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Johnson Products Inc. has three regional division organized as profit centers. The chief executive officer (CEO) evaluating divisional performance using income from operations as a percent of revenues. The following quarterly income and expense accounts were provided from the trial balance as of December 31, 2012: Revenues-East $720,000 Revenues-West 860,000 Revenues-Central 1,560,000 Operating Expenses-East 456,150 Operating Expenses-West 511,700 Operating Expenses-Central 943,550 Corporate Expenses-Shareholder Relations 112,000 Corporate Expenses-Customer Support 385,000 Corporate Expenses-Legal 152,000 General Corporate Officers' Salaries 240,000 The company operate three service departments: Shareholder Relations, Customer Support, and Legal. The Shareholder Relations Department conducts a variety of services for shareholders of the company. The Customer Support Department is the company's point of contact for new service, complaints, and requests for repair. The department believe that the number of customer contacts is an activity base for this week. The Legal Department provides legal services for division management. The department believes that the number of hours billed is an activity base for this work. The following additional information has been gathered: East West Central Number of contacts: 4375 5250 7875 Number of hours billed: 950 1520 1330 1. Prepare the quarterly income statements showing income from operations for the three divisions. Use three column headings: East, West, and Central 2. Identify the most successful division according to the profit margin 3. Provide a recommendation to the CEO for a better method for evaluating the performance of the divisions. In your recommendation, identify the major weaknesses of the present method
The Evanec Company's next expected dividend, D1, is $3.18; its growth rate is 6%; and its common stock now sells for $36.00. New stock can be sold to net $32.40 per share. What is Evanec's percentage flotation cost, F?
levi company purchased land on february 1 2014 at a cost of 5000000. it estimated that a total of 50000 tons of ore is
a company buys a machine for 72000 that has an expected life of nine years and no salvage value. the company
Calculate the manufacturing cost markup needed to obtain a target profit of $100,000.
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An investor owns a call option on bond X with a strike price of 100. The coupon rate on bond X is 9% and has 10 years to maturity. The call option expires today at a time when bond X is selling to yield 8%. Should the investor exercise the call op..
What is an intangible asset? Should all intangible assets be subject to amortization? Explain why or why not. Why are some intangible assets not amortized? What is the implication to the financial statements?
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Parker Company has provided the following data for the most recent year: net operating income, $29,000; fixed expense, $125,000; sales, $220,000; and CM ratio, 70%.What is the company's degree of operating leverage? (Round your answer to 2 dec..
A small delivery truck was purchased on January 1 at a cost of $25,000. It has an estimated useful life of four years and an estimated salvage value of $5,000. Prepare a depreciation schedule showing the depreciation expense, accumulated depreciat..
Rampart Hospital has total variable costs of 90% of total revenues and fixed costs of $50 million per year. There are 50,000 patient-days estimated for next year. What is the average daily revenue per patient necessary to breakeven?
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