,000 $ 39,000 $ 70,000 $ 56,000 $ 38,000 $ 280,000 Expenses Avoidable 14,800 42,400 21,600 19,000 46,800 144,600 Unavoidable 55,800 18,600 5,200
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Suresh Company reports the following segment (department) income results for the year.
Department M | Department N | Department O | Department P | Department T | Total | |
---|---|---|---|---|---|---|
Sales | $ 77,000 | $ 39,000 | $ 70,000 | $ 56,000 | $ 38,000 | $ 280,000 |
Expenses | ||||||
Avoidable | 14,800 | 42,400 | 21,600 | 19,000 | 46,800 | 144,600 |
Unavoidable | 55,800 | 18,600 | 5,200 | 43,200 | 16,800 | 139,600 |
Total expenses | 70,600 | 61,000 | 26,800 | 62,200 | 63,600 | 284,200 |
Income (loss) | $ 6,400 | $ (22,000) | $ 43,200 | $ (6,200) | $ (25,600) | $ (4,200) |
b. Compute the total increase in income if the departments with sales less than avoidable costs, as identified in part a, are eliminated.
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Solved in 2 steps
- Suresh Company reports the following segment (department) income results for the year. Department M Department N Department 0 Department P $ 82,000 $ 44,000 $ 78,000 $ 65,000 Sales Expenses Avoidable Unavoidable Total expenses Income (loss) Department Department M Department N Department O Department P Department T 17,300 45,400 57,800 21,600 75, 100 67,000 $ 6,900 $ (23,000) Decision 18,000 5,700 23,700 $ 54,300 21,500 54,300 75,800 $ (10,800) Department T $ 43,000 51,300 20,300 71, 600 $ (28,600) Total $ 312,000 a. If the company plans to eliminate departments that have sales less than avoidable costs, which department(s) would be eliminated? 153,500 159, 700 313, 200 $ (1,200)Suresh Company reports the following segment (department) income results for the year. Department N Department 0 Department P $36,000 $ 57,000 $ 43,000 Sales Expenses Avoidable. Unavoidable Total expenses Income (loss) Department M $ 64,000 otal increase in income 10,300 52,200 62,500 $1,500 37,000 13,200 50,200 $ (14,200) $ 30,000 22,700 4,300 27,000 $ 30,000 14,500 30,000 44,500 $ (1,500) Department T $ 29,000 38,700 10,500 49,200 $ (20,200) Total $ 229,000 123,200 110,200 Compute the total increase in income if the departments with sales less than avoidable costs, as identified in part a, are eliminated 233,400 $ (4,400)Required information [The following information applies to the questions displayed below.] Suresh Company reports the following segment (department) income results for the year. Sales Department M $ 68,000 Department N $ 38,000 Department 0 $ 65,000 Department P $ 47,000 Department T $ 33,000 Total $ 251,000 Expenses Avoidable 12,300 Unavoidable Total expenses Income (loss) 53,800 66,100 39,400 15,600 55,000 23,900 4,700 28,600 16,500 36,400 42,300 13,300 134,400 123,800 52,900 55,600 258,200 $ 1,900 $ (17,000) $ 36,400 $ (5,900) $ (22,600) $ (7,200) b. Compute the total increase in income if the departments with sales less than avoidable costs, as identified in part a, are eliminated. Total increase in income $ 3,700
- Prepare the Pro-Forma Statement of Financial Position for the year ending 31 December 2023 INFORMATIONSibiya ProjectsStatement of Comprehensive Income for the year ended 31 December 2022 RSales 10 000 000Cost of sales (5 750 000)Gross profit 4 250 000Variable, selling and administrative costs (1 500 000)Fixed selling and administrative costs (500 000)Net profit 2 250 000 Statement of Financial Position for the year ended 31 December 2022ASSETS RNon-current assets 800 000Property, plant and equipment 800 000 Current assets 3 400 000Inventories 1 600 000Accounts receivable 600 000Cash 1 200 000TOTAL ASSETS 4 200 000 EQUITY AND LIABILITIESEquity 3 760 000 Current liabilities 440 000Accounts payable 440 000TOTAL ASSETS AND LIABILITIES 4 200 000 Additional informationA. The sales budget for 2023 is as follows:First Quarter Second Quarter Third Quarter Fourth QuarterR2 625 000 R2 750 000 R2 875 000 R2 750 000 B. 90% of sales is collected in the quarter of the sale and 10% in the quarter…Required Information [The following information applies to the questions displayed below.] Suresh Company reports the following segment (department) income results for the year. Sales Expenses Department M $ 89,000 Department N $ 47,000 Department o $ 85,000 Department P $ 73,000 Department T $ 46,000 Total $ 340,000 48,400 24,600 Total expenses Income (loss) 73,000 $ 9,400 $ (26,000) 19,100 6,200 25,300 $ 59,700 24,000 55,800 167,100 59,700 23,800 174,100 83,700 79,600 341,200 $ (10,700) $ (33,600) $ (1,200) Avoidable Unavoidable 19,800 59,800 79,600 b. Compute the total increase in income if the departments with sales less than avoidable costs, as identified in part a, are eliminated. Answer is complete but not entirely correct. Total increase in income $ 10,800Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for Cuneo Company above. Required: 1. Prepare a common-size income statement for Year 1 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.) 2. Prepare a common-size income statement for Year 2 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.) 3. Prepare a common-size income statement for Year 3 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.)
