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 58,000
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- 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[The following information applies to the questions displayed below.] Suresh Company reports the following segment (department) income results for the year. Sales Expenses Avoidable Unavoidable Total expenses Income (loss) Department M Department N Department 0 Department P Department T $ 82,000 $ 44,000 $ 78,000 $ 65,000 $ 43,000 Total increase in income 17,300 57,800 75, 100 $ 6,900 45,400 21,600 67,000 $ (23,000) 18,000 5,700 23,700 51,300 20,300 71, 600 21,500 54,300 75,800 $ 54,300 $ (10,800) $ (28,600) Total $ 312,000 153,500 159, 700 313, 200 $ (1,200) b. Compute the al increase in income the departments with sales less than avoidable costs, as identified in part a, are eliminated.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 $ 10,800
- 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)[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 T[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.
- 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)Do the calculations in excel, attach excel screenshots and explain the steps and formulas used for solving the problem. Following are the particulars availableThe 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…
- 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…Below is the Income Statement of Company A for 2020-2021 in KWD. 2021 2020 t of Sales Revenue 1,000,000 1,200,000 Cost of GoodsSold 500,000 660,000 Gross Profit 500,000 540,000 Marketing Expenses 70,000 120,000 Administrative Expenses 150,000 132,000 Net Income 280,000 288.000 Enter the Common Size Percents for 2021 and 2020 (1 Common Size Percents - Common Size Percents - 2021 2020 Sales Revenue Cost of Goods Sold Gross Profit Marketing Expenses Administrative Expenses Net IncomeAir Company reported the following data for the current year:Income from continuing operations 700,000Net income 500,000Selling and administrative expenses 2,250,000Income before income tax 1,000,000 What amount should be reported as income or loss from discontinued operations?