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Solar Panel Battery Working Answer 1 ...

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Verified Solution

Question

Accounting

Solar Panel Battery

Working

Answer

1

Contribution Margin (CM)

2

Break-even point (BEP)

3

Sales units required for $7m profit

Table B-1

Cost/Expense item

Amount ($)

Cost of goods sold

4,700,000

Sales Salaries expense

750,000

Office Salaries expense

600,000

Advertising expense

850,000

Office supplies expense

528,000

Rent expense

980,000

Insurance expense

390,000

Utilities expense

490,000

Depreciation expense

282,000

Interest expense

380,000

Tax expense

450,000

Total

10,400,000

Table B-2

Accounts

Amount ($)

Accounts receivable

6,600,000

Accounts payable

6,700,000

Bank

950,000

Capital

15,000,000

Dividends paid

650,000

Equipment

13,500,000

Fixtures

3,500,000

GST Collected

1,600,000

GST Paid

450,000

Inventory

2,250,000

Land and Buildings

28,000,000

Mortgage

27,000,000

Answer & Explanation Solved by verified expert
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