Consider the following condensed Income Statement: Sales COGS 2015 $8,000,000 6,500,000 Gross Profit 1,500,000 Sales growth in 2016 is expected to be 15%. If COGS is assumed to vary directly with sales, then Gross Profit for 2016 will be
Q: Please solve the following requirements on these financial accounting question
A: A)The Asset Turnover Ratio measures how efficiently a company uses its assets to generate sales. The…
Q: Ans plz
A: SOLUTION: Fixed charges (F.C) = 150,000 dollarsVariable Charges (V.C) = 5 dollars per unit.Selling…
Q: Calculate the companys overhead rate based on total direct Labor hour
A: Explanation of Overhead Rate:The Overhead Rate is a predetermined rate used to allocate indirect…
Q: Please need help with this accounting question
A: Step 1: Definition of Production RequirementProduction requirement refers to the number of units a…
Q: Hi expert please give me answer general accounting question
A: Step 1: Definition of Revenue Recognition under Accrual AccountingUnder the accrual method of…
Q: Burson Enterprises' May 31 bank reconciliation shows deposits in transit of $850. The general ledger…
A: Explanation of Bank Reconciliation: A bank reconciliation is a process that compares a company's…
Q: Ayayai Corp. employs a five-day workweek Monday - Friday and a September 30 year-end. Normal weekly…
A: First, we need to determine the daily wage rate. Since Ayayai Corp. employs a five-day workweek, we…
Q: General accounting question
A: Step 1: Definition of After-Tax Cash Flow from Operations After-tax cash flow from operations is the…
Q: What is the accounts receivable turnover of this financial accounting question?
A: Step 1: Define Accounts Receivable TurnoverThe Accounts Receivable Turnover is a financial ratio…
Q: What were the company's average days to collect receivable on these general accounting question?
A: Step 1: Define Average Collection PeriodThe Average Collection Period is a financial metric that…
Q: expert of general accounting answer
A: To determine the amount at which the loss will be reported on the income statement, we need to…
Q: I want to correct answer general accounting question
A: Step 1: Definition of Actual Direct Materials CostThe actual total direct materials cost is…
Q: what is the inventory turnover ratio?
A: Calculation of Average InventoryAverage Inventory = (Beginning Inventory + Ending Inventory) / 2…
Q: Franklin Company had a beginning raw materials inventory of $9,500. During the period, the company…
A: Explanation of Raw Materials Inventory:Raw Materials Inventory refers to the materials and…
Q: Fixed assets? General accounting
A: Step 1: Definition of Proceeds from Sale of Fixed AssetsProceeds from the sale of fixed assets refer…
Q: On May 1st, Golden Harvest, Inc. purchased $1,500 worth of supplies on account. On December 31st,…
A: Explanation of Supplies Account:The Supplies Account is an asset account that tracks the cost of…
Q: What is the amount of income or loss from the acceptance of the offer on these accounting question?
A: Step 1: Definition of Relevant CostRelevant cost refers to the costs that will be directly affected…
Q: Hi expert please give me answer general accounting question
A: Step 1: Definition of Material Quantity Variance The material quantity variance (MQV) measures the…
Q: Orion Manufacturing has annual fixed costs of $180,000 and variable costs of $4 per unit. Each unit…
A: Approach to solving the question: Detailed explanation:Therefore, Orion Manufacturing must sell…
Q: What is the adjusted book balance? General accounting question
A: Step 1: Define Adjusted Book BalanceThe adjusted book balance is the corrected balance of the cash…
Q: I want to correct answer general accounting
A: Step 1: Shareholders' Equity is the amount invested by the owners in the business. In the business…
Q: What is the return on equity (ROE) for 2017?
A:
Q: Hawk, Inc. reported on its 2022 Statement of Cash Flows that it paid $95,400 for interest. The…
A: Explanation of Interest Payable:Interest Payable is a liability on a company's balance sheet that…
Q: What is the amount of overhead allocated to job 8-17?
