The profit (in millions of Rand) made by a company for two consecutive years, 2021 and 2022 per quarter isshown below.YEARQUARTERPROFIT (R 000 000)4QMACA2021Q1200Q2340XQ3360Q44002022Q1220Q2380YQ3410Q4The missing values X and Y, respectively, are:A. 325 and 335B. 330 and 346.25c. 365 and 325D. 325 and 365500

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Answered: The profit (in millions of Rand) made…

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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Omega Company has sales of $350,000 and cost of goods sold of $225,000. The cost of goods sold is a variable cost. The Company incurred $25,000 of fixed operating expenses and $45,000 of variable operating expenses. Based on this information a 10% increase in revenue will produce a Note: Round your intermediate calculation to 2 decimal places and final answer to one decimal. which aswer is correct? a. 13.8% change in net income b. 20.0% change in net income c. 27.5% change in net income d. 15.2% change in net income
Below is a major portion of the income statements of KTA Inc. for 2020 and 2021: Sales Cost of Sales Gross Margin 2020 P80,000 50,000 P30,000 2021 P97,200 72,000 P25,200 The firm sold its sole product for P8/unit during 2020. Even though the sales units increased by 20% during 2021, the gross margin declined. Disappointed with the results, the owner asked for your assistance in analyzing the cause of the gross margin decline. A. 1.25% B. (1.25%) Percentage increase (decrease) in sales price. C. (2.125%) D. 2.125%
Company XYZ made total sales of $250,000 during the month of December. The company also incurred total expenses of $210,000. Of that amount 60% was fixed expenses. Company XYZ expects sales to increase by 13% next month. What is the expected operating profit, in ($) value, next month? Select one: О а. 45,200 O b. 40,000 O c. None of the given answers O d. 166,000 О е. 61,580
If a business had sales of $3,814,000 and a margin of safety of 20%, the break-even point was Oa. $4,576,800 Ob. $762,800 Oc. $6,865,200 Od. $3,051,200
Blossom Corp. has annual sales totaling $1146000 and an average gross profit of 20% of cost. What is the dollar amount of the gross profit? $286500. $171900. $229200. $191000.
The following information relates to a company for two periods: year 1; profit- GH¢131250, sales- GH¢1375000; year 2; profit- 225000, sales- GH¢1750000. What is the margin of safety if profit is GH¢262000?
Or The cost and revenue information of India Company for the last year (2022) is provided below: Sales units - 200 units, Selling price per unit - 1500 dollars, Number of units produced 200 units, DM - $850 per unit, DL - $115 per unit. Var MOH- $20 per unit. Fixed MOH- $45,000, Var Selling and Adm Exp = $15 per unit, Fixed S&A Exp = $15.000, A.) Prepare CVP Income Statement. B.) Calculate BEP in Units and BEP in dollars. C.) What is the margin of safety ratio of India Co.? D.) Calculate the degree of operating leverage and explain what happens to NI if sales increase 10% and decrease 10%.
Sharp Co. has generated these data for the 2 most recent years where 2021 sales price was 10% lower than 2020: 2021 2020 Sales P1,944,000 Cost of Sales 1,152,000 Gross Profit P 792,000 P1,900,800 1,113,600 P787,200 Increase (decrease) in cost price must be C. (9.85%) D. 9.85% A. (8.97%) B. 8.97%
Q5. Here and Gone, Inc., has sales of $22,266,571, total assets of $14,998,717, and total debt of $3,554,344. If the profit margin is 12 percent, what is ROE? Enter the answer with 4 decimal places (e.g. 0.1234).
Vishal
Below is a major portion of the income statements of KTA Inc. for 2020 and 2021: Sales Cost of Sales Gross Margin 2020 P80,000 50,000 P30,000 2021 P97,200 72,000 P25,200 The firm sold its sole product for P8/unit during 2020. Even though the sales units increased by 20% during 2021, the gross margin declined. Disappointed with the results, the owner asked for your assistance in analyzing the cause of the gross margin decline. Percentage increase (decrease) in unit cost. A. 20% C. (44%) B. (20%) D. 44%
Solaris Corporation prepared the following estimates for the four quarters of the current year. First Quarter Second Quarter Sales Cost of goods sold Administrative costs Advertising costs Executive bonuses Provision for bad debts $ 1,525,000 $ 1,830,000 Third Quarter $ 2,135,000 604,000 235,000 Fourth Quarter $ 2,440,000 654,000 454,000 534,000 400,000 230,000 245,000 Ө 160,000 B в В B B 64,000 8 B B 82,000 Annual maintenance costs. 90,000 e B в Additional Information • First-quarter administrative costs include the $140,000 annual Insurance premium. • Advertising costs paid in the second quarter relate to television advertisements that will be broadcast throughout the entire year. ■ No special Items affect Income during the year. . The company estimates an effective income tax rate for the year of 25 percent. a. Assuming that actual results do not vary from the estimates provided, determine the amount of net Income to be reported each quarter of the current year. b. Assume that…

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