1.
Compute trend percent for fiscal years 2011, 2012, and 2013 for net sales, cost of sales, operating income, other income (expense) net, provision for income tax, and net income.
2.
Compute common-size percent for fiscal years 2012 and 2013 for the following categories of assets: (a) total current assets, (b) property, plant and equipment, net; and (c)
3.
Comment on any notable changes across the years for the income statement trends computed in requirement 1 and the
4(1)
Compute trend percent for fiscal years 2011, 2012, 2013 and 2014 for net sales, cost of sales, operating income, other income (expense) net, provision for income tax, and net income.
4(2)
Compute common-size percent for fiscal years 2013 and 2014 for the following categories of assets: (a) total current assets, (b) property, plant and equipment, net; and (c) goodwill plus acquired intangible assets, net.
4(3)
Comment on any notable changes across the years for the income statement trends computed in requirement 1 and the balance sheet percent computed in requirement 2.
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Chapter 13 Solutions
Financial Accounting Fundamentals:
- The company where Daniel works produces skateboards locally but sells them globally for $60 each. Daniel is one of the production managers in a meeting to discuss preliminary results from the year just ended. Here is the information they had in front of them: Standard Quantity per Unit Standard Price Wood 2.50 feet $4.00 per foot Wheels 5.00 wheels $0.50 per wheel Direct labor 0.30 hours $14.00 per hour Actual results: . • Quantity of wood purchased, 225,000 feet; quantity of wood used, 220,000 feet. Quantity of wheels purchased, 418,800 wheels; quantity of wheels used, 400,800 wheels. Actual cost of the wood, $4.20 per foot. Actual cost of the wheels, $0.55 per wheel. • Quantity of DL hours used, 26,400 hours; actual cost of DL hours, $15.20 per hour. Actual units produced, 80,000 skateboards. (a) Complete a variance analysis for DM (both wood and wheels) and DL, determining the price and efficiency variances for each; be sure to specify the amount and sign of each variance. DM- Wood…arrow_forwardNeed help with this financial accounting questionarrow_forwardPlease provide answer this financial accounting questionarrow_forward
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