Hallstead Jewelers Essay

Although the company did show an increased gross profit of $8,255,000 with $6,358,000 less Net Sales in 2013 versus 2012, that increase is due to the reduction in product Cost of Goods Sold by $14,613,000. Since increases in product price will negatively affect sales, one of management’s primary goals is to keep prices stable. This objective is achieved through implementation of cost cutting programs, investing in more efficient equipment, and automation of more steps in the production process.

In our second assumption, instead of using the cost of goods per cases in 1986, we try to use the percentage it counts in the total expenses which is 50.4% and to find the sales needed to break-even. The detail of the calculation is shown in the answer for questions d. The result is that 95,635, a little bit higher than the estimated sales of 90,000.

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During 1992, Hanson’s share of industry sales was 12% for type 101, 8% for 102, and 10% for 103. The industry wide quoted selling prices were $9.41, $9.91, $10.56, respectively. Wessling order no immediate changes, however he advice to wait for results of the first half of 1993. He instructed the accounting department to provide detailed expenses and earnings statements by products for 1992. In addition, he requested an explanation of the nature of the costs including their expected future behavior (exhibit 3). For control purposes, he had the accounting department prepare monthly statements using as standard costs the actual costs per cwt. from 1992 profit and loss statement (exhibit 2).

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(decreases) (Lev, 1974, p.628). At the same time, the company incurred a 3 percent decrease in sales, which caused a 21 percent decline in profits (Edmonds, Tsay, & Olds, 2011, p. 147). This demonstrates a change in sales,

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Profit growth has on average exceeded stated goals from 1997-2003, averaging on 33 %. Transaction value, an indicator of the activity level, has grown notably less than profits (207 % vs. 289 % over six years), indicating profitable growth. This contrasts with the general squeeze on profitability and growth for the industry. International operations have not performed well. Transaction value has grown more than 50 % from 2001-2003, while profits have declined 65 %.

Net Sales EXPENSES: 801 Cost of Goods Sold Per Audit 12 -31-08 Per Books 12-31-09 3,447,472 (26,530) 3,420,942 3,857,549 (28,318) 3,829,231 1,420,933 1,651,366 Debit 3,857,549 (28,318) 3,829,231 C-1 18,000 #3 C-1 928 #4 I-1 I-1 1,900 #14 150 #16 I-1 I-2 Gross Margin OPERATING EXPENSES: 820 Wage and Salary Expense 821 Payroll Tax Expense 822 Depreciation Expense 823 824 825 826 827 828 829 830 831 832 833 834

JEWEL: We had 59 ounce on sale two weeks during the month of August as was Tropicana. Simply Orange was on sale the entire month at either 2/$7 or $3.99. Simply 89 ounce was also at $5.99 for the entire month and Simply Lemonades were either 2/$5 or 2/$4 during August.

Upon calculation of all the numbers, it was determined that the company gained an operating profit of $94,500. The company’s biggest expense was the general administrative and operating costs, totaling $515,000. Other costs involved were variable costs ($765,000 total) and direct fixed costs ($253,000 total). Additionally, the breakeven point in revenue was $1,533,000. It was also determined, in that year, that a minimum of 21 concerts must have been performed to reach each individual dance concert’s breakeven point.

2014,00 2010,00 Revenue Revenue Growth Production Costs Fixed Production Expense (excl depreciation) Variable Production Costs Depreciation Total Production Costs Selling, General & Administrative Total Operating Expenses 0,00 1250,00 1250,00 575,00 2035,00 152,20 2762,20 1155,00 3917,20 575,00 3403,80 152,20 4131,00 1735,00 5866,00 586,50 4290,60 152,20 5029,30 2102,20 7131,50 598,20 4669,00 152,20 5419,40 2270,30 7689,70 610,10 5078,40 164,40 5852,90 2452,00 8304,90 622,30 5521,30 177,50 6321,10 2648,10 8969,20 634,80 6000,30 191,70 6826,80 2860,00 9686,80 647,50 6518,50 207,10 7373,10 3088,80 10461,90 660,40 7078,80 223,60 7962,80 3335,90 11298,70 673,70 7684,70 241,50 8599,90 3602,80 12202,70 Operating Profit Operating Profit Operating

Jewelry retailer Zale Corp. named interim chief executive officer Mary “Betsy” Burton to the post permanently and launched a search for a new chief financial officer. Zale’s board tapped Burton, a director, as its interim CEO in late January after forcing the resignation of Mary Forte, CEO since 2002. Zale’s board made the change following the failure of Forte’s campaign to shift the advertising and merchandise at the retailer’s flagship Zales Jewelers to appeal to a more upscale and fashion-conscious clientele.

The following overview takes a look at how much the average sales ticket would have to increase to breakeven if the fixed cost remained the same in 2007 as it was in 2006.

At the end of period 7, we were faced with a problem of severe overcapacity, reducing our net income. At this juncture, we realized that the only way we could reduce capacity was by reducing demand and sales. As a result, prices were increased drastically to reduce sales. This loss in sale, however, was far less than the increase in profit. It was viewed as an “intelligent loss of sale” by the team helping us to normalize our sales without effecting the income statement negatively. This problem was caught at the bud before it could spiral out of control, hence keeping the ill effects down to one