Provide answer please general accounting The boot department of the Great Western Outfitters store is preparing to setsales goals for the upcoming year. Sally Brown, the department manager, istrying to determine what brands of boots to retain as part of the salesinventory. In particular, she is wondering about the value of continuing to sellDurango Boots. Going through past records, she retrieves the followinginformation about the sales of Durango boots and asks you to help her withsome calculations:Total Sales (1,000 pairs of boots) $500,000Variable CostsFixed CostsTax Rate$300,000$150,00025%Compute the Contribution Margin (CM), unit CM, and CM ratio.

Step 1: Define Contribution MarginContribution margin is a concept used more in cost accounting than…

Answered: The boot department of the Great…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 2A: You are the bookkeeper at a small merchandising firm. You are comparing the income statements from...

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Having gone through the principles II class, imagine you are an intern at Floro agro florists and its end year. The Warehouse Manager is overwhelmed with work and realizes that you can just be the perfect person to help him with inventory-related issues after he realizes a glitch in some year's records. The information for the years in question has been provided as follows; 2018 2019 2020 Current Assets = 1,000 1,250 1,750 Non-Current Assets = 5,000 6,250 8,750 Total Assets = 6,000 7,500 10,500 Long term Liabilities = 2,000 2,500 3,500 Revenue = 1,000 1,250 1,750 Cost of Sales 40% on cost for all the Years Assume that ending Inventory was overstated by K1, 500 in 2018 and Understated by K10, 000 ends of 2019. Required a. Calculate the Cost of goods sold for the years 2018, 2019, and 2020 b. Calculate the Owners Equity value for the…
Can I please get assistance with D. It has two parts: i) What is the cost minimizing solution for this product each year? ii) Determine the re-order level, minimum inventory level and maximum inventory level for the product.
Need help with this accounting question please solve this one
Address the question in the picture.
Please help me to solve this question
Lizzys is a retail clothing store, specializing in formal wear for weddings. They purchase their clothing for resale from specialty distributors and manufacturers. Recently the owners of Lizzys have noted an increased interest in costume jewelry and fashion accessories among their clientele. If the owners of Lizzys decide to expand their business to include these products, what cost data would they need to collect and analyze prior to expanding the business?
Using the information in the photo, how would I prepare Journal Entries for the December transactions?
You work for a firm of management consultants that offers assistance to new businesses. One of your clients is Blossom Manufacturing, a company that manufactures a small, but vital, component for the specialized lighting industry. Blossom is a new company (and a new client for your employer) and you have been assigned the task of advising it of its options for financing its inventory during the first few months. The marketing experts have told you that Blossom should have at least three months of inventory on hand so it can meet all demands from its customers. The annual production of the Blossom component is projected to be 140,400 units. Annual direct labour and direct material costs together are estimated at $351,000 per year. Variable manufacturing costs are estimated to be $210,600 per year; fixed manufacturing costs are projected to be $585,000 per year. Fixed marketing and administration costs are estimated at $819,000 per year. These projections are all for the company's first…
You are good friend jasmine hard you to help her make a sales forecast for her to start up business complete form and compute the yearly projected cells using the following information.
The owner of a small women’s fashion store is adding a line of casual clothing. Based on industryaverages for similar businesses, the following estimates have been made:Expenses 37.3%Cash Discounts 4.2%Shortages 2.4%Markdowns 8.4%Employee Discounts 2.4%Alteration Expenses 3.9%Profits 7.2%Using these estimates, calculate the initial markup percentage that is required
Hope you can answer this with the right format. Please provide a picture also so that i can understand. Thankyou!
Do not use EXCEL to type answers please write out answers and give explanations.

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