Financial Accounting
Financial Accounting
5th Edition
ISBN: 9781618531650
Author: Thomas Dyckman
Publisher: Cambridge Business Publishers
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Chapter 2, Problem 54P

a.

To determine

Compute the total amount of assets invested in (1) ANF and (2) JWN. Compute the total expenses in dollars and as a percentage of sales for both companies.

b.

To determine

Compute the return on equity for ANF and JWN.

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Harper Manufacturing produces a special type of polymer used in medical devices. In 2022, the first year of operations, Harper produced 5,500 tons of polymer and sold 3,200 tons. In 2023, the company produced the same amount but sold 6,500 tons (i.e., selling all of its inventory). The selling price per ton was $1,800, variable manufacturing costs per ton were $350, and variable selling expenses were $500 per ton. Fixed manufacturing costs were $3,500,000, and fixed administrative expenses were $600,000. Compute net income under variable costing for 2022.
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