Two products A and B are manufactured in a department. Sales for the year 2020 were planned as follows: Product Quarter 1 Quarter 2 Quarter 3 Quarter 4 8000 10000 11000 14000 B 6000 8000 7500 5500 Selling prices in Quarter 1 were estimated as OMR 20 per unit for A and OMR 30 for B respectively. Average sales return are 5% of Sales . According to these estimates, which of the following is estimated Sales (OMR) in Quarter 3 for Product A? Select one: O a. 185600 O b. 254050 O c. The correct answer not available O d. 209000 O e. 219600

Two products A and B are manufactured in a department. Sales for the year 2020 were planned as follows: Product Quarter 1 Quarter 2 Quarter 3 Quarter 4 8000 10000 11000 14000 B 6000 8000 7500 5500 Selling prices in Quarter 1 were estimated as OMR 20 per unit for A and OMR 30 for B respectively. Average sales return are 5% of Sales . According to these estimates, which of the following is estimated Sales (OMR) in Quarter 3 for Product A? Select one: O a. 185600 O b. 254050 O c. The correct answer not available O d. 209000 O e. 219600

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

Culver, Inc. is a company that manufactures and sells a single product. Unit sales for each of the four quarters of 2025 are projected as follows. Quarter First Second Third Fourth Annual total 100,800 189,000 Units 693,000 151,200 Culver incurs variable manufacturing costs of $0.40 per unit and variable nonmanufacturing costs of $0.35 per unit. Culver will incur fixed manufacturing costs of $907,200 and fixed nonmanufacturing costs of $1,360,800. Culver will sell its product for $4 per unit. 1,134,000 Show Transcribed Text $ Income before taxes (Integral Approach) $ Income before taxes (Discrete Approach) Determine the amount of net income Culver will report in each of the four quarters of 2025, assuming actual sales are as projected and employing the integral approach to interim financial reporting. (Ignore income taxes.) Repeat the analysis under the discrete approach. (Round answers to O decimal places, e.g. 5,125. Enter negative amounts using either a negative sign preceding the…
Jim's Espresso expects sales to grow by 10.4% next year. Using the following statements LOADING... and the percent of sales method, forecast: a. Costs b. Depreciation c. Net Income d. Cash e. Accounts receivable f. Inventory g. Property, plant, and equipment (Note: Make sure to round all intermediate calculations to at least five decimal places.) The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career. Income Statement Sales $207,620Costs Except Depreciation (100,360)EBITDA $107,260Depreciation (6,050)EBIT $101,210Interest Expense (net) (500)Pretax Income $100,710Income Tax (35,249)Net Income $65,461 Balance Sheet Assets Cash and Equivalents $14,990Accounts Receivable 1,980Inventories…
tamarisk, Inc. is a company that manufactures and sells a single product. Unit sales for each of the four quarters of 2020 are projected as follows. Quarter Units First 96,000 Second 180,000 Third 660,000 Fourth 144,000 Annual total 1,080,000 Tamarisk incurs variable manufacturing costs of $0.40 per unit and variable nonmanufacturing costs of $0.35 per unit. Tamarisk will incur fixed manufacturing costs of $864,000 and fixed nonmanufacturing costs of $1,296,000. Tamarisk will sell its product for $4 per unit. (a) Determine the amount of net income Tamarisk will report in each of the four quarters of 2020, assuming actual sales are as projected and employing the integral approach to interim financial reporting. (Ignore income taxes.) Repeat the analysis under the discrete approach. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Net income (Integral Approach) $ $ $ $…
Violet Sales Corp, reports the year-end information from 2023 as follows: Sales (35,500 units) $284,000 Cost of goods sold 105,000 Gross margin 179,000 Operating expenses 152,000 Operating income $27,000 Violet is developing the 2024 budget. In 2024 the company would like to increase selling prices by 3.5%, and as a result expects a decrease in sales volume of 14%. All other operating expenses are expected to remain constant. Assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. What is budgeted sales for 2024?
Total cost and number of units in the first seven months of 2020 are given below. According to this information, which of the following is the cost equation? Periods Total Cost No.of Units January 21,410 210 February 22,040 240 March 22,775 275 April 23,195 295 May 23,510 310 June 23,720 320 July 24,350 350 Select one: a. Y=17000+21*X b. Y=20500+23*X c. Y=20000+22.5*X d. Y=23150+25*X
