BEAUTIFUL LAKE / TUTORIALOUTLET DOT COM
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Use the following information for questions 9 through 12. Rembrant Hotel & Casino is situated on beautiful Lake Tahoe in Nevada. The complex includes a 300¬room hotel, a casino, and a restaurant (considered as three divisions). Below is income statement information for 2013: Casino Restaurant Hotel Revenues Direct costs
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Trial balance sheet exercise 5
The trial balance and financial statements are for Unleash Your Power Inc. for the 6-month period ended December 31, 2014. The company sells personal development training tools. The income statement shows a net profit of $42,100 with gross profit of $62,550 less total operating expenses of $20,450. The balance sheet lists total assets of $144,680 including current assets of $55,480 and fixed assets of $88,300, with total liabilities of $51,010 including a bank loan of $35,000. Owner's equity consists of initial capital less drawings plus net profit.
Trial balance exercise 1
The trial balance for Bootlegger Trader for the year ended 31 December 2014 is provided along with additional financial information. The additional information needs to be used to adjust the trial balance and then prepare an income statement and balance sheet. A sample vertical format balance sheet is also provided to demonstrate the required format for the balance sheet.
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W1.1 Equations and InequalitiesSolve the quadratic equation us.docx
W1.1
Equations and Inequalities
Solve the quadratic equation using factoring: 15x2 - x = 2
Calculations
Explanations of Calculations
Solve the equation by making an appropriate substitution:x4–16x2 = – 60
Calculations
Explanations of Calculations
Functions and Their Graphs
W2.1
Use the graph for the following functions to determine domain and range for the function. Express each domain or range in set-builder notation as well as interval notation.
a.
b.
c.
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Explanations of Calculations
W2.2
Part I. Given the following function, y = f(x), find the indicated values:
a. f(3)
b. f(-2)
c. f(0)
Part II. Given the function f (x) = – x2 + 7x + 50, find the indicated values:
a. f(3)
b. f(-3)
c. f(0)
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Explanations of Calculations
W3.3 Transformations and Algebra of Functions
Given f (x) = – 3x - 3 and g(x) = 4x2 + 2x- 2, find the following:
a.
, find the domain
b.
c.
d.
(don’t forget to factor and simplify if possible)
Calculations
Explanations of Calculations
W3.4
Given f(x) = – x2 -5x + 2 and g(x) = x2 + 9, find the following:
a.
b.
c.
Calculations
Explanations of Calculations
d.
(-4,2)
PLEASE SHOW EXPLANATION OF YOUR WORK IN THE FORMS PROVIDED!
THANKS!!
Danielle,
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ProblemYou are a young loan officer working for Goose River Bank in Mayville, ND.Your boss, Mr. Jefferson, has handed you the file of a new customer for the bank, Mayville Motors Inc.They are looking for a loan of $350,000 to expand their business and add a dealership in Hatton, ND.Enclosed you will find the income statement and balance sheet for Mayville Motors for the past 3 years.Conduct the necessary ratio analysis in order to determine whether to grant them a loan.After conducting the analysis, write a memo to Mr. Jefferson detailing your decision.Be sure to backup your decision using your ratios and industry averages.
Income Statements200920102011Sales Revenue1,900,0001,700,0001,600,000COGS1,000,0001,100,0001,150,000Gross Profit900,000600,000450,000Operating Expenses:Selling300,000257,000241,000General & Admin.100,00069,00072,000Leases40,00025,00030,000Depreciation30,00035,00040,000Total Operating Expenses470,000386,000383,000Earnings Before Interest and Taxes430,000214,00067,000Interest Expense24,00029,00034,000Net Profit Before Taxes406,000185,00033,000Taxes (35%)142,10064,75011,550Net Profit After Taxes263,900120,25021,450
Balance SheetCurrent Assets:200920102011Cash $135,000$104,365$85,650Accounts Receivable111,250192,005212,410Inventories98,850157,330175,830Total Current Assets$345,100$453,700$473,890Property, Plant and Equipment$778,150$930,000$1,054,000Less Accumulated Depreciation170,000205,000245,000Net Property, Plant and Equipment$608,150$725,000$809,000Total Assets$953,250$1,178,700$1,282,890Current Liabilities:Accounts Payable$ 82,350$ 103,550$ 122,390Accrued Exp.
Servizi Manutenzione e Assistenza - 4. Comparazione tra allocazione Diretta e...
This document compares the direct and step cost allocation methods. Under the direct method, the administration cost of $180,000 is allocated to the accounting department based on the number of employees, resulting in $36,000 being allocated. The computer services cost of $90,000 is allocated based on the number of PCs, with $13,500 going to accounting. The total allocation from the two service departments to accounting is $135,000. Under the step method, the administration cost is allocated with $8,571 going to accounting, and computer services cost is reallocated, resulting in a total allocation to accounting of $49,072.
2. Centri di Costo
- Traceable costs arise due to a specific segment and would disappear if that segment was eliminated. Common costs support multiple segments and would remain even if one segment was removed.
