Question 2:TotalSales$3,599,100Cost of goods sold $1,619,156Gross Margin$1,979,944Other ExpensesSelling ExpensesAdmin ExpensesTotal OtherExpensesNet Profit (loss)$41,500$70,000O$111,500$1,868,444Department Departmenta$12,000$19,449b$31,449$370,951C.Department d?d. What is your net profit for the total organization?Department$1,000,000$678,000$921,000$1,000,100$597,600.0 $224,100.0 $382,311.0 $415,145.0$402,400$453,900$538,689$584,955$8,000$13,187$21,187C$9,000$17,913a. Using full cost analysis, what is the net profit or loss for Department b?b. Net profit or loss for Department c?$26,913Departmentd$12,500$19,451$31,951

You must evaluate the gross margin and remove the total other expenditures for each department to…

Question 2: Total Sales $3,599,100 Cost of goods sold $1,619,156 Gross Margin $1,979,944 Other Expenses Selling Expenses Admin Expenses Total Other Expenses Net Profit (loss) $41,500 $70,000 $111,500 $1,868,444 Department Department a $1,000,000 $597,600.0 $402,400 $12,000 $19,449 $31,449 $370,951 b Department $8,000 $13,187 $21,187 с Department $678,000 $921,000 $1,000,100 $224,100.0 $382,311.0 $415,145.0 $453,900 $538,689 $584,955 $9,000 $17,913 $26,913 d $12,500 $19,451 $31,951

Question 2: Total Sales $3,599,100 Cost of goods sold $1,619,156 Gross Margin $1,979,944 Other Expenses Selling Expenses Admin Expenses Total Other Expenses Net Profit (loss) $41,500 $70,000 $111,500 $1,868,444 Department Department a $1,000,000 $597,600.0 $402,400 $12,000 $19,449 $31,449 $370,951 b Department $8,000 $13,187 $21,187 с Department $678,000 $921,000 $1,000,100 $224,100.0 $382,311.0 $415,145.0 $453,900 $538,689 $584,955 $9,000 $17,913 $26,913 d $12,500 $19,451 $31,951

