Entries by Hannah Wangui

The following information is available for our company for the current year: operating income, $45,000; average total assets, $400,000; net sales, $900,000; and required rate of return, 12%. what is the minimum acceptable operating income. A.($3,000) B. $3,000 c. $45,000 d. $48,000 2.what is the asset turnover to two decimal places. A. 2.25 times B. 4.44 times C. 5.00 times D. 8.89 times 3.what is the profit margin to two decimal places. A.4.44% B.5.00% C.8.89% D.11.25% 4.The following information is available for our company for the current year: operating income, $75,000; average total assets, $500,000; net sales, $750,000; and required rate of return, 12%. what is the return on investment (ROI) rounded to two decimal places. A.6.67% B.10.00% C.15.00% D.16.67%

August 13, 2019 in /by

The following information is available for our company for the current year:operating income, $45,000; average total assets, $400,000; net sales, $900,000; and required rate of return, 12%. what is the minimum acceptable operating income. A.($3,000) B. $3,000 c. $45,000 d. $48,000 2.what is the asset turnover to two decimal places. A. 2.25 times B. 4.44 times […]

 

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1.Our company manufactures bird feeders. The budgeted sales price is $20 per unit, and the variable costs are $12 per unit. Budgeted fixed costs for the company are $15,000. What is the budgeted amount for operating income for 5,000 bird feeders? A.$8.00 per unit B. $60,000 C.$25,000 D.$15,000 2.Our company manufactures bird feeders. The budgeted sales price is $30 per unit, and the variable costs are $12 per unit. Budgeted fixed costs for the company are $15,000. What is the budgeted amount for contribution margin for 5,000 bird feeders? A.$18.00 per unit B. $90,000 C. $75,000 D. $60,000 3.The actual operating income for our company for the current year was $97,000. The flexible budgeted operating income for actual sales volume was $95,000, and the static budget for operating income was $96,000. What is the sales volume variance for operating income on the Flexible Budget Performance Report? A.$2,000 favorable B.$2,000 unfavorable C.$1,000 favorable D.$1,000 unfavorable 4.The static budget for our company shows a sales volume of 2,000 units and a sales price of $60 per unit. Actual sales for the year totaled 2,100 units, and the actual sales price was $58 per unit. What is the dollar amount for sales revenue in the flexible budget column of the Flexible Budget Performance Report? A.$126,000 B.$124,200 C.$121,800 D.$120,000

August 13, 2019 in /by

1.Our company manufactures bird feeders. The budgeted sales price is $20 per unit, and the variable costs are $12 per unit. Budgeted fixed costs for the company are $15,000. What is the budgeted amount for operating income for 5,000 bird feeders? A.$8.00 per unit B. $60,000 C.$25,000 D.$15,000 2.Our company manufactures bird feeders. The budgeted sales price […]

 

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1.Our company is a price taker and has the following information available for the current year: budgeted production, 200,000 units; desired operating income as a percentage of total assets, 15%; current market price of our product, $50 per unit; and total assets, $12,000,000. What is the full product cost for the year? $1,500,000 $1,800,000 $8,200,000 $12,000,000 2.Our company is a price setter and has the following information available for the current year: budgeted sales volume, 200,000 units; desired operating income as a percentage of total assets, 16%; variable costs, $25 per unit; fixed costs, $4,000,000; and total assets, $12,000,000. What is our sales price per unit if we used the cost-plus pricing approach? $49.60 $51.91 $54.60 $50.20 3.Our company manufactures and sells calculators for $80 each. A major University has offered us $55 per calculator for a one-time order of 500 calculators. Our costs to manufacture a calculator include: direct materials, $25 per unit; direct labor, $20 per unit; variable factory overhead, $15 per unit; and fixed manufacturing overhead, $12 per unit. Assume that we have excess capacity and the special order will not affect regular sales. What is the change in operating income that would result from accepting this special sales order? 4.Our company manufactures and sells seven different products to different markets. Financial data for product x2 is as follows: revenue, $45,000; variable expenses, $35,000; and fixed expenses $15,000. Assume that fixed costs will remain unchanged if the product line is dropped, and there will be no adverse effect on sales of other products. What is the effect of dropping this product on the operating income of the company? Operating income will increase by $2,000. Operating income will decrease by $2,000. Operating income will decrease by $3,000. Operating income will increase by $3,000.

August 13, 2019 in /by

1.Our company is a price taker and has the following information available for the current year: budgeted production, 200,000 units; desired operating income as a percentage of total assets, 15%; current market price of our product, $50 per unit; and total assets, $12,000,000. What is the full product cost for the year? $1,500,000 $1,800,000 $8,200,000 $12,000,000 2.Our […]

 

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On January 1, 2017, ML Company acquired a parcel of real estate that included land and a building for a negotiated price of $2,290,000. Before purchasing the property, ML paid $30,000 for an appraisal that estimated the fair value of the land to be $756,000 and the building to be $1,944,000. In addition, LM incurred closing costs of $180,000 to complete the transfer of the property and the purchase was financed through a 20 year mortgage note payable with an interest rate of 4%.. Two days after completion of the transfer ML had a water leak in the building that caused $75,000 worth of damage to the building which was repaired. Required: Assuming ML occupies the building, determine the acquisition cost that would be capitalized to the land and building accounts.

August 13, 2019 in /by

On January 1, 2017, ML Company acquired a parcel of real estate that included land and a building for a negotiated price of $2,290,000. Before purchasing the property, ML paid $30,000 for an appraisal that estimated the fair value of the land to be $756,000 and the building to be $1,944,000. In addition, LM incurred closing costs […]

 

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