A: Explanation of Overhead Allocation:Overhead Allocation is the process of assigning indirect…
Q: Solve now this q
A: Question as per my understanding (as the font is very blurry) - Brightwood seating sells reclining…
Q: Weston Industries uses a predetermined overhead rate of $19.75 per direct labor hour. This…
A: Step 1: Definition of Underapplied or Overapplied OverheadUnderapplied overhead occurs when the…
Q: What is the largest possible total contribution margin
A: To determine the largest possible total contribution margin, we need to maximize the contribution…
Q: Brighton Apparel Store had a balance in the Accounts Receivable account of $500,000 at the beginning…
A: Step 1: Definition of Average Collection PeriodThe Average Collection Period measures the average…
Q: compute the traditional overhead rate per labor hour.
A: Step 1: Definition of Traditional Overhead RateThe traditional overhead rate per labor hour is the…
Q: general accounting
A: Step 1: Definition of Price-Earnings (P/E) RatioThe Price-Earnings (P/E) ratio is a financial metric…
Q: Hi, i am having trouble with these types of questions It would be a blessing to get some help!
A: Approach to solving the question: In the solution below, I have used the exact same format as…
Q: Please answer do fast and step by step calculation with explanation of this general accounting…
A: Step 1: Definition of Selling Price Per UnitThe selling price per unit is the amount a company must…
Q: Please solve this accounting problem not use ai
A: Step 1: Definition of Labor Rate Variance and Labor Efficiency VarianceLabor Rate Variance (LRV)…
Q: accounting question
A: Step 1: Definition of Days Sales Outstanding (DSO)Days Sales Outstanding (DSO) is a financial metric…
Q: Please see an attachment for details general accounting question
A: Step 1: Define Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) refers to the…
Q: hello tutor provide answer of this General accounting question
A: Step 1: DefinitionPresent Value of Future Income (Asset 1) : Future income is growing at a constant…
Q: General accounting
A: Step 1: Define Return on Equity (ROE) Using DuPont AnalysisReturn on Equity (ROE) is a financial…
Q: What is the increase in sales?. Accounting
A: Step 1: Definition of Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL) is a…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Shareholders' EquityShareholders' equity represents the residual interest in…
Q: XYZ Corp. had total sales of $1,200 million for fiscal year 2022. The company's gross profit ratio…
A: Step 1: Definition of Gross Profit and Cost of Goods Sold (COGS)Gross Profit is the difference…
Q: What is the product cost per yogurt Cup under absorption costing? Accounting
A: Step 1: Definition of Absorption CostingAbsorption costing is a method of product costing that…
Q: What is the amount of cash paid for wages in 2022 on these financial accounting question?
A: Step 1: Definition of Cash Paid for WagesCash paid for wages represents the actual cash outflow for…
Q: Don't use chart gpt solution solve this question general accounting
A: Step 1: Define High and Low PointsHighest Activity Level: 3,200 machine hours, $48,300 maintenance…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Allowance for Sales ReturnsThe Allowance for Sales Returns is a contra-revenue…
Q: What was the balance in interest payable?
A: Explanation of Interest Payable:Interest payable refers to the amount of interest a company owes to…
Q: Why do companies make adjusting entries? When are adjusting entries made and at what point in the…
A: Adjusting entries are an essential part of the accounting process. They are made at the end of an…
Q: s
A: To solve this, we use the formula:ΔRₛₜₒ𝚌ₖ = β × ΔRₘₐᵣₖₑₜwhere;β=−0.25ΔRₘₐᵣₖₑₜ = 5% or −5%a-1.…
Q: What is the total direct materials cost variance?
A: Step 1: Definition of Total Direct Materials Cost VarianceThe Total Direct Materials Cost Variance…
Q: what is the overhead at the end of the year ?
A: Step 1: Definition of Over- or Under-Applied OverheadManufacturing overhead is applied to production…
Q: Financial Accounting Question please answer
A: Step 1: Definition of Financial Advantage (Disadvantage) AnalysisA financial advantage (or…
Gross profit?