- Required information [The following information applies to the questions displayed below.] Suresh Company reports the following segment (department) Income results for the year. Department P $ 66,000 Sales Expenses Avoidable Unavoidable Total expenses Income (loss) Department Department M Department N Department O Department P Department T Department M Department N $ 85,000 $ 45,000 Decision 17,800 58,200 76,000 $ 9,000 46,000 22,200 68,200 $ (23,200) Department O $ 79,000 19,300 5,800 25,100 $ 53,900 a. If the company plans to eliminate departments that have sales less than avoidable costs. 22,000 53,900 75,900 $ (9,900) Department T $ 39,000 52,200 21,000 73,200 $ (34,200) Total $ 314,000 157,300 161,100 318,400 $ (4,400) department(s) would be eliminated?Assume the following sales data for a company: Line Item Description Amount Current year $883,993 Preceding year 542,076 What is the percentage increase in sales from the preceding year to the current year? a. 63.08% b. 61.32% c. 163.08% d. 38.68%[The following information applies to the questions displayed below.] Suresh Company reports the following segment (department) income results for the year. Department M Department N Department O Department P Department T Total Sales $ 67,000 $ 37,000 $ 60,000 $ 46,000 $ 32,000 $ 242,000 Expenses Avoidable 11,800 38,800 23,600 16,000 41,400 131,600 Unavoidable 53,400 15,000 4,600 31,800 12,600 117,400 Total expenses 65,200 53,800 28,200 47,800 54,000 249,000 Income (loss) $ 1,800 $ (16,800) $ 31,800 $ (1,800) $ (22,000) $ (7,000) Compute the total increase in income if the departments with sales less than avoidable costs, as identified in part a, are eliminated.
- The following are the financial statement JNC Ltd. for the year ended 31 March 2020: JNC Ltd. Income statement For the year ended 31 March 2020 $”M” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) 150.00 Tax (70.00) Profit after tax 80.00 JNC Ltd. Statement of financial position as at 31 March 2020 2019 $”M” $”M” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital (10 million ordinary shares of $ 10 per value) 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…[The following information applies to the questions displayed below.] Suresh Company reports the following segment (department) income results for the year. Department M $ 87,000 Department P $ 69,000 Department T $ 42,000 Total Department N Department 0 $ 47,000 $ 83,000 $ 328,000 Sales Expenses Avoidable 18,800 59,000 77,800 $ 9,200 47,200 23,400 70,600 $ (23,600) 18,500 6,000 24,500 $ 58,500 23,000 58,500 81,500 $ (12,500) 54,000 22,400 76,400 $ (34,400) 161,500 169,300 330,800 $ (2,800) Unavoidable Total expenses Income (loss) Exercise 23-9 (Algo) Part 1 a. If the company plans to eliminate departments that have sales less than avoidable costs, which department(s) would be eliminated? Department Decision Department M Department N Department O Department P Department TSnow Company’s revenue for the year ended December 31, 2020 was as follows:Consolidated revenue per statement ofcomprehensive income $1,200,000Inter-segment sales 240,000Combined revenue of all segments $1,440,000Snow has a reportable operating segment if that segment’s revenue exceeds ____________________.A. $ 6,000B. $ 24,000C. $120,000D. $144,000