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Required: (1) The price and volume variances for sales and cost (2) The sales mix and final sales volume variances.
EXERCISES Gross profit analysis. A cost analyst of the Memphis Company has prepared a monthly gross ofit analysis, comparing actual to budget for its two products, Alco and Bacco. June budget and ctual data show SALES Unit Price Amount COST OF GooDs SOLD GROSS PROFIT Per Unit Unit Cost Units Amount Amount Budget: 8,000 $20.00 $160,000 $16.00 $128,000 $4.00 58,800 12.0 $32,000 8,400 12,200 $17.9344 $218,800 $14.6229 $178.400 $3.3115 $40,400 $33,750 50,400 2.00 Total budge Actual Alco 7,500 $21.00 $157,500 $16.50 $123,750 $4.50 60,750 11.50 51,750 2.00 9,000 Weighted average equired: (1) The price and volume variances for sales and cost (2) The sales mix and final sales volume variances Gross profit analysis. The Summers Sporting Goods Shop presents the following data for two
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Gross profit analysls. The Summers Sporting Goods Shop presents the following data for two of rac...
Sports Emporium has two operating segments: sporting goods and sports apparel. The income stateme...
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Sports Emporium has two operating segments: sporting goods and sports apparel. The income statement for each operating segment is presented below Required 1. Complete the"%" columns to be used in a vertical analysis of Sports Emporium's two operating segments. Express each amount as a prcentage of sales. Round your answers to 1 decimal place.) SPORTS EMPORIUM Income Statement For the Year Ended December 31, 2018 Sporting Goods Sports Apparel Amount $1.800,000 1,040,000 760,000 450,000 310,000 20,000 330,000 80,000 $250,000...
Sports Emporium has two operating segments: sporting goods and sports apparel. The income statement for each...
Sports Emporium has two operating segments: sporting goods and sports apparel. The income statement for each operating segment is presented below. Required: 1. Complete the "%" columns to be used in a vertical analysis of Sports Emporium's two operating segments. Express each amount as a percentage of sales. (Round your answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income SPORTS EMPORIUM...
Hill Industries had sales in 2019 of $6,800,000 and gross profit of $1,100,000. Management is considering two alternativ...
Hill Industries had sales in 2019 of $6,800,000 and gross profit
of $1,100,000. Management is considering two alternative budget
plans to increase its gross profit in 2020.
Plan A would increase the selling price per unit from $8.00 to
$8.40. Sales volume would decrease by 10% from its 2019 level. Plan
B would decrease the selling price per unit by $0.50. The marketing
department expects that the sales volume would increase by 100,000
units.
At the end of 2019, Hill...
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods...
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three retailers of fine jewelry, Tiffany & Co., Zale Corporation, and Blue Nile, Inc. (an Internet retailer). (5 millions) 2013 2012 Tiffany & Co. Revenues $4,031 $3,794 Cost of goods sold 1,091 1,631 Inventory 2.327 2.234 Zale Corporation Revenues 51,885 51.867 Cost of goods sold 904 906 Inventory 768 742 Blue Nile, Inc Revenues 5450 5400 Cost of goods...
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods...
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three retailers of fine jewelry, Tiffany & Co., Zale Corporation, and Blue Nile, Inc. (an Internet retailer). 2013 2012 $4,031 53,794 1,091 1,631 2.327 2.234 (5 millions) Tiffany & Co. Revenues cost of goods sold Inventory Zale Corporation Revenues Cost of goods sold Inventory Blue Nile, Inc. Revenues cost of goods sold Inventory 51.888 $1.867 904 906 768 742...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering two alte...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering two alternative budget plans to increase its gross profit in 2017. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2016 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 102,000 units. At the end of 2016, Sheffield...
Profit Center Responsibility Reporting Glades Sporting Goods Co. operates two divisions-the Winte...
Profit Center Responsibility Reporting Glades Sporting Goods Co. operates two divisions-the Winter Sports Division and the Summer Sports Division. The following income and expense accounts were provided from the trial balance as of December 31 20Y8, the end of the fiscal year, after all adjustments, including those for inventories, were recorded and posted $24,255,000 26,796,000 14,553,000 15,477,000 4,158,000 3,696,000 2,425,500 2,379,300 882,000 467,200 224,000 2,310,000 Sales-Winter Sports Division Sales-Summer Sports Division Cost of Goods Sold-Winter Sports Division Cost of Goods...
Calculating Gross Profit and Inventory Turnover The following table presents sales revenue, cost of goods sold,...
Calculating Gross Profit and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three computer/electronics companies, Samsung Electronics Co., Hewlett- Packard Company, and Apple Inc. Smilliens Fiscal year ending Samsung Electronics Co. Ltd. S. Korean Won Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Revenues 206,205,987 228,602,667 201,103,613 Cost of goods sold 128.273,800 137,696,309 126,651,931 Inventory 17,317.504 19.134.868 17,747,413 Hewlett-Packard Company (US dollar) Oct. 31, 2014 Oct. 31, 2013 Oct. 31, 2012...
