Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 7, Problem 4MAD
Segment disclosure by Apple Inc. (AAPL) provides sales information for its major product lines for three recent years as follows (in millions):
The Services segment includes sales from iTunes Store, App Store, Mac App Store, TV App Store, iBooks Store, Apple Music, AppleCare, and Apple Pay. The Other Products segment includes sales from Apple TV, Apple Watch, Beats products, iPod, and Apple-branded accessories.
- a. Which product had the greatest percentage of Year 3 sales? Which product had the least percentage of Year 3 sales? Round to nearest whole percent.
- b. Which product grew the most in sales, in percentage terms, using Year 1 as the base year? Round to nearest whole percent.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Need Answer
Answer Please
The net sales, net income and total assets for Aaron Shipping, Inc. for a five-year period is shown
in the following table. Use DuPont analysis to compute rate of return on average total assets for
2010 through 2012.
(In thousands) 2012 2011 2010 2009 2008
$900 $400 $352 $314 $296
Net sales
Net income 50 39 46 37 24
Total assets
308 269 252 231 209
Staples, Inc. is one of the largest suppliers of office products in the United States. It had net
income of $738.7 million and sales of $24,275.5 million in 2009. Its total assets were $13,073.1
million at the beginning of the year and $13,717.3 million at the end of the year.
What is Staples, Inc.'s (a) asset turnover ratio and (b) profit margin ratio?
(Round to two decimals.)
Provide a brief interpretation of your results.
Using the information below for Laurels Company; determine the manufacturing costs added
during the current year:
Direct materials used
$6,400
Direct labor
8,400
Total factory overhead
6,500
Beginning work in process…
Chapter 7 Solutions
Managerial Accounting
Ch. 7 - What types of costs are customarily included in...Ch. 7 - Which type of manufacturing cost (direct...Ch. 7 - Which of the following costs would be included in...Ch. 7 - In the variable costing income statement, how are...Ch. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Discuss how financial data prepared on the basis...Ch. 7 - Prob. 8DQCh. 7 - Explain why rewarding sales personnel on the basis...Ch. 7 - Explain why service companies use different...
Ch. 7 - Variable costing Marley Company has the following...Ch. 7 - Prob. 2BECh. 7 - Variable costingsales exceed production The...Ch. 7 - Prob. 4BECh. 7 - Contribution margin by segment The following...Ch. 7 - At the end of the first year of operations, 21,500...Ch. 7 - Gallatin County Motors Inc. assembles and sells...Ch. 7 - Fresno Industries Inc. manufactures and sells...Ch. 7 - On March 31, the end of the first month of...Ch. 7 - On April 30, the end of the first month of...Ch. 7 - On October 31, the end of the first month of...Ch. 7 - The following data were adapted from a recent...Ch. 7 - Estimated income statements, using absorption and...Ch. 7 - The following data were adapted from a recent...Ch. 7 - Prob. 10ECh. 7 - Explain why service companies use different...Ch. 7 - Galaxy Sports Inc. manufactures and sells two...Ch. 7 - Prob. 13ECh. 7 - Sales territory and salesperson profitability...Ch. 7 - Prob. 15ECh. 7 - Prob. 16ECh. 7 - Variable costing income statement for a service...Ch. 7 - Variable costing income statement for a service...Ch. 7 - Prob. 1PACh. 7 - The demand for solvent, one of numerous products...Ch. 7 - During the first month of operations ended May 31,...Ch. 7 - Salespersons report and analysis Walthman...Ch. 7 - Segment variable costing income statement and...Ch. 7 - Absorption and variable costing income statements...Ch. 7 - Income statements under absorption costing and...Ch. 7 - Absorption and variable costing income statements...Ch. 7 - Prob. 4PBCh. 7 - Variable costing income statement and effect on...Ch. 7 - Prob. 1MADCh. 7 - Prob. 2MADCh. 7 - Prob. 3MADCh. 7 - Segment disclosure by Apple Inc. (AAPL) provides...Ch. 7 - Prob. 1TIFCh. 7 - Inventory effects under absorption costing BendOR,...Ch. 7 - Communication Bon Jager Inc. manufactures and...Ch. 7 - Prob. 1CMACh. 7 - Chassen Company, a cracker and cookie...Ch. 7 - Prob. 3CMACh. 7 - Bethany Company has just completed the first month...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- please provide answer with calculatinoarrow_forwardApple Inc. designs, manufactures, and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers. Substantially all of the companys sales over the last five years are from sales of its Macs, iPods, iPads, and related software and peripherals. For two recent fiscal years, Apple reported the following (in millions): Assume that the accounts receivable (in millions) were 24,094 at the beginning of fiscal Year 1. 1. Compute the accounts receivable turnover for Year 2 and Year 1. Round to two decimal places. 2. Compute the days sales in receivables at the end of Year 2 and Year 1. Use 365 days and round to one decimal place. 3. What conclusions can be drawn from (1) and (2) regarding Apples efficiency in collecting receivables?arrow_forwardApple Inc.: Segment revenue analysis Segment disclosure by Apple Inc. provides sales information for its major product lines for three recent years as follows (in millions): A. Which product had the greatest percentage of Year 3 sales? Which product had the least percentage of Year 3 sales? (Round to nearest whole percent.) B. Which product grew the most in sales, in percentage terms, using Year 1 as the base year? (Round to nearest whole percent.)arrow_forward
