Gb519 week 3 assignment | Business & Finance homework help

9-33 CVP AnalysisLawn Master company, a manufacturer of riding lawn mowers, has a projected income for 2013 as follows:
Sales      46,000,000Operating expenses:     Variable expenses $32,200,000Fixed expenses $7,500,000Total expenses      39,700,000 Operating profit $6,300,000
9-33 questions:1. Determine the breakeven point in sales dollars.2. Determine the required sales in dollars to earn a before tax profit of $8,000,000.3. What is the breakeven point in sales dollars if the variable cost increases by 12%?
 
10-55
Kelly Company is a retail sporting goods store. Facts regarding Kelly’s operations are as follows:
– Sales, all on account, are budgeted at $220,000 for December and $200,000 for January.
– Collections are expected to be 60% in the month of sale an= d 38% in the month following the sale.
-Gross margin is 25% of sales.
– A total of 80% of the merchandise sold in a month is purchased in the month prior to the month of sale and 20% is purchased in the mo= nth of sale. Payment for purchased merchandise is made in the month following the purchase.
– Other expenses [selling and administrative] to be paid in = cash each month are $22,600.
– Annual depreciation is $216,000, one-twelfth of which= is reflected as part of monthly operating expenses.Kelly Company’s statement of financial position at the close of business on November 30 as follows:
Kelly CompanyStatement of Financial Position November 30, 2013
Assests
Cash = $22,000Accounts receivable(net of $4,000 = 76,000Allowance for doubtful accounts)
Inventory =    132,000
Property, plant, and equipment(net of $680,000 accumulated depreciation)  870,000=
Total Assets    $1,100,= 000
Liabilities and Stockholders Equity
 Accounts payable $162,000Common stock =     800,000Retaining earnings = 138,000
Total liabilities and equity = $1,100,000
 
 

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