- Costs can be traced directly to segments but some costs that are traceable at higher levels of segmentation become common costs at lower levels.
- Improper cost assignment, such as omitting costs, assigning common costs to segments, or using inappropriate allocation methods, undermines the accuracy of segment reporting.
1.CVP, analisi Cost-Volume-Profit, l'approccio di contribuzione e punto di pa...
No, the increase in the advertising budget should not be authorized based on the information provided. While sales would increase by 40 units from 500 to 540 bikes, generating an additional $8,000 in contribution margin, the $10,000 increase in the fixed advertising expense would result in a $2,000 decrease in net operating income. The increase in sales does not cover the increase in fixed costs, so profitability would decline.
Recommended
Trial balance sheet exercise 5
The trial balance and financial statements are for Unleash Your Power Inc. for the 6-month period ended December 31, 2014. The company sells personal development training tools. The income statement shows a net profit of $42,100 with gross profit of $62,550 less total operating expenses of $20,450. The balance sheet lists total assets of $144,680 including current assets of $55,480 and fixed assets of $88,300, with total liabilities of $51,010 including a bank loan of $35,000. Owner's equity consists of initial capital less drawings plus net profit.
Trial balance exercise 1
The trial balance for Bootlegger Trader for the year ended 31 December 2014 is provided along with additional financial information. The additional information needs to be used to adjust the trial balance and then prepare an income statement and balance sheet. A sample vertical format balance sheet is also provided to demonstrate the required format for the balance sheet.
F Fi Bom Usa Complete
The document discusses a fuel additive product called the MPG-CAP, which is claimed to increase fuel efficiency and reduce emissions. It summarizes the product's effects and marketing approach. It also outlines the compensation plan for the multi-level marketing company selling the product, including bonuses for personal and group sales.
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The document provides an overview of internal service funds (ISFs) used by various public sector entities. ISFs are used to better manage and track cross-departmental operational costs and capital expenditures. They increase fiscal accountability, assess total cost of ownership, and allow customer influence over budgets. The document then discusses examples of ISFs used by Arvada, Fort Collins, and Jefferson County, comparing their structures, chargeback methods, and goals in transitioning to ISFs.
W1.1 Equations and InequalitiesSolve the quadratic equation us.docx
W1.1
Equations and Inequalities
Solve the quadratic equation using factoring: 15x2 - x = 2
Calculations
Explanations of Calculations
Solve the equation by making an appropriate substitution:x4–16x2 = – 60
Calculations
Explanations of Calculations
Functions and Their Graphs
W2.1
Use the graph for the following functions to determine domain and range for the function. Express each domain or range in set-builder notation as well as interval notation.
a.
b.
c.
Calculations
Explanations of Calculations
W2.2
Part I. Given the following function, y = f(x), find the indicated values:
a. f(3)
b. f(-2)
c. f(0)
Part II. Given the function f (x) = – x2 + 7x + 50, find the indicated values:
a. f(3)
b. f(-3)
c. f(0)
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Explanations of Calculations
W3.3 Transformations and Algebra of Functions
Given f (x) = – 3x - 3 and g(x) = 4x2 + 2x- 2, find the following:
a.
, find the domain
b.
c.
d.
(don’t forget to factor and simplify if possible)
Calculations
Explanations of Calculations
W3.4
Given f(x) = – x2 -5x + 2 and g(x) = x2 + 9, find the following:
a.
b.
c.
Calculations
Explanations of Calculations
d.
(-4,2)
PLEASE SHOW EXPLANATION OF YOUR WORK IN THE FORMS PROVIDED!
THANKS!!
Danielle,
g
f
-
g
f
·
g
f
)
(
x
g
f
o
)
(
x
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ProblemYou are a young loan officer working for Goose River Bank in Mayville, ND.Your boss, Mr. Jefferson, has handed you the file of a new customer for the bank, Mayville Motors Inc.They are looking for a loan of $350,000 to expand their business and add a dealership in Hatton, ND.Enclosed you will find the income statement and balance sheet for Mayville Motors for the past 3 years.Conduct the necessary ratio analysis in order to determine whether to grant them a loan.After conducting the analysis, write a memo to Mr. Jefferson detailing your decision.Be sure to backup your decision using your ratios and industry averages.
Income Statements200920102011Sales Revenue1,900,0001,700,0001,600,000COGS1,000,0001,100,0001,150,000Gross Profit900,000600,000450,000Operating Expenses:Selling300,000257,000241,000General & Admin.100,00069,00072,000Leases40,00025,00030,000Depreciation30,00035,00040,000Total Operating Expenses470,000386,000383,000Earnings Before Interest and Taxes430,000214,00067,000Interest Expense24,00029,00034,000Net Profit Before Taxes406,000185,00033,000Taxes (35%)142,10064,75011,550Net Profit After Taxes263,900120,25021,450
Balance SheetCurrent Assets:200920102011Cash $135,000$104,365$85,650Accounts Receivable111,250192,005212,410Inventories98,850157,330175,830Total Current Assets$345,100$453,700$473,890Property, Plant and Equipment$778,150$930,000$1,054,000Less Accumulated Depreciation170,000205,000245,000Net Property, Plant and Equipment$608,150$725,000$809,000Total Assets$953,250$1,178,700$1,282,890Current Liabilities:Accounts Payable$ 82,350$ 103,550$ 122,390Accrued Exp.
