Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. Pretax income ? Gross profit ? Allocated costs (uncontrollable) $2,040 Labor expense 41,570 Sales 188,000 Research and development (uncontrollable) 315 Depreciation expense 18,000 Net income/(loss) Cost of goods sold 118,440 Selling expense 1,250 Total expenses ? Marketing costs (uncontrollable) 780 Administrative expense 690 Income tax expense (21% of pretax income) ? Other expenses 320 A. Prepare the income statement to include all costs, but separate out uncontrollable costs using the above information. Round your answers to the nearest dollar. BDS Enterprises Income Statement For the Year Ended December 31, 20xx Controllable Expenses: Total Controllable Expenses Uncontrollable Expenses: Total Uncontrollable Expenses $4 Total Expenses

Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. Pretax income ? Gross profit ? Allocated costs (uncontrollable) $2,040 Labor expense 41,570 Sales 188,000 Research and development (uncontrollable) 315 Depreciation expense 18,000 Net income/(loss) Cost of goods sold 118,440 Selling expense 1,250 Total expenses ? Marketing costs (uncontrollable) 780 Administrative expense 690 Income tax expense (21% of pretax income) ? Other expenses 320 A. Prepare the income statement to include all costs, but separate out uncontrollable costs using the above information. Round your answers to the nearest dollar. BDS Enterprises Income Statement For the Year Ended December 31, 20xx Controllable Expenses: Total Controllable Expenses Uncontrollable Expenses: Total Uncontrollable Expenses $4 Total Expenses

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. Pretax income? Gross profit? Allocated costs (uncontrollable) $2,035 Labor expense 41,580 Sales 188,000 Research and development (uncontrollable) 310 Depreciation expense17,000 Net income/(loss) ? Cost of goods sold 118,440 Selling expense 1,240 Total expenses ? Marketing costs (uncontrollable) 800 Administrative expense 690 Income tax expense (21% of pretax income) ? Other expenses 310
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The following data are taken from the management accounting reports of Dulcimer Co.: Div. A Div. B Div. C Income from operations $1,900,000 $1,450,000 $1,450,000 Total service department charges 1,700,000 1,050,000 1,100,000 If an incentive bonus is paid to the manager who achieved the highest income from operations before service department charges, it follows that a. Divisions B and C's managers divide the bonus b. Division B's manager is given the bonus c. Division A's manager is given the bonus d. Division C's manager is given the bonus When management seeks to achieve personal departmental objectives that may work to the detriment of the entire company, the manager is experiencing a. budgetary slack b. cushions c. padding d. goal conflict The Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are listed below. Product Number ofUnits Labor…
The following information is given to you from which you are required to prepare a Statement of Cost and Sales for the period ended on 30th June 2023:Consumable material: KOpening stock 20,000Purchases 122,000Closing stock 10,000Direct wages 36,000Direct Expenses 24,000Factory overheads 50 % of direct wagesOffice and administration overheads 20% of works costSelling and distribution expenses K3 per unit soldUnits of finished goods:In hand at the beginning of the period (Value K12,500) 500Units produced during the period 12,000In hand at the end of the period 1,500Profit on selling price 20% There is no work-in-progress either at the beginning or at the end of the period.
A condensed income statement for the Electronics Division of Gihbli Industries Inc. for the year ended December 31 is as follows: Sales $3,920,000 Cost of goods sold 2,625,200 Gross profit $ 1,294,800 Operating expenses 746,000 Income from operations $ 548,800 Invested assets $2,800,000 Assume that the Electronics Division received no charges from service departments. The president of Gihbli Industries Inc. has indicated that the division’s return on a $2,800,000 investment must be increased to at least 22.4% by the end of the next year if operations are to continue. The division manager is considering the following three proposals: Proposal 1: Transfer equipment with a book value of $560,000 to other divisions at no gain or loss and lease similar equipment. The annual lease payments would be less than the amount of depreciation expense on the old equipment by $100,800. This decrease in expense would be included as part of the cost of goods sold. Sales would remain…
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Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $800,000 100 % Cost of goods sold 512,000 70 Gross profit $288,000 30 % Selling expenses $176,000 17 % Administrative expenses 64,000 7 Total operating expenses $240,000 24 % Operating income $48,000 6 % Other revenue 16,000 2 $64,000 8 % Other expense 8,000 1 Income before income tax $56,000 7 % Income tax expense 24,000 5 Net income $32,000 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive numbers.
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