Total cost and number of units in the first seven months of 2020 are given below. According to this information, which of the following is the cost equation? Periods Total Cost No.of Units January 21,410 210 February March 22,040 240 22,775 275 April 23,195 295 May 23,510 310 June 23,720 320 July 24,350 350 Select one: O a. Y=23150+25*X O b. Y=20500+23*X O C.Y=20000+22.5*X O d. Y=17000+21*X
Two articles A and B are manufactured in a department. Sales for the year 2021 were planned as follows: Product 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter (Units) (Units) (Units) (Units) Product 50,000 60,000 65,000 75,000 A Product 25,000 22,500 20,000 19,000 B Selling price were sh. 40 per unit for A and sh. 20 per unit for B respectively. Average sales return is 5 % of sales. What is the annual sales budget for the year 2021? Select one: Sh 11,730,000 O Sh 11,143,500 Sh 9,500,000 O Sh 10,750,000
Answer what is being asked. Show your computation on the space provided. 1. Roxas company sold 23,430 units of product A in 2020 which 10% compared to the units sold in 2019. The products were sold at P300 per unit. Because of heavy advertising and other promotional activities and shift in buyer's preferences, the company expect to increase the sales by 15% in 2021 against the 2020 performance. The company plans to sell the product at P350 per unit. Required: Prepare the sales budget Sales Budget 2021 Estimated Price Selling Units Sales Projected Sales
Use the information below for Product A and Product B to answer the question that follow.Next year’s sales forecast shows that 20,000 units of Product A and 22,000 units of Product B are going to be sold for prices of $10 and $12 per unit, respectively. The desired ending inventory of Product A is 20% higher than its beginning inventory of 2,000 units. The beginning inventory of Product B is 2,500 units. The desired ending inventory of Product B is 3,000 units.Total budgeted sales of both products for the year would be a.$264,000 b.$200,000 c.$42,000 d.$464,000
Sarasota, Inc. is a company that manufactures and sells a single product. Unit sales for each of the four quarters of 2020 are projected as follows. Quarter Units First 64,000 Second 120,000 Third 440,000 Fourth 96,000 Annual total 720,000 Sarasota incurs variable manufacturing costs of $0.40 per unit and variable nonmanufacturing costs of $0.35 per unit. Sarasota will incur fixed manufacturing costs of $576,000 and fixed nonmanufacturing costs of $864,000. Sarasota will sell its product for $4 per unit. 1. Determine the amount of net income Sarasota will report in each of the four quarters of 2020, assuming actual sales are as projected and employing the integral approach to interim financial reporting. (Ignore income taxes.) Repeat the analysis under the discrete approach. (Round answers to 0 decimal places) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Net income (Integral Approach) Net income (Discrete Approach)…
Capital Investments has two divisions. Each division's required rate of return is 10%. Planned operating results for 2020 are as follows: (Click the icon to view the planned operating results.) Read the requirements. Requirement a. What is the current ROI for each division? Begin by selecting the formula to calculate ROI, then compute the ROI for each division. Measure of income + Measure of investment 12,350,000 95,000,000 10,640,000 56,000,000 Division A Division B Division A Division B Measure of income 12,350,000 10,640,000 Division A Division B Requirement b. What is the current residual income for each division? Begin by selecting the formula to calculate the residual income (RI), then compute the RI for each division. X Required rate of return Measure of investment 95,000,000 56,000,000 10 % 10 % $ ROI ... % % -( -( $ -($ ROI X 13 % 19 % = ) = ) = Requirement c. Capital is planning an expansion that will require each division to increase its investments by $25,000,000 and its…
Using the data below, estimate the direct labor costs per unit for 2021. Consider carefully the labor effort required, on average, to get one unit of sale. Selling price per unit is $70. Ending inventory each year is zero. Production capacity is #20,000 per year. Inflation is zero. It is a several week warranty. REVENUE Direct Materials Factory & Equipment Lease Utilities Selling and Administration Maintenance Legal Fees Direct Labour Patent Amortization Utilities Selling and Administration Maintenance Legal Fees Direct Labour Patent Amortization Profit Warranty replacements (#) O5.00 to 5.50 O 5.51 to 5.99 O 5.90 to 6.10 O 6.11 to 6.20 O 6.21 to 6.50 O No answer text provided. Year 2018 Year 2019 $896,000 $1,085,000 234,000 150,000 59,000 242,400 65,000 O 78,000 O 59,000 242,400 65,000 0 78,000 0 67,600 200 288,000 150,000 68,000 264,000 80,000 23,000 96,000 30,000 68,000 264,000 80,000 23,000 96,000 30,000 86,000 500 Year 2020 $1,204,000 324,000 150,000 74,000 277,600 123,000 11,000…