20. The following is a summarized income statement of CoolKid Co.'s profit center No. 44 for March: Contribution margin Period expenses: Manager's salary Facility depreciation Corporate expense allocation Profit center income Which of the following amounts is most likely subject to the control of the profit center's manager? P70,000 P20,000 8,000 (33,000) P37.000 5,000 A. P70,000 P50,000 C. P37,000 D. P33,000 В. B.
Q: The condensed income statement for a Fletcher Inc. for the past year is as follows: Product F…
A: Calculation of profit without product G Product F G H Total Sales $300,000 $ 340,000 $640,000…
Q: The following information relates to Fay Corporation for the past accounting period. Producing…
A: Given, Direct costs of Production department C = P15000 Production department D = P20000 Direct…
Q: The condensed income statement for a Fletcher Inc. for the past year is as follows: Product…
A: Formula: Contribution margin: Sales - variable cost. Deduction of variable cost from sales value…
Q: tax incom Gross profit ? Allocated costs (uncontrollable) $2,030 Labor expense 41,590 Sales 189,000…
A: Income statement refers to those financial statements of the company which depicts the…
Q: The following are the respective costs and revenues incurred by Company ABC COSTS for months…
A:
Q: The condensed income statement for a Fletcher Inc. for the past year is as follows: Product F…
A: The income statement shows the net income or net loss calculated by deducting the expenses from the…
Q: Given the income statement of ABC Company Sales P400,000 Variable Cost (120,000) Contribution margin…
A: Margin of Safety: The idea of margin of safety dictates that an investor buys assets only when their…
Q: The following information relates to Pure Corporation for the past accounting period. Service…
A: This question deals with the allocation of service department cost. In simultaneous method, service…
Q: Statements of comprehensive income for year ended 31 December 2020 Tiger (Pty) Ltd Lion…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: The following information relates to next year's projected operating results of the One Division of…
A: Elimination of Division: If a division of an entity is a loss-making division is a beneficial…
Q: The February contribution format income statement of Mcabier Corporation appears below: Sales $…
A: Degree of operating leverage (DOL): DOL reflects variable and fixed cost relationship of an…
Q: Tech Manufacturing Company realized P15,000,000 in sales, with a cost of goods sold of P6,000,000,…
A: The ratio analysis helps to analyze the financial statements of the business. The Return on assets…
Q: i Requlred Informatlon The following information applies to the questions displayed below]…
A: Asset turnover ratio in the business shows efficiency of the assets of the business in generating…
Q: Pretax income ? Gross profit ? Allocated costs (uncontrollable) $2,040 Labor expense 41,580 Sales
A: A Income Statement Amount $ Sales 189,000 Cost of goods sold 119,070 Gross profit…
Q: questions 43-46 are all interconnected , so please kindly answer them. thank you so much. Questions…
A: Financial ratios are very important factor in every organization as it will helpful to the…
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: Return on sales: Return on sales assesses the profitability of a company by stating Net Profit as a…
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: Profit margin = Net IncomeSales x 100 Return on Investment = Net IncomeTotal Investmentx100…
Q: Belowis an income statem ent for NUBD Company: Sales P400,000 (120,000) Contribution margin P280,000…
A: Contribution margin ratio = Contribution margin / sales = 280000/400000 = 70%
Q: 20. A company’s contribution approach income statement showed net income, variable production…
A: Sales = Net income + Variable cost + Fixed cost = P4,000 + P15,000 + P10,000 = P29,000
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: Income Statement Profit margin, return on investment, and residual income
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: working notes : $190,000-$119,700=$70,300 Less: Income tax expense (21% of pretax income…
Q: Consider the following portion of a segmented income statement for the year just ended. Assume that…
A: PLEASE LIKE THE ANSWER correct answer is option a P10,000 increase X's divisional segment margin…
Q: The following information relates to Pug Company Sales revenue Contribution margin Net operating…
A:
Q: .Piedmont Company segments its business into two regions-North and South. The company prepared the…
A: Break-even sale is the dollar sale of an entity whereby the business is neither in profits nor in…
Q: Crossfire Company segments its business into two regions—East and West. The company prepared a…
A: The question is based on the concept of Cost Accounting.
