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The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,760,000, with 75 percent of sales sold on credit.

The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,760,000, with 75 percent of sales sold on credit.

The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,760,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity Cash $ 58,000 Accounts payable $ 254,000 Accounts receivable 356,000 Accrued taxes 163,000 Inventory 301,000 Bonds payable (long-term) 147,000 Plant and equipment 454,000 Common…

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Assume the following data for Cable Corporation and Multi-Media Inc.       Cable Corporation Multi-Media Inc. Net income $ 34,400 $ 191,000

Assume the following data for Cable Corporation and Multi-Media Inc.       Cable Corporation Multi-Media Inc. Net income $ 34,400 $ 191,000

Assume the following data for Cable Corporation and Multi-Media Inc. Cable Corporation Multi-Media Inc. Net income $ 34,400 $ 191,000 Sales 379,000 2,070,000 Total assets 404,000 988,000 Total debt 235,000 484,000 Stockholders’ equity 169,000 504,000 a-1. Compute return on stockholders’ equity for both firms. (Input your answers as a percent rounded to 2 decimal…

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Using the Du Pont method, evaluate the effects of the following relationships for the Butters Corporation.      a. Butters Corporation has a profit margin of 8 percent and its return on assets (investment) is 17.75 percent.  What is its assets turnover? 

Using the Du Pont method, evaluate the effects of the following relationships for the Butters Corporation. a. Butters Corporation has a profit margin of 8 percent and its return on assets (investment) is 17.75 percent.  What is its assets turnover? (Round your answer to 2 decimal places.) b. If the Butters Corporation has a debt-to-total-assets ratio of 30.00 percent, what would the firm’s…

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Gates Appliances has a return-on-assets (investment) ratio of 18 percent.    a. If the debt-to-total-assets ratio is 25 percent, what is the return on equity?

Gates Appliances has a return-on-assets (investment) ratio of 18 percent.    a. If the debt-to-total-assets ratio is 25 percent, what is the return on equity?

Gates Appliances has a return-on-assets (investment) ratio of 18 percent. a. If the debt-to-total-assets ratio is 25 percent, what is the return on equity? (Input your answer as a percent rounded to 2 decimal places.) b. If the firm had no debt, what would the return-on-equity ratio be? (Input your answer as a percent rounded to 2 decimal places.) Explanation   a. Return on equity = Return on…

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Baker Oats had an asset turnover of 1.5 times per year.            a. If the return on total assets (investment) was 6.4 percent, what was Baker’s profit margin? 

Baker Oats had an asset turnover of 1.5 times per year. a. If the return on total assets (investment) was 6.4 percent, what was Baker’s profit margin? (Input your answer as a percent rounded to 1 decimal place.) b. The following year, on the same level of assets, Baker’s assets turnover declined to 1.6 times and its profit margin was 4 percent. How did the return on total assets change from that…

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Easter Egg and Poultry Company has $1,020,000 in assets and $624,000 of debt. It reports net income of $159,000. 

Easter Egg and Poultry Company has $1,020,000 in assets and $624,000 of debt. It reports net income of $159,000. a. What is the firm’s return on assets? (Enter your answer as a percent rounded to 2 decimal places.) b. What is its return on stockholders’ equity? (Enter your answer as a percent rounded to 2 decimal places.) c. If the firm has an asset turnover ratio of 3.4 times, what is the…

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Dr. Zhivàgo Diagnostics Corp.'s income statement for 20X1 is as follows:    Sales $ 2,950,000

Dr. Zhivàgo Diagnostics Corp.’s income statement for 20X1 is as follows:    Sales $ 2,950,000

Dr. Zhivàgo Diagnostics Corp.’s income statement for 20X1 is as follows: Sales $ 2,950,000 Cost of goods sold 2,180,000 Gross profit $ 770,000 Selling and administrative expense 393,000 Operating profit $ 377,000 Interest expense 52,500 Income before taxes $ 324,500 Taxes (30%) 97,350 Income after taxes $ 227,150 a. Compute the profit margin for 20X1. (Input the profit margin as a…

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Database Systems is considering expansion into a new product line. Assets to support expansion will cost $360,000. It is estimated that Database can generate $1,670,000 in annual sales, with an 4 percent profit margin.

Database Systems is considering expansion into a new product line. Assets to support expansion will cost $360,000. It is estimated that Database can generate $1,670,000 in annual sales, with an 4 percent profit margin.

Database Systems is considering expansion into a new product line. Assets to support expansion will cost $360,000. It is estimated that Database can generate $1,670,000 in annual sales, with an 4 percent profit margin. What would net income and return on assets (investment) be for the year? (Input your return on assets answer as a percent rounded to 2 decimal places.) Explanation   Net…

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Low Carb Diet Supplement Inc. has two divisions. Division A has a profit of $141,000 on sales of $2,700,000. Division B is able to make only $34,000 on sales of $347,000.

Low Carb Diet Supplement Inc. has two divisions. Division A has a profit of $141,000 on sales of $2,700,000. Division B is able to make only $34,000 on sales of $347,000.

