A firm has the following financial figures: • Net Sales: $1,200,000 . Net Income: $102,000 Calculate the profit margin.

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A: To calculate the net operating income, we'll follow these steps:1. Calculate the total assets:Total…

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A: Step 1: Definition of Cost AllocationCost allocation is the process of distributing indirect costs…

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A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) measures a company's…

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A: Step 1: Definition of Straight-Line DepreciationStraight-Line Depreciation is a method of…

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A: Step 1: Definition of Overapplied and Underapplied OverheadOverapplied Overhead occurs when the…

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A: To find the total assets, we use the Return on Assets (ROA) formula: ROA=Net Income/Total…

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A: ROA = Net Income / Total Assets Given dataNet Sales = $12 millionProfit (Net Income) = $1.5…

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A: Explanation of Direct Materials Cost: Direct materials cost represents the cost of raw materials…

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A: Given Data:Current Assets:Book Value = $50 millionMarket Value = $52 millionFixed Assets:Book Value…

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A: Step 1: Definition of Accounts Receivable InvestmentThe investment in accounts receivable refers to…

Q: Sunrise Manufacturing has a Textile Division with the following financial details: • Sales: $320,000…

A: Step 1: Definition of Residual Income (RI)Residual Income (RI) is a financial performance measure…

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A: Concept of Cost of Goods Available for Sale (COGAS):Cost of Goods Available for Sale (COGAS) refers…

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A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a financial metric that…

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A: The accounting equation is:Assets = Liabilities + EquityAssets include:Accounts Receivable:…

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A: Step 1: Define Contribution Margin (Contribution Approach)Contribution Margin: It is the amount…

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A: Step 1: Definition of Units-of-Production DepreciationUnits-of-production depreciation is a method…

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A: Step 1: Definition of Taxable Income ReclassificationWhen the IRS deems a portion of a salary or…

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A: Step 1: Definition of Gross MarginGross margin is the difference between a company's revenue and the…

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A: Step 1: Definition of Activity RateActivity Rate: The activity rate is the cost per unit of…

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A: Concept of Historical Cost:Historical cost refers to the original purchase price of an asset,…

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A: The net income for 2022 is calculated as: $625,000 × 1.156 = $722,500 Correct answer: (c) $722,500 ✅

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A: Explanation of Standard Quantity (SQ):Standard Quantity refers to the predetermined amount of raw…

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A: Step 1: Define Annual Net Cash FlowAnnual Net Cash Flow is the amount of money generated by an…

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A: Step 1: Definition of Total Assets Total assets are the sum of everything a company owns and are…

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A: Since we don't have net income or taxes, let's make reasonable assumptions to estimate Operating…

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A: Step 1: Definition of Variable Overhead Efficiency VarianceThe variable overhead efficiency variance…

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A: Step 1: Definition of High-Low MethodThe High-Low Method is a technique used to estimate fixed and…

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A: Step 1: Definition of Return on Equity (ROE):Return on Equity (ROE) is a financial ratio that…

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A: Step 1: DefinitionsConcept of Accounts Receivable TurnoverAccounts receivable turnover is a…

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A: Step 1: Definition of Other Comprehensive Income (OCI)Other Comprehensive Income (OCI) includes…

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A: Step 1: Definition of Target Profit Sales (Units)Target profit sales (in units) refer to the number…

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A: Step 1: Definition of Applied OverheadApplied Overhead is the amount of manufacturing overhead…

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A: Step 1: Definition of Net SalesNet sales is calculated as total sales minus sales returns and…

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A: Concept of Sales:Sales refer to the total revenue generated by a company through the sale of goods…

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A: Step 1: Definition of Accounting Equation (Detailed Explanation)The accounting equation is the…

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A: Step 1: Definition of Direct Labor Price (Rate) VarianceThe Direct Labor Price (or Rate) Variance…

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A: Formula to be use: ​​Given : ​​  STEP 1 ​​ STEP 2 ​​ STEP 3 ​​

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A: Step 1: The return on assets (ROA) metric is calculated using the following formula, wherein a…

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A: Step 1: Definition of Gross ProfitGross profit is the difference between a company's net sales…

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A: Step 1: Definition of High-Low MethodThe High-Low Method is a cost estimation technique used to…

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A: Step 1: Definition of Applied OverheadApplied Overhead is the estimated overhead cost assigned to a…

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A: Step 1: Definition of Average Collection Period (ACP)The Average Collection Period (ACP) measures…

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A: Explanation of Fixed Costs:Fixed costs are business expenses that remain constant regardless of the…

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A: To calculate your firm's Days Sales Outstanding (DSO), you can use the following formula:…