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Triton Company's copy department, which does almost all of the photocopying for the sales department and the administrative department, budgets the following costs for the year, based on the expected activity of copies: Salaries (fixed) $84,250 Employee benefits (fixed) 10,000 Depreciation of copy machines (fixed) 10,000 Utilities (fixed) 5,000 Paper (variable, 1 cent per copy) 50,000 Toner (variable, 1 cent per copy) 50,000 The costs are assigned to two cost pools, one for fixed and one for variable costs. The costs are then assigned to the sales department and the administrative department. Fixed costs are assigned on a lump-sum basis, 40 percent to sales and 60 percent to administration. The variable costs are assigned at a rate of 2 cents per copy. Assuming the following copies were made during the year, 2,784,000 for sales and 3,057,500 for administration, calculate the copy department costs allocated to sales.
Ava’s SpinBall Corp. lists fixed assets of $16 million on its balance sheet. The firm’s fixed assets have recently been appraised at $24 million. Ava’s SpinBall Corp.’s balance sheet also lists current assets at $9 million. Calculate the book and mar..
With celebrity bonds, celebrities raise money by issuing bonds to investors. The royalties from the sales of the music are used to pay interest and principal on the bonds. In April of 2009, EMI announced that it intended to securitize its back catalo..
After Dan's EFN analysis for East Coast Yachts (see the Closing Case in Chapter 3), Larissa has decided to expand the company's operations. She has asked Dan to enlist an underwriter to help sell $45 million in new 30-year bonds to finance new constr..
A home identical to yours in your neighborhood, sold last week for $150,000. Your home has a $120,000 assumable, 8% mortgage (compounded annually) with 30 years remaining. An assumable mortgage is one that the new buyer can assume at the old terms, c..
All of the following components are shown in the income statement net of applicable income taxes EXCEPT (a) gain or loss on sale of plant assets. (b) extraordinary gain or loss. (c)cumulative effect of a change in accounting principle. (d) discontinu..
An insurance line has a pure loss ratio of 65%, an expense ratio of 26%, the firm pays 3% of premium to policy holders as dividends, and has an investment yield to premium ratio of 6%. What is the operating ratio?
Jordan Jones (JJ) and Casey Carter (CC) are portfolio managers at your firm. Each manages a well-diversified portfolio. Your boss has asked for your opinion regarding their performance in the past year. JJ's portfolio has a beta of 0.6 and had a retu..
You have finally saved $10,000 and are ready to make your first investment. You have the three following alternatives for investing that money: Calculate the value of each investment based on you required rates of return. Which investment would you s..
The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer’s base price is $1,080,000, and it would cost another $22,500 to install it. What are the net operating cash flows in Years 1, 2, and 3? What is t..
The Talley Corporation had a taxable income of $355,000 from operations after all operating costs but before (1) interest charges of $71,000, (2) dividends received of $21,300, (3) dividends paid of $14,200, and (4) income taxes.
Should dividend policy be established independently of or in conjunction with capital structure policy? If capital structure is then changed might this affect dividend policy?
A company is expected to have free cash flow of $20 million next year the average cost of capital is WACC = 10% and the expected constant growth rate is g= 6%. The company has $9 million in maketable securities, $7 million in debt, and $6 million in ..
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