Homework Answers
Gross margin percentage show gross profit as a percentage of sale
Inventory turnover ratio shoe how efficiently company managed to generate sale from inventory.
Days to sell indicates how many days taken by company to sell inventory.
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The following accounting Information pertalns to Boardwalk Taffy and Beach Sweets. The only difference between the...
The following accounting information pertains to Boardwalk Taffy and Beach Sweets. The only difference between the...
The following accounting information pertains to Boardwalk Taffy and Beach Sweets. The only difference between the two companies is that Boardwalk Taffy uses FIFO, while Beach Sweets uses LIFO. Cash Accounts receivable Merchandise inventory Accounts payable Cost of goods sold Building Sales Boardwalk Taffy $ 85,000 330,000 240,000 245,000 1,224,000 300,000 2,100,000 Beach Sweets $ 35,000 330,000 178,000 245,000 1, 228, 200 300,000 2,100,000 Required a-1. Compute the gross margin percentage for each company. a-2. Identify the company that appears...
Check my work Zachary Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens...
Check my work Zachary Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens from farmers and processes them into two different products: chicken drumsticks and chicken steak. From a standard batch of 23,000 pounds of raw chicken that costs $14,200, the company produces two parts: 2,500 pounds of drumsticks and 6,000 pounds of breast for a processing cost of $2,282. The chicken breast is further processed into 5,200 pounds of steak for a processing cost of $3,300....
mation apk in-proce cost of com Required information The following information applies to the questions displayed...
mation apk in-proce cost of com Required information The following information applies to the questions displayed below.) Pacific Ink had beginning work-in-process inventory of $890,960 on October 1. of this amount, $358,200 was the cost of direct materials and 5532,760 was the cost of conversion. The 62,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs. During October, 130,000 units were transferred out and 44,000 remained in ending inventory. The units...
The following accounting information pertains to two grocery store chains. One grocery store chain has a...
The following accounting information pertains to two grocery
store chains. One grocery store chain has a market strategy of
selling only high end organic food products while the other grocery
store sells less expensive foods that are traditionally grown with
the use of pesticides, synthetic fertilizers, and/or genetically
modified organisms.
The company selling traditional produced foods has an average
inventory balance of $45,000, while the company selling organic
foods has an average inventory balance of $40,000.
a. Complete the table...
Required information (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets...
Required information (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,821 89,600 110,500 9,281 260, 262 $ 498,464 $ 33,689 $ 35,451...
The following data are available for two divisions of Solomons Company North Division South Division Division...
The following data are available for two divisions of Solomons Company North Division South Division Division operating profit $ 6,355,eee $ 41,730, eee Division investment 31, eee, eee 3 21, eee, eee The cost of capital for the company is 9 percent. Ignore taxes. Required: 0-1. Calculate the ROI for both North and South divisions. 0-2. If Solomons measures performance using ROL which division had the better performance? b-1. Calculate the EVA for both North and South divisions. (The divisions...
Required information (The following information applies to the questions displayed below.) Summary information from the financial...
Required information (The following information applies to the questions displayed below.) Summary information from the financial statements of two companies competing in the same industry follows. Barco Kyan Company Company Data from the current year-end balance sheets Assets Cash $ 22,000 $ 35,000 Accounts receivable, net 33,400 51,400 Merchandise inventory 84,640 134,500 Prepaid expenses 5,900 7,650 Plant assets, net 360,000 306, 400 Total assets $505,940 $534,950 Barco Kyan Company Company Data from the current year's income statement Sales $770,000 $912,200...
The following accounting information pertains to two grocery store chains. One grocery store chain has a...
The following accounting information pertains to two grocery
store chains. One grocery store chain has a market strategy of
selling only high end organic food products while the other grocery
store sells less expensive foods that are traditionally grown with
the use of pesticides, synthetic fertilizers, and/or genetically
modified organisms.
The company selling traditional produced foods has an average
inventory balance of $45,000, while the company selling organic
foods has an average inventory balance of $40,000.
a. Complete the table...
Use the following information for the Exercises below. [The following information applies to the questions displayed...
Use the following information for the Exercises below. [The following information applies to the questions displayed below) A food manufacturer reports the following for two of its divisions for a recent year Beverage Division $2,701 2,613 2.701 369 Cheese Division $4,494 (Sillions) Invested assets, beginning Invested assets, ending sales Operating income 4,420 3,945 Exercise 9-12 Return on investment LO A1, A2 1. Compute return on investment 2. Compute profit margin. 3. Compute investment turnover for the year. Complete this question...
The accounting records of Wall's China Shop reflected the following balances as of January 1, 2018:...
