5 points You are provided wi. Explanation of Correct Answer Calculate the comp Round your answer Step1 Calwiate Comm butiun Margin Revenue 3,000,000 Less Metal, rubbers, etc 295,000 Less Production wages 500,000 arm and run In! Less Electricity, 1||late1r for factory 195,W0 3. Total Contribution Margin 2,010,000 Production worker Step 2 Fadory Dapreciafi Calculate Contribution margin «also Metal, rubber, etc. = cmmbufim Margjn Electncty, water fa , production volume] 35 195,000 Equipment Depreciath and Maintenance 5 116,000 Netlncarne 5'1 590 000 Efl Cost Volume ProfitAnalysis MT0302.xls .4 O Show my answer _ a Close Mastery Test total points possible: 45 ® Show the correct answer Explanatlan Done loln‘temEHPro‘tededMn-dzfln HE v| aloe-3c. v Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 Calculate the comp ~ mm"... Roundyour answer Less Metal, rubbers, etc Less Prtxhiction wages Less Electricity, water for factory Total Conuibution Margin Step 2 Revenue Calculate Contribution margin fafio Costs: Production worker Fadory Depreciafi Metal, rubber, etc. Electncty, water fa production volume] Equipment Depreciation and Maintenance : Net Income Efl Cost Volume ProfitAnalysis MT0302.xls .4 a Close Mastery Test total points possible: 45 Don: / 295,000 500,000 195,000 2,010,000 Contribution Margin Revenue E 010 000 53,000,000 = 0.6? $ 195,000 5 1r5,000 £1,590,000 Question 3 5 points arm and run nd 3. O 5"“ m” "3“” - Explanation ® Show the correct answer |Qv| £10090 v | . ln‘lemet |Prn1eded Mode on Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 / You are provided wi. Explanation oi Correct Answer Sundresses, Inc. C the box at right. 51°F 1 Caicuiate Conuibutjm margin pear unit = Saies price pear unit — Variable Costs pe-r unit SW'5 ”500““ = $29 — (53.50 +6.50 + 7.50 + 2.50) Direct materials = 54 Direct labor VaIiable {1th 51°F 2 . _ . Fixed Overhead Cdcuiate Breakeuen pen-mt 1:: “mt; = Faxed Casts Vanable selling anit Fixedgmeml an: = (517,000 +14 000! Question 4 5 points 6,900 29.00 per unit flfl Cost‘u'olume ProfitAnalvsis MT0402.xls an. OW 05! ® Show the correct answer Mastery Test total points possible: Done | . lniemet |Prn1ecled Mode on |Qv|a1wae v Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 Question 4 5 points / You are provided wi. Explanation oi Correct Answer Sundresses, Inc. C mum-m. ammwu... .. the box at right. Susie's Disoomt Direct material 5 Direct labor VaIiable overh- Fixed overhead Valiable selling Fixed general an a 5112p 2 Caicuiate Breakaway! point in units = Sales price per unit — Variabie Costs per unit = $29 — ($8.59 +6.50 + 150 + 2.50) = $4 = Faxed Costs Conm‘ minor: margin per unit = (E11000 +14 0‘00! 54 = 7,750 units 6,900 flfl Cost‘u'olume ProfitAnalvsis MT0402.}(IS a Close Mastery Test total points possible: 45 29.00 per unit O Show my answer ® Show the correct answer Done loln‘lemEHPro‘lededMn-dzfln |Qv|a1wae v Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 Question 5 5 points / Calculate the corn . D Step1 Cfas Claim C Direct matmials Direct labor Variable ovethe Fixai overh-d 519" 2 Variable selling Fixed gmal am You are provided wi. Explanation oi Correct Answer Calculate Conuibutjm margin pear unit Cdcuiate Canbibutj'un margin peicentage = Sales pn'ce pear unit — Variable Costs per unit = $32 — (59.50 +5.00 + 7.50 + 2.00)] = $8 = Contrilntim Marga Sale mice 3 $32 a Close Done Mastery Test total points possible: 45 mu 