Homework Answers
ANSWER
ANSWER IS OPTION B
OTHER FIXED EXPENSE IS ALLOCATED ON THE BASIS OF REVENUE EARNED BY EACH DEPARTMENT
OTHER FIXED COST=10000*7000000/10000000
=7000
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Answer the following question with the data contained in Table 1 below. By default base of...
Answer the following question with the data contained in Table 1 below. By default base of...
Answer the following question with the data contained in Table 1 below. By default base of earnings, what amount of Salaries should be allocated to the profit center of Remodel? Table 1. Profit Company 10,000,000 1.600.000 4,000,000 3,200,000 200.000 9,000,000 1,000,000 Account Earnings (revenue) Cost of Construction Labor Material Subcontracts Other Direct Cost (JOH) Total Direct Cost Gross Profit Operating Expenses Variable Operating Expense Auto and Truck Communications Insurance (Work-in-progress) Interest (Work-in-progress) Other Variable Expense Total Variable Operating Expense Contributions...
Question 9 (2 points) Answer the following question with the data contained in Table 1 below....
Question 9 (2 points) Answer the following question with the data contained in Table 1 below. Based on the number of vehicles for each profit center (5 vehicles for New Construction, 14 for Remodel, and 6 for Industrial Retrofit), what amount of Auto and Truck expense should be allocated to the profit center of New Construction?
Q: Based on the income statement for Peachtree Construction shown below, what is the ratio of...
Q: Based on the income statement for Peachtree
Construction shown below, what is the ratio of operating profit to
completed contract sales. Is this ratio acceptable? Explain.
Income Statement, Peachtree Construction (Year ended 31 December 20X5) 2,143,761 1,013,913 548,271 201,798 51,450 1,815,432 328,329 % of Sales 100 47.3 25.57 9.41 24 84.68 15.32 12,089 5,575 1,275 213 1,943 871 21,966 0.57 0.26 0.05 0.01 0.09 0.04 1.02 Net sales-total revenue costs Materials Labor (includes all payroll taxes and union fringes)...
Decision to Discontinue a Product On the basis of the following data, the general manager of...
Decision to Discontinue a Product On the basis of the following data, the general manager of Hawkeye Shoes Inc. decided to discontinue Children’s Shoes because it reduced operating income by $30,000. Hawkeye Shoes Inc. Product-Line Income Statement For the Year Ended November 30, 20Y8 Children's Shoes Men's Shoes Women's Shoes Total Sales $280,000 $300,000 $500,000 $1,080,000 Costs of goods sold: Variable costs $(135,000) $(150,000) $(220,000) $(505,000) Fixed costs (45,000) (60,000) (120,000) (225,000) Total cost of goods sold $(180,000) $(210,000) $(340,000)...
Chs Homework Question 3 of 4 -/1 III View Policies Current Attempt in Progress Runner BBQ...
Chs Homework Question 3 of 4 -/1 III View Policies Current Attempt in Progress Runner BBQ produces stainless steel propane gasgrills. The company has been in operation for three years, and sales have declined each year due to increased competition. The following information is available: Total 79.220 79,220 Units sold Units produced Fixed production costs Variable production costs per unit Selling price per unit Fixed selling and administrative expense 2020 27,960 27,960 $27,960,000 $1,000 $2,400 $3,200,000 2021 25,860 27,960 $27,960,000...
On the basis of the following data, the general manager of Hawkeye Shoes Inc. decided to...
On the basis of the following data, the general manager of Hawkeye Shoes Inc. decided to discontinue Children’s Shoes because it reduced operating income by $30,000. Hawkeye Shoes Inc. Product-Line Income Statement For the Year Ended November 30, 20Y8 Children's Shoes Men's Shoes Women's Shoes Total Sales $280,000 $300,000 $500,000 $1,080,000 Costs of goods sold: Variable costs $(135,000) $(150,000) $(220,000) $(505,000) Fixed costs (45,000) (60,000) (120,000) (225,000) Total cost of goods sold $(180,000) $(210,000) $(340,000) $(730,000) Gross profit $100,000 $90,000...
Given the following data, answer the questions below the table: ---------------------------------------------------------------------------------------------------------------------- Data Markup on job cost...
Given the following data, answer the questions below the table: ---------------------------------------------------------------------------------------------------------------------- Data Markup on job cost 75% Department Milling Assembly Machine-hours 60,000 3,000 Direct labor-hours 8,000 80,000 Total fixed manufacturing overhead cost $390,000 $500,000 Variable manufacturing overhead per machine-hour $2.00 Variable manufacturing overhead per direct labor-hour $3.75 Cost summary for Job 408 Department Milling Assembly Machine-hours 60 4 Direct labor-hours 8 40 Direct materials $900 $470 Direct labor cost $152 $800 ---------------------------------------------------------------------------------------------------------------------- a) What is the selling price for Job...
USE THE FOLLOWING DATA TO ANSWER QUESTIONS 35-40 Annual Income Statements 2013 Sales 500,000 COGS ????...