Low Carb Diet Supplement Inc. has two divisions. Division A has a profit of $141,000 on sales of $2,700,000. Division B is able to make only $34,000 on sales of $347,000. a. Compute the profit margins (return on sales) for each division. (Input your answers as a percent rounded to 2 decimal places.) b. Based on the profit margins (returns on sales), which division is…

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Group Discussion: Case 2-22: Plantwide vs. Departmental Overhead Rates; Pricing

Group Discussion: Case 2-22: Plantwide vs. Departmental Overhead Rates; Pricing

Group Discussion: Case 2-22: Plantwide vs. Departmental Overhead Rates; Pricing. Blast it!” said David Wilson, president of Teledex Company. “We’ve just lost the bid on the Koopers job by $2,000. It seems we’re either too high to get the job or too low to make any money on half the jobs we bid.” Teledex Company manufactures products to customers’ specifications and uses a job-order costing…

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The Devon Motor Company produces automobiles. On April 1, the company had no beginning inventories, and it purchased 7,280 batteries at a cost of $140 per battery. It withdrew 6,700 batteries from the storeroom during the month. Of these, 100 were used to replace batteries in cars being used by the company’s traveling sales staff. The remaining 6,600 batteries withdrawn from the storeroom were placed in cars being produced by the company. Of the cars in production during April, 90 percent were completed and transferred from work in process to finished goods. Of the cars completed during the month, 30 percent were unsold at April 30.

The Devon Motor Company produces automobiles. On April 1, the company had no beginning inventories, and it purchased 7,280 batteries at a cost of $140 per battery. It withdrew 6,700 batteries from the storeroom during the month. Of these, 100 were used to replace batteries in cars being used by the company’s traveling sales staff. The remaining 6,600 batteries withdrawn from the storeroom were placed in cars being produced by the company. Of the cars in production during April, 90 percent were completed and transferred from work in process to finished goods. Of the cars completed during the month, 30 percent were unsold at April 30.

The Devon Motor Company produces automobiles. On April 1, the company had no beginning inventories, and it purchased 7,280 batteries at a cost of $140 per battery. It withdrew 6,700 batteries from the storeroom during the month. Of these, 100 were used to replace batteries in cars being used by the company’s traveling sales staff. The remaining 6,600 batteries withdrawn from the storeroom were…

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Harris Company manufactures and sells a single product. A partially completed schedule of the company’s total costs and costs per unit over the relevant range of 58,000 to 98,000 units is given below:

Harris Company manufactures and sells a single product. A partially completed schedule of the company’s total costs and costs per unit over the relevant range of 58,000 to 98,000 units is given below:

Harris Company manufactures and sells a single product. A partially completed schedule of the company’s total costs and costs per unit over the relevant range of 58,000 to 98,000 units is given below:   Required: 1. Complete the schedule of the company’s total costs and costs per unit as given in the relevant tab below.   2. Assume that the company produces and sells 88,000 units during the year…

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Assume that Kubin Company produced 32,500 units and expects to sell 32,100 of them. If a new customer unexpectedly emerges and expresses interest in buying the 400 extra units that have been produced by the company and that would otherwise remain unsold, what is the incremental manufacturing cost per unit incurred to sell these units to the customer?

Assume that Kubin Company produced 32,500 units and expects to sell 32,100 of them. If a new customer unexpectedly emerges and expresses interest in buying the 400 extra units that have been produced by the company and that would otherwise remain unsold, what is the incremental manufacturing cost per unit incurred to sell these units to the customer?

Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows:   Average Cost per Unit Direct materials $ 9.00 Direct labor $ 6.00 Variable manufacturing overhead $ 3.50 Fixed manufacturing overhead $ 7.00 Fixed selling expense $ 5.50 Fixed administrative expense $ 4.50 Sales commissions $…

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Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows: If 30,000 units are produced and sold, what is the variable cost per unit produced and sold?

Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows: If 30,000 units are produced and sold, what is the variable cost per unit produced and sold?

Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows:   Average Cost per Unit Direct materials $ 9.00 Direct labor $ 6.00 Variable manufacturing overhead $ 3.50 Fixed manufacturing overhead $ 7.00 Fixed selling expense $ 5.50 Fixed administrative expense $ 4.50 Sales commissions $…

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Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows:

Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows:

Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows:   Average Cost per Unit Direct materials $ 9.00 Direct labor $ 6.00 Variable manufacturing overhead $ 3.50 Fixed manufacturing overhead $ 7.00 Fixed selling expense $ 5.50 Fixed administrative expense $ 4.50 Sales commissions $…

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Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows:

Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows:

Kubin Company’s relevant range of production is 30,000 to 35,000 units. When it produces and sells 32,500 units, its average costs per unit are as follows:   Average Cost per Unit Direct materials $ 9.00 Direct labor $ 6.00 Variable manufacturing overhead $ 3.50 Fixed manufacturing overhead $ 7.00 Fixed selling expense $ 5.50 Fixed administrative expense $ 4.50 Sales commissions $…

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Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand is $2,100 and the variable cost per cup of coffee served is $0.74.   Required: 1. Fill in the following table with your estimates of the company’s total cost and average cost per cup of coffee at the indicated levels of activity. 2. Does the average cost per cup of…

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