I have an hour to do it, need to know if it can be done bc its timed

Question

Rochak · Accepted Answer

1.
Wages of assembly line workers Fixed
 President's salary Mixed 
Plant utilities Fixed 
Sales force commissions Variable 
Shipping costs Variable
Factory rent Fixed
Research and development expenses Fixed 
Property taxes Fixed 
Advertising Fixed
Supplies used in production Variable
2. 
Balance Sheet
	Balance Sheet
	
	
	
	2020
	2019
	Assets
	
	
	Current assets:
	
	
	Cash
	159000
	264000
	Accounts Receivable
	150000
	219000
	Inventory
	168000
	147000
	Total Current Assets
	477000
	630000
	Land
	120000
	120000
	Buildings and Equipment
	780000
	486000
	Less: Accumulated depreciation
	-504000
	-369000
	Total land, building and equipment
	276000
	117000
	Total assets
	873000
	867000
	Liabilities
	
	
	Current liabilities:
	
	
	Short-term debt
	96000
	81000
	Notes payable
	144000
	108000
	Accounts payable
	69000
	87000
	Total Current liabilities
	309000
	276000
	Long term debt
	255000
	330000
	Stockholders equity
	
	
	Common Stock
	120000
	90000
	Retained earnings
	189000
	171000
	Total Stockholders equity
	309000
	261000
	Total liabilities and stockholders equity
	873000
	867000
Statement of Changes in Retained Earnings for the year ended December 31, 2020
	Particulars 
	Amount
	Retained Earnings at 2019
	171000
	Add: Net Income in 2020
	27000
	
	198000
	Less: Dividends paid
	9000
	Retained Earnings at 2020
	189000
3.
a. Debt Ratio = Total Debt/Total Assets
= $216,000/$288,000
= 0.75
b. Debt/Equity Ratio = Total Debt/Total Equity
= $216,000/($288,000-$216,000)
= 3.00
c. Times Interest Earned for the year ended December 31, 2019 = Earning before interest and taxes/Interest Expense
= $97,500/$15,000
= 6.5
4. 
a. Operating Income for July = ((Current Selling Price – Variable Costs) * Sales) – Fixed Expenses
= (($30-$21)*12,000)-$90,000
= $18,000
b. Breakeven points in units sold = Fixed Cost/(Current Selling Price – Variable Costs)
= $90,000/($30-$21)
= 10,000
Breakeven points in total revenues = Fixed Cost/((Current Selling Price – Variable Costs)/Current Selling Price)
= $90,000/(($30-$21)/$30)
= $300,000
c. 
1. Operating Income = ((Current Selling Price – Variable Costs) * Sales) – Fixed Expenses
= (($30-$15)*12,000)-$100,000
= $80,000
2. Breakeven points in units sold = Fixed Cost/(Current Selling Price – Variable Costs)
= $100,000/($30-$15)
= 6,666.67
Breakeven points in total revenues = Fixed Cost/((Current Selling Price – Variable Costs)/Current Selling Price)
= $100,

I have an hour to do it, need to know if it can be done bc its timed

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