Servizi Manutenzione e Assistenza - 4. Comparazione tra allocazione Diretta e...
This document compares the direct and step cost allocation methods. Under the direct method, the administration cost of $180,000 is allocated to the accounting department based on the number of employees, resulting in $36,000 being allocated. The computer services cost of $90,000 is allocated based on the number of PCs, with $13,500 going to accounting. The total allocation from the two service departments to accounting is $135,000. Under the step method, the administration cost is allocated with $8,571 going to accounting, and computer services cost is reallocated, resulting in a total allocation to accounting of $49,072.
2. Centri di Costo
- Traceable costs arise due to a specific segment and would disappear if that segment was eliminated. Common costs support multiple segments and would remain even if one segment was removed.
- Costs can be traced directly to segments but some costs that are traceable at higher levels of segmentation become common costs at lower levels.
- Improper cost assignment, such as omitting costs, assigning common costs to segments, or using inappropriate allocation methods, undermines the accuracy of segment reporting.
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No, the increase in the advertising budget should not be authorized based on the information provided. While sales would increase by 40 units from 500 to 540 bikes, generating an additional $8,000 in contribution margin, the $10,000 increase in the fixed advertising expense would result in a $2,000 decrease in net operating income. The increase in sales does not cover the increase in fixed costs, so profitability would decline.
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Q3“I can’t understand what’s happening here,” said Mike Holt, president of Severson Products, Inc. “We always seem to bid too high on jobs that require a lot of labor time in the Finishing Department, and we always seem to get every job we bid on that requires a lot of machine time in the Milling Department.Yet we don’t seem to be making much money on those Milling Department jobs. I wonder if the problem is in our overhead rates.” Severson Products manufactures high-quality wood products to customers’ specifications. Some jobs take a large amount of machine work in t ...
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The document provides instructions for completing various worksheets using financial data from Choice Hotels (CHH) and Marriott International's 10-K annual reports for 2017 and 2016. It instructs the user to collect revenue, expense, asset, liability and cash flow data from the 10-K reports and complete the worksheets, calculating percentage changes and answering questions. The questions ask which company would be a more attractive acquisition target based on changes in revenue, expenses and net income, and what advice would be given to Choice Hotels to reduce total liabilities.
The Finance Perspective: The Business Model for the Subscription Economy
Learn best practices for subscription financial management, with a focus on the ‘Three Metrics That Matter’, the new income statement for the Subscription Economy and how to apply it to your business. Learn best practices for subscription financial management, with a focus on the ‘Three Metrics That Matter’, the new income statement for the Subscription Economy and how to apply it to your business.
You have.docx
You have been asked by management to explain the variances in costs under your inpatient capitated contract. The following data is provided. Use the following data to calculate the variances.
Budget
Actual
Inpatient Costs
$12,568,500
$16,618,350
Members
42,000
42,000
Admission Rate
0.070
0.095
Case Mix Index
0.90
0.85
Cost per Case (CMI = 1.0)
$4,750
$4,900
Question 2.
Budgeted Procedures
$10,000
Budgeted Cost
$400,000
Desired Profit
$80,000
Payer
Volume%
Discount%
Blue Cross
20
4
Unity PPO
15
10
Kaiser
10
10
Self Pay
5
40
50%
Question 3.
Budget
Actual
Wage Rate per Hour
$16.00
$17.00
Fixed Hours
320
320
Variable Hours per Relative
Value Unit (RVU)
1.0
1.1
Relative Value Units (RVUs)
1,000
1,200
Total Labor Hours
1,320
1,640
Labor Costs
$21,120
$27,880
Cost per RVU
$21.12
$23.23
Question 4.
Question 5.
Question 6.
Question 7.
.