32.00 per unit O Show my answer ® Show the correct answer .ln‘lemEHPrn‘lededMn-dzOn HE v| aloe-3c. v Cost-Volume—Profit Analysis _ = - SumeHe-ci: Sun Jul 2421111 Question 5 5 points Calculate the comp Cfas Claim C Direct materials Direct labor Variable ovethe Calculate Bh'eakeven paint in sales dailars Fixed overhud =w Variable selling Cmtnbubm magi: percentage Fixed general an = fl+fir10mflunfis 0.25 = $320,000 mu 32.00 per unit O Show my answer _ a Close Mastery Test total points possible: 45 ® Show the correct answer Explanallan Done .ln‘lemEHPm‘lededMn-dzfln HE v| aloe-3c. v Cost-Volume-Profit Analysis _ - SumeHe-d: Sun Jul 24 21:11 Question 6 5 points You are provided wi. Explanation of Correct Answer company has atarg needstoselltorea Step1 Calculate Contfibutjun margin pear unit = Saies pace pear unit — Variable Costs per unit FWFngd' =5350-(5125+24+19+22J Direct materials = 5150 Direct labor Step 2 Variable DVfihB Caiwiate CV? in uflits Fixed overhead Valiable sell ing Fixed general .-I = {12T+231* 5 900 units! + $30 000 Units produced 5150 Utitsinbeginnia_ il‘Wla‘i:||t u - Units solé 4,500 Selling price $ 350 per unit Target Profit 3; 350,000 per month ixed costs + Tar ofit CMMb-ufion margn per um! Iii—£1 CostVolume Profitfinalvsis MTGfiQZXIS O Show my answer _ a Close Mastery Test total points possible: 45 ® Show the correct answer Explanatlan Done loln‘lemEHPro‘lededMn-dzfln HE v| aloe-3c. v Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 Question 6 5 points / ___l_ . company has a targ needs tosellto reau Funky Fur Fed:- Direct materials Step 2 Direct labor Valiabl e overlie Fixed 00' erh ead Valiable selling Fixed general ..| Units produced You are provided wi. Explanation of Correct Answer Caiculate Cuflmbutz'm margin pelr unit = Saies ptice pear unit — Variable Costs pef unit =5350—{5125+24+19+22) = $160 axed casts + Ta? afit Contibufion margin pe; unit = iiZT+231 “' 5.000 units1+ @900 5160 = 3,750 units Utitsinbeginm'_ n \ m a ;... Units solé Selling price $ Target Profit 10' lit—£1 CostVolume Profitfinalvsis MTGfiQZxIs a Close Mastery Test total points possible: 45 0 4,500 3 50 per unit 3 50,000 per month O Show my answer ® Show the correct answer Done | . lntemet | Pmtected Mode on |Qv|a10055 v Cost-Volume—Profit Analysis _ - Submlt‘te-ci: Sun Jul 24 21111 W: liir lair I43 ' / 93mg? company has a targ needstoselltoreau Step1 _ _ _ _ Catcuiate Conmbutnm mgr! pear unit = Saies pn'ce pear unit — Variable Costs per unit =$1,500—($60+190+1T+33) = $1,200 twget profit ‘_ Catcuiate Cot-animation mgr: pmcentage Fixaiovaheai _ m—W“: " Variable selling w Fix ed g annual m 51,500 Units ptochced Units in begi nning fini shed goods Units sold Selling price $ 1,500 per unit Target Profit $ 500,000 per month fiz‘fl Cost Volume ProfitAnalvsis I'u'ITufll‘I .xls O Show my answer _ a Close Mastery Test total points possible: 45 ® Show the correct answer Explanation Done .ln‘temEHPm‘tededModzOn HE v| aloe-3c. v Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 l'i: liir lair I43! company has a targ needs tosellto reau Artist: A In; . - Direct materials Step 3 Direct labor Caicuiate CV? in sates dudiars Vatiabl e overlie Fix ed overheai Variable selling Fix ed g annual :u Units prochced ixed costs + Tar Continuljon margn per unit 8 +12 "‘ 500 units + $631,500 Question 7 5 points / target profit ofit 000 0.80 Units in begi nning fini shed goods Units sold Selling price $ Tar}; at Profit $ fiz‘fl Cost Volume ProfitAnalvsis I'u'ITufll‘I .xls a Close Mastery Test total points possible: 45 1,500 per unit 500,000 permunth O Show my answer ® Show the correct answer Done .lntemEHPrntectedMDdzOn HE v| aloe-3c. v Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 l1} liir lair I43! You are provided wi. Explanation oi Correct Answer Calculate the comp udiuuuflu LUIILIIUULIUII rriaiyiri pur uiiiL Sensational Sundr Direct materials Ell-9|)2 / = Sales price per unit — Variable Costs per unit = $185 —{$50+ 15 +4 +4} — $112 Direct labor Calculate Breakeuen point in units Variable overhead Fixed overhead Variable selling Fixed general and Units produced Units in beginning Units sold Fixed Costs Contribution margin per unit {$13 + $1511*12 000 units} 3,000 units $112 Question 8 5 points Selling price fi—fl Cost Volume ProfitAnalvsis MTOBQZ.xls a Close Mastery Test total points possible: 45 IEETIII per unit O 5"“ m” "3“” - Explanation ® Show the correct answer Done | . ln‘temet | Pmeded Mode on |Qv|a1we v Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 a Close l'i: liir lair I43! You are provided wi. Explanation oi Correct Answer Calculate the come 316;} L Calculate Breakeuen point in units Sensational Sundr Direct materials Direct labor Variable overhead Fixed overhead Variable selling Fixed general and Calculate Margin ofSafety Units produced Units in beginning Units sold Question 8 5 points / Fixed Costs Contribution margin per unit {Q13 + $151]*12 000 units! $112 = 3,000 units = {11,000 units sold in November — 3,000 units at meal-(even = $1,480,000 Selling price fi—fl Cost Volume ProfitAnalvsis MTOBQZ.xls Mastery Test total points possible: 45 IEETIII per unit O Show my answer ® Show the correct answer Done loln‘temEHPm‘tededMo-dzOn |Qv|a1wae v Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 l'i: liir lair I43! You are provided wi. Explanation of Correct Answer Calculate the comp Roundto 2 decimal Vaiable Costing income Statement: Sales (510 units x $500] Less Vaiable costs (510 units x $200) Conbi bution Marge Less Fixed Costs ($67,000 + $50,000) Net Operating income Fanc Furniture In Direct materials Direct Iabbr Variable uverheacl Variable selling Fixed nverheacl Fixecl general and Units prnducecl Units in beginning Units snlcl 1reliable Costs = Dired mat Question 9 5 points / eriais + {fired labor +Vaziatile0verhead +Varia Selling price tiLILI per unit Iflfl Cost Volume ProfitAnalvsis MTOQO‘l .xls Mastery Test total points possible: 45 a Close O Show my answer ® Show the correct answer Done |Qv|a1wae v | . ln‘temet | Protected Mode on Cost-Volume—Profit Analysis - Submitted: Sun Jul 24 21111 l'i: liir lair I43! You are provided wi. Explanation at Correct Answer Calculate the some variable Costs Round to 2 decimal Fani: Furniture In Direct materials Direct labor Variable overhead Variable selling Fixed nverhead Fixed general and Units produced Units in beginning Units sold Degree of operating leverage Question 9 5 points / = {Direct materials +Diredlabor +VariableOirerhead +Van'a =$130+ $30+ $20+$20 =$200 Conuilmtion marg'n Net operating Income 153000 $35,000 = 4.25 Selling price Iflfl Cost Volume ProfitAnalvsis MTOQO‘l .xls Mastery Test total points possible: 45 a Close tiLILI per UI’1II O Show my answer ® Show the correct answer Done |Qv|a1wae v | . ln‘temet |Pro1ecled Mode on ...
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