Q: Presented below is information related to the Annandale Division of Lumber, Inc. Contribution margin…
A: Residual Income - Residual Income is the income continue to be receive after completion of work.…
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: Preparation of income statement helps the business entity in determining how much gross profit or…
Q: . Prepare the income statement using the above informatio
A:
Q: Solaris Corporation prepared the following estimates for the four quarters of the current year:…
A: Net income is the amount earned by an entity after deducting the expenses from the incomes. It is…
Q: The following information relates to Fay Corporation for the past accounting period. Producing…
A: This question deals with the algebraic(Reciprocal) method of cost allocation. In this method service…
Q: How much is controllable margin? * Do not use money sign. Sample format: 11,111 NUBD Manufacturing…
A: The controllable margin is calculated as excess of contribution margin over controllable fixed cost.…
Q: Piedmont Company segments its business into two regions—North and South. The company prepared the…
A: Break even point is the level of sales at which the company earns no profits and incurs no losses…
Q: The following information relates to Fay Corporation for the past accounting period. Producing…
A:
Q: The following are the respective costs and revenues incurred by Company ABC COSTS for months 1, 2, 3…
A: Interest rate 12% compounded yearly, then interest rate per month shall be - Interest rate for the…
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: A. BDS Enterprises Income Statement For the year ended December 31, 20xx Sales 188,000…
Q: Crossfire Company segments its business into two regions—East and West. The company prepared a…
A: In this question, there are multiple questions but we solved only the first three questions as per…
Q: Use the following information (in thousands): Service Revenue ¥1,600,000 Income from continuing…
A: Finance cost = Income from operation - Income before income tax
Q: Belowis an income statement for NUBD Company: P 400,000 (120.000) Contribution margin P280,000…
A: Contribution Margin Ratio = Contribution MarginSales × 100 = P280,000P400,000×100 = 70% Break Even…
Q: he following CVP income statements are available for Cullumber Corp. and Ivanhoe Cullumber Ivanhoe,…
A: COST VOLUME ANANLYSIS is used to do analysis of how changes that has took place in cost and volume…
Q: Requlred Informatlon [The following information applies to the questions displayed below.]…
A: ROI( Return on investments) is the return ratio which state percentage of Profit earned on…
Q: Suresh Co. expects its five departments to yield the following income for next year. Dept. P $56,000…
A: Departmental income statement are the statement prepared to know the performance of the departments…
Q: Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an…
A: Income statement is the summary showing the revenues and costs in which the latter is subtracted…
Q: Belowis an income statem ent for NUBD Company P400,000 (120.000) Contribution margin P280,000…
A: Contribution margin ratio = Contribution margin /sales = 280000/400000 = 70%
Q: A company’s contribution approach income statement showed net operating incomeof $4,000, and fixed…
A: Contribution margin: Difference between the sales and the variable costs is called contribution…
Q: The ABC Corporation reported the following information for its Toledo Division: Revenues Operating…
A: Return on Investment is used to measure the profitability of a particular business or division. It…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. A. In the correct format, prepare the income statement using the following information: B. Calculate the profit margin, return on investment, and residual income. Assume an investment base of $100,000 and 6% cost of capital. C. Prepare a short response to accompany the income statement that explains why uncontrollable costs are included in the income statement.The following is a summarized income statement for McClaron Manor Co.'s profit center 12608 for April: Contribution Margin $ 176,000 Period Expenses $ 12,000 Manager' s Salary $ 2,100 Corporate Expense Allocation $ 8,100 $ (22,200 ) Net Income $ 153,800 Which of the following amounts is most likely subject to the control of the profit center's manager? (CPA, adapted) Multiple Choice Contribution Margin of $176,000 and Period Expenses of $14,100. Contribution Margin of $176,000. Contribution Margin of $176,000 and Period Expenses of $22,200. Contribution Margin of $176,000 and Period Expenses of $12,000.The following data are available for Segment X of XYZ Company: Net income of the segment $50,000 Contribution to indirect expenses 40,000 Controllable income by manager 48,000 Assets directly used by the manager 360,000 Assets under the control of the segment 240,000 manager Determine the return on investment for evaluating 1. the income performance of the manager of Segment X and 2. the rate of income contribution of the segment. Answer:
- Refer to the information for Jasper Company on the previous page.Required:1. Prepare an income statement for Jasper for last year. Calculate the percentage of sales for eachline item on the income statement. (Note: Round percentages to the nearest tenth of a percent.)2. CONCEPTUAL CONNECTION Briefly explain how a manager could use the incomestatement created for Requirement 1 to better control costs.a. Present a cost-profit-volume analysis that shows the effect of adding the $8,500 annual premium to the company's fixed costs by showing current and revised CVP Income Statements. Include a column to the right of each income statement where each line item is expressed as a percentage of sales (called a common size income statement). b. Visualize the changes to net income in a chart. c. Advise the company using your quantitative support and qualitative. reasoning as to whether the company should purchase the insurance. A-Float Pools Company Income Statement (Pools Maintenance Div.) For the Year Ended December 31, 2022 In Sales (2,000 clients) Cost of Services Gross profit Operating expenses Selling Administrative Net Income $165,000 $225,000 $1,100,000 627,000 $473,000 $390,000 $83.000Given the following information: Revenue from Operations 3,40,000 Cost of Revenue from Operations 1,20,000 Selling expenses 80,000 Administrative Expenses 40,000 Calculate Gross profit ratio and Operating ratio.
