Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income...
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 North South Total store Store Sales $4,100,000 $860.000 $1.640.000 Cost of goods sold 2,255,000 515,000...
Required:1. How much employee salaries will the company avoid if it closes the North Store?2. How much employment taxes will the company avoid if it closes the North Store?3. What is the financial advantage (disadvantage) of closing the North Store?4. Assuming that the North Store's floor space can’t be subleased, would you recommend closing the North Store?5. Assume that the North Store's floor space can’t be subleased. However, let's introduce three more assumptions. First, assume that if the North Store...
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: East Store $1,760,000 Superior Markets, Inc. Income Statement For the Quarter Ended September 30 North South Total Store Store Sales $4,400,000 $880,000 $1,760,000 Cost of goods sold 2,420,000 525,000 927,000 Gross margin 1,980,000 355,000 833,000 Selling and administrative expenses Selling expenses 845,000 245, 400 322,000 Administrative expenses 453,000 120,000 171,900 Total expenses 1,298,000...
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 North Total Store Sales $4,600,000 $920,000 Cost of goods sold 2,530,000 565,000 Gross margin 2,070,000 355,000 Selling and administrative expenses: Selling expenses 849,000 247,400 Administrative expenses 463,000 122,000 Total expenses 1,312,000 369,400 Net operating income (loss) $ 758,000 $(14,400) South Store $1,840,000...
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 North South Total Store Store Sales $4,000,000 $840,000 $1,600,000 Cost of goods sold 2,200,000 495,000 847,000 Gross margin 1,800,000 345,000 7 53,000 Selling and administrative expenses : Selling expenses 837,000 241,400 320,000 Administrative expenses 433.000 116,000 165,900 Total expenses 1,270,000 357,400 485,900...
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 Total North Store South Store East Store Sales $ 4,800,000 $ 960,000 $ 1,920,000 $ 1,920,000 Cost of goods sold 2,640,000 600,000 984,000 1,056,000 Gross margin 2,160,000 360,000 936,000 864,000 Selling and administrative expenses: Selling expenses 853,000 249,400 324,000 279,600 Administrative expenses...
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 Total North Store South Store East Store Sales $ 3,200,000 $ 740,000 $ 1,280,000 $ 1,180,000 Cost of goods sold 1,760,000 423,000 688,000 649,000 Gross margin 1,440,000 317,000 592,000 531,000 Selling and administrative expenses: Selling expenses 821,000 233,400 316,000 271,600 Administrative expenses...
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 North South Total Store Store Sales $4,600,000 $920,000 $1,840,000 Cost of goods sold 2,530,000 565,000...
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 North South Total Store Store Sales $4,400,000 $880,000 $1,760,000 Cost of goods sold 2,420,000 525, 000 927,000 Gross margin 1,980,000 355,000 833,000 Selling and administrative expenses : Selling expenses 845,000 245,400 322,000 Administrative expenses 453,000 120,000 171,900 Total expenses 1,298,000 365, 400...
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement fo company for the last quarter is given below: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 North Total Store Sales $4,000,000 $840,000 Cost of goods sold 2,200,000 495,000 Gross margin 1,800,000 345,000 Selling and administrative expenses: Selling expenses 837,000 241,400 Administrative expenses 433,000 116,000 Total expenses 1,270,000 357,400 Net operating income (loss) $ 530,000 $(12,400) South Store $1,600,000 847,000...