The accounting records of Wall's China Shop reflected the following balances as of January 1, 2018: Cash Beginning inventory Connon stock Retained earnings $80,180 33,888 (228 units @ $158) 50,eee 63,180 The following five transactions occurred in 2018: 1. First purchase (cash) 150 units @ $155 2. Second purchase (cash) 160 units @ $160 3. Sales (all cash) 410 units @ $320 4. Paid $38.000 cash for salaries expense 5. Pald cash for Income tax at the rate of 25...
The following accounting information pertains to Boardwalk Taffy and Beach Sweets. The only difference between the two companies is that Boardwalk Taffy uses FIFO, while Beach Sweets uses LIFO. Cash Accounts receivable Merchandise inventory Accounts payable Cost of goods sold Building Sales Boardwalk Taffy $ 85,000 330,000 240,000 245,000 1,224,000 300,000 2,100,000 Beach Sweets $ 35,000 330,000 178,000 245,000 1, 228, 200 300,000 2,100,000 Required a-1. Compute the gross margin percentage for each company. a-2. Identify the company that appears...
Check my work Zachary Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens from farmers and processes them into two different products: chicken drumsticks and chicken steak. From a standard batch of 23,000 pounds of raw chicken that costs $14,200, the company produces two parts: 2,500 pounds of drumsticks and 6,000 pounds of breast for a processing cost of $2,282. The chicken breast is further processed into 5,200 pounds of steak for a processing cost of $3,300....
mation apk in-proce cost of com Required information The following information applies to the questions displayed below.) Pacific Ink had beginning work-in-process inventory of $890,960 on October 1. of this amount, $358,200 was the cost of direct materials and 5532,760 was the cost of conversion. The 62,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs. During October, 130,000 units were transferred out and 44,000 remained in ending inventory. The units...
The following accounting information pertains to two grocery
store chains. One grocery store chain has a market strategy of
selling only high end organic food products while the other grocery
store sells less expensive foods that are traditionally grown with
the use of pesticides, synthetic fertilizers, and/or genetically
modified organisms.
The company selling traditional produced foods has an average
inventory balance of $45,000, while the company selling organic
foods has an average inventory balance of $40,000.
a. Complete the table...
Required information (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,821 89,600 110,500 9,281 260, 262 $ 498,464 $ 33,689 $ 35,451...
The following data are available for two divisions of Solomons Company North Division South Division Division operating profit $ 6,355,eee $ 41,730, eee Division investment 31, eee, eee 3 21, eee, eee The cost of capital for the company is 9 percent. Ignore taxes. Required: 0-1. Calculate the ROI for both North and South divisions. 0-2. If Solomons measures performance using ROL which division had the better performance? b-1. Calculate the EVA for both North and South divisions. (The divisions...
Required information (The following information applies to the questions displayed below.) Summary information from the financial statements of two companies competing in the same industry follows. Barco Kyan Company Company Data from the current year-end balance sheets Assets Cash $ 22,000 $ 35,000 Accounts receivable, net 33,400 51,400 Merchandise inventory 84,640 134,500 Prepaid expenses 5,900 7,650 Plant assets, net 360,000 306, 400 Total assets $505,940 $534,950 Barco Kyan Company Company Data from the current year's income statement Sales $770,000 $912,200...
The following accounting information pertains to two grocery
store chains. One grocery store chain has a market strategy of
selling only high end organic food products while the other grocery
store sells less expensive foods that are traditionally grown with
the use of pesticides, synthetic fertilizers, and/or genetically
modified organisms.
The company selling traditional produced foods has an average
inventory balance of $45,000, while the company selling organic
foods has an average inventory balance of $40,000.
a. Complete the table...
Use the following information for the Exercises below. [The following information applies to the questions displayed below) A food manufacturer reports the following for two of its divisions for a recent year Beverage Division $2,701 2,613 2.701 369 Cheese Division $4,494 (Sillions) Invested assets, beginning Invested assets, ending sales Operating income 4,420 3,945 Exercise 9-12 Return on investment LO A1, A2 1. Compute return on investment 2. Compute profit margin. 3. Compute investment turnover for the year. Complete this question...
The accounting records of Wall's China Shop reflected the following balances as of January 1, 2018: Cash Beginning inventory Connon stock Retained earnings $80,180 33,888 (228 units @ $158) 50,eee 63,180 The following five transactions occurred in 2018: 1. First purchase (cash) 150 units @ $155 2. Second purchase (cash) 160 units @ $160 3. Sales (all cash) 410 units @ $320 4. Paid $38.000 cash for salaries expense 5. Pald cash for Income tax at the rate of 25...
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