Step by step
Solved in 2 steps
- SolutionPerform a vertical analysis of the P&L (FS Company). "Formula: Vertical Analysis % - Each income statement items / Revenues (or Net sales) Fill in each Blank. Round your answers to the nearest tenth percent, i.e. 4.5%. PLEASE SUBMIT YOUR ANSWERS IN % and include the % symbol. Do not leave any blank. If the answer is 0, be sure to put 0. Cost of goods sold Gross profit Net sales $858,000 Select] Other expenses Interest revenue Income from operations Interest expense 2018 Income before income taxes Income tax expense Net income 513,000 345,000 244,000 101,000 4,000 24,000 81,000 33,000 FS Company Comparative P&L statement Years Ended December 31, 2018 and 2017 48,000 % of sales Select J [Select] | Select | [Select] [Select] [Select] [ Select] Select] Select > >Consider the following information that you propose to use to obtain an estimate of year 2004 EPS for the MacLog Company. Estimated Year 2019 Year 2020 GDP 11,000 Billion GDP growth 3.5% Sales per share $800 Operating profit margin 12% Depreciation/Fixed Assets 14% Fixed asset turnover 2 Interest rate 3.5% Total asset turnover 0.7 Debt/Total assets 45% Tax rate 36% In addition, a regression analysis indicates the following relationship between growth in sales per share for MacLog, and GDP growth is %Δ Sales per share = 0.015 + 0.75(%Δ GDP) Refer to Exhibit 9.6. Calculate the firm's level of Total Assets per share for the year 2020. a. $1,385.77 b. $1,113.58 c. $1,050.65 d. $1,065.67 e. $1,190.06
- Suppose a firm has had the following historic sales figures. What would be the forecast for next year's sales using the average approach? Year: 2009 2010 2011 2012 2013 Sales $1,500,000 $1,750,000 $1,400,000 $2,000,000 $1,600,000Can you please give answer?Suppose a company has had the historic sales figures shown below. What would be the forecast for next years sales using the average approach?
- Suppose a firm has had the following historic sales figures. Year: 2009 2010 2011 2012 2013 Sales $3,300,000 $3,550,000 $3,200,000 $3,800,000 $3,400,000 What would be the forecast for next year's sales using the average approach? Next year's salesCalculate Sales Revenue for Company XYZ Ltd for 2016; if Market Demand = 18 million, XYZ's Market Share 12%, Average Selling Price = $15: $32.4 million $30 million. $22.5 million O $27 millionGDP Growth in % Bivariate Fit of GDP Growth in % By Year 4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 O r = 0.75 Or= .9 Or=0 2000 Or=-0.75 2005 ● 2010 Estimate the value of r based on the given scatterplot. Year 2015 2020
- Suppose a firm has had the following historic sales figures. What would be the forecast for next year's sales using the average approach? You must use the built-in Excel function to answer this question. Input area: Year Sales 2016 2017 2018 es es e $ 1,500,000 $ 1,750,000 $ 1,400,000 2019 $ 2,000,000 2020 $ 1,600,000 Output area: Next year's salesForecast the next year Income Statement using the base year and growth rates. Use all formulas, not numbers. Sales Cost of Sales Gross Margin Operating Expenses R&D Operating Profit Interest Expense Income before taxes Income Taxes Net Income Base Year Forecast Growth rate 100 888898 50 50 20 10 20 4 16 4 12 20% 15% 15% 25% 100% 25% RATEThe aggregate expenditure for a simple economy in 2016 was $9 million. The table below shows spending data from 2017- 2019 for the same economy. What is the average annual growth rate in aggregate expenditure during this time period? 2017 2018 2019 Consumption $5,100,000 $5,200,000 $1,980,000 $400,000 Gov't Spending on Goods/Services $2,500,000 $2,370,000 $600,000 $2,400,000 $5,000,000 $2,120,000 $500,000 $2,500,000 $500,000 Actual Investment Unplanned Investment $300,000 $400,000 Gov't Spending on Transfer Payments Total Exports Total Imports $2,000,000 $2,200,000 $800,000 $2,300,000 $700,000 $900,000 Select one: O a. 7.44% O b. -4.81% O c. I'll take 2 Points O d. 3.87% O e. 5.63% O f. 7.35% O g. 4.22% O h. 1.49%