- 6. Using a responsibility income statement Shown below is the current monthly income statement of Metro Video, by profit centers: Sales Variable Costs Contribution margin Fixed costs traceable to departments Departments responsibility margins Common fixed costs Income from operations METRO VIDEO Income Statement by Profit Centers For the Month Ended April 30, 20 Metro Video Dollars % $560,000 100 (268,800) (48) $291,200 52 (67,200) (12) $224,000 (61,600) $162,400 40 29 Equipment Sales Dollars $280,000 (198,800) $ 81,200 (25,200) Segments $56,000 % 100 71) 29 (09) Video Rentals Dollars $280,000 (70,000) $210,000 (42,000) 20 $168,000 % 100 (25) 75 (15) 60 On the basis of this information, compute the increase in monthly income from operations that may be expected to result from each of the following actions: (a) Spending $5,000 per month in advertising is expected to increase sales in the Equipment Sales Department by 35%. $_ (b) Closing the Equipment Sales Department and allowing the…Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. Pretax income ? Gross profit ? Allocated costs (uncontrollable) $2,030 Labor expense 41,590 Sales 189,000 Research and development (uncontrollable) 320 Depreciation expense 18,000 Net income/(loss) ? Cost of goods sold 119,070 Selling expense 1,250 Total expenses ? Marketing costs (uncontrollable) 780 Administrative expense 700 Income tax expense (21% of pretax income) ? Other expenses 310 A. Prepare the income statement to include all costs, but separate out uncontrollable costs using the above information. Round your answers to the nearest dollar. BDS Enterprises Income Statement For the Year Ended December…Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. Pretax income ? Gross profit ? Allocated costs (uncontrollable) $2,040 Labor expense 41,580 Sales 189,000 Research and development (uncontrollable) 310 Depreciation expense 16,000 Net income/(loss) ? Cost of goods sold 119,070 Selling expense 1,250 Total expenses ? Marketing costs (uncontrollable) 790 Administrative expense 700 Income tax expense (21% of pretax income) ? Other expenses 330 A. Prepare the income statement using the above information. Round your answers to the nearest dollar. BDS Enterprises Income Statement For the Year Ended Dec. 31, 20xx Sales $fill in the blank cde9000a3faf056_2 Cost of…
- Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. Pretax income ? Gross profit ? Allocated costs (uncontrollable) $2,040 Labor expense 41,570 Sales 188,000 Research and development (uncontrollable) 315 Depreciation expense 18,000 Net income/(loss) ? Cost of goods sold 118,440 Selling expense 1,250 Total expenses Marketing costs (uncontrollable) 780 Administrative expense 690 Income tax expense (21% of pretax income) ? Other expenses 320 A. Prepare the income statement to include all costs, but separate out uncontrollable costs using the above information. Round your answers to the nearest dollar. BDS Enterprises Income Statement For the Year Ended December 31, 20xx Controllable Expenses: Total Controllable…Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. Pretax income ? Gross profit ? Allocated costs (uncontrollable) $2,040 Labor expense 41,580 Sales 188,000 Research and development (uncontrollable) 320 Depreciation expense 17,000 Net income/(loss) ? Cost of goods sold 118,440 Selling expense 1,260 Total expenses Marketing costs (uncontrollable) 790 Administrative expense 690 Income tax expense (21% of pretax income) ? Other expenses 330 A. Prepare the income statement using the above information. Round your answers to the nearest dollar. BDS Enterprises Income Statement For the Year Ended Dec. 31, 20xx Total Expenses B. Calculate the profit margin, return on investment, and residual income. Assume an…Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. Pretax income ? Gross profit ? Allocated costs (uncontrollable) $2,040 Labor expense 41,580 Sales 188,000 Research and development (uncontrollable) 315 Depreciation expense 16,000 Net income/(loss) ? Cost of goods sold 118,440 Selling expense 1,260 Total expenses ? Marketing costs (uncontrollable) 780 Administrative expense 700 Income tax expense (21% of pretax income) ? Other expenses 310 B. Calculate the profit margin, return on investment, and residual income. Assume an investment base of $100,000 and 6% cost of capital. Round your percentage answers to one decimal place. Profit margin ? % Return on investment ? %…