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Questions and Answers

(1071 solutions)

The contribution margin income statement of Top of the Crop Coffee for January follows

Top of the Crop Coffee
Contribution Margin Income Statement
Month Ended January 31
Sales revenue
$144,000
Less variable expenses:
 
 
Cost of goods sold
$62,500
 
Marketing expense
7,000
 
General and administrative expense
2,500
72,000
Contribution margin
 
$72,000
Less fixed expenses:
 
 
Marketing expense
$35,700
 
General and administrative expense
6,300
42,000
Operating income
 
$30,000
Requirements





Requirement 1. Determine the coffee​ shop's monthly breakeven point in the numbers of small coffees and large coffees. Prove your answer by preparing a summary contribution margin income statement at the breakeven level of sales. Show only two categories of​ expenses: variable and fixed.Be...

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Question content area top

Part 1
Drives minus n minus More
Manufacturing manufactures 256GB SD cards (memory cards for mobile phones, digital cameras, and other devices). Price and cost data for a relevant range extending to 200,000 units per month are as follows:
Sales price per unit
(current monthly sales volume is 120,000 units). . . .
$20.00
Variable costs per unit:
 
Direct materials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$7.40
Direct labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$5.00
Variable manufacturing overhead. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$2.20
Variable selling and administrative expenses. . . . . . . . . . . . . . . . . . . . . . . .
$1.40
Monthly fixed expenses:
 
Fixed manufacturing overhead. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$191,400
Fixed selling and administrative expenses. . . . . . . . . . . . . . . . . . . . . . . . . . .
$276,600

Requirement 1. What is the​ company's contribution margin per​ unit? Contribution margin​ percentage? Total contribution​ margin?Begin by identifying the formula.  Sales price per unit–Variable cost per unit=Contribution margin per unit Part 2The contribution margin per...

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Requirement 1. Which lease option is more attractive for the company under its current sales​ expectations? Calculate the total lease cost under Option A and Option B.Begin by identifying the formula to calculate the total costs. Total fixed expenses (lease)+Total variable expenses (lease)...

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First identify the formula to compute the sales in units at various levels of operating income using the contribution margin approach. ​(Abbreviations used: Avg.​ = average, and CM​ = contribution​ margin.)(Fixed expenses+Operating income) ÷Weighed-avg. CM per unit=Breakeven sales in ...

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Begin by identifying the general formula to compute the breakeven sales in units.(Fixed expenses+Operating income) ÷Contribution margin per unit=Breakeven sales in units15...

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Before franchising her happy noodles restaurant concept, owner Sung Chi had made the following assumptions

Chi
believed people would pay
$ 5.00
for a large bowl of noodles. Variable costs would be
$ 2.00

a bowl creating a contribution margin of $ 3.00 per bowl. Sung Chi estimated monthly fixed costs for franchisees at $ 8 comma 400. 


Franchisees wanted a minimum monthly operating income of
$ 6 comma 000.

Chi did franchise her restaurant concept. Because of Happy Noodles's success. Noodles - n - More has come on the scene as a competitor. To maintain its market share, Happy Noodles will have to lower its sales price to $4.50 per bowl. At the same time, Happy Noodles hopes to increase each restaurant's volume to 8,000 bowls per month by embarking on a marketing campaign. Each franchise will have to contribute $500 per month to cover the advertising costs. Prior to these changes, most locations were selling 7,500 bowls per month.





Requirement 1. What was the average​ restaurant's operating income before these​ changes?Identify the formula labels and compute the operating income before the changes.Contribution margin per unit$3.00Times:Average sales volume units7,500Contribution margin$22,500Less:Fixed expenses8,400O...

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Requirement 1Fixed expenses+Operating income) ÷Contribution margin ratio=Breakeven sales in dollarsBreakeven Sales in Units=3.907,800​≈2,000Breakeven Sales in Dollars=2,000×6.00=12,000Requirement 2Total Contribution Required=7,800+6,500=14,300Contribution ...

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The answer is 60%Part BContribution Margin Income StatementSales revenue$105,000Less: Variable expenses42,000Contribution margin$63,000Less: Fixed expenses30,000Operating income (loss)$33,000...

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You’ve spent the last eighteen months writing a how-to book for entrepreneurs who want to establish their own business. As you put the final editing touches on the book, you start thinking about how you can protect your book, and how you can make sure you receive the profit from it.
What do you think you should do to make sure only you can profit from your work?

Nothing; copyright protection happens automatically once the work is in tangible form....

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Chloe is taking a botany class at the local university, so she purchases the textbook from the bookstore. Several of Chloe’s friends are also taking the botany class. Chloe decides to make some money on her purchase of the textbook. Chloe scans the book into her computer and then sells the digital copies to her friends for 25 percent of the price they would have paid for the textbook. After selling her digital “product” to six friends, Chloe not only has more than recovered the cost of her textbook, she can still sell the book back to the bookstore at the end of the semester. Genius! By scanning and selling the textbook, Chloe has:

committed copyright infringement because her actions are not permissible under the first sale doctrine....

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