Homework Answers
Answer to Q.1: Gross Profit for VIVA Sports?
$ 3,08,600
Refer to attached image for detail explaination:
Answer to Q.2: What is Valentine Gross & Net Profit?
Gross Profit: $ 48,17,500
Net Profit: $ 45,62,500
Refer to attached image for detail explaination:
Add Answer to:
Gross & Net Profit Problems: 1. Viva Sports Incorporated, an adult sport and recreation company ran...
2. Valentine Productions, is a production company plan and produces lighting, staging, music, and subcontracts other...
2. Valentine Productions, is a production company plan and produces lighting, staging, music, and subcontracts other area of a full event experience. With over 15 full time staff, their payroll is their biggest cost. The average payroll for each employee is $35,000 per year. Last year they hit it out of the park, and their annual sales were at $5,500,000. Before they could all celebrate the CEO Tim wanted to see their overall gross and net profit margins. Besides their...
Problems P16-28. Profit Planning with Taxes Carron Net Company manufactures sports nets for virtually every outdoor...
Problems P16-28. Profit Planning with Taxes Carron Net Company manufactures sports nets for virtually every outdoor sport. Assume Carron sells nets for $50, on average, per unit. Last year, the company manufactured and sold 30,000 nets to obtain an after-tax profit of $275,000. Variable and fixed costs follow. LO3 Carron Net Company Variable Costs per Unit Manufacturing. Selling and administrative Total Fixed Costs per Year $20 Manufacturing.. 4 Selling and administrative. $24 Total $232,250 204,000 $436,250 Required a. Determine the...
Requirement 1. Supply Gross Profit Company Sutherland Company Sutherland Crossen Williams Scott Beginning Net E nding...
Requirement 1. Supply Gross Profit Company Sutherland Company Sutherland Crossen Williams Scott Beginning Net E nding Net Sales Inventory Purchases Inventory $ 100,000 $ 20,000 $ 59,000 $ 16,000 125,000 28,000 (c) 45,000 (1) 52,000 20,000 88,000 7,000 29,000 (g) Cost of Goods Sold (a) (d) 60,000 33,000 52,000 36,000 (0) Print Done Enter any number in the Clear All Check Answer 4 parts Tremaining ype here to search $ Review the income statement data for each of the following...
LOL (the “Company”), an SEC registrant with a calendar year-end, is a manufacturer and distributor of sports equipment....
LOL (the “Company”), an SEC registrant with a calendar year-end,
is a manufacturer and distributor of sports equipment. The Company
was created in 1989 and is headquartered in Southern California.
The Company has manufacturing operations and numerous sales and
administrative locations in the United States. LOL files a
consolidated U.S. federal tax return. (This case will not consider
the evaluation of the state jurisdictions; it will only consider
the federal jurisdiction.)
As LOL’s auditors, you are now performing the Company’s...
INVOLVE was incorporated as a not-for-profit voluntary health and welfare organization on January 1, 2017. During...
INVOLVE was incorporated as a not-for-profit voluntary health and welfare organization on January 1, 2017. During the fiscal year ended December 31, 2017, the following transactions occurred. please show calculations for journal entries 1. A business donated rent-free office space to the organization that would normally rent for $35,000 a year. 2. A fund drive raised $185,000 in cash and $100,000 in pledges that will be paid within one year. A state government grant of $150,000 was received for program...
INVOLVE was incorporated as a not-for-profit voluntary health and welfare organization on January 1, 2020. During the fi...
INVOLVE was incorporated as a not-for-profit voluntary health and welfare organization on January 1, 2020. During the fiscal year ended December 31, 2020, the following transactions occurred. A business donated rent-free office space to the organization that would normally rent for $35,600 a year. A fund drive raised $188,000 in cash and $106,000 in pledges that will be paid within one year. A state government grant of $156,000 was received for program operating costs related to public health education. Salaries...
Cost benefit analysis for the Long Engineering Company The Long Engineering Company (LEC) has decided...
Cost benefit analysis for the
Long Engineering Company
The Long Engineering Company (LEC) has decided to install a network
system to help their technical support engineers (five of them who
earn an average of $100,000 each per year) to deliver better
customer service including: mail out sales and other literature,
answer phone calls for technical assistance and log and forward
repair requests using an alpha-numeric paging system that will be
part of the new network system. Currently all company...
Question 1: What is a joint venture and why might two construction firms choose to form...
Question 1: What is a joint venture and why might two construction firms choose to form one? (4 points) Case Study 1: Please answer the first 4 questions with the following case data for Project 101 and Project 102. A construction company began operations on January 2, 2010. During the year the company was awarded three construction contracts. The company incurred $300,000 operating expenses for the year for which $275,000 has been paid while the balance is owed as of...
This is the question , honestly , you could skip the garbage at first and jump...
This is the question , honestly , you could skip the garbage at
first and jump to the Question section.
below is my excel sheet , I need to do the 4 requirements under
the Question section.
to make your life easier you could copy the numbers from my
sheet but i dont know how the function work exactly , as the
professor is the one who sets it up.
