Help ASAP Please! Accounting class! Lorge Corporation has collected the following information after its first year of sales. Sales were $1,575,000 on 105,000 units; selling expenses $250,000 (40% variable and 60% fixed); direct materials $606,100; direct labor $250,000; administrative expenses $270,000 (20% variable and 80% fixed); and manufacturing overhead $357,000 (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.
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Answer:

Lorge Corporation

Contribution margin for the current year

= $315,000 ($3 per unit)

Contribution margin for the proposed year = $346,500

Fixed costs for the current year = $473,100

Break-even units = 157,700 units

Break-even sales dollars = $2,365,500

Explanation:

a) Data and Calculations:

Sales revenue = $1,575,000  

Sales units = 105,000 units

Sales price per unit = $15 ($1,575,000/105,000)

                                                  Total        Variable               Fixed

Selling expenses =            $250,000     $100,000 (40%)   $150,000 (60%)

Direct materials                  $606,100       606,100

Direct labor                       $250,000       250,000

Administrative expenses $270,000          54,000 (20%)    216,000 (80%)

Manufacturing overhead $357,000       249,900 (70%)      107,100 (30%)

Total costs                       $1,733,100  $1,260,000              $473,100

Contribution margin for the current year = $315,000 ($1,575,000 - $1,260,000)

= $3 per unit

Unit sales = 115,500 (105,000 * 1.1)

Sales revenue = $1,732,500

Variable costs      1,386,000 ($15 - $3)

Contribution margin for the proposed year = $346,500 ($3 * 115,500)

Fixed costs for the current year = $473,100

Break-even units = $473,100/$3 = 157,700 units

Break-even sales dollars = $473,100/0.2 = $2,365,500

Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 29,500 $ 42,000 Inventory 30,000 39,000 Net sales (all credit) 196,000 197,000 Cost of goods sold 124,000 110,000 Total assets 429,000 409,000 Total stockholders' equity 250,000 227,000 Net income 39,500 33,000 Stealth Company's 2021 receivables turnover ratio is:_______.

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is solicitation with the promise of reward is the highest level of sexual harassment
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M Corporation has provided the following data concerning an investment project that it is considering:
Initial investment $230,000
Annual cash flow $132,000 per year
Expected life of the project 4 years
The net present value of the project is closest to:____.
a. $250,000.
b. $144,128.
c. $(131,000).
d. $(144,128).

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Ignacio, Inc., had after-tax operating income last year of $1,196,500. Three sources of financing were used by the company: $2 million of mortgage bonds paying 4 percent interest, $4 million of unsecured bonds paying 6 percent interest, and $9 million in common stock, which was considered to be relatively risky (with a risk premium of 8 percent). The rate on long-term treasuries is 4 percent. Ignacio, Inc., pays a marginal tax rate of 30 percent.
Required:
Calculate the after-tax cost of each method of financing. Enter your answers as decimal values rounded to three places. For example, 4.36% would be entered as ".044".
Mortgage bonds __________
Unsecured bonds __________
Common stock __________

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b. Collected $5,600 cash on accounts receivable.
c. Paid $1,450 cash in advance for an insurance policy.
d. Paid $400 on accounts payable.
e. Recorded the adjusting entry to recognize $300 of insurance expense.
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g. Purchased land for $9,000 cash. Purchased supplies for $350 cash.

Required:
Record each of the above transactions.

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Required:
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In order to remain certified, I have to:
Submit a renewal form.
Complete a seller training course every 2 years.
Complete a 30 minute refresher course.
Do nothing, the certificate never expires.

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