Ms 04 accounting and finance for managers (4)
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Stayer acc 560 week 3 homework chapter 4
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Stayer acc 560 week 3 homework chapter 4
acc 560 week 3 assignment 1 activity-based costing abc in service industries new,acc 560 week 3 dq time-driven activity-based costing abc new,acc 560 week 3 homework chapter 4 be 4-7,be 4-12,e4-1,e4-6,e4-14 new,strayer acc 560,acc 560,strayer acc 560 week 3 tutorial,acc 560 week 3 assignment,strayer acc 560 week 3 help
Stayer acc 560 week 3 homework chapter 4
acc 560 week 3 assignment 1 activity-based costing abc in service industries new,acc 560 week 3 dq time-driven activity-based costing abc new,acc 560 week 3 homework chapter 4 be 4-7,be 4-12,e4-1,e4-6,e4-14 new,strayer acc 560,acc 560,strayer acc 560 week 3 tutorial,acc 560 week 3 assignment,strayer acc 560 week 3 help
Crystal Coast Ocean Resort The Crystal Coast Ocean Resort (CCOR.docx
Crystal Coast Ocean Resort
The Crystal Coast Ocean Resort (CCOR) is a large, family-owned resort located on one of the finest beaches in North Carolina. The Resort is locally called the “Ramada Inn: Crystal Coast Ocean Resort”, because it has a contractual relationship with Ramada Inn, Inc which requires Ramada to provide reservation services and certain marketing services. In turn CCOR pays an annual fee to Ramada and displays the Ramada Inn sign. Ramada has the right, under contract, to require CCOR to meet Ramada standards for resort services, cleanliness, etc, and regularly visits CCOR to make sure that these standards are being met. CCOR’s main building has a T-configuration, where the top of the T is road-side and the bottom of the T is at the beach. This allows all rooms to have at least a partial view of the beach. There are five types of rooms for guests, ocean front (actually facing the ocean, at the bottom of the T), ocean view (along the sides of the T), pool side (first floor, with patios having direct access to the pool), and one and two bedroom suites that are located at the top of the T. These rooms are distributed as follows.
No. of Rooms
Ocean front
50
Ocean view
250
Pool Side
18
One Bedroom Suite
16
Two Bedroom Suite
16
350
The season for CCOR is year-round because of the mild winters, though the occupancy rates vary from 100% during the summer months to less than 50% in the winter months. The average annual occupancy rate for each type of rooms is 80%, 75%, 60%, 50% and 50% for the ocean front, ocean view, pool side, one room and two room suites, respectively. Because the Resort is popular with families, the average number of persons per room is greater than for some other motels or hotels. The average number of occupants is three for the ocean front, ocean view, and pool side rooms, four for the one bedroom suite, and 6 for the two bedroom suite. The suite are also somewhat larger, 500 square feet for the one bedroom suite, and 900 square feet for the two bedroom suite, while all other room are 300 square feet.
CCOR does not have some of the amenities of competing resorts, but instead competes on value pricing and reliable service. It does not offer special services such as room service, exercise room, restaurant, or lounge but it sets high standards for room cleanliness and for the appearance and cleanliness of the pool and grounds. Also, CCOR offer a free breakfast and a free afternoon snack.
Because of high demand in summer months, CCOR sets relatively high market prices during this season, ranging from $125 to $350 per room depending on room type and day of week. Prices are lower in the fall and spring, and substantially lower in the winter. In order to have better information about price setting and profitability analysis for each of the five room types: ocean front, ocean view, pool side, one bedroom and two bedroom suites, CCOR has gathered additional information .
Chapter 6 Cost-Volume-Profit Relationships
This document provides an overview of cost-volume-profit (CVP) analysis concepts including contribution margin, break-even point, CVP graphs, contribution margin ratio, and how changes in variables like sales price, costs, and volume affect profits. It discusses the equation method and contribution margin method for calculating break-even point in units and dollars. Formulas and examples from a sample company called Racing Bicycle are provided to illustrate key CVP terms and calculations.
SPE1300 Articles Of Operation
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Stayer acc 560 week 3 homework chapter 4
This document provides information and instructions for completing several homework problems related to activity-based costing. It includes details on five problems:
1) Calculating total overhead for Spud Inc. given activity cost pool budgets and actual usage amounts.
2) Computing predetermined overhead rates for three activity pools at Spin Cycle Architecture and classifying each activity.
3) Computing overhead rates using traditional and activity-based costing for Saddle Inc. and determining the difference in allocations between the two approaches.
4) Classifying costs at Santana Corporation into activity cost pools and identifying cost drivers.
5) Computing activity-based overhead rates and overhead costs assigned to commercial and residential product lines for Venus Creations.
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Assignment 08Accounting for ManagersDirections Unless otherwis.docx
Assignment 08
Accounting for Managers
Directions Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be a minimum of one (1) single-spaced page to a maximum of two (2) pages in length; refer to the "Assignment Format" page for specific format requirements.
Horizontal and Vertical Analysis
Sanborn Corporation’s condensed comparative income statements for 20x8 and 20x7 appear below. The corporation’s condensed comparative balance sheets for 20x8 and 20x7 appear on the next page.
