ulz - Chapter 6 iactivity/question-grouSavedHelp1Tami Tyler opened Tami's Creations, Inc., a small manufacturing company, at the beginning of the year. Getting the company through itsfirst quarter of operations placed a considerable strain on Ms. Tyler's personal finances. The following income statement for the firstquarter was prepared by a friend who has just completed a course in managerial accounting at State University.Tami's Creations, Inc.Income StatementFor the Quarter Ended March 31Sales (28, 400 units)Variable expenses:Variable cost of goos soldVariable selling andladministrativeContribution marginFixed expenses:Fixed manufacturing overheadFixed selling and administrativeNet operating loss$1,136, 000$ 440, 200178, 920619, 120516, 880251, 200277,680528, 880$( 12,000)Ms. Tyler is discouraged over the loss shown for the quarter, particularly because she had planned to use the statement as support fora bank loan. Another friend, a CPA, insists that the company should be using absorption costing rather than variable costing andargues that if absorption costing had been used the company probably would have reported at least some profit for the quarter.At this point, Ms. Tyler is manufacturing only one product-a swimsuit. Production and cost data relating to the swimsuit for the firstquarter follow:Units producedUnits soldVariable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrative31, 40028, 400$ 7.60$ 6.00$ 1.90$ 6.30Prev1 of 5Next > HelpSave & ExitSubmU. VVIIOL IS ue CUmpal ny > ausuIPLIUII CUSLII Iy Tiel upeiau ny Ue Iuss) IUI Ie yuoI Le tc. Reconcile the variable and absorption costing net operating Income (loss) figures.3. During the second quarter of operations, the company again produced 31,400 units but sold 34,400 units. (Assume no change intotal fixed costs.)a. What is the company's variable costing net operating income (loss) for the second quarter?b. What is the company's absorption costing net operating income (loss) for the second quarter?c. Reconcile the variable costing and absorption costing net operating incomes for the second quarter.Check my workComplete this question by entering your answers in the tabs below.Req 1AReg 1BReq 1CReq 3AReq 3BReq 3CWhat is the company's absorption costing net operating income (loss) for the quarter? (Round your intermediate calculationsto 2 decimal places.)Tami's Creations, Inc.Absorption Costing Income StatementTotalSales834,900Cost of goods sold(667,400)Gross margin167,500Selling and administrative expenses(178,920)Net operating income (loss)< Req 1AReq 10 >Prev1 of 5Next >DELL

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Ethics and professional conduct in business Erin Haywood was recently hired as a cost analyst by Wind River Medical Supplies Inc. Oneof Erin’s first assignments was to perform a net present value analysis for a new warehouse.Et-in performed the analysis and calculated a present value index of 0.8. The plant manager.ZuhairBarbat, is very intent on purchasing the warehouse because he believes that more storage space is needed. Zuhair asks Erín into his office and the following conversation takes place: ZubairErín, you’re new here, aren’t you? EHii: Yes, sir. Zubair: V.dl, Erin, let me tell you something. ¡m not at all pleased with the capital investment analysis that you performed on this new warehouse. T need that warehouse for my production. If I dont get it, where am I going to place our output? Erín: Hopefully with the customer, sir. Zithair: Now don’t get smart with me. Erín: No, really. I was being serious. My analysis does not support constructing a new ware- house. The numbers don’t lie: the warehouse does not meet our investment return targets. In fact, it seems to me that purchasing a warehouse dots not add much value to the business. We need to be producing product to satisfy customer orders, not to fill a warehouse. Zubair Listen, you need to understand sonwthing. The headquarters people will not allow mv to build the warehouse if the numbers dont add up. You know as well as I that many assump tions go into your net present value analysis. Why don’t you relax some of your assumptions so that the f́nancial savings will offset the cost? Erín: I’m willing to discuss my assumptions with you. Maybe I overlooked something. Zubafr Good. Here’s what I want you to do. 1 see in your analysis tha you don’t project greater sales as a result of the warehouse. It seems to me, if we can store more goxLs, then will have more to sell. Thus, logically, a larger warehouse translates into more sales. If you incorporate this into your analysis, I think you’ll see that the numbers will work out. Why don’t you work it through and come back with a new analysis? I’m really counting on you on this one. Let’s get off to a good start together and see if we can get this project accepted. What is your advice to Erin?
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e| MyUSF A My Home CengageNOWv2|Online teachir x engagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inpro. to Product J is one of the many products manufactured and sold by Oceanside Company. An income statement by product line for the past year indicated a net profit for Product J of $2,750. This net profit resulted from sales of $275,000, cost of goods sold of $186,500, and operating expenses of $85,750. It is estimated that 30% of the cost of goods sold represents fixed factory overhead costs and that 40% of the operating expense is fixed. If Product J is retained, the revenue, costs, and expenses are not expected to change significantly from those of the current year. Because of the large number of products manufactured, the total fixed costs and expenses are not expected to decline significantly if Product J is discontinued. Prepare a differential analysis report dated February 8 of the current year. If an amount is zero, enter "0". If…
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p.mheducation.com/ext/map/index.html?_con=con&external_browser%3D0&launchUrl=https%253A%252F%252Flms.mhe D and P Indeed 6 Monster Jobs w Degree Programs O L02 A Hearn: Student Da.. 6 Consumer Center ework: Assignment 1 i Saved Perez Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percentage of sales due to rounding. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be e PEREZ COMPANY Vertical Analysis of Income Statements Percentage of Sales Percentage of Sales Year 4 Year 3 Sales 1,077,500 00S'000'L Cost of goods sold 550,275 000 Z09 Gross margin on sales 450,225 475,500 Operating expenses 130,500 149,800 319.725 325,700 Income before taxes 79.700 81,800 Income taxes 240.025 243.900 % Net income
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Jack Bibby is a prospector in the Texas Panhandle. He has also been running a side business for the past couple of years. i (Click the icon to view the side business information.) At the end of the recent season, Jack Bibby evaluated his financial results: (Click the icon to view the financial results.) Read the requirements. Requir Begin Costs: Increm p me sq Data table Sales revenues Share of snake cost Processing expenses Allocated overhead Income (loss) Meats Skins Rattles $ 33,000 $8,800 $ 2,200 $ 1,320 660 440 19,800 5,280 6,600 990 4,400 660 2,200 $ 1,870 $ $ (Click the icon to view additional cost information.) Print Done Total 44,000 26,400 8,250 5,500 (220) $ 3,850 C - X tions. mpty; do not s More info The cost of snakes is assigned to each product line using the relative sales value of meat, skins, and rattles (i.e., the percentage of total sales generated by each product). Processing expenses are directly traced to each product line. Overhead costs represent Jack's basic…
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