Swifty Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are asfollows.(a)Compute the missing amounts.OperatingWomen's ShoesMen's ShoesChildren's ShoesDataContribution$329,4002$(3)$219,600marginControllablefixed costs122,000(4)(5)Controllable(1)109,800115,900marginSales732,000549,000(6)Variable costs(2)390,400305,000 Prepare a responsibility report for the Women's Shoes Division assuming (1) the data are for the month ended June 30, 2022, and(2) all data equal budget except variable costs which are $6,100 over budget.SWIFTY INC.Women's Shoe DivisionResponsibility ReportDifferenceFavorableUnfavorableNeither FavorableBudgetActualnor Unfavorable$$2424

Swifty Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. (a) Compute the missing amounts. Operating Women's Shoes Men's Shoes Children's Shoes Data Contribution $329,400 2$ (3) $219,600 margin Controllable fixed costs 122,000 (4) (5) Controllable (1) 109,800 115,900 margin

Swifty Inc. has three divisions which are operated as profit centers. Actual operating data for the divisions listed alphabetically are as follows. (a) Compute the missing amounts. Operating Women's Shoes Men's Shoes Children's Shoes Data Contribution $329,400 2$ (3) $219,600 margin Controllable fixed costs 122,000 (4) (5) Controllable (1) 109,800 115,900 margin

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

The following partial financial information (in thousands of dollars) is available for Thole, Incorporated: Corporate overhead costs at Thole are allocated to divisions based on relative sales. Required: a. Complete the income statements for both divisions and the corporation as a whole. Note: Enter your answers in thousands. Enter all values as positive value. Round your answers to 1 decimal place. Sales Cost of sales Gross margin Selling, General and Administrative Allocated corporate costs Operating income Tax expense (@20%) After-tax income Gross margin percentage Operating margin Profit margin Pacific 20.0 (Thousands of Dollars) Southern 40.00 % 20.00 % 16.00 % 50.00 % 36.00 % 28.80 % $ Total 100.0 984.0 48.00 % 32.80 % 26.24 %
Po.3.
Buckley Company operates three segments. Income statements for the segments imply that profitability could be improved if Segment A were eliminated. BUCKLEY COMPANY Income Statements for Year 2 Segment A B C Sales $ 330,000 $ 480,000 $ 500,000 Cost of goods sold (242,000 ) (184,000 ) (190,000 ) Sales commissions (30,000 ) (44,000 ) (44,000 ) Contribution margin 58,000 252,000 266,000 General fixed operating expenses (allocation of president’s salary) (92,000 ) (92,000 ) (92,000 ) Advertising expense (specific to individual divisions) (6,000 ) (20,000 ) 0 Net income (loss) $ (40,000 ) $ 140,000 $ 174,000 Required Prepare a schedule of relevant sales and costs for Segment A. Prepare comparative income statements for the company as a whole under two alternatives: (1) the retention of Segment A and (2) the elimination of Segment A. Options for required A table are: Advertising…
Problem 1-42 (Algo) Cost Data for Managerial Purposes (LO 1-3) Durham Parts (DP) makes a variety of products. It is organized in two divisions, Eastern and Western. The managers for each division are paid, in part, based on the financial performance of their divisions. The Western Division normally sells to outside customers but, on occasion, also sells to the Eastern Division. When it does, corporate policy states that the price must be cost plus 25 percent to ensure a "fair" return to the selling division. Western received an order from Eastern for 1,200 units. Western's planned output for the year had been 4,800 units before Eastern's order. Western's capacity is 6,000 units per year. The costs for producing those 4,800 units follow. Materials Direct labor Other costs varying with output Fixed costs (do not vary with output) Totals Total $ 374,400 182,400 144,000 288,000 $ 988,800 Per Unit $ 78 38 30 68 $ 206 Required: a. If you are the manager of the Western Division, what unit…
Toxaway Company is a merchandiser that segments its business into two divisions-Commercial and Residential. The company's accounting intern was asked to prepare segmented income statements that the company's divisional managers could use to calculate their break-even points and make decisions. She took the prior month's companywide income statement and prepared the absorption format segmented income statement shown below: Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income. Total Company $ 885,000 572,300 312,700 276,000 $36,700 Commercial Residential $ 295,000 $ 590,000 418,900 153,400 141,600 171, 100 122,000 $ 19,600 154,000 $ 17,100 In preparing these statements, the intern determined that Toxaway's only variable selling and administrative expense is a 10% sales commission on all sales. The company's total fixed expenses include $73,500 of common fixed expenses that would continue to be incurred even if the Commercial or Residential…
Igloo corporation operates two stores A and B. the following relates to store B; Sales revenue 87,000 variable operating expenses 39,000 fixed expenses traceable to b and controllable by B 5,000 traceable to b and controllabe by others 22,000 The profit margin controllable by store B's manager os:
4
Low Carb Diet Supplement Inc. has two divisions. Division A has a profit of $133,000 on sales of $2,010,000. Division B is able to make only $25,600 on sales of $300,000. a. Compute the profit margins (return on sales) for each division. (Input your answers as a percent rounded to 2 decimal places.) Division A Division B Profit Margin b. Based on the profit margins (returns on sales), which division is superior? O Division A Division B
has a shoes and a shirts division. The company reported the following segmented Income statement for last month: Sales Variable expenses Contribution Margin Fixed Expenses Net operating Income (loss) Multiple Choice O O O Division Shoes Shirts $4,200,000 $3,000,000 $1,200,000 2.000.000 1.500.000 1,500,000 1.300.000 200,000 O The company predicts that $200,000 of the fixed expenses being charged to the Shirts Division are allocated costs that will continue even if the Shirts Division is eliminated. The elimination of the Shirts Division will additionally cause a 20% drop in Shoes Division sales. If the company shuts down its Shirts Division, by how much will the company's overall net operating income change? 2,200,000 2.200.000 Increase by $240,000 Decrease by $300,000 Total Decrease by $330,000 Increase by $330,000 0 500.000 700,000 900.000 (200,000)
Profit Margin, Investment Turnover, and return on investment The condensed income statement for the Consumer Products Division of Fargo Industries Inc. is as follows (assuming no service department charge Sales $936,000 Cost of goods sold 421,200
please avoid answer in image thanku