Given the following information: Revenue from Operations 3,40,000 Cost of Revenue from Operations 1,20,000 Selling expenses 80,000 Administrative Expenses 40,000 Calculate Gross profit ratio and Operating ratio.
Q: If Net sales $200,000, Cost of goods sold 90,000, Operating expenses 80,000, Net income10,000, Total…
A: Operating Income = Net Sales - Cost of goods sold - Operating expenses = $200,000 - $90,000 -…
Q: Ultimo Company operates three production departments as profit centers. The following Information is…
A: Overhead are those costs that cannot be directly attributed to a unit of product.theae can be…
Q: Required information [The following information applies to the questions displayed below.) Suresh…
A: While taking a decision as to elimination of a department/ Segment, Revenue of each segment is to be…
Q: 1. Using the data below for Ace Guitar Company: Region A Region B Sales $571,500…
A: Answer Sheet: Formula Sheet:
Q: Required information [The following information applies to the questions displayed below.] O'Brien…
A: VARIABLE COSTING Variable Costing is a Cost Managerial Accounting Method in Which all Variable Cost…
Q: Given that the cost of goods completed was $57 000, sales $80 000, finished goods at start $3 200…
A: Gross profit = Sales - (Beginning finished goods + cost of goods completed - Ending finished goods)…
Q: Total $ 260,400 159,600 Per Unit $ 31.00 19.00 Sales (8,400 units) Variable expenses Contribution…
A: Formula: Net income = Revenues - Expenses.
Q: Jemmott Corporation has two divisions: Western Division and Eastern Division. The following report…
A: Break even point:— It is the point of production where total cost is equal to total revenue. At this…
Q: Assume a company with two divisions (A and B) prepared the following segmented income statement:…
A: Segment margin of A can be calculated by deducting segment margin of B from total margin.
Q: > Compute the missing items in the following. Show your complete solutions at the back of this paper…
A: Solution.. Cost of sales = 20% of sales Sales = cost of sales ÷ 20% = $62,500 ÷ 20% = $312,500…
Q: Using the data below for Ace Guitar Company: Region A Region B Sales $500,000…
A: The income statement is one of the essential parts of the financial statement used for reporting the…
Q: Warwick, Inc. has two divisions as shown in the segmented income statement below. Segmented Income…
A: Financial statements are prepared in order to review and analyse profitability and financial…
Q: Provide the missing data in the following tabulation: Division Alpha Bravo Charlie Revenue…
A: Answer:- Operating profit meaning:- Operating profit is basically the sum of money that remains…
Q: The following operating income data about the performance of the two product lines: Sales revenue.…
A: In this question, the term "GREEN savings" refers to possible cost savings through the use of…
Q: The following data are available for Segment X of XYZ Company: Net income of the segment $50,000…
A: Income or Financial performance: Using financial performance as a subjective indicator, we can…
Q: Bogs company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit…
A: Gross Profit = Sales Revenue x Gross Profit Margin Cost of Goods Sold = Sales - Gross Profit
Q: Need Help
A: Gross Profit=Sales Revenues−Cost of Goods Sold.Given:Sales Revenues = $450,000.Cost of Goods Sold =…
Q: During Heaton Company's first two years of operations, it reported absorption costing net operating…
A: ABSORPTION COSTINGAbsorption Costing is a Cost Management Accounting method in which all costs…
Q: Suresh Company reports the following segment (department) income results for the year. Department M…
A: Avoidable costs are those costs that can be avoided by eliminating the department or by shuting down…
Q: What are total amount of operating expenses? Refer to the Income Statement shown. The data was taken…
A: Operating expenses are costs related to a company's daily operations of the business. These costs…
Q: How much will operating profits increase if Jasmine accepts the
A: While deciding whether to accept an order or not, fixed costs are ignored as they are to be incurred…
Q: [The following information applies to the questions displayed below.] Suresh Company reports the…
A: Answer:- Segment income statement:- An income statement including segments such as product line,…
Q: Sales Cost of goods sold Gross profit $175,000 105,000 $70,000 Prepare a vertical analysis of the…
A: The vertical analysis of income statement is performed as comparing all the elements of the income…
Q: Assume the following information for a product line: Sales $700,000 Variable cost of goods sold…
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: ,000 $ 39,000 $ 70,000 $ 56,000 $ 38,000 $ 280,000 Expenses Avoidable 14,800 42,400…
A: Net Income - Net income is the remaining amount after costs of products sold and other expenses have…
Q: What is the Markup? Price Cost Markup $40.00 $30.00
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: During Heaton Company's first two years of operations, It reported absorption costing net operating…
A: Variable costing: This is a technique it is assumed that only variable cost as product cost.…
Q: During Heaton Company's first two years of operations, it reported absorption costing net operating…
A: The Absorption Costing Method is a method of determination of the total product cost of the goods…
Q: Using the data below for Ace Guitar Company: Region A Region B Sales $753,500 $616,500…
A: Income is the excess of sales over expenses. In the case of income, sales revenues are always more…
Q: The following data are available for the Firempong Corporation for a recent month: Product 1 Product…
A: Break-even point = Fixed costs /Weighted Average Contribution margin per unit where, Contribution…
Q: Sims Company began operations on January 1. Its cost and sales information for this year follow. $…
A: The contribution margin is calculated as the difference between sales and variable costs.The gross…
Q: Financial information is presented below: Operating expenses $ 40,000 Sales revenue 200,000 Cost of…
A: Gross Profit: Difference between the sales and the cost of goods sold is called Gross Profit.
Q: 4. Compute gross profit earned by the company for each of the four costing methods. (Round your…
A: In accounting, the Weighted Average Cost (WAC) method of inventory valuation uses a weighted average…
Q: Shown here is an income statement in the traditional format for a firm with a sales volume of 8,000…
A: "Contribution margin tells you the aggregate amount of revenue available after variable costs to…
Q: Assume a company reported the following results: Sales Variable expenses Contribution margin Fixed…
A: MARGINMargin is the Ratio between Net Operating Income & Sales Revenue During the Period.Margin…
Q: How much are Sales if Cost of Sales is $46,500, Cost of Labor is $33,247, the fixed costs are…
A: Contribution margin = Fixed cost + profit = $65883 + $2129 =$68012
Q: Bett Inc. has the following 8 units A-H Description A B Assets 50 70 Revenue Profit Units 7 C 40 650…
A: A entity should report all the segments which has at least 10℅ of revenue, or 10℅ of profit or…
Q: Use the information in the following table to compute each department's contribution to overhead…
A: Overhead: Overhead refers to the business expenses which are not directly related to the production…
Q: During Heaton Company's first two years of operations, It reported absorption costing net operating…
A: The income statement can be prepared using various methods as variable costing and absorption…
Q: 1. What amount will be allocated by S1 to S2 under direct method? __________2. What amount will be…
A: Since there are multiple questions, we will answer only first three subparts. If you want remaining…
Q: 6. Chung-Ang Company has two department. The company's most recent monthly contribution format…
A: Sunk Cost :— It is the cost that is already incurred in past and it is now irrecoverable.…
Q: Question: Vertical Analysis of the Income statement Company A Company B Net sales…
A:
Q: Multi step statement of comprehensive income using the following Sales 20 000 Cost of Good Sold…
A: Multi Step statement of comprehensive income shows all incomes and expenses of the business in…
Q: The dollar sales required for the company to break even is closest to:
A:
Q: The KC Services Company has the following data: Sales revenue $645 Managers salary $60 other sales…
A: As per cost accounting Gross margin is arrived by reducing operating expenses a d other expenses…
Given the following information:
Revenue from Operations 3,40,000
Cost of Revenue from Operations 1,20,000
Selling expenses 80,000
Administrative Expenses 40,000
Calculate Gross profit ratio and Operating ratio.
Step by step
Solved in 2 steps
- Express the total costs, net profit (NP) in money and as a percentage in the table below. Sales Food Costs Labor Costs Overheads Total Costs Net Profit Net Profit percent $140.55 $40.99 $50.50 $23.34 $175.98 $55.45 $61.25 $34.00 $268.94 $81.38 $90.45 $74.88 $555.65 $120.00 $155.98 $111.54 $1010.80 $300.70 $240.54 $230.78Question 7 - HW 1 (Chapter 2) ezto.mheducation.com xtmap/index.html?_con=c ernal browser=081aunchUr=https253A232252E Saved Required information (The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 50,000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 Durjng 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material Indirect labor Depreciation on plant and equipment Utilities 12,000 26,000 100,000 26,000 30, 000 Other Sales revenue was $1,110,000 for the year. Selling and administrative expenses for the year amounted to $110.000, The firm's tax rate is 40 percent. 3. Prepare an income statement. Prisc Insert F8 F10 F11 F12 F9 24 & 4. 7 8. 105. Calculate the direct material from the following information: Direct expenses RO 90,000, Direct labor RO 20,000, manufacturing overheads RO 30,000 and prime cost RO 170,000. a.RO 21,000 b.RO18,000 c.RO 60,000 d.RO 20,000 6. Which of the following are used for calculating economic order frequency? i. Total annual consumption ii. No of order per year iii. Buying cost per order iv. 365 days a.i and ii b.ii and iv c.iii and iv d.i and iv
- Sales Cost of goods sold Gross profit Expenses: $186,000,000 (102,000,000) $84,000,000 Selling expenses $16,000,000 Administrative expenses 5,200,000 Total expenses (21,200,000) Operating income $62,800,000 The division of costs between variable and fixed is as follows: Cost of goods sold Selling expenses Administrative expenses Variable Fixed 70% 30% 75% 25% 50% 50% Management is considering a plant expansion program for the following year that will permit an increase of $11,160,000 in yearly sales. The expansion will increase fixed costs by $3,000,000 but will not affect the relationship between sales and variable costs. Required: 1. Determine the total variable costs and the total fixed costs for the current year. Total variable costs Total fixed costs 86,000,000 ✓ 37,700,000 X 2. Determine (a) the unit variable cost and (b) the unit contribution margin for the current year. Unit variable cost Unit contribution margin 86 V ✓ 100 3. Compute the break-even sales (units) for the…The following data were adapted from a recent income statement of Procter & Gamble Company: 1 (in millions) 2 Sales $86,218.00 3 Operating costs: 4 Cost of products sold $43,226.00 5 Marketing, administrative, and other expenses 30,484.00 6 Total operating costs $73,710.00 7 Income from operations $12,508.00 Assume that the variable amount of each category of operating costs is as follows: 1 (in millions) 2 Cost of products sold $23,790.00 3 Marketing, administrative, and other expenses 12,205.00 Required: a. Based on the data given, prepare a variable costing income statement for Procter & Gamble Company, assuming that the company maintained constant inventory levels during the period. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. A colon (:) will automatically appear if it is…A corporation has two major business segments--A and B. The following information is given for each division for March. Revenue Variable expenses Traceable fixed expenses Allocated common expenses O $50,000. $60,000. A properly constructed segmented income statement in a contribution format would show that the segment margin of the B business segment is: $106,000. A $690,000 352,000 O $(13,000). 104,000 89,000 B $140,000 34,000 46,000 73,000
- Below is the common-sized statement for the current calendar year fo Hugo Boss and Industry average, Industry Hugo Boss Average Sales 100% 100% Cost of Goods Sold 46.7% 45.2% Gross Profit 53.3% 54.8% Selling Expenses 12.9% 16.7% Administrative Expenses 13.1% 14.5% Total Operating Expenses 25.0% 31.2% Income from Operations 27.3% 23.6% Other Revenue 1.8% 1.2% 29.% 24.8% Other Expense(Interest) 1.0 0.9 Income Before Income Tax 28.1% 23.9% Income Tax Expense 9.8 8.4 Net Income 18.3% 15.5% Using the common-sized statement above, compare Hugo Boss with the industry average and identify strengths and weaknesses that Hugo Boss has to the industry. Does Hugo Boss need any course correction. What does it need?ROI and Margin Arbus Company provided the following information: Turnover 1.3 Operating assets $106,000 Operating income 6,620 Required: 1. What is ROI? (Round your answer to three decimals.) 0.062 ✓ 2. What is margin? (Round your answer to two decimals.) X FeedbackDuring Heaton Company's first two years of operations, it reported absorption costing net operating income as follws: Year 2 Sales (e $64 per unit) Cost of goods sold (e $37 per unit) Gross margin Selling and administrative expenses Year 1 $ 1,152, 000 $ 1,792, 000 666, 000 486, 000 301, 000 $ 185, 000 1,836, 000 756, 000 331, 000 $ 425, 000 Net operating incone •$3 per unit varlable, $247,000 fixed each year. The company's $37 unit product cost is computed as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufactüring overhead ($391, 00e + 23, 000 units) $ 6 10 4. 17 $ 37 Absorption costing unit product cost Production and cost data for the first two years of operations are: Units produced Units sold Year 1 23, 000 18, 000 Year 2 23, 000 28, 000 Required: 1. Using variable costing, what is the unit product cost for both years? 2. What is the variable costing net operating income in Year 1 and in Year 2? 3. Reconcile the absorption costing and the…
- Required information [The following information applies to the questions displayed below.] Suresh Company reports the following segment (department) income results for the year. Sales Department M $ 68,000 Department N $ 38,000 Department 0 $ 65,000 Department P $ 47,000 Department T $ 33,000 Total $ 251,000 Expenses Avoidable 12,300 Unavoidable Total expenses Income (loss) 53,800 66,100 39,400 15,600 55,000 23,900 4,700 28,600 16,500 36,400 42,300 13,300 134,400 123,800 52,900 55,600 258,200 $ 1,900 $ (17,000) $ 36,400 $ (5,900) $ (22,600) $ (7,200) b. Compute the total increase in income if the departments with sales less than avoidable costs, as identified in part a, are eliminated. Total increase in income $ 3,700Shown here is an income statement in the traditional format for a firm with a sales volume of 17,500 units: Revenues $ 175,500 Cost of goods sold ($11,500 + $2.95/unit) 69,025 Gross profit $ 106,475 Operating expenses: Selling ($2,000 + $1.20/unit) 25,400 Administration ($5,250 + $0.45/unit) 14,025 Operating income $ 67,050 Required: a. Prepare an income statement in the contribution margin format. Contribution Margin Income Statement Variable expenses: Total variable expenses 0 0 Fixed expenses: Total fixed expenses 0 $0 b. Calculate the contribution margin per unit and the contribution margin ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places.) c|. Calculate the firm's operating income (or loss) if the volume changed from 19,500 units to 1. 24,500 units. 2. 11,500 units. d. Refer to your answer to part a when total revenues were $175,500. Calculate the firm's operating income (or loss) if unit selling price and variable expense…Given the following information, what is the contribution margin ratio? Sales Variable expenses Fixed Expenses Net Income 44% 33% 23% 56% $828000 364320 276000 $187680