1. Prepare an estimated Income statement for 20Y7. Belmain Co. Estimated Income Statement For the Year Ended December 31, 20Y7 Cost of goods sold: Total cost of goods sold Gross profit Expenses: Selling expenses: Total selling expenses Administrative expenses:
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- Margin, Turnover, Return on Investment, Average Operating Assets Elway Company provided the following income statement for the last year: At the beginning of last year, Elway had 28,300,000 in operating assets. At the end of the year, Elway had 23,700,000 in operating assets. Required: 1. Compute average operating assets. 2. Compute the margin and turnover ratios for last year. (Note: Round the answer for margin ratio to two decimal places.) 3. Compute ROI. (Note: Round answer to two decimal places.) 4. CONCEPTUAL CONNECTION Briefly explain the meaning of ROI. 5. CONCEPTUAL CONNECTION Comment on why the ROI for Elway Company is relatively high (as compared to the lower ROI of a typical manufacturing company).Forchen, Inc., provided the following information for two of its divisions for last year: Required: 1. For the Small Appliances Division, calculate: a. Average operating assets b. Margin c. Turnover d. Return on investment (ROI) 2. For the Cleaning Products Division, calculate: a. Average operating assets b. Margin c. Turnover d. Return on investment (ROI) 3. What if operating income for the Small Appliances Division was 2,000,000? How would that affect average operating assets? Margin? Turnover? ROI? Calculate any changed ratios (round to four significant digits).Income Statements under Absorption and Variable Costing In the coming year, Kalling Company expects to sell 28,700 units at 32 each. Kallings controller provided the following information for the coming year: Required: 1. Calculate the cost of one unit of product under absorption costing. 2. Calculate the cost of one unit of product under variable costing. 3. Calculate operating income under absorption costing for next year. 4. Calculate operating income under variable costing for next year.
- The following selected data pertain to the Argent Division for last year: Required: 1. How much is the residual income? 2. How much is the return on investment? (Rounded to four significant digits.)Contribution margin, break-even sales, cost-volume-profit chart, marginof safety, and operating leverageBelmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for theyear is therefore assumed to be equal to the cost of goods sold. With thisin mind, the various department heads were asked to submit estimatesof the costs for their departments during the year. A summary report ofthese estimates is as follows: (attached) It is expected that 12,000 units will be sold at a price of $240 a unit.Maximum sales within the relevant range are 18,000 units.Instructions 1. Prepare an estimated income statement for 20Y7.2. What is the expected contribution margin ratio?3. Determine the break-even sales in units and dollars. 4. Construct a cost-volume-profit chart indicating the break-evensales.5. What is the expected margin of safety in dollars and as apercentage of sales?6. Determine the operating leverage.Contribution margin, break-even sales, cost-volume-profit chart, marginof safety, and operating leverageWolsey Industries Inc. expects to maintain the same inventories at the end of 20Y3 as at the beginning of the year. The total of all productioncosts for the year is therefore assumed to be equal to the cost of goodssold. With this in mind, the various department heads were asked tosubmit estimates of the costs for their departments during the year. Asummary report of these estimates is as attached: It is expected that 21,875 units will be sold at a price of $160 a unit.Maximum sales within the relevant range are 27,000 units.Instructions Prepare an estimated income statement for 20Y3.What is the expected contribution margin ratio?Determine the break-even sales in units and dollars. Construct a cost-volume-profit chart indicating the break-even sales.What is the expected margin of safety in dollars and as a percentage ofsales? Determine the operating leverage.It is expected that…
- Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixed Cost Estimated Variable Cost(per unit sold) Production costs: Direct materials — $28 Direct labor — 19 Factory overhead $495,200 14 Selling expenses: Sales salaries and commissions 102,900 6 Advertising 34,800 — Travel 7,700 — Miscellaneous selling expense 8,500 6 Administrative expenses: Office and officers' salaries 100,600 — Supplies 12,400…Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixed Cost Estimated Variable Cost(per unit sold) Production costs: Direct materials — $19 Direct labor — 13 Factory overhead $105,800 10 Selling expenses: Sales salaries and commissions 22,000 4 Advertising 7,400 — Travel 1,700 — Miscellaneous selling expense 1,800 4 Administrative expenses: Office and officers' salaries 21,500 — Supplies 2,600…Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Estimated Variable Cost Fixed Cost (per unit sold) Production costs: Direct materials $28 Direct labor 19 Factory overhead $139,800 14 Selling expenses: Sales salaries and commissions 29,000 6 Advertising 9,800 Travel 2,200 Miscellaneous selling expense 2,400 Administrative expenses: orfice and officers' salaries 28,400 Supplies 3,500 2 Miscellaneous administrative expense 3,300 3 Total $218,400 $78 It is expected that 6,300 units will be sold at a price of $156 a unit. Maximum sales…
- Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixedCost EstimatedVariableCost(perunitsold) Production costs: Direct materials $26 Direct labor 17 Factory overhead $564,000 13 Selling expenses: Sales salaries and commissions 117,200 6 Advertising 39,700 Travel 8,800 Miscellaneous selling expense 9,700 5 Administrative expenses: Office and officers' salaries 114,600 Supplies 14,100 2…Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixed Cost Estimated Variable Cost(per unit sold) Production costs: Direct materials $13 Direct labor 9 Factory overhead $212,900 6 Selling expenses: Sales salaries and commissions 44,200 3 Advertising 15,000 Travel 3,300 Miscellaneous selling expense 3,700 3 Administrative expenses: Office and officers' salaries 43,200 Supplies 5,300 1…Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: EstimatedFixed Cost Estimated Variable Cost(per unit sold) Production costs: Direct materials — $22 Direct labor — 14 Factory overhead $190,100 11 Selling expenses: Sales salaries and commissions 39,500 5 Advertising 13,400 — Travel 3,000 — Miscellaneous selling expense 3,300 4 Administrative expenses: Office and officers' salaries 38,600 — Supplies 4,800…