Financial Accounting Valuation Of Fixed Assets And Profit Homework Help
- September 8, 2017
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- Category: Accounting QA
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1.During 2011, Bonzai Corporation reported revenues of $891,640 and profits of $91,486. Fixed costs were $332,043 and 44,582 units were sold. If costs and prices are expected to stay the same in 2012, and Bonzai expects to sell 45,000 units, what will be the companys budgeted profit?
2.The Wall Street Journal has the following monthly data for newspapers sold and total cost.
Month | Issues Sold | Total Cost | |
January | 1,000,000 | $20,000,000 | |
February | 950,000 | $19,100,000 | |
March | 1,050,000 | $21,060,000 | |
April | 1,200,000 | $23,000,000 | |
May | 1,060,000 | $21,075,000 | |
June | 800,000 | $18,000,000 |
Using the high-low method, what is the total cost that the Wall Street Journal will incur if it is expecting to sell 750,000 newspapers in July?
3.Anderson Manufacturing makes a single product. Budget information regarding the current period is given below:
Revenue (100,000 units at $8.00) | $800,000 |
Direct materials | 150,000 |
Direct labor | 125,000 |
Variable manufacturing overhead | 235,000 |
Fixed manufacturing overhead | 110,000 |
Net income | $180,000 |
Dye Company approaches Anderson with a special order for 15,000 units at a price of $7.50 per unit. Variable costs will be the same as the current production and accepting the special order will not have any impact on the rest of the company’s orders. However, Anderson is operating at capacity and will incur an additional $50,000 in fixed manufacturing overhead if the order is accepted.
a.What is the incremental income (loss) associated with accepting the special order?
b.What is the incremental revenue associated with accepting the special order?
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4.On July 26, 2012, radio Shack announced disappointing 2nd quarter earnings that caused the stock to fall 29% to all time lows. Although sales were up 1.2% to $953.2 million gross profit fell 16.6% to $360.3 million. Assuming Radio Shack s store count and fixed costs were the same in the 2nd quarter of 2011 and 2012, Describe the reason for the decrease in the firm’s profitability?
5.Western Apparel Company owns two stores and management is considering eliminating the East store due to declining sales. Segmented contribution income statements are as follows and common fixed costs are allocated on the basis of sales.
West | East | Total | ||
Sales | $500,500 | 90,000 | $590,500 | |
Variable costs | 262,500 | 45,000 | 307,500 | |
Direct fixed costs | 62,500 | 25,000 | 87,500 | |
Segment margin | 175,500 | 20,000 | 195,500 | |
Allocated fixed costs | 137,500 | 35,000 | 172,500 | |
Net Income | $38,000 | ($15,000) | $23,000 |
Western feels that if they eliminate the East store that sales in the West store will decline by 15%. If they close the East store, Calculate the overall company net income?
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