The sportswear department had net sales of $550,000 last year, with markdowns of $35,000. This year plan sales are $575,000. If the buyer is planning the same percent of markdowns this year as last year what is the markdown dollars for this year?
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- Please make in excel and take screenshots. A Pumpkin Pie Manufacturing Company pays on the tenth day after purchase. The average collection period is 35 days, and the average inventory age is based on inventory turnover of 9 times per year. The company spends about $16 million on operating cycle investments, and is considering a plan that would lengthen its average payable period by 20 days. If the company pays 12% per year on its investment of resources, what annual savings-if any-can it realize with this plan? Assume there is no discount for early payment of accounts payable and a year has 360 days.A percentage of sales model projects sales to increase by 5% annually over the next 4 years. If costs are forecast at a constant 80% of sales, and this year's income is $1,250, the forecast income in the fourth year will be: Multiple Choice $1,826.15. $1,519.38. $1,595.35. $1,447.03.Recording Entries for Multiple Securities Issuance Gilmore Company has 20,000 authorized shares of common stock, $2 par, and 20,000 authorized shares of preferred stock, $10 par. On April 10, Gilmore sold 600 shares of common stock and 400 shares of preferred stock in one transaction for a total of $20,000 cash. The common stock was selling at $26 per share, while the preferred stock was selling at $16 per share. Required a. Prepare the entry on April 10 for the issuance of common and preferred stock. b. Assume instead that only the market price of the common stock is known ($26 per share). Prepare the entry on April 10 for the issuance of common and preferred stock. Note: Carry all decimals in calculations; round the final answer to the nearest dollar. Date a. April 10 Cash Date b. April 10 Account Name Common Stock Paid-in Capital in Excess of Par-Common Stock Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock To record the issuance of stock. Cash Account Name Common…
- Philip Inc. expects their sales to increase by $900,000 next month. If their CMR is calculated as 48%, operating income of the next month would be expected to: Group of answer choices Increase by $432,000 Decrease by $468,000 Decrease by $432,000 Increase by $468,000Please don't answer in image format.. thankuA retail store sells a popular cosmetic called Devine and the store manager was given $140,000 by the corporate office to improve store performance any way she thinks best. The "base case" information is a price of $28 per bottle, a contribution margin of 0.30, a customer defection rate of 17 percent, and a repurchase frequency of five times a year. These improvement funds could be used to (a) increase the contribution margin to 0.39 or (b) reduce the customer defection rate to 12 percent or (c) increase the repurchase frequency to six times per year. Assume all other variables remain at the base case level for each of the three improvement options. Use the Excel template VLC to calculate the VLC for each option and summarize your answers using the table below. Round your answers to the nearest cent. Contribution Repurchase Defection Margin Frequency Rate 0.30 5 17% The 0.39 5 17% 0.30 5 12% 6 17% $ (a) (b) Price $28 $28 $28 (c) $28 0.30 What is the best way to use $140,000 in…
- Sparkling Water, Inc., expects to sell 3.7 million bottles of drinking water each year in perpetuity. This year each bottle will sell for $1.46 in real terms and will cost $.82 in real terms. Sales income and costs occur at year-end. Revenues will rise at a real rate of 1.3 percent annually, while real costs will rise at a real rate of 1.2 percent annually. The real discount rate is 8 percent. The corporate tax rate is 25 percent. What is the company worth today?The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. Its predetermined overhead rate is based on a cost formula that estimated $85,500 of manufacturing overhead for an estimated activity level of $45,000 direct labor dollars. At the beginning of the year, the inventory balances were as follows: Raw materials Work in process Finished goods During the year, the following transactions were completed: $ 10,100 $ 4,100 $ 8,700 a. Raw materials purchased on account, $169,000. b. Raw materials used in production, $142,000 (materials costing $122,000 were charged directly to jobs; the remaining materials were indirect). c. Costs for employee services were incurred as follows: Direct labor Indirect labor Sales commissions Administrative salaries $ 178,000 $ 262,200 e. Utility costs incurred in the factory, $12,000. f. Advertising costs incurred, $14,000. $ 25,000 $ 47,000 d. Rent for the year was $19,000 ($13,600 of this amount…Equivalent Units of Production: Weighted average method Units of production data for the two departments of Atlantic Cable and Wire Company for July of the current fiscal year are as follows: Drawing Department Winding Department Work in process, July 1 1,250 units, 50% completed 400 units, 35% completed Completed and transferred to next processing department during July 19,700 units 19,500 units Work in process, July 31 900 units, 65% completed 600 units, 25% completed Each department uses the Weighted average method. For each department, assume that direct materials are placed in process during production. a. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department. Whole units units Equivalent units of production units b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Winding…
- Products A and B are manufactured in a department. Sales for the year 2020 were planned as follows: (In Units) Product Quarter 1 Quarter 2 Quarter 3 Quarter 4 A 5000 7000 10000 8000 4000 6000 8000 5000 Selling price were OMR 10 per unit for A and OMR 20 per unit for B respectively. Average sales return are 10% of Sales and there is 20% increase in selling price every quarter. According to these revised estimates, which of the following is estimated Sales (OMR) in Quarter 4 for Product B? Select one: O a. OMR 124416 O b. OMR 155520 O c. None of the option O d. OMR 100000A new product will cost $750,000 to design, test prototypes, and set up for production. Net revenue the first year is projected to be $225,000. Marketing is unsure whether future year revenues will (a) increase by $25,000 per year as the product’s advantages become more widely known or (b) decrease by 10% per year due to competition. A third pattern of increasing by $25,000 for one year and then decreasing by 10% per year has been suggested as being more realistic. The firm evaluates projects with a 12% interest rate, and it believes that this product will have a 5-year life. Calculate the present worth and rate of return for each scenario.A rental car agency rents cars for an average price of $45/day. The number of cars owned in 2020 totals 150. The number of days rented per car in 2020 equals 200. Hence, the rental revenue in 2020 totals $45(150) (200), or $1,350,000. If the agency increases the number of cars at an annual rate of 10%, the number of days rented per car each year remains constant, and the average rental rate increases 5%/year due to inflation, what is the present worth of rental income in 2025 if the agency’s real MARR is 10%? (Allow for a fractional valued number of cars.)