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

question
Dept. M $79,000 Dept. O $72,000 Dept. P $60,000 Dept. N Dept. T Total Sales $ 41,000 $ 40,000 $ 292,000 Expenses Avoidable 15,800 56,600 43,600 19,800 20,000 5,400 20,000 46,600 48,600 18, 200 148,000 146,600 Unavoidable Total expenses 72,400 $ 6,600 25,400 $46,600 63,400 66,600 66,800 294,600 Net income (loss) $(22,400) $(6,600) $(26,800) $ (2,600) Recompute and prepare the departmental income statements (including a combined total column) for the company under each of the following separate scenarios. Exercise 25-9 Part 2 2) Management eliminates departments with sales dollars that are less than avoidable expenses. DEPARTMENTS WITH LESS SALES THAN AVOIDABLE EXPENSES ELIMINATED Dept. M Dept. N Dept. O Dept. P Dept. T Total Sales $ Expenses: Avoidable Unavoidable Total expenses Net income (loss) $ $ $ $ $ $
SERVICE REVMENUE $ 281,000 120,000 161,000 Sales revenue, net Cost of goods sold Gross profit OPERATING EXPENSES Selling expenses Wages expense - selling Fuel expense- selling Depreciation expense - selling Total selling expenses General and administrative expenses 15,000 20,000 45,000 80,000 Rent expense - administrative Office supplies expense - administrative 12,000 15,000 27,000 107,000 54,000 Total general and administrative expenses Total operating expenses Total income from operations OTHER EXPENSES Interest expense 2,000 52,000 13,000 %24 Total incorme before tax Incorme tax expense Net income 39,000 Eamings Per Share (EPS) 24 0.65 What is Carson's Bakery net profit margin? O 13.87% O 57.29% O 38.07% O 33.54%
Andiysis 877 Stargel Inc. Comparative Income Statement Ser the Years Ended December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Sales $10,000,000 $9,400,000 Cost of goods sold. Gross profit Selling expenses Administrative expenses. 5,350,000 $ 4,650,000 $ 2,000,000 4,950,000 $4,450,000 $1,880,000 Total operating expenses Income from operations 1,500,000 $ 3,500,000 $ 1,150,000 1,410,000 $3,290,000 $1,160,000 Other revenue 150,000 140,000 $ 1,300,000 $1,300,000 Other expense (interest) Income before income tax 170,000 150,000 $ 1,130,000 $1,150,000 Income tax expense 230,000 225,000 Net income $ 900,000 $ 925,000 Stargel Inc. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Assets Current assets: Cash $ 500,000 $ 400,000 Marketable securities. 1,010,000 1,000,000 Accounts receivable (net). 740,000 510,000 Inventories 1,190,000 950,000 Prepaid expenses 250,000 229,000 Total current assets. $3,690,000 $3,089,000 Long-term investments. Property, plant, and equipment (net) Total assets…
22 Calculate the missing amounts. a b d e Net sales Cost of goods sold Gross profit from sales Operating expenses Profit (loss) $ 208,800 $ 165,000 $ 73,800 41,600 303,000 205,600 108,200 75,200 91,600 93,000 106,000 (31,000) (5,900) 57,000 (28,400)
Sales revenue $350,000 Accounts receivable $280,000 Ending inventory $230,000 Cost of goods sold $180,000 Sales returns $50,000 Sales discount $20,000 What is the gross profit? numeric response:????????
ElectrohicS Tannenhill Industry Company Average Sales $1,510,000 100 % Cost of goods sold 921,100 67 Gross profit $588,900 33 % Selling expenses $362,400 19 % Administrative expenses 135,900 8. Total operating expenses $498,300 27 % Operating income $90,600 6 % Other revenue 30,200 2 $120,800 8 % Other expense 15,100 1 Income before income tax $105,700 7 % Income tax expense 45,300 5 Net income $60,400 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. Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Tannenhill Tannenhill Electronics Company Company Industry Amount Percent Average Sales $1,510,000 % 100.0% Cost of goods sold 921,100 % 67% Gross profit $588,900 % 33% Selling expenses $362,400 % 19% Administrative expenses 135,900 % 8% Total operating expenses $498,300 % 27% Income from…
ABC Company Income Statement Period Ending 31-Dec-15 31-Dec-14 31-Dec-13 Total Sales $485,651,000 $476,294,000 $475,210,000 Cost of Goods Sold 365,086,000 358,069,000 350,400,000 Gross Profit 120,565,000 118,225,000 124,810,000 Selling Generall and Adminstrative 93,418,000 91,353,000 90,343,000 Operating Profit 27,147,000 26,872,000 34,467,000 Total Other Income/Expenses Net 113,000 119,000 115,000 Earnings before Interest and Taxes 27,034,000 26,753,000 34,352,000 Interest Expense 2,461,000 2,335,000 2,200,000 Income Before Tax 24,573,000 24,418,000 32,152,000 Income Tax Expense 7,985,000 8,105,000 9,800,000 Net Income from Continuing Ops 16,588,000…
Question :8 A A company has net sales of $125,000, cost of goods sold of $50,000, operating expenses of $35,000, and selling expenses of $11,000. What is the gross profit? A. $75,000 B. $40,000 C. $29,000 D. $50,000
A B C D E Sales revenue $40,400 $75,400 $573,700 $34,800 $54,100 Cost of goods sold 19,200 50,500 273,600 19,400 30,500 Operating expenses 9,800 39,800 230,700 11,800 17,900 Total expenses 29,000 90,300 504,300 31,200 48,400 Operating profit (loss) $11,400 $(14,900) $69,400 $3,600 $5,700 Identifiable assets $34,500 $80,000 $501,100 $64,700 $50,400 Sales of segments B and C included intersegment sales of $20,000 and $101,000, respectively. (a) Determine which of the segments are reportable based on the: 1. Revenue test. 2 Operating profit (loss) test. 3. Identifiable assets test. Reportable Segment
Sales $ 150,000 $ 550,000 $ 38,700 $ 255,700 Sales discounts 5,000 17,500 600 4,800 Sales returns and allowances 20,000 6,000 5,100 900 Cost of goods sold 79,750 329,589 24,453 126,500 Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i.e.; 0.2367 should be entered as 23.7%.) Company columns from above. A. Carrier B. Lennox C. Trane D. York Net sales Gross profits Gross margin ratio
This is part a and b please answer both