GB519: Measurement and Decision Making unit 3 homework

9-33 CVP Analysis

Lawn Master company, a manufacturer of riding lawn mowers, has a projected income for 2013 as follows:

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Sales 46,000,000

Operating expenses:

Variable expenses $32,200,000

Fixed expenses $7,500,000

Total expenses 39,700,000

Operating profit $6,300,000

9-33 questions:

1. Determine the breakeven point in sales dollars.

2. Determine the required sales in dollars to earn a before tax profit of $8,000,000.

3. What is the breakeven point in sales dollars if the variable cost increases by 12%?


Kelly Company is a retail sporting goods store. Facts regarding Kelly’s operations are as follows:

– Sales, all on account, are budgeted at $220,000 for December and $200,000 for January.

– Collections are expected to be 60% in the month of sale an= d 38% in the month following the sale.

-Gross margin is 25% of sales.

– A total of 80% of the merchandise sold in a month is purchased in the month prior to the month of sale and 20% is purchased in the mo= nth of sale. Payment for purchased merchandise is made in the month following the purchase.

– Other expenses [selling and administrative] to be paid in = cash each month are $22,600.

– Annual depreciation is $216,000, one-twelfth of which= is reflected as part of monthly operating expenses.

Kelly Company’s statement of financial position at the close of business on November 30 as follows:

Kelly Company

Statement of Financial Position

November 30, 2013


Cash = $22,000

Accounts receivable(net of $4,000 = 76,000

Allowance for doubtful accounts)

Inventory = 132,000

Property, plant, and equipment(net of $680,000 accumulated depreciation) 870,000=

Total Assets $1,100,= 000

Liabilities and Stockholders Equity

Accounts payable $162,000

Common stock = 800,000

Retaining earnings = 138,000

Total liabilities and equity = $1,100,000

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