USE THE FOLLOWING DATA TO ANSWER QUESTIONS 35-40 Annual Income Statements 2013 Sales 500,000 COGS ???? Gross profit 380,000 Oper. exp 225,000 Depreciation 15,000 Operating profit 140,000 Interest exp. 5,000 EBT 135,000 Taxes 50,000 Net Income 85,000 2014 560,000 149,350 410,650 250,100 15,000 145,550 5,000 140,550 56,000 84,550 2014 Cash Accounts rec Inventories Current Assets Net fixed assets Total Assets Annual Balance Sheets 2013 450,000 275,000 280.000 1,005,000 1.125.000 2,130,000 478,500 250,000 325,000 1,053,500 ??? 2,293,500 Notes payable Accounts payable...
Compute MV Corp. 2019 taxable income given the following info relating to its year 1 activities....
Compute MV Corp. 2019 taxable income given the following info
relating to its year 1 activities. Also, compute MV’s Schedule M-1
assuming that MV’s federal income tax expense for book purposes is
$100,000.
Gross profit from inventory sales of $500,000 (no book–tax
differences)
Dividends MV received from 25 percent-owned corporation of
$100,000 (assume this is also MV’s pro rata share of the
distributing corporation’s earnings).
Expenses other than DRD, charitable contribution, and
net operating loss (NOL), are $350,000 (no book–tax...
Can anyone answer Question: El Conejo Auto Clinic (B) Alex Yianna, thats already posted El Conejo...
can anyone answer Question: El Conejo Auto Clinic (B) Alex
Yianna, thats already posted
El Conejo Auto Clinic (A)
Alex Yianna, Administrator of El Conejo Auto Clinic, was in the
process of preparing his budget for the upcoming fiscal year. He
had obtained a great deal of information from his supervisory
staff, and now it was up to him and his staff assistant to put the
information together in a format that could be presented to the
company's board of...
Answer the following question with the data contained in Table 1 below. By default base of earnings, what amount of Salaries should be allocated to the profit center of Remodel? Table 1. Profit Company 10,000,000 1.600.000 4,000,000 3,200,000 200.000 9,000,000 1,000,000 Account Earnings (revenue) Cost of Construction Labor Material Subcontracts Other Direct Cost (JOH) Total Direct Cost Gross Profit Operating Expenses Variable Operating Expense Auto and Truck Communications Insurance (Work-in-progress) Interest (Work-in-progress) Other Variable Expense Total Variable Operating Expense Contributions...
Question 9 (2 points) Answer the following question with the data contained in Table 1 below. Based on the number of vehicles for each profit center (5 vehicles for New Construction, 14 for Remodel, and 6 for Industrial Retrofit), what amount of Auto and Truck expense should be allocated to the profit center of New Construction?
Q: Based on the income statement for Peachtree
Construction shown below, what is the ratio of operating profit to
completed contract sales. Is this ratio acceptable? Explain.
Income Statement, Peachtree Construction (Year ended 31 December 20X5) 2,143,761 1,013,913 548,271 201,798 51,450 1,815,432 328,329 % of Sales 100 47.3 25.57 9.41 24 84.68 15.32 12,089 5,575 1,275 213 1,943 871 21,966 0.57 0.26 0.05 0.01 0.09 0.04 1.02 Net sales-total revenue costs Materials Labor (includes all payroll taxes and union fringes)...
Chs Homework Question 3 of 4 -/1 III View Policies Current Attempt in Progress Runner BBQ produces stainless steel propane gasgrills. The company has been in operation for three years, and sales have declined each year due to increased competition. The following information is available: Total 79.220 79,220 Units sold Units produced Fixed production costs Variable production costs per unit Selling price per unit Fixed selling and administrative expense 2020 27,960 27,960 $27,960,000 $1,000 $2,400 $3,200,000 2021 25,860 27,960 $27,960,000...
USE THE FOLLOWING DATA TO ANSWER QUESTIONS 35-40 Annual Income Statements 2013 Sales 500,000 COGS ???? Gross profit 380,000 Oper. exp 225,000 Depreciation 15,000 Operating profit 140,000 Interest exp. 5,000 EBT 135,000 Taxes 50,000 Net Income 85,000 2014 560,000 149,350 410,650 250,100 15,000 145,550 5,000 140,550 56,000 84,550 2014 Cash Accounts rec Inventories Current Assets Net fixed assets Total Assets Annual Balance Sheets 2013 450,000 275,000 280.000 1,005,000 1.125.000 2,130,000 478,500 250,000 325,000 1,053,500 ??? 2,293,500 Notes payable Accounts payable...
Compute MV Corp. 2019 taxable income given the following info
relating to its year 1 activities. Also, compute MV’s Schedule M-1
assuming that MV’s federal income tax expense for book purposes is
$100,000.
Gross profit from inventory sales of $500,000 (no book–tax
differences)
Dividends MV received from 25 percent-owned corporation of
$100,000 (assume this is also MV’s pro rata share of the
distributing corporation’s earnings).
Expenses other than DRD, charitable contribution, and
net operating loss (NOL), are $350,000 (no book–tax...
can anyone answer Question: El Conejo Auto Clinic (B) Alex
Yianna, thats already posted
El Conejo Auto Clinic (A)
Alex Yianna, Administrator of El Conejo Auto Clinic, was in the
process of preparing his budget for the upcoming fiscal year. He
had obtained a great deal of information from his supervisory
staff, and now it was up to him and his staff assistant to put the
information together in a format that could be presented to the
company's board of...
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