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The contribution format income statement for Strickland, Inc., for its most recent period is given below:
The company had average operating assets of $503,000 during the period.
Compute the company's return on investment (ROI) for the period using the ROI formula stated in terms of margin and turnover. (Round your intermediate calculations and final answer to 2 decimal places.)
For each of the following questions, indicate whether the margin and turnover will increase, decrease, or remain unchanged as a result of the events described, and then compute the new ROI figure. Consider each question separately, starting in each case from the original ROI computed in (1) above.
The company achieves a cost savings of $6,000 per period by using less costly materials. (Round your intermediate calculations and final answers to 2 decimal places.)
Using Lean Production, the company is able to reduce the average level of inventory by $91,000. (The released funds are used to pay off bank loans.) (Round your intermediate calculations and final answers to 2 decimal places.)
Sales are increased by $198,000; operating assets remain unchanged. (Round your intermediate calculations and final answers to 2 decimal places.)
The company issues bonds and uses the proceeds to purchase $128,000 in machinery and equipment at the beginning of the period. Interest on the bonds is $14,000 per period. Sales remain unchanged. The new, more efficient equipment reduces production costs by $5,000 per period. (Round your intermediate calculations and final answers to 2 decimal places.)
Obsolete inventory carried on the books at a cost of $17,000 is scrapped and written off as a loss.(Round your intermediate calculations and final answers to 2 decimal places.)
the following events took place at a manufacturing company for the current year 1 purchased 106000 in direct
What are the accounting and reporting guidelines for a change in accounting principle related to depreciation methods?
What is consolidated net income for this year prior to reduction for the noncontrolling interest's share of the subsidiary's net income?
A manufacturer of thermostats uses a kanban system to control the flow of materials. The packaging center processes 10 thermostats an hour and receives completed thermostats every 30 minutes. Containers hold 5 thermostats each.
Patel and Sons, Inc., uses a standard cost system to apply overhead costs to units produced. Practical capacity for the plant is defined as 50,000 machine-hours per year, which represents 25,000 units of output.
For the current year, David has salary income of $80,000 and the following property transactions: What is David's AGI for the current year?
Calculate the annual income of the company using (1) the percentage-of-completion method and (2) the completed-contract method.
Compute for the company's break-even point in unit sales using the equation method.
Canoe Company uses a job order cost accounting system and allocates its overhead on the basis of direct labor costs. Canoe Company's production costs for the year were: direct labor, $30,000; direct materials, $50,000; and factory overhead applied..
Discussing the following ethical dilemma.
requirement 1 in millions 2011 2012 2013contract price 340 340 340actual costs to date 70 150 200estimated costs to
Topeka Stores accepts both its own and national credit cards. During the year the following selected summary transactions occurred.
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