Sanborn Corporation
Comparative Income Statements
For the Years Ended December 31, 20x8 and 20x7
(in thousands of dollars)
20x8
20x7
Net sales
$3,276,800
$3,146,400
Cost of goods sold
2,088,800
2,008,400
Gross margin
$1,188,000
$1,138,000
Operating expenses
Selling expenses
$ 476,800
$ 518,000
Administrative expenses
447,200
423,200
Total operating expenses
$ 924,000
$ 941,200
Income from operations
$ 264,000
$ 196,800
Interest expense
65,600
39,200
Income before income taxes
$ 198,400
$ 157,600
Income taxes expense
62,400
56,800
Net income
$ 136,000
$ 100,800
Earnings per share
$3.40
$2.52
Sanborn Corporation
Comparative Balance Sheets
December 31, 20x8 and 20x7
20x8
20x7
Assets
Cash
$ 81,200
$ 40,800
Accounts receivable (net)
235,600
229,200
Inventory
574,800
594,800
Property, plant, and
equipment (net)
750,000
720,000
Total assets
$1,641,600
$1,584,800
Liabilities and Stockholders' Equity
Accounts payable
$ 267,600
$ 477,200
Notes payable (short-term)
200,000
400,000
Bonds payable
400,000
—
Common stock, $10 par value
400,000
400,000
Retained earnings
374,000
307,600
Total liabilities and
stockholders' equity
$1,641,600
$1,584,800
1.
Prepare schedules showing the amount and percentage changes from 20x7 to 20x8 for the comparative income statements and the balance sheets. You may use the forms below. (40 points)
Sanborn Corporation
Comparative Income Statements
For the Years Ended December 31, 20x8 and 20x7
(in thousands of dollars)
20x8
20x7
Increase or Decrease
Amount
Percentage
Net sales
$3,276,800
$3,146,400
Cost of goods sold
2,088,800
2,008,400
Gross margin
$1,188,000
$1,138,000
Operating expenses
Selling expenses
$ 476,800
$ 518,000
Administrative expenses
447,200
423,200
Total operating expenses
$ 924,000
$ 941,200
Income from operations
$ 264,000
$ 196,800
Interest expense
65,600
39,200
Income before income taxes
$ 198,400
$ 157,600
Income taxes expense
62,400
56,800
Net income
$ 136,000
$ 100,800
Earnings per share
$3.40
$2.52
Sanborn Corporation
Comparative Balance Sheets
December 31, 20x8 and 20x7
20x8
20x7
Increase or Decrease
Amount
Percentage
Assets
Cash
$ 81,200
$ 40,800
Accounts ...
Mikes Bikes Business Simulation | Global 99.8th Percentile
• Schedule weekly meeting with the team to devise a business plan and to develop sale strategies.
• Collect and visualize market trends data using Excel and Tableau and modify business strategy accordingly.
Please do not use the answer below; it has already been used. Please.docx
Please do not use the answer below; it has already been used. Please format it like the example below. Please give brief explanation of how you achieved calculations.
Huffman Trucking
Balance Sheet
(Unaudited)
December 31st
2006
2005
(In Thousands)
Assets
Current Assets
Cash & Cash Equivalents
$51,993
$38,893
Accounts Receivable
56,292
57,441
Prepaid Expenses & Supplies
3,443
3,343
Total Current Assets
$111,728
$99,677
Carrier Operating Property (at cost)
$73,024
$70,957
Less: Allowance for Depreciation
(57,536)
(55,477)
Net Carrier Operating Property
$15,488
$15,480
Assets of Discontinued Operations
16,192
18,891
Goodwill (net)
57,767
53,977
Other Assets
26,613
24,194
Total Assets
$227,788
$212,219
Liabilities and Shareholders' Equity
Current Liabilities
Accounts Payable
$47,124
$39,936
Salaries & Wages
29,753
27,048
Current Portion of Long-Term Debt
2,204
2,514
Freight & Casualty Claims Payable
9,746
8,941
Total Current Liabilities
$88,827
$78,439
Long-Term Liabilities
Accrued Pension & Post-Retirement Health Care
$58,362
$52,721
Long-Term Debt
13,431
15,318
Total Long-Term Liabilities
$71,793
$68,039
Shareholders' Equity
Common Stock
($1.00 par value Authorized: 20,000,000 shares)
$3.882
$3.882
Treasury Shares
(1.952)
(1.952)
Retained Earnings
67,166
65,739
Total Shareholders' Equity
$67,168
$65,741
Total Liabilities and Shareholders' Equity
$227,788
$212,219
$19,211
$18,802
Memo To: All Senior Staff From: Kristen Huffman, CEO & President Re: New Strategic Direction Thank you for attending our annual strategic planning session. Given recent changes in the economy and customer needs, a new direction for our company is necessary. After reviewing how other companies restructured themselves in recent years, we will mirror how UPS® conducts business as a partner/consultant with large customers. For our company, however, we will go a step further and become a warehousing/local just-in-time (JIT) delivery source, instead of providing logistics advice to clients, as UPS® does. To accomplish this, we must integrate this new direction into our upcoming strategic plan and financial planning. First, I need all department managers to prepare their budgets. I would also like our accounting department to move ahead on a preliminary set of pro forma statements, even without final budgets, using the following assumptions. They must determine if external funding is needed. I have attached a summary of assumptions about this new direction. New Strategic Direction Page 2 1. Assume inflation of 4% on expenses, not including depreciation and taxes. This is in addition to the new initiative’s costs. New Strategic Initiative Assumptions Huffman may overcome increased competition and economic slowdown by initiating a new strategy; this will turn our company into a one-stop shop and key logistics company. We will provide consulting services, generate revenues, and become a JIT warehouse/delivery source. A local retailer selling products .
