Product Pricing: Single Product
Sue Bee Honey is one of the largest processors of its product for the retail market. Assume that one of its plants has annual fixed costs totaling $12,000,000, of which $4,500,000 is for administrative and selling efforts. Sales are anticipated to be 800,000 cases a year. Variable costs for processing are $30 per case, and variable selling expenses are 25 percent of selling price. There are no variable administrative expenses. If the company desires a profit of $7,500,000, what is the selling price per case? Round answer to two decimal places.
$ 0 price per case

Answer: $72.50

Explanation:

Let the selling price per case be represented by x.

Based on the information you can in the question, we will have an equation as:

(80000 × x) = 12,000,000 + 7,500,000 + (800,000 × 30) + (0.25 × 800000x

800000x = 12,000,000 + 7,500,000

+ (800,000 × 30) + (0.25 × 800000x)

800000x = 43500000 + 200000x

Collect like terms

800000x - 200000x = 43,500,000

600,000x = 43500000

x = 43,500,000 / 600,000

x = 72.50

Selling price per case is $72.50

When following up with a customer it is important to ___.
a. make the process easy on the employee
b. make the process a little unpleasant
c. keep it in the store's best interest
d. use a method suited to the customer

Sheila and Jim live in an island where they are the only two workers. Sheila can either catch 10 fish or gather 40 pounds of berries each day, and Jim can either catch 8 fish or gather 24 pounds of berries each day. Both of them work 200 days per year. At current world prices 1 fish trades for 3.5 pounds of berries. Who has the comparative advantage in producing berries

Tomorrow Publications collects magazine subscriptions from customers at the time subscriptions are sold. Subscription revenue is recognized over the term of the subscription. Tomorrow Publications collected $20 million in subscription sales during its first year of operations. At December 31, the average subscription was one-fourth expired. When Tomorrow Publications collects the subscriptions from customers, which of the following account will be credited?
a. Subscriptions Expense.
b. Unearned Subscriptions Revenue.
c. None of the other three answers is correct.
d. Cash

Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $310,000 February 350,000 March 510,000 All sales are on account. 58% of sales are expected to be collected in the month of the sale, 37% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March.

Classify each of the following based on the macroeconomic definitions of saving and investment.
Saving Investment
Edison purchases a certificate of deposit at his bank.
Maria purchases stock in NanoSpeck, a biotech firm.
Hilary purchases new ovens for her cupcake-baking business.
Kevin takes out a loan and uses it to build a new cabin in Montana.

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Rooney Corporation is considering the elimination of one of its segments. The segment incurs the following fixed costs. If the segment is eliminated, the building it uses will be sold. Advertising expense $ 81,000 Supervisory salaries 170,000 Allocation of companywide facility-level costs 65,000 Original cost of building 118,000 Book value of building 62,000 Market value of building 84,000 Maintenance costs on equipment 73,000 Real estate taxes on building 12,000 Required Determine the amount of avoidable cost associated with the segment.

Prepare a corrected trial balance by changing incorrect amounts and placing each amount in the proper column.

Davenport's European Tours Trial Balance October 31, 20--
Account Title Debit Credit
Cash 15,560
Accounts Receivable 406
Supplies 246
Prepaid Insurance 589
Equipment 24,450
Accounts Payable 6,012
Davenport, Capital 30,500
Davenport, Drawing 1,800
Repair Fees 9,274
Wages Expense 4,250
Rent Expense 1,300
Advertising Expense 290
Utilities Expense 495
47,586 47,586

At year-end, Yates Company estimates that $1,500 of its accounts receivable balance is uncollectible. Yates uses the allowance method to account for bad debts. The entry to record this adjusting entry would include a: Multiple choice question. debit to Allowance for Doubtful Accounts and credit to Bad Debts Expense debit to Accounts Receivable and credit to Bad Debts Expense debit to Bad Debts Expense and credit to Accounts Receivable debit to Bad Debts Expense and credit to Allowance for Doubtful Accounts

For February, sales revenue is $700,000, sales commissions are 5% of sales, the sales manager's salary is $96,000, advertising expenses are $90,000, shipping expenses total 2% of sales, and miscellaneous selling expenses are $2,500 plus 1/2 of 1% of sales. Total selling expenses for the month of February area.$161,000b.$235,000c.$241,000d.$237,500

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what is the role of education to become a manager ?​

Tolbotics Inc. is considering a three-year project that will require an initial investment of $44,000. If market demand is strong, Tolbotics Inc. thinks that the project will generate cash flows of $29,500 per year. However, if market demand is weak, the company believes that the project will generate cash flows of only $2,000 per year. The company thinks that there is a 50% chance that demand will be strong and a 50% chance that demand will be weak.
If the company uses a project cost of capital of 14%, what will be the expected net present value (NPV) of this project if the company is ignoring the timing option?
a. -$3,435
b. -$3,779
c. -$3,092
d. -$3,607

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Pina Company has the following two temporary differences between its income tax expense and income taxes payable.

2020 2021 2022
Pretax financial income $864,000 $917,000 $909,000
Excess depreciation expense on tax return (30,400) (38,500) (9,800 )
Excess warranty expense in financial income 19,400 10,100 8,300
Taxable income $853,000 $888,600 $907,500

The income tax rate for all years is 20%.

a. Assuming there were no temporary differences prior to 2017, prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019.
b. Indicate how deferred taxes will be reported on the 2019 balance sheet. Martinezâs product warranty is for 12 months.
c. Prepare the income tax expense section of the income statement for 2019, beginning with the line "Pretax financial income."

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Required:
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b. On July 1, 2020, Rasheed paid Third National all that was due from the loan it secured on April 1, 2020. Prepare the journal entry to record this payment.

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Why is a bank more likely to offer you credit if you have a co-singer with good credit?

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Texas Roadhouse opened a new restaurant in October. During its first three months of operation, the restaurant sold gift cards in various amounts totaling $1,800. The cards are redeemable for meals within one year of the purchase date. Gift cards totaling $728 were presented for redemption during the first three months of operation prior to year-end on December 31. The sales tax rate on restaurant sales is 4%, assessed at the time meals (not gift cards) are purchased. Texas Roadhouse will remit sales taxes in January.

Required:
a. Record (in summary form) the S3,500 in gift cards sold (keeping in mind that, in actuality, the firm would record each sale of a gift card individually).
b. Record the S728 in gift cards redeemed.
c. Determine the balance in the Deferred Revenue account (remaining liability for gift cards).

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Fill in the missing numbers for the following income statement. (Input all amounts as positive values. Do not round intermediate calculations.)
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a. Calculate the OCF. (Do not round intermediate calculations.)
b. What is the depreciation tax shield? (Do not round intermediate calculations.)
a. OCF
b. Depreciation tax shield

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Trainees are put through a two-month school. The fixed cost of running one session of this school is $150,000. Any number of sessions can be run during the year but must be scheduled so that the airline always has enough flight attendants. The cost of having excess attendants is simply the salary that they receive, which is $15,000 per month. How many sessions of the school

If an adjusting entry is not made for an accrued expense,
a. expenses will be overstated,
b. liabilities will be understated.
c. net income will be understated.
d. equity will be understated.​