Journalize the entries to record the following:
a. Check No. 8193 is issued to establish a petty cash fund of $800.
b. The amount of cash in the petty cash fund is now $294. Check No. 8336 is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $295; miscellaneous selling expense, $120; miscellaneous administrative expense, $75. (Since the amount of the check to replenish the fund plus the balance in the fund do not equal $800, record the discrepancy in the cash short and over account.)
Paper Details
Genifax reported the following information for September:
Sales revenue ????????????????????. $180,000
Fixed manufacturing costs ???????????????. 22,000
Fixed marketing and overhead costs ???????????. 14,000
Total variable costs ??????????????????. 120,000
Unit price ?????????????????????? 9
a. Determine the unit sales required to break even.
b. What unit sales would generate a net income of $30,000?
c. What unit sales would generate a profit of 20% of the sales revenue?
d. What sales revenue is required to produce a profit of $20,000?
e. If unit variable costs are reduced by 10% with no change in the fixed costs, what will be the unit sales to break even?
