Business, 05.05.2020 04:07 shaloveywrighty5965
Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. Tannenhill Company Electronics Industry Average Sales $2,480,000 100 % Cost of goods sold 1,587,200 70 Gross profit $892,800 30 % Selling expenses $545,600 17 % Administrative expenses 198,400 7 Total operating expenses $744,000 24 % Operating income $148,800 6 % Other revenue 49,600 2 $198,400 8 % Other expense 24,800 1 Income before income tax $173,600 7 % Income tax expense 74,400 5 Net income $99,200 2 %
Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average.
Answers: 2
Business, 22.06.2019 11:30
Consider derek's budget information: materials to be used totals $64,750; direct labor totals $198,400; factory overhead totals $394,800; work in process inventory january 1, $189,100; and work in progress inventory on december 31, $197,600. what is the budgeted cost of goods manufactured for the year? a. $1,044,650 b. $649,450 c. $657,950 d. $197,600
Answers: 3
Business, 22.06.2019 14:00
Which of the following would not generally be a motive for a firm to hold inventories? a. to decouple or separate parts of the production process b. to provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to minimize holding costs e. all of the above are functions of inventory.
Answers: 1
Business, 22.06.2019 17:30
Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.
Answers: 3
Business, 22.06.2019 17:40
Because the demand for wheat tends to be inelastic. true or false
Answers: 1
Revenue and expense data for the current calendar year for Tannenhill Company and for the electronic...
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