Pittman Company is a small but growing manufacturer of telecommunica.pdf
Pittman Company is a small but growing manufacturer of telecommunications equipment. The
company has no sales force of its own; rather, it relies completely on independent sales agents to
market its products. These agents are paid a sales commission of 15% for all items sold.
Barbara Cheney, Pittman’s controller, has just prepared the company’s budgeted income
statement for next year. The statement follows:
Pittman Company
Budgeted Income Statement
For the Year Ended December 31
Sales
$
16,000,000
Manufacturing expenses:
Variable
$
7,200,000
Fixed overhead
2,340,000
9,540,000
Gross margin
6,460,000
Selling and administrative expenses:
Commissions to agents
2,400,000
Fixed marketing expenses
120,000*
Fixed administrative expenses
1,800,000
4,320,000
Net operating income
2,140,000
Fixed interest expenses
540,000
Income before income taxes
1,600,000
Income taxes (30%)
480,000
Net income
$
1,120,000
*Primarily depreciation on storage facilities.
As Barbara handed the statement to Karl Vecci, Pittman’s president, she commented, “I went
ahead and used the agents’ 15% commission rate in completing these statements, but we’ve just
learned that they refuse to handle our products next year unless we increase the commission rate
to 20%.”
“That’s the last straw,” Karl replied angrily. “Those agents have been demanding more and
more, and this time they’ve gone too far. How can they possibly defend a 20% commission
rate?”
“They claim that after paying for advertising, travel, and the other costs of promotion, there’s
nothing left over for profit,” replied Barbara.
“I say it’s just plain robbery,” retorted Karl. “And I also say it’s time we dumped those guys
and got our own sales force. Can you get your people to work up some cost figures for us to look
at?”
“We’ve already worked them up,” said Barbara. “Several companies we know about pay a
7.5% commission to their own salespeople, along with a small salary. Of course, we would have
to handle all promotion costs, too. We figure our fixed expenses would increase by $2,400,000
per year, but that would be more than offset by the $3,200,000 (20% × $16,000,000) that we
would avoid on agents’ commissions.”
The breakdown of the $2,400,000 cost follows:
Salaries:
Sales manager
$
100,000
Salespersons
600,000
Travel and entertainment
400,000
Advertising
1,300,000
Total
$
2,400,000
“Super,” replied Karl. “And I noticed that the $2,400,000 is just what we’re paying the agents
under the old 15% commission rate.”
“It’s even better than that,” explained Barbara. “We can actually save $75,000 a year because
that’s what we’re having to pay the auditing firm now to check out the agents’ reports. So our
overall administrative expenses would be less.”
“Pull all of these numbers together and we’ll show them to the executive committee
tomorrow,” said Karl. “With the approval of the committee, we can move on the matter
immediately.”
Required:
1.
Compute Pittman Company’s break-even point in dollar sales for next year assuming: (.
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You have been asked by management to explain the variances in costs under your inpatient capitated contract. The following data is provided. Use the following data to calculate the variances.
Budget
Actual
Inpatient Costs
$12,568,500
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Members
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42,000
Admission Rate
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Case Mix Index
0.90
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Cost per Case (CMI = 1.0)
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4
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10
Kaiser
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10
Self Pay
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40
50%
Question 3.
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320
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Variable Hours per Relative
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1.0
1.1
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1,000
1,200
Total Labor Hours
1,320
1,640
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Cost per RVU
$21.12
$23.23
Question 4.
Question 5.
Question 6.
Question 7.
.
Ms 04 accounting and finance for managers (4)
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Assignment 08Accounting for ManagersDirections Unless otherwis.docx
Assignment 08
Accounting for Managers
Directions Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format. Your response should be a minimum of one (1) single-spaced page to a maximum of two (2) pages in length; refer to the "Assignment Format" page for specific format requirements.
Horizontal and Vertical Analysis
Sanborn Corporation’s condensed comparative income statements for 20x8 and 20x7 appear below. The corporation’s condensed comparative balance sheets for 20x8 and 20x7 appear on the next page.
Sanborn Corporation
Comparative Income Statements
For the Years Ended December 31, 20x8 and 20x7
(in thousands of dollars)
20x8
20x7
Net sales
$3,276,800
$3,146,400
Cost of goods sold
2,088,800
2,008,400
Gross margin
$1,188,000
$1,138,000
Operating expenses
Selling expenses
$ 476,800
$ 518,000
Administrative expenses
447,200
423,200
Total operating expenses
$ 924,000
$ 941,200
Income from operations
$ 264,000
$ 196,800
Interest expense
65,600
39,200
Income before income taxes
$ 198,400
$ 157,600
Income taxes expense
62,400
56,800
Net income
$ 136,000
$ 100,800
Earnings per share
$3.40
$2.52
Sanborn Corporation
Comparative Balance Sheets
December 31, 20x8 and 20x7
20x8
20x7
Assets
Cash
$ 81,200
$ 40,800
Accounts receivable (net)
235,600
229,200
Inventory
574,800
594,800
Property, plant, and
equipment (net)
750,000
720,000
Total assets
$1,641,600
$1,584,800
Liabilities and Stockholders' Equity
Accounts payable
$ 267,600
$ 477,200
Notes payable (short-term)
200,000
400,000
Bonds payable
400,000
—
Common stock, $10 par value
400,000
400,000
Retained earnings
374,000
307,600
Total liabilities and
stockholders' equity
$1,641,600
$1,584,800
1.
