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Analyze Operational Changes Richmonds is a restore with eight departments, including a garden department that has...
Analyze Operational Changes Richmond's is a retail store with eight departments, including a garden department that...
Analyze Operational Changes Richmond's is a retail store with eight departments, including a garden department that has been operating at a loss. The following condensed income statement gives the latest year's operating results: Garden Department All Other Departments Sales $840,000 $6,000,000 Cost of sales 504,000 3,900,000 Gross profit 336,000 2,100,000 Direct expenses 270,000 682,500 Common expenses 120,000 780,000 Total expenses 390,000 1,462,500 Net income (Loss) $(54,000) $637,500 a. Calculate the gross profit percentage for the garden department and for the...
Analyze Operational Changes Richmond's is a retail store with eight departments, including a garden department that...
Analyze Operational Changes Richmond's is a retail store with eight departments, including a garden department that has been operating at a loss. The following condensed income statement gives the latest year's operating results: Garden Department All Other Departments Sales $588,000 $4,200,000 Cost of sales 352,800 2,730,000 Gross profit 235,200 1,470,000 Direct expenses 189,000 477,750 Common expenses 84,000 546,000 Total expenses 273,000 1,023,750 Net income (Loss) $(37,800) $446,250 a. Calculate the gross profit percentage for the garden department and for the...
Sales Analyzing Operational Changes Operating results for department B of Delta Company during 2016 are as...
Sales Analyzing Operational Changes Operating results for department B of Delta Company during 2016 are as follows: $547,000 Cost of goods sold 378,000 Gross profit 169,000 Direct expenses 120,000 Common expenses 66,000 Total expenses 186,000 Net loss $(17,000) Suppose that department B could increase physical volume of product sold by 10% if it spent an additional $19,500 on advertising while leaving selling prices unchanged. What effect would this have on the department's net income or net loss? (Ignore income tax...
Analyzing Operational Changes Operating results for department B of Delta Company during 2016 are as follows:...
Analyzing Operational Changes Operating results for department B of Delta Company during 2016 are as follows: Sales $538,000 Cost of goods sold 378,000 Gross profit 160,000 Direct expenses 120,000 Common expenses 66,000 Total expenses 186,000 Net loss $(26,000) Suppose that department B could increase physical volume of product sold by 10% if it spent an additional $17,000 on advertising while leaving selling prices unchanged. What effect would this have on the department's net income or net loss? (Ignore income tax...
Analyzing Operational Changes Operating results for department B of Delta Company during 2016 are as follows:...
Analyzing Operational Changes Operating results for department B of Delta Company during 2016 are as follows: Sales $552,000 Cost of goods sold 378,000 Gross profit 174,000 Direct expenses 120,000 Common expenses 66,000 Total expenses 186,000 Net loss $(12,000) Suppose that department B could increase physical volume of product sold by 10% if it spent an additional $19,000 on advertising while leaving selling prices unchanged. What effect would this have on the department's net income or net loss? (Ignore income tax...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except department 4. Operating data for 2019 are as follows: Total Departments 1-3 Department 4 Sales $1,000,000 $900,000 $100,000 Cost of sales 631,000 558,000 73,000 Gross profit 369,000 342,000 27,000 Direct expenses $144,000 $120,000 $24,000 Common expenses 107,000 96,000 11,000 Total expenses 251,000 216,000 35,000 Net income (Loss) $118,000 $126,000 $(8,000) Required a. Calculate the gross profit percentage for departments 1-3 combined and for department...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except department 4. Operating data for 2019 are as follows: Total Departments 1-3 Department 4 Sales $1,950,000 $1,550,000 $400,000 Rectangular Snip Cost of sales 328,000 1,413,000 1,085,000 Gross profit 537,000 465,000 72,000 Direct expenses $144,000 $120,000 $24,000 Common expenses 205,000 145,000 60,000 Total expenses 84,000 349,000 265,000 $188,000 $200,000 $(12,000) Net income (Loss) Required a. Calculate the gross profit percentage for departments 1-3 combined and...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except department 4. Operating data for 2019 are as follows: Total Departments 1-3 Department 4 Sales $1,550,000 $1,250,000 $300.000 234,000 66,000 Cost of sales 1,109,000 875,000 Gross profit Direct expenses 441,000 375,000 $120,000 $144,000 $24,000 Common expenses 183,000 134,000 49,000 Total expenses 327,000 254.000 73,000 Net income (Loss) $114.000 $121,000 S17,000) Required a. Calculate the gross profit percentage for departments 1-3 combined and for department...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except department 4. Operating data for 2019 are as follows: Total Departments 1-3 Department 4 Sales $2,100,000 $1,650,000 $450,000 Cost of sales 1,326,000 1,006,500 319,500 Gross profit 774,000 643,500 130,500 Direct expenses $144,000 $120,000 $24,000 Common expenses 316,000 200,500 115,500 Total expenses 460,000 320,500 139,500 Net income (LOSS) $314,000 $323,000 $(9,000) Required a. Calculate the gross profit percentage for departments 1-3 combined and for department...
