Please explain in detail that why Mr. Yoder is so confused about the income statements of first two quarters?
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Please explain in detail that why Mr. Yoder is so confused about the income statements of first two quarters?
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- Check m Bovine Company, a wholesale distributor of umbrellas, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales Variable expenses Contribution margin Fixed expenses $2,050,000 876,050 1,173,950 1,315,000 $ (141,050) Operating loss In an effort to isolate the problem, the president has asked for an income statement segmented by geographic market. Accordingly, the Accounting Department has developed the following: Geographic Market Central South North Sales Variable expenses as a percentage of sales Traceable fixed expenses $605,000 $804,000 $641,000 34% $315,000 $500,000 $305,000 53% 44% Required: 1. Prepare a contribution format income statement segmented by geographic market, as requested by the president Geographic Market Total South Central North CompanyPharoah Corporation's Cajun Spice division has a segment margin is $434200 for the current reporting period. The division has an asset turnover of 3.1. Segment margin as a percentage of sales is 10%. What is the division's ROI? O 31% O 10% O 21% O The answer cannot be determined from the information given.RJM Enterprises is a manufacturer of consumer electronics products. The industry is very competitive, and RJM has seen its profits fall in recent years, including an operating loss of $17,525 last year. RJM was able to turn that around this year by aggressively cutting costs. The summarized financial results for RJM are shown below: Gross sales: Less variable costs Direct materials Direct labor Total contribution margin Fixed costs Operating income Current Year $ 982,290 480,870 221,940 $ 279,480 33,509 $ 245,971 Prior Year $ 1,344,725 807,500 498,750 $ 38,475 56,000 $ (17,525) Jim Green, the management accountant at RJM, is analyzing the company's performance for this year in order to explain to management the specific aspects that drove the company to success. Some of the information Jim obtained follows: Sales units Current Year 41,100 $ 23.90 $ 7.80 1.50 0.60 Prior Year 47,500 $ 28.31 $ 8.50 2.00 0.75 $ 14.00 Price Direct materials cost per unit of material Direct materials…
- Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses as shown by its most recent monthly contribution format income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) $ 1,591, 000 706, 760 884, 240 973,000 $ (88,760) In an effort to resolve the problem, the company wants to prepare an income statement segmented by division. Accordingly, the Accounting Department provided the following information: Sales Variable expenses as a percentage of sales Traceable fixed expenses East $ 351,000 $262,000 56% Division Central $ 660,000 36% $ 335,000 West $ 580,000 47% $206,000 Required: 1. Prepare a contribution format income statement segmented by divisions. 2-a. The Marketing Department believes increasing the West Division's monthly advertising by $25,000 will increase that division's sales by 18%. Assuming these estimates are accurate, how much would the company's net operating income increase (decrease)…Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Sales Variable expenses as a percentage of sales Traceable fixed expenses $ 1,550,000 531,900 1,018, 100 1,120,000 $ (101,900) Req 1 Req 2A East $ 370,000 Req 2B 54% $ 265,000 Required: 1. Prepare a contribution format income statement segmented by divisions. 2-a. The Marketing Department has proposed increasing the West Division's monthly advertising by $25,000 based on the belief that it would increase that division's sales by 18%. Assuming these estimates are accurate, how much would the company's net operating income increase…Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Sales Variable expenses as a percentage of sales Traceable fixed expenses $ 1,546,000 670, 180 875,820 963,000 $ (87,180) Req 1 Req 2A East $ 386,000 58% $ 251,000 Required: 1. Prepare a contribution format income statement segmented by divisions. 2-a. The Marketing Department has proposed increasing the West Division's monthly advertising by $26,000 based on the belief that it would increase that division's sales by 14%. Assuming these estimates are accurate, how much would the company's net operating income increase (decrease)…
- Bovine Company, a wholesale distributor of umbrellas, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales $ 2,070,000 Variable expenses 895,880 Contribution margin 1,174,120 Fixed expenses 1,319,000 Operating loss $ (144,880 ) In an effort to isolate the problem, the president has asked for an income statement segmented by geographic market. Accordingly, the Accounting Department has developed the following: Geographic Market South Central North Sales $ 607,000 $ 806,000 $ 657,000 Variable expenses as a percentage of sales 50 % 36 % 46 % Traceable fixed expenses $ 320,000 $ 480,000 $ 307,000 Required:1. Prepare a contribution format income statement segmented by geographic market, as requested by the president. 2-a. The company’s sales manager believes that sales in the Central…During the current year, the net sales of Ridgeway, Inc., were 10 percent below last year’s level. You should expect Ridge-way’s semivariable costs to: a. Decrease in total, but increase as a percentage of net sales.b. Increase in total and increase as a percentage of net sales.c. Decrease in total and decrease as a percentage of net sales.d. Increase in total, but decrease as a percentage of net sales.Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses as shown by its most recent monthly contribution format Income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) In an effort to resolve the problem, the company wants to prepare an income statement segmented by division. Accordingly, the Accounting Department provided the following information: Sales Variable expenses as a percentage of sales Traceable fixed expenses $ 1,578,000 698,940 879,060 967,000 $ (87,940) Sales Variable expenses Reg 2A Contribution margin Traceable fixed expenses Divisional segment margin Common fixed expenses not traceable to divisions Net operating loss East $ 358,000 Req 1 Req 28 Prepare a contribution format income statement segmented by divisions. 48% Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 $ 300,000 S Required: 1. Prepare a contribution format Income…
- Jan Shumard, president and general manager of Danbury Company, was concerned about thefuture of one of the company’s largest divisions. The division’s most recent quarterly incomestatement follows:Sales $3,751,500Less: Cost of goods sold 2,722,400Gross profit $1,029,100Less: Selling and administrative expenses 1,100,000Operating (loss) $ (70,900)Jan is giving serious consideration to shutting down the division because this is the ninth consecutive quarter that it has shown a loss. To help him in his decision, the following additionalinformation has been gathered:• The division produces one product at a selling price of $100 to outside parties. Thedivision sells 50% of its output to another division within the company for $83 per unit(full manufacturing cost plus 25%). The internal price is set by company policy. If thedivision is shut down, the user division will buy the part externally for $100 per unit.• The fixed overhead assigned per unit is $20.• There is no alternative use for…Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Sales Variable expenses as a percentage of sales Traceable fixed expenses $ 1,461,000 602,830 858,170 944,000 $ (85,830) Req 1 Complete this question by entering your answers in the tabs below. Req 2A East $ 351,000 $ 275,000 Required: 1. Prepare a contribution format income statement segmented by divisions. 2-a. The Marketing Department has proposed increasing the West Division's monthly advertising by $29,000 based on the belief that it would increase that division's sales by 15%. Assuming these estimates are accurate, how much…Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses as shown by Its most recent monthly contribution format Income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) In an effort to resolve the problem, the company wants to prepare an Income statement segmented by division. Accordingly, the Accounting Department provided the following information: Sales Variable expenses as a percentage of sales Traceable fixed expenses $ 1,601,000 530,098 1,070,910 1,178,000 $ (107,090) Required 1 Required 2A Required 2B East $ 401,000 Sales Variable expenses Contribution margin Traceable fixed expenses Gross margin 49% $ 293,000 Complete this question by entering your answers in the tabs below. Prepare a contribution format income statement segmented by divisions. Required: 1. Prepare a contribution format Income statement segmented by divisions 2-a. The Marketing Department believes increasing the West…