Prepare schedules showing the amount and percentage changes from 20x7 to 20x8 for the comparative income statements and the balance sheets. You may use the forms below. (40 points)
Sanborn Corporation
Comparative Income Statements
For the Years Ended December 31, 20x8 and 20x7
(in thousands of dollars)
20x8
20x7
Increase or Decrease
Amount
Percentage
Net sales
$3,276,800
$3,146,400
Cost of goods sold
2,088,800
2,008,400
Gross margin
$1,188,000
$1,138,000
Operating expenses
Selling expenses
$ 476,800
$ 518,000
Administrative expenses
447,200
423,200
Total operating expenses
$ 924,000
$ 941,200
Income from operations
$ 264,000
$ 196,800
Interest expense
65,600
39,200
Income before income taxes
$ 198,400
$ 157,600
Income taxes expense
62,400
56,800
Net income
$ 136,000
$ 100,800
Earnings per share
$3.40
$2.52
Sanborn Corporation
Comparative Balance Sheets
December 31, 20x8 and 20x7
20x8
20x7
Increase or Decrease
Amount
Percentage
Assets
Cash
$ 81,200
$ 40,800
Accounts ...
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Please do not use the answer below; it has already been used. Please.docx
Please do not use the answer below; it has already been used. Please format it like the example below. Please give brief explanation of how you achieved calculations.
Huffman Trucking
Balance Sheet
(Unaudited)
December 31st
2006
2005
(In Thousands)
Assets
Current Assets
Cash & Cash Equivalents
$51,993
$38,893
Accounts Receivable
56,292
57,441
Prepaid Expenses & Supplies
3,443
3,343
Total Current Assets
$111,728
$99,677
Carrier Operating Property (at cost)
$73,024
$70,957
Less: Allowance for Depreciation
(57,536)
(55,477)
Net Carrier Operating Property
$15,488
$15,480
Assets of Discontinued Operations
16,192
18,891
Goodwill (net)
57,767
53,977
Other Assets
26,613
24,194
Total Assets
$227,788
$212,219
Liabilities and Shareholders' Equity
Current Liabilities
Accounts Payable
$47,124
$39,936
Salaries & Wages
29,753
27,048
Current Portion of Long-Term Debt
2,204
2,514
Freight & Casualty Claims Payable
9,746
8,941
Total Current Liabilities
$88,827
$78,439
Long-Term Liabilities
Accrued Pension & Post-Retirement Health Care
$58,362
$52,721
Long-Term Debt
13,431
15,318
Total Long-Term Liabilities
$71,793
$68,039
Shareholders' Equity
Common Stock
($1.00 par value Authorized: 20,000,000 shares)
$3.882
$3.882
Treasury Shares
(1.952)
(1.952)
Retained Earnings
67,166
65,739
Total Shareholders' Equity
$67,168
$65,741
Total Liabilities and Shareholders' Equity
$227,788
$212,219
$19,211
$18,802
Memo To: All Senior Staff From: Kristen Huffman, CEO & President Re: New Strategic Direction Thank you for attending our annual strategic planning session. Given recent changes in the economy and customer needs, a new direction for our company is necessary. After reviewing how other companies restructured themselves in recent years, we will mirror how UPS® conducts business as a partner/consultant with large customers. For our company, however, we will go a step further and become a warehousing/local just-in-time (JIT) delivery source, instead of providing logistics advice to clients, as UPS® does. To accomplish this, we must integrate this new direction into our upcoming strategic plan and financial planning. First, I need all department managers to prepare their budgets. I would also like our accounting department to move ahead on a preliminary set of pro forma statements, even without final budgets, using the following assumptions. They must determine if external funding is needed. I have attached a summary of assumptions about this new direction. New Strategic Direction Page 2 1. Assume inflation of 4% on expenses, not including depreciation and taxes. This is in addition to the new initiative’s costs. New Strategic Initiative Assumptions Huffman may overcome increased competition and economic slowdown by initiating a new strategy; this will turn our company into a one-stop shop and key logistics company. We will provide consulting services, generate revenues, and become a JIT warehouse/delivery source. A local retailer selling products .
Pittman Company is a small but growing manufacturer of telecommunica.pdf
Pittman Company is a small but growing manufacturer of telecommunications equipment. The
company has no sales force of its own; rather, it relies completely on independent sales agents to
market its products. These agents are paid a sales commission of 15% for all items sold.