Thomas Corporation has four departments, all of which appear to be profitable except department 4. Operating data for 2019 are as follows:
Dropping Unprofitable DepartmentThomas Corporation has four departments, all of which appear to be profitable except department 4. Operating data for 2019 are as follows:TotalDepartments 1-3Department 4Sales$962,000$810,000$152,000Cost of sales640,500526,500114,000Gross profit$321,500$283,500$38,000Direct expenses$144,000$120,000$24,000Common expenses127,000106,00021,000Total expenses$271,000$226,000$45,000Net income (Loss)$50,500$57,500$(7,000)Requireda. Calculate the gross profit percentage for departments 1-3 combined and for department 4.Department 1-3 Answer%Department 4 Answer%b. What effect would elimination of department 4 have had on total firm net income? (Ignore the effect of income tax.)The firm's net income would be: $Answer
Sales Analyzing Operational Changes Operating results for department B of Delta Company during 2016 are as follows: $547,000 Cost of goods sold 378,000 Gross profit 169,000 Direct expenses 120,000 Common expenses 66,000 Total expenses 186,000 Net loss $(17,000) Suppose that department B could increase physical volume of product sold by 10% if it spent an additional $19,500 on advertising while leaving selling prices unchanged. What effect would this have on the department's net income or net loss? (Ignore income tax...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except department 4. Operating data for 2019 are as follows: Total Departments 1-3 Department 4 Sales $1,950,000 $1,550,000 $400,000 Rectangular Snip Cost of sales 328,000 1,413,000 1,085,000 Gross profit 537,000 465,000 72,000 Direct expenses $144,000 $120,000 $24,000 Common expenses 205,000 145,000 60,000 Total expenses 84,000 349,000 265,000 $188,000 $200,000 $(12,000) Net income (Loss) Required a. Calculate the gross profit percentage for departments 1-3 combined and...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except department 4. Operating data for 2019 are as follows: Total Departments 1-3 Department 4 Sales $1,550,000 $1,250,000 $300.000 234,000 66,000 Cost of sales 1,109,000 875,000 Gross profit Direct expenses 441,000 375,000 $120,000 $144,000 $24,000 Common expenses 183,000 134,000 49,000 Total expenses 327,000 254.000 73,000 Net income (Loss) $114.000 $121,000 S17,000) Required a. Calculate the gross profit percentage for departments 1-3 combined and for department...
Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be profitable except department 4. Operating data for 2019 are as follows: Total Departments 1-3 Department 4 Sales $2,100,000 $1,650,000 $450,000 Cost of sales 1,326,000 1,006,500 319,500 Gross profit 774,000 643,500 130,500 Direct expenses $144,000 $120,000 $24,000 Common expenses 316,000 200,500 115,500 Total expenses 460,000 320,500 139,500 Net income (LOSS) $314,000 $323,000 $(9,000) Required a. Calculate the gross profit percentage for departments 1-3 combined and for department...
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