Sales (240,000 units) $1,200,000 Cost of goods sold 768,000 Gross profit 432,000 Operating expenses Selling $280,000...
Sales (240,000 units) $1,200,000 Cost of goods sold 768,000 Gross profit 432,000 Operating expenses Selling $280,000 Administrative 156,000 436,000 Net loss$ (4,000) A cost behavior analysis indicates that 75% of the cost of goods sold are variable, 42% of the selling expenses are variable, and 40% of the administrative expenses are variable. Crane has proposed a plan to get the partnership “out of the red” and improve its profitability. She feels that the quality of the product could be substantially improved...
Problem 21-3A (Part Level Submission) Hill Industries had sales in 2016 of $7,120,000 and gross profit...
Problem 21-3A (Part Level Submission) Hill Industries had sales in 2016 of $7,120,000 and gross profit of $1,274,000. Management is considering two alternative budget plans to increase its gross profit in 2017. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2016 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 104,000 units. At...
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Sports Emporium has two operating segments: sporting goods and sports apparel. The income statement for each operating segment is presented below Required 1. Complete the"%" columns to be used in a vertical analysis of Sports Emporium's two operating segments. Express each amount as a prcentage of sales. Round your answers to 1 decimal place.) SPORTS EMPORIUM Income Statement For the Year Ended December 31, 2018 Sporting Goods Sports Apparel Amount $1.800,000 1,040,000 760,000 450,000 310,000 20,000 330,000 80,000 $250,000...
Sports Emporium has two operating segments: sporting goods and sports apparel. The income statement for each operating segment is presented below. Required: 1. Complete the "%" columns to be used in a vertical analysis of Sports Emporium's two operating segments. Express each amount as a percentage of sales. (Round your answers to 1 decimal place.) Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expense) Income before tax Income tax expense Net income SPORTS EMPORIUM...
Hill Industries had sales in 2019 of $6,800,000 and gross profit
of $1,100,000. Management is considering two alternative budget
plans to increase its gross profit in 2020.
Plan A would increase the selling price per unit from $8.00 to
$8.40. Sales volume would decrease by 10% from its 2019 level. Plan
B would decrease the selling price per unit by $0.50. The marketing
department expects that the sales volume would increase by 100,000
units.
At the end of 2019, Hill...
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three retailers of fine jewelry, Tiffany & Co., Zale Corporation, and Blue Nile, Inc. (an Internet retailer). (5 millions) 2013 2012 Tiffany & Co. Revenues $4,031 $3,794 Cost of goods sold 1,091 1,631 Inventory 2.327 2.234 Zale Corporation Revenues 51,885 51.867 Cost of goods sold 904 906 Inventory 768 742 Blue Nile, Inc Revenues 5450 5400 Cost of goods...
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three retailers of fine jewelry, Tiffany & Co., Zale Corporation, and Blue Nile, Inc. (an Internet retailer). 2013 2012 $4,031 53,794 1,091 1,631 2.327 2.234 (5 millions) Tiffany & Co. Revenues cost of goods sold Inventory Zale Corporation Revenues Cost of goods sold Inventory Blue Nile, Inc. Revenues cost of goods sold Inventory 51.888 $1.867 904 906 768 742...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering two alternative budget plans to increase its gross profit in 2017. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2016 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 102,000 units. At the end of 2016, Sheffield...
Profit Center Responsibility Reporting Glades Sporting Goods Co. operates two divisions-the Winter Sports Division and the Summer Sports Division. The following income and expense accounts were provided from the trial balance as of December 31 20Y8, the end of the fiscal year, after all adjustments, including those for inventories, were recorded and posted $24,255,000 26,796,000 14,553,000 15,477,000 4,158,000 3,696,000 2,425,500 2,379,300 882,000 467,200 224,000 2,310,000 Sales-Winter Sports Division Sales-Summer Sports Division Cost of Goods Sold-Winter Sports Division Cost of Goods...
Calculating Gross Profit and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three computer/electronics companies, Samsung Electronics Co., Hewlett- Packard Company, and Apple Inc. Smilliens Fiscal year ending Samsung Electronics Co. Ltd. S. Korean Won Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Revenues 206,205,987 228,602,667 201,103,613 Cost of goods sold 128.273,800 137,696,309 126,651,931 Inventory 17,317.504 19.134.868 17,747,413 Hewlett-Packard Company (US dollar) Oct. 31, 2014 Oct. 31, 2013 Oct. 31, 2012...
Problem 21-3A (Part Level Submission) Hill Industries had sales in 2016 of $7,120,000 and gross profit of $1,274,000. Management is considering two alternative budget plans to increase its gross profit in 2017. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2016 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 104,000 units. At...
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