Daily Revenue and Cost Name of Business: Projected Projected Volume Revenue Projected Cost Mark-up Selling (D) (E) Costs of per Unit Price Average Merchandise/ - Purchases (A) (B) (C) No. of Products (Daily) (Daily) Items Sold (Daily) (B)= (A x C = A+ A E = Cx D K = (A x D) .50) Ex. Bag 150.00 75.00 225.00 10 2250 1500
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- Use the following information to answer the questions that follow. A. Calculate the operating income percentage for each of the courses. Comment on how your analysis has changed for each course. B. Perform a vertical analysis for each course. Based on your analysis, what accounts would you want to investigate further? How might management utilize this information? C. Which method of analysis (using a dollar value or percentage) is most relevant and/or useful? ExplainUsers of Accounting Information and Their Needs Billings Inc. would like to buy a franchise to provide a specialized service. Information about Billings is more useful to some people involved in the project than to others. Required Complete the following chart by identifying the information listed on the left with the users need to know the information. Identify the information as one of the following: Need to know Helpful to know Not necessary to knowUsers of Accounting Information and Their Needs Havre Company would like to buy a building and equipment to produce a new product line. Information about Havre is more useful to some people involved in the project than to others. Required Complete the following chart by identifying the information listed on the left with the users need to know the information. Identify the information as one of the following: Need to know Helpful to know Not necessary to know
- Identify the type of responsibility center (revenue center, cost center, profit center, or investment center) for each of the following situations. A. the accounting department for Tubelite Inc. B. the Best Buy in Traverse City, Michigan C. the reservation department of Allegiant airlines D. the sales department of Four Winns E. the Kohls store in Mount Pleasant, Michigan F. The Hershey Company G. Procter and Gamble H. the shoe department in the Kohls store in Mount Pleasant, MichiganIdentify the type of responsibility center (revenue center, cost center, profit center, or investment center) for each of the following situations. A. the legal department for Avon Manufacturing B. the Macys store in Mansfield, Ohio C. the food and beverage division of the Best Western D. the marketing department of the Hershey Company E. the Walmart #5030 on Central Avenue in Toledo, Ohio F. Apples Braeburn Capital Inc., where most of Apples billions of dollars are invested G. Zappos department store H. the mens clothing department in the Walmart #5030 in Toledo, OhioAssume you have been hired by Hilton Hotels and Resorts. As part of your new role in the accounting department, you have been tasked to set up a responsibility accounting structure for the company. As your first task, your supervisor has asked you to give an example of a cost center, profit center, and an investment center within the Hilton organization. Your supervisor is a little unsure of the difference between a profit center and investment center and would like you to explain the difference.
- Financial information for BDS Enterprises for the year-ended December 31, 20xx, was gathered from an accounting intern, who has asked for your guidance on how to prepare an income statement format that will be distributed to management. Subtotals and totals are included in the information, but you will need to calculate the values. A. In the correct format, prepare the income statement using the following information: B. Calculate the profit margin, return on investment, and residual income. Assume an investment base of $100,000 and 6% cost of capital. C. Prepare a short response to accompany the income statement that explains why uncontrollable costs are included in the income statement.With reference to a sales daybook, write an advice to the company on how daybooks can be adopted in developing an’’ enterprise wise’’ accounting system which can lead to complete, accurate and structured accounting information to be shown in the end year financial statementsTopic: identifying profit or loss to generate the overall report on the activity of the business. Direction: solve the problem given below (please refer to the picture)
- Create a financial statement for your hypothetical new business venture. Using the attached Excel template, and based on surveying a specific market place, make a best-guess estimated statement exhibiting profit and loss. In business, accuracy counts, so make sure to check and recheck your numbers before submitting your financial statements. Your grade will be based on the completeness and accuracy of the Income Statement. This is all of the information that I have. The hypothetical business is for a residential moving company.Indicate in the following chart the most likely source of information for each business decision. Use M for managerial accounting information and F for financial accounting information. Business Decision 1. Determine whether to lend to a company 2. Evaluate a purchasing department’s performance 3. Report financial performance to board of directors . 4. Estimate product cost for a new line of shoes 5. Plan the budget for next quarter . 6. Measure profitability of an individual store 7. Prepare financial reports according to GAAP . 8. Determine location and size for a new plantInstructions: Designate the best answer for each of the following questions. 1.Which of the following is a responsibility center that incurs expenses, generates revenues, and is responsible for generating a return on assets? a. Cost center b. Revenue center c. Profit center d. Investment center 2.Which one of the following is the most useful measure for evaluating a manager's performance in controlling revenues and costs in a profit center? a. Contribution margin b. Contribution net income c. Contribution gross profit d. Controllable margin 3.Hanover Corporation desires to earn target net income of $42,000. The selling price per unit is $18, unit variable cost is $5.60, and total fixed costs are $123,912. How many units must the company sell to earn its target net income? a. 13,380 b. 9,993 c. 3,387 d. 9,217 4.Remark…