Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 19,200 portable grills, 43,200 stationary grills, and 4,800 smokers. Information on the three models is as follows:

Total fixed cost is $2,175,120.

Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 13,800 portable grills, 50,600 stationary grills, and 4,600 smokers. Information on the three models is as follows:

Total fixed cost is $2,163,490.

Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 15,900 portable grills, 53,000 stationary grills, and 5,300 smokers. Information on the three models is as follows:

Total fixed cost is $2,016,120.

On December 31, 2018, Alan and Company prepared an income statement and balance sheet but failed to take into account four adjusting journal entries. The income statement, prepared on this incorrect basis, reported income before income tax of $31,000. The balance sheet (before the effect of income taxes) reflected total assets, $92,000; total liabilities, $41,000; and stockholders’ equity, $51,000. The data for the four adjusting journal entries follow:

1. Effect of Amortization of $8,200 for the year on software was not recorded.
2. Salaries and Wages amounting to $17,200 for the last three days of December 2018 were not paid and not recorded (the next payroll will be on January 10, 2019).
3. Rent revenue of $5,100 was collected on December 1, 2018, for office space for the three-month period December 1, 2018, to February 28, 2019. The $5,100 was credited in full to Deferred Revenue when collected.
4. Income taxes were not recorded and not paid. The income tax rate for the company is 20%.

Required:

Complete the following table to show the effects of the four adjusting journal entries. (Negative amounts should be indicated by a minus sign.)

Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 15,300 portable grills, 45,900 stationary grills, and 5,100 smokers. Information on the three models is as follows:

Total fixed cost is $1,873,680.

Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 15,000 portable grills, 45,000 stationary grills, and 5,000 smokers. Information on the three models is as follows: Portable Stationary Smokers Price $89 $196 $255 Variable cost per unit 45 126 141 Total fixed cost is $1,918,440. Required: 1. What is the sales mix of portable grills to stationary grills to smokers? 2. Compute the break-even quantity of each product. 3. Prepare an income statement for Texas-Q for the coming year. What is the overall contribution margin ratio? Use the contribution margin ratio to compute overall break-even sales revenue. Enter the contribution margin ratio as a percentage rounded to two decimal places; round the break-even sales revenue to the nearest dollar. 4. Compute the margin of safety for the coming year.

Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 15,900 portable grills, 47,700 stationary grills, and 5,300 smokers. Information on the three models is as follows:

Total fixed cost is $1,835,220.

Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 18,400 portable grills, 46,000 stationary grills, and 4,600 smokers. Information on the three models is as follows: Portable Stationary Smokers Price $92 $201 $252 Variable cost per unit 45 135 144 Total fixed cost is $2,064,960. Required:

1. What is the sales mix of portable grills to stationary grills to smokers?

2. Compute the break-even quantity of each product.

3. Prepare an income statement for Texas-Q for the coming year. What is the overall contribution margin ratio? Use the contribution margin ratio to compute overall break-even sales revenue. Enter the contribution margin ratio as a percentage rounded to two decimal places; round the break-even sales revenue to the nearest dollar.

4. Compute the margin of safety for the coming year.

Texas-Q Company produces and sells barbeque grills. Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, and the specialty smoker. In the coming year, Texas-Q expects to sell 21,200 portable grills, 47,700 stationary grills, and 5,300 smokers. Information on the three models is as follows:

Total fixed cost is $1,904,700.