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Pro Sports Inc. manufactures basketballs for professional basketball associations. For the first six months of 2020,...
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ekkarill92 answered 2 years agoRelated Solutions
Pro Sports Inc. manufactures basketballs for professional basketball associations. For the first six months of 2020,...
Pro Sports Inc. manufactures basketballs for professional
basketball associations. For the first six months of 2020, the
company reported the following operating results while operating at
90% of plant capacity:
Amount
Per Unit
Sales
$5,232,600
$51.00
Cost of goods sold
3,591,000
35.00
Selling and administrative expenses
451,440
4.40
Net income
$1,190,160
$11.60
Fixed costs for the period were cost of goods sold of $1,026,000,
and selling and administrative expenses of $184,680.
In July, normally a slack manufacturing month, Pro Sports...
Pro Sports Inc. manufactures basketballs for professional basketball associations. For the first six months of 2016,...
Pro Sports Inc. manufactures basketballs for professional
basketball associations. For the first six months of 2016, the
company reported the following operating results while operating at
90% of plant capacity:
Amount Sales $4,500.00 at $50.00 per unit
Cost of goods sold 3,150,000 at $35.00 per unit
Selling and administrative expenses 360,000 at $4.00 per
unit
Net income 990,000 at $11.00 per unit
Fixed costs for the period were: cost of goods sold $900,000, and
selling and administrative expenses $162,000.
In...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6...
ThreePoint Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2020, the company reported the following operating results while
operating at 80% of plant capacity and producing 118,800 units.
Amount
Sales
$4,514,400
Cost of goods sold
3,560,532
Selling and administrative expenses
468,164
Net income
$485,704
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $227,000.
In July, normally a slack manufacturing month, ThreePoint Sports
receives...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6...
ThreePoint Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2020, the company reported the following operating results while
operating at 80% of plant capacity and producing 120,300 units.
Amount
Sales
$4,571,400
Cost of goods sold
3,713,667
Selling and administrative
expenses
534,893
Net income
$322,840
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $257,000.
In July, normally a slack manufacturing month, ThreePoint Sports
receives...
Bramble Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6...
Bramble Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2017, the company reported the following operating results while
operating at 80% of plant capacity and producing 119,700
units.
Amount
Sales
$4,788,000
Cost of goods sold
3,559,884
Selling and administrative expenses
468,445
Net income
$759,671
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $247,000.
In July, normally a slack manufacturing month, Bramble Sports
receives...
ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6...
ThreePoint Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2020, the company reported the following operating results while
operating at 80% of plant capacity and producing 119,700
units.
Amount
Sales
$4,788,000
Cost of goods sold
3,559,884
Selling and administrative expenses
468,445
Net income
$759,671
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $247,000.
In July, normally a slack manufacturing month, ThreePoint Sports
receives...
PinaColada Sports Inc. manufactures basketballs for the Women’s National Basketball Association (WNBA). For the first 6...
PinaColada Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2020, the company reported the following operating results while
operating at 80% of plant capacity and producing 120,300
units.
Amount
Sales
$4,571,400
Cost of goods sold
3,713,667
Selling and administrative expenses
534,893
Net income
$322,840
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $257,000.
In July, normally a slack manufacturing month, PinaColada Sports
receives...
Problem 20-1A (Part Level Submission) ThreePoint Sports Inc. manufactures basketballs for the Women’s National Basketball Association...
Problem 20-1A (Part Level Submission)
ThreePoint Sports Inc. manufactures basketballs for the Women’s
National Basketball Association (WNBA). For the first 6 months of
2017, the company reported the following operating results while
operating at 80% of plant capacity and producing 119,900
units.
Amount
Sales
$4,676,100
Cost of goods sold
3,527,059
Selling and administrative expenses
482,601
Net income
$666,440
Fixed costs for the period were cost of goods sold $960,000, and
selling and administrative expenses $244,000.
In July, normally a slack...
Elias Company has prepared a budget for the first six months of 2020. Monthly budgets for...
Elias Company has prepared a budget for the first six months of
2020. Monthly budgets for revenues are provided at left. Experience
indicates that Elias will collect 75% of sales in the month of
sale, 15% in the month following the sale, and 7.5% in the second
month after the sale. The remaining 2.5% of sales are expected to
be uncollectible.
Prepare a cash collections budget
for Elias for the months of March, April, and May
2020. Show your work....
Speedy Sports manufactures basketballs that sell for $ 25. At present, the ball is manufactured in...
Speedy Sports manufactures basketballs that sell for $ 25. At
present, the ball is manufactured in a small plant that relies
heavily on direct labor workers. Therefore, variable costs are
high, totaling $ 15 per ball, of which 60% is direct labor cost.
Fixed costs are $ 210,000. Last year, the firm sold 30,000
balls.
Compute (1) the CM ratio and the breakeven point in units and
(2) the degree of operating leverage.
Due to an increase in labor rates,...
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