9 Required information[The following information applies to the questions displayed below]Suresh Company reports the following segment (department) income results for the year.SalesDepartment M$ 77,000Department N$ 39,000Department O$ 70,000Department P$ 56,000Department T$ 38,000Total$ 280,000ExpensesAvoidableUnavoidableTotal expensesIncome (loss)14,80055,80070,60042,40018,60061,000$ 6,400$ (22,000)21,6005,20026,800$ 43,20019,00046,800144,60043,20016,800139,60062,20063,600284,200$ (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.Total increase in income

The required information is provided in the table below.Department Sales Avoidable Expenses…

Answered: Required information [The following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

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
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
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?
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)
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%
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)
A company reports the following amounts at the end of the year: Sales revenue Cost of goods sold Net income $ 310,000 210,000 53,000 Compute the company's gross profit ratio. (Round your final answe Gross profit ratio %
[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.
View Policies Current Attempt in Progress Assume Sunland Company has the following reported amounts: Sales revenue $1,000,000, Sales returns and allowances $29,000, Cost of goods sold $649.599, and Operating expenses $215,600. (a) Compute net sales. Net sales $ (b) Compute gross profit. Gross profit S (c) Compute income from operations.
[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.
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…
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.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS