Optimus Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center. Operating data for the Home Division for the year ended December 31, 2020, and relevant budget data are as follows. Actual Comparison with Budget Sales $1,400,000 $100,000 favorable Variable cost of goods sold 680,000 56,000 unfavorable Variable selling and administrative expenses 124,000 24,000 unfavorable Controllable fixed cost of goods sold 169,000 On target Controllable fixed selling and administrative expenses 83,000 On target Average operating assets for the year for the Home Division were $2,000,000 which was also the budgeted amount. Prepare a responsibility report for the Home Division. (List variable costs before fixed costs. Round ROI to 2 decimal places, e.g. 1.57% .) OPTIMUS COMPANY Home Division Responsibility Report For the Year Ended December 31, 2020

Optimus Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center. Operating data for the Home Division for the year ended December 31, 2020, and relevant budget data are as follows. Actual Comparison with Budget Sales $1,400,000 $100,000 favorable Variable cost of goods sold 680,000 56,000 unfavorable Variable selling and administrative expenses 124,000 24,000 unfavorable Controllable fixed cost of goods sold 169,000 On target Controllable fixed selling and administrative expenses 83,000 On target Average operating assets for the year for the Home Division were $2,000,000 which was also the budgeted amount. Prepare a responsibility report for the Home Division. (List variable costs before fixed costs. Round ROI to 2 decimal places, e.g. 1.57% .) OPTIMUS COMPANY Home Division Responsibility Report For the Year Ended December 31, 2020

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Rooney Company produces two products. Budgeted annual income statements for the two products are provided as follows. Power Lite Total Budgeted Per Budgeted Budgeted Per Budgeted Budgeted Budgeted Number Unit Amount Number Unit Amount Number Amount @ $ 700 @ 380 $ 319,200 (168,000) 151,200 $ 487,200 (259,200) 228,000 (114,000) $ 114,000 Sales 240 $168,000 560 @ $ 570 800 Variable cost (91,200) 76,800 |(19,000) $ 57,800 240 560 @ 300 = 800 %3D Contribution margin 240 320 560 @ 270 800 Fixed cost (95,000) Net income $ 56,200 Required: a. Based on budgeted sales, determine the relative sales mix between the two products. b. Determine the weighted-average contribution margin per unit. c. Calculate the break-even point in total number of units. d. Determine the number of units of each product e. Verify the break-even point by preparing an income statement for each product as well as an income statement for the combined products. f. Determine the margin of safety based on the combined sales…
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Required information Eckert Company uses the absorption costing approach to cost plus pricing to set prices for its products. Based on budgeted sales of 18.000 units next year, the unit product cost of a particular product is $60.40. The company's selling general, and administrative expenses for this product are budgeted to be $370.800 in total for the year. The company has invested $260.000 in this product and expects a return on investment of T (Appendix 12A) The markup on absorption cost for this product would be closest to which of the following O O O M4T 36.74 ALIK HON 3 Save & Submit
For the year ending December 31, 2020, Cobb Company accumulates the following data for the Plastics Division which it operates as an investment center: contribution margin-$742,800 budget, $759,800 actual; controllable fixed costs-$298,400 budget, $305,300 actual. Average operating assets for the year were $2,020,000. Prepare a responsibility report for the Plastics Division beginning with contribution margin for the year ending December 31, 2020. (Round ROI to 1 decimal place, e.g. 1.5%.) COBB COMPANY Plastics Division Responsibility Report For the Year Ended December 31, 2020
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Question 4: Dhofar Company manufactures two products M1 and Z1. Its sales department has three divisions: Salalah, Raysut and Mirbat. Initial estimates for the sales budgets for the year ending 31 December 2021 which are based on the assessments of the divisional executives are as follows; Product M1 : Salalah 45,000 units: Raysut 110,000 units and Mirbat: 25,000 units Product Z1: Salalah 70,000 units: Raysut 82,000 units and Mirbat:0 Sales Prices: M1: 3 OMR and Z1= 4 OMR in all areas. Arrangements are made for the extensive advertising of product M1 and Z1 and it is estimated that Salalah division sales will increase by 30,000 units. Arrangements are also made to advertise and distribute product z1 in the Mirbat area in the second half of 2021 when sales are expected to be 100,000 units. Since the estimated sales of the Raysut division represented an unsatisfactory target, it is agreed to increase both the estimates by 15 %. Prepare a sales budget for the year to 31…