Lorge corporation has collected the following information after its first year of sales. sales were $2,500,000 on 100,000 units; selling expenses $250,000 (40% variable and 60% fixed); direct materials $1,360,600; direct labor $260,000; administrative expenses $270,000 (20% variable and 80% fixed); and manufacturing overhead $322,000 (70% variable and 30% fixed). top management has asked you to do a cvp analysis so that it can make plans for the coming year. it has projected that unit sales will increase by 10% next year. compute (1) the contribution margin for the current year and the projected year, and (2) the fixed costs for the current year. (assume that fixed costs will remain the same in the projected year.)

(1) whats'ts the contribution margin for current year

what's the contribution margin for projected year

(2) what' s the ixed costs for current year

compute the break-even point in units and sales dollars for the first year. (round contribution margin ratio to 2 decimal places e. g. 0.15 and final answers to 0 decimal places, e. g. 2,510.) break-even point units break-even point $

Ryan terlecki organized a new internet company, capuniverse, inc. the company specializes in baseball-type caps with logos printed on them. ryan, who is never without a cap, believes that his target market is college and high school students. you have been hired to record the transactions occurring in the first two weeks of operations. issued 2,900 shares of $0.01 par value common stock to investors for cash at $29 per share. borrowed $68,000 from the bank to provide additional funding to begin operations; the note is due in two years. paid $1,000 for the current month's rent of a warehouse and another $1,000 for next month's rent. paid $1,440 for a one-year fire insurance policy on the warehouse (recorded as a prepaid expense). purchased furniture and fixtures for the warehouse for $16,000, paying $3,200 cash and the rest on account. the amount is due within 30 days. purchased for $2,800 cash the university of pennsylvania, notre dame, the university of texas at austin, and michigan state university baseball caps as inventory to sell online. placed advertisements on google for a total of $340 cash. sold caps totaling $1,900, half of which was charged on account. the cost of the caps sold was $1,100. (hint: make two entries.) made full payment for the furniture and fixtures purchased on account in (e). received $280 from a customer on account.

The winston company estimates that the factory overhead for the following year will be $1,250,000. the company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. the total machine hours for the year were 54,300. the actual factory overhead for the year were $1,375,000. determine the over- or underapplied amount for the year.

Which of the following is an example of a production quota? a. the government sets an upper limit on the quantity that each dairy farmer can produce. b. the government sets a price floor in the market for dairy products. c. the government sets a lower limit on the quantity that each dairy farmer can produce. d. the government guarantees to buy a specified quantity of dairy products from farmers.