Help with this Accounting Questions?

Posted on 2014-04-11 11:56:00 in Accounting by GROHLIER

I'm starting to get lost with my accounting homework. Can someone help explain the answers?



!) Penelope's, Inc. sells MP3 players for $60 each. Variable costs are $40 per unit, and fixed costs total $60,000. What sales are needed by Penelope to break even?

Answer

a.

240,000

b.

80,000

c.

150,000

d.

180,000





2) Bernies' Department Store reported the following information for 2012:



October November December

Budgeted sales $930,000 $870,000 $1,080,000



All sales are on credit and customer amounts on account are collected 50% in the month of sale and 50% in the following month. How much cash will Bernies' receive in November?



#) Frazier Distribution Company collected the following production data for the past month:



Units Produced Total Cost



1,600 $33,000



1,300 $28,500



1,500 $33,750



1,100 $24,750



If the high-low method is used, what is the monthly total cost equation?

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