IEN 363 Spring 2019 Fnancial Analys1S Assignment ost benefit analysis...
CASE 5–33 Cost Structure; Break-Even and Target Profit Analysis LO5–4, LO5–5, LO5–6 Pittman Company is a...
CASE 5–33 Cost Structure; Break-Even and Target Profit Analysis LO5–4, LO5–5, LO5–6 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 as follows: Pittman Company Budgeted Income Statement For...
2. Valentine Productions, is a production company plan and produces lighting, staging, music, and subcontracts other area of a full event experience. With over 15 full time staff, their payroll is their biggest cost. The average payroll for each employee is $35,000 per year. Last year they hit it out of the park, and their annual sales were at $5,500,000. Before they could all celebrate the CEO Tim wanted to see their overall gross and net profit margins. Besides their...
Problems P16-28. Profit Planning with Taxes Carron Net Company manufactures sports nets for virtually every outdoor sport. Assume Carron sells nets for $50, on average, per unit. Last year, the company manufactured and sold 30,000 nets to obtain an after-tax profit of $275,000. Variable and fixed costs follow. LO3 Carron Net Company Variable Costs per Unit Manufacturing. Selling and administrative Total Fixed Costs per Year $20 Manufacturing.. 4 Selling and administrative. $24 Total $232,250 204,000 $436,250 Required a. Determine the...
Requirement 1. Supply Gross Profit Company Sutherland Company Sutherland Crossen Williams Scott Beginning Net E nding Net Sales Inventory Purchases Inventory $ 100,000 $ 20,000 $ 59,000 $ 16,000 125,000 28,000 (c) 45,000 (1) 52,000 20,000 88,000 7,000 29,000 (g) Cost of Goods Sold (a) (d) 60,000 33,000 52,000 36,000 (0) Print Done Enter any number in the Clear All Check Answer 4 parts Tremaining ype here to search $ Review the income statement data for each of the following...
LOL (the “Company”), an SEC registrant with a calendar year-end,
is a manufacturer and distributor of sports equipment. The Company
was created in 1989 and is headquartered in Southern California.
The Company has manufacturing operations and numerous sales and
administrative locations in the United States. LOL files a
consolidated U.S. federal tax return. (This case will not consider
the evaluation of the state jurisdictions; it will only consider
the federal jurisdiction.)
As LOL’s auditors, you are now performing the Company’s...
Cost benefit analysis for the
Long Engineering Company
The Long Engineering Company (LEC) has decided to install a network
system to help their technical support engineers (five of them who
earn an average of $100,000 each per year) to deliver better
customer service including: mail out sales and other literature,
answer phone calls for technical assistance and log and forward
repair requests using an alpha-numeric paging system that will be
part of the new network system. Currently all company...
Question 1: What is a joint venture and why might two construction firms choose to form one? (4 points) Case Study 1: Please answer the first 4 questions with the following case data for Project 101 and Project 102. A construction company began operations on January 2, 2010. During the year the company was awarded three construction contracts. The company incurred $300,000 operating expenses for the year for which $275,000 has been paid while the balance is owed as of...
This is the question , honestly , you could skip the garbage at
first and jump to the Question section.
below is my excel sheet , I need to do the 4 requirements under
the Question section.
to make your life easier you could copy the numbers from my
sheet but i dont know how the function work exactly , as the
professor is the one who sets it up.
IEN 363 Spring 2019 Fnancial Analys1S Assignment ost benefit analysis...
Most questions answered within 3 hours.
-
A speeding car is traveling along a straight road with a
constant speed of 100 km/hour....
asked 10 minutes ago -
When 60.1 gg of calcium is reacted with nitrogen gas, 31.7 gg of
calcium nitride is...
asked 14 minutes ago -
The random variable X is exponentially distributed, where X
represents the time it takes for a...
asked 29 minutes ago -
a) Write a verilog module for 1:4 Demultiplexer using verilog
primitives.
b) Design 1-to-4 DEMUX using...
asked 24 minutes ago -
MATLAB
write a MATLAB function (1) output a third-order polynomial
function with the coefficients as the...
asked 37 minutes ago -
A z-score
communicates a raw score’s "relative standing"
under the normal curve in relation to:
asked 45 minutes ago -
An object is vibrating on a spring with the following equation
of motion:
?=(30 ??)cos((2?)/(160)?)
a)...
asked 45 minutes ago -
Vulcan Flyovers offers scenic overflights of Mount St. Helens,
the volcano in Washington State that explosively...
asked 47 minutes ago -
If organizations do not adapt fast enough and move incrementally
from the twentieth-century model to the...
asked 48 minutes ago -
A helium balloon with 2.5L of gas has a gauge pressure of 10,000
Pa. The balloon...
asked 52 minutes ago -
What is responsible for Jupiter's enormous magnetic field?
asked 1 hour ago -
At the end of the year, a company offered to buy 5,000 units of
a product...
asked 1 hour ago