The table below shows the manufacturing costs, overhead andprofit of a company between 2016 and 2019. The total barsrepresent the revenues.What line item experienced the biggest year-on-year growthrate across any of these years?SELECT ONLY ONEProfitOverhead$8,000Revenues$35,000$30,000$9,000$25,000$20,000$15,000$4,000$10,000$3,000$3,500$3,000$16,000$3,000$5,000$2,000$6,000$7,000$4,000$-2016201720182019Manufacturing cost Overhead ■ProfitManufacturing cost

The objective of the question is to identify which line item (Manufacturing cost, Overhead, Profit,…

Answered: The table below shows the manufacturing…

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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ILLUSTRATION 7. From the following information, interpret the results of operations of manufacturing concern using trend ratios : (Amount in '000 $ For the year ended 31st March 2016 2015 2014 2013 10,000 9,500 5,890 Sales (net) 13,000 12,000 Cost of Goods Sold 7,280 6,960 6,000 5,040 1,100 3,610 970 4,000 1,000 Gross Profit 5,720 Selling Expenses 1,200 Net Operating Profit 4,520 3,940 2,640 3,000
A. Wally asks you to create an Income Statement for 2020 using the information below. 1. 2020 sales were 150% of last year’s sales2. Gross profit margin was 55%3. Operating profit margins were 15% 4. Interest expense fell to 7%, given a change in interest rates 5. The tax rate was 30% B. Based on the change in Income between 2020 and 2019, how would you say AndrewCo is doing?
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The following data for the years ended December 31, 2019 and 2020 were presented to the management Zigzag Company: 2020 = Net sales: 1,363,000, Cost of Sales: 911,800, Gross Profit: 451,200; 2019 = Net Sales: 1,250,000, Cost of Sales: 776,000, Gross Profit: 474,000. The management requested you to determine the cause of the decline in gross profit on sales in spite of the favorable information given by the sales division that the quantity sold in 2020 was higher than in 2019 and that the production costs in 2020 were lower than that of 2019 by 6%. The increase (decrease) in net sales due to cost factor is A. (P135,800) B. 135,800 C. (P58,200) D. 58,200
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Income statement data for Bezos Company for the years ended December 31, 2014 and 2013, are as follows: 2014 2013 Sales $840,000 $600,000 Cost of goods sold 724,500 525,000 Gross profit $115,500 $75,000 Selling expenses $52,500 $37,500 Administrative expenses 41,400 30,000 Total operating expenses $93,900 $67,500 Income before income tax $21,600 $7,500 Income tax expense 10,800 2,700 Net income $10,800 $4,800 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for 2014 when compared with 2013. Round one to decimal place. b. What conclusion can be drawn from the horizontal analysis?
Suppose a firm has had the following historic sales figures. What would be the forecast for next year's sales using the average approach? You must use the built-in Excel function to answer this question. Input area: Year Sales 2016 2017 2018 es es e $ 1,500,000 $ 1,750,000 $ 1,400,000 2019 $ 2,000,000 2020 $ 1,600,000 Output area: Next year's sales
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Using the information provided, what is the length of the production cycle for the firm? Allied Industries, Inc. Selected Income Statement Items, 2017 Cash Sales $1,500,000 Credit Sales $7,500,000 Total Sales $9,000,000 COGS $6,000,000 Allied Industries, Inc. Selected Balance Sheet Accounts 12/31/201712/31/2016Change Accounts Receivable $270,000 $240,000 $30,000 Inventory $125,000 $100,000 $25,000 Accounts Payable $110,000 $90,000 $20,000
The following tables summarizes the 2019 income statement and end-year balance sheet of Drake’s Bowling Alleys. Drake’s financial manager forecasts a 10% increase in sales and costs in 2020. The ratio of sales to average assets is expected to remain at 0.40. Interest is forecasted at 5% of debt at the start of the year. INCOME STATEMENT, 2019 (Figures in $ thousands) Sales $ 1,120 (40% of average assets)a Costs 840 (75% of sales) Interest 26 (5% of debt at start of year)b Pretax profit $ 254 Tax 101 (40% of pretax profit) Net income $ 152 a Assets at the end of 2018 were $2,700,000. b Debt at the end of 2018 was $530,000. BALANCE SHEET, YEAR-END (Figures in $ thousands) Assets $ 2,900 Debt $ 530 Equity 2,370 Total $ 2,900 $ 2,900 a. What is the implied level of assets at the end of 2020? (Do not round your intermediate calculations. Enter your answer in thousands.) b. If the…
The following data for the years ended December 31, 2019 and 2020 were presented to the management Zigzag Company: 2020 = Net sales: 1,363,000, Cost of Sales: 911,800, Gross Profit: 451,200; 2019 = Net Sales: 1,250,000 , Cost of Sales: 776,000 Gross Profit: 474,000 . The management requested you to determine the cause of the decline in gross profit on sales in spite of the favorable information given by the sales division that the quantity sold in 2020 was higher than in 2019 and that the production costs in 2020 were lower than that of 2019 by 6%. The increase ( decrease ) in net sales due to volume factor must be A.(194,000) B. 194,000 C . (312500) D. 312500

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