Barbara Cheney, Pittman’s controller, has just prepared the company’s budgeted income
statement for next year. The statement follows:
Pittman Company
Budgeted Income Statement
For the Year Ended December 31
Sales
$
16,000,000
Manufacturing expenses:
Variable
$
7,200,000
Fixed overhead
2,340,000
9,540,000
Gross margin
6,460,000
Selling and administrative expenses:
Commissions to agents
2,400,000
Fixed marketing expenses
120,000*
Fixed administrative expenses
1,800,000
4,320,000
Net operating income
2,140,000
Fixed interest expenses
540,000
Income before income taxes
1,600,000
Income taxes (30%)
480,000
Net income
$
1,120,000
*Primarily depreciation on storage facilities.
As Barbara handed the statement to Karl Vecci, Pittman’s president, she commented, “I went
ahead and used the agents’ 15% commission rate in completing these statements, but we’ve just
learned that they refuse to handle our products next year unless we increase the commission rate
to 20%.”
“That’s the last straw,” Karl replied angrily. “Those agents have been demanding more and
more, and this time they’ve gone too far. How can they possibly defend a 20% commission
rate?”
“They claim that after paying for advertising, travel, and the other costs of promotion, there’s
nothing left over for profit,” replied Barbara.
“I say it’s just plain robbery,” retorted Karl. “And I also say it’s time we dumped those guys
and got our own sales force. Can you get your people to work up some cost figures for us to look
at?”
“We’ve already worked them up,” said Barbara. “Several companies we know about pay a
7.5% commission to their own salespeople, along with a small salary. Of course, we would have
to handle all promotion costs, too. We figure our fixed expenses would increase by $2,400,000
per year, but that would be more than offset by the $3,200,000 (20% × $16,000,000) that we
would avoid on agents’ commissions.”
The breakdown of the $2,400,000 cost follows:
Salaries:
Sales manager
$
100,000
Salespersons
600,000
Travel and entertainment
400,000
Advertising
1,300,000
Total
$
2,400,000
“Super,” replied Karl. “And I noticed that the $2,400,000 is just what we’re paying the agents
under the old 15% commission rate.”
“It’s even better than that,” explained Barbara. “We can actually save $75,000 a year because
that’s what we’re having to pay the auditing firm now to check out the agents’ reports. So our
overall administrative expenses would be less.”
“Pull all of these numbers together and we’ll show them to the executive committee
tomorrow,” said Karl. “With the approval of the committee, we can move on the matter
immediately.”
Required:
1.
Compute Pittman Company’s break-even point in dollar sales for next year assuming: (.
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BEAUTIFUL LAKE / TUTORIALOUTLET DOT COM
- 1. Beautiful Lake FOR MORE CLASSES VISIT www.tutorialoutlet.com Use the following information for questions 9 through 12. Rembrant Hotel & Casino is situated on beautiful Lake Tahoe in Nevada. The complex includes a 300room hotel, a casino, and a restaurant (considered as three divisions). Below is income statement information for 2013: Casino Restaurant Hotel Revenues Direct costs Division margin $5,256,000 $12,340,000 $16,425,000 7,508,050 2,866,710 3,276,240 8,916,950 2,389,290 9,063,760 Estimated corporate fixed overhead costs are $14,550,000 (detailed below). Historically these costs have been allocated based upon division margin (the ability to bear). Management is considering using ActivityBased Costing to assign these costs. Below is a breakdown of the fixed corporate costs and their suggested ABC drivers: Cost pool Advertising costs HR and administrative costs Maintenance costs Total Pool costs Suggested driver $4,500,000 Division revenues 6,000,000 Number of employees 4,050,000 Square feet $14,550,000 Using these Pool Costs, the cost driver rates for the three cost pools are given below: Cost pool Cost driver rate Advertising costs
- 2. HR and administrative costs Maintenance costs $25.3125 per dollar of revenue $12,000 per employee $0.132271 These CostDriver Rates are based upon the following data on the three divisions: Hotel Floor space (square feet) 80,000 Restaurant Casino 16,000 64,000 Number of employees 200 50 250 1. Using division margin (the historical basis for allocating corporate fixed overhead costs), what are the assigned corporate fixed overhead costs for the Hotel division (rounded to the nearest dollar)? $6,369,250 $7,024,595 $6,474,114 $6,597,555 2. Using ABC, what amount of Advertising costs are assigned to the Hotel division (rounded to the nearest dollar)? 2,319,395 2,400,000 2,172,555 2,025,000 3. Using ABC, Using ABC, what amount of HR and administration costs are assigned to the Hotel division (rounded to the nearest dollar)? 2,319,395 2,400,000
- 3. 2,172,555 2,025,000 4. Using ABC, Using ABC, what amount of maintenance costs are assigned to the Hotel division (rounded to the nearest dollar)? 2,319,395 2,400,000 2,172,555 2,025,000