- The following revenue data were taken from the December 31, 2017, General Electric annual report (10-K): For each segment and each year, calculate intersegment sales (another name for transfer sales) as a percentage of total sales. Using Microsoft Excel or another spreadsheet application, create a clustered column graph to show the 2016 and 2017 percentages for each division. Comment on your observations of this data. How might a division sales manager use this data?arrow_forwardThe following revenue data were taken from the December 31, 2017, Coca-Cola annual report (10-K): For each segment and each year, calculate intersegment sales (another name for transfer sales) as a percentage of total sales, Using Microsoft Excel or another spreadsheet application, create a clustered column graph to show the 2016 and 2017 percentages for each division. Comment on your observations of this data. How might a division sales manager use this data?arrow_forwardGameWorld Corp. is the world's largest multichannel video game retailer. The company reported the following amounts (in millions) in its annual financial statements at the end of January. Net Sales Revenue Cost of Goods Sold Beginning Inventory Ending Inventory 2016 $16,400 9,240 2,550 2,950 Inventory Turnover Ratio Days to Sell 2015 $15,900 8,840 1,850 2,550 Required: 1. Determine the inventory turnover ratio and average days to sell inventory for 2016 and 2015. TIP: Remember to use costs in both the numerator (CGS) and denominator (average inventory). (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.) 2016 times per year days 2015 times per year daysarrow_forward
- want correct answer please provide itarrow_forwardApple Inc. designs, manufactures, and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers. Substantially all of the company's sales over the last five years are from sales of its Macs, iPods, iPads, and related software and peripherals. For two recent fiscal years, Apple reported the following (in millions): Year 2 Year 1 Sales $233,715 $182,795 Accounts receivable at end of year 35,889 31,537 Assume that the accounts receivable (in millions) were $24,094 at the beginning of fiscal Year 1. 1. Compute the accounts receivable turnover for Year 2 and Year 1. Round to two decimal places. 2. Compute the days' sales in receivables at the end of Year 2 and Year 1. Use 365 days and round to one decimal place. What conclusions can be drawn from (1) and (2) regarding Apple's efficiency 3. in collecting receivables?arrow_forwardThe following data (in millions) were taken from recent annual reports of Apple Inc., a manufacturer of personal computers and related products, and Mattel Inc., a manufacturer of toys, including Barbie®, Hot Wheels®, and Disney Classics: Apple Mattel Cost of merchandise sold $140,089 $2,896 Inventory, end of year 2,349 588 Inventory, beginning of the year 2,111 562 a. Determine the inventory turnover for Apple and Mattel. Round to one decimal place. Apple Mattel b. Would you expect Mattel’s inventory turnover to be higher or lower than Apple’s?arrow_forward
- The general merchandise retail industry has a number of segments represented by the following companies: For a recent year, the following cost of goods sold and beginning and ending inventories are provided from corporate annual reports (in millions) for these three companies: a. Determine the inventory turnover ratio for all three companies. Round all calculations to one decimal place. b. Determine the number of days sales in inventory for all three companies. Use 365 days and round all calculations to one decimal place. c. Interpret these results based on each companys merchandising concept.arrow_forwardCommon-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. TannenhillCompany ElectronicsIndustryAverage Sales $2,740,000 100 % Cost of goods sold 1,753,600 69 Gross profit $986,400 31 % Selling expenses $602,800 18 % Administrative expenses 219,200 7 Total operating expenses $822,000 25 % Operating income $164,400 6 % Other revenue 54,800 2 $219,200 8 % Other expense 27,400 1 Income before income tax $191,800 7 % Income tax expense 82,200 5 Net income $109,600 2 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive…arrow_forwardThe Statement of Comprehensive Income of PRINCESS Merchandising for three years ending December 31, 2016, 2017, 2018 are presented as follows: Prepare a trend percentage Statement of Comprehensive Income. 2016 2017 2018 Net Sales 450 000 585 000 690 000 Cost of Sales 283 500 321 750 337 500 Gross Profit 166 500 263 250 352 500 Operating Expenses Marketing Expenses 40 500 75 750 99 000 General Administrative 56 250 39 000 60 000 Net Income 69 750 148 500 193 500 2016 2017 2018 Net Sales 100 Cost of Sales 100 Gross Profit 100 Operating Expenses Marketing Expenses 100 100 General Administrative 100 Net Income 100arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College PubFinancial And Managerial AccountingAccountingISBN:9781337902663Author:WARREN, Carl S.Publisher:Cengage Learning,Financial & Managerial AccountingAccountingISBN:9781337119207Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning
- Financial AccountingAccountingISBN:9781337272124Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage LearningFinancial AccountingAccountingISBN:9781305088436Author:Carl Warren, Jim Reeve, Jonathan DuchacPublisher:Cengage LearningPrinciples of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax College
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:Cengage Learning,
Financial & Managerial Accounting
Accounting
ISBN:9781337119207
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Cengage Learning
Financial Accounting
Accounting
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Cengage Learning
Financial Accounting
Accounting
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
How To Analyze an Income Statement; Author: Daniel Pronk;https://www.youtube.com/watch?v=uVHGgSXtQmE;License: Standard Youtube License