Please include formulas GD EMRO Department 2020 ResultsABFH.IJKM3 Revenues (billed out):Change in Gross MarginBudget3,456Actual Fav./(Unfav.)3,6484 - Labor (hrs.)5 - Labor rate ($/hr.)6 - Parts (S/hr.)7 Costs:8 - Labor (hrs.)9 - Labor ($/hr.)10 - Parts (% of revenue)19245,868120120345320(25)Labor VarianceParts VarianceRevenue (hrs.)Rate ($/hr.)Costs (hrs.)-3% Labor (S/hr.)Revenue (hrs.)Revenue ($/hr.)Costs (hrs.)3,8403,877374244280%77%Costs ($/hr.)11TotalMark-upS Fav./(Unfav.)12 Revenues:13 - LaborOther437,7601,192,320 1,168,09223,040(24,228)(1,188)414,720Total14 - Parts15Total Revenues 1,607,040 1,605,85216 Costs:17 - Labor- Parts7,370(54,425)161,280168,65018953,856899,43119Total Costs 1,115,136 1,068,080(47,056)20Insert your text explanation of the variances here.21 Gross Margin22 Overhead:491,904537,77245,86823 - Space75,00035,00068,50075,00035,00068,50018,000196,50024 - General & Admin.25 - Depreciation26 - Legal & Regulatory18,00027Total Overhead196,5002829 Net before Taxes30 Taxes295,40462,035341,27245,86871,6679,63231 Net after Taxes233,369269,60536,235

Variance is the comparison which is done by the company to calculate whether the deviations has been…

MRO Department - 2020 Results 3 Revenues (billed out): 4 - Labor (hrs.) 5 - Labor rate ($/hr.) 6 - Parts (S/hr.) 7 Costs: 3 - Labor (hrs.) 9 - Labor ($/hr.) 10 - Parts (% of revenue) Budget 3,456 Actual Fav./(Unfav.) 3,648 Change in Gross Margin 45,868 192 120 120 Labor Variance Revenue (hrs.) Parts Variance Revenue (hrs.) Revenue ($/hr.) Costs (hrs.) Costs ($/hr.) 345 320 (25) 3,840 3,877 Rate (S/hr.) Costs (hrs.) 37 42 44 2 80% 77% -3% Labor ($/hr.) 11 12 Revenues: 13 - Labor 14 - Parts Total Mark-up S Fav./(Unfav.) Other 437,760 414,720 1,192,320 1,168,092 23,040 Total (24,228) 15 16 Costs: 17 - Labor 18 - Parts 19 20 e1 Gross Margin 22 Overhead: 23 - Space 24 - General & Admin. 25 - Depreciation 26 - Legal & Regulatory 27 28 29 Net before Taxes 30 Taxes 31 Net after Taxes Total Revenues 1,607,040 1,605,852 (1,188) 161,280 953,856 168,650 899,431 7,370 (54,425) (47,056) Total Costs 1,115,136 1,068,080 Insert your text explanation of the variances here. 491,904 537,772 45,868 75,000 35,000 68,500 75,000 35,000 68,500 18,000 18,000 196,500 Total Overhead 196,500 295,404 62,035 341,272 71,667 45,868 9,632 233,369 269,605 36,235

MRO Department - 2020 Results 3 Revenues (billed out): 4 - Labor (hrs.) 5 - Labor rate ($/hr.) 6 - Parts (S/hr.) 7 Costs: 3 - Labor (hrs.) 9 - Labor ($/hr.) 10 - Parts (% of revenue) Budget 3,456 Actual Fav./(Unfav.) 3,648 Change in Gross Margin 45,868 192 120 120 Labor Variance Revenue (hrs.) Parts Variance Revenue (hrs.) Revenue ($/hr.) Costs (hrs.) Costs ($/hr.) 345 320 (25) 3,840 3,877 Rate (S/hr.) Costs (hrs.) 37 42 44 2 80% 77% -3% Labor ($/hr.) 11 12 Revenues: 13 - Labor 14 - Parts Total Mark-up S Fav./(Unfav.) Other 437,760 414,720 1,192,320 1,168,092 23,040 Total (24,228) 15 16 Costs: 17 - Labor 18 - Parts 19 20 e1 Gross Margin 22 Overhead: 23 - Space 24 - General & Admin. 25 - Depreciation 26 - Legal & Regulatory 27 28 29 Net before Taxes 30 Taxes 31 Net after Taxes Total Revenues 1,607,040 1,605,852 (1,188) 161,280 953,856 168,650 899,431 7,370 (54,425) (47,056) Total Costs 1,115,136 1,068,080 Insert your text explanation of the variances here. 491,904 537,772 45,868 75,000 35,000 68,500 75,000 35,000 68,500 18,000 18,000 196,500 Total Overhead 196,500 295,404 62,035 341,272 71,667 45,868 9,632 233,369 269,605 36,235

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 77E: Ratio Analysis The following information was taken from Logsden Manufacturings trial balances as of...

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2019 2018 Revenue 28,433,361 28,264,711 Cost of sales (23,661,338) (27,476,274) Gross Profit 4,772,023 788,437 Other income 983,548 825,880 Selling and distribution cost (265,996) (441,622) General and admin expenses (4,811,357) (4,462,336) Impairment loss on trade and receivables (418,860) (164,745) Operating profit/(loss) 259,358 (3,454,386) Finance income 6,060 52,495 Finance cost (4,573,435) (3,813,211) Loss before tax (4,308,017) (7,215,102) Income tax expense 945,908 (4,796,545) Loss of the year (3,362,109) (12,011,647) Other comprehensive income Revaluation of PPE 19,470,901 - Remeasurements of defined benefit liability (1,374,562) 89,638 Related tax (3,216,132) 119,050 Other comprehensive income 14,880,207 208,688 Total comprehensive income 11,518,098 (11,802,959) 2019 2018 Assets…
2019 2018 Revenue 28,433,361 28,264,711 Cost of sales (23,661,338) (27,476,274) Gross Profit 4,772,023 788,437 Other income 983,548 825,880 Selling and distribution cost (265,996) (441,622) General and admin expenses (4,811,357) (4,462,336) Impairment loss on trade and receivables (418,860) (164,745) Operating profit/(loss) 259,358 (3,454,386) Finance income 6,060 52,495 Finance cost (4,573,435) (3,813,211) Loss before tax (4,308,017) (7,215,102) Income tax expense 945,908 (4,796,545) Loss of the year (3,362,109) (12,011,647) Other comprehensive income Revaluation of PPE 19,470,901 - Remeasurements of defined benefit liability (1,374,562) 89,638 Related tax (3,216,132) 119,050 Other comprehensive income 14,880,207 208,688 Total comprehensive income 11,518,098 (11,802,959) 2019 2018 Assets…
2019 2018 Revenue 28,433,361 28,264,711 Cost of sales (23,661,338) (27,476,274) Gross Profit 4,772,023 788,437 Other income 983,548 825,880 Selling and distribution cost (265,996) (441,622) General and admin expenses (4,811,357) (4,462,336) Impairment loss on trade and receivables (418,860) (164,745) Operating profit/(loss) 259,358 (3,454,386) Finance income 6,060 52,495 Finance cost (4,573,435) (3,813,211) Loss before tax (4,308,017) (7,215,102) Income tax expense 945,908 (4,796,545) Loss of the year (3,362,109) (12,011,647) Other comprehensive income Revaluation of PPE 19,470,901 - Remeasurements of defined benefit liability (1,374,562) 89,638 Related tax (3,216,132) 119,050 Other comprehensive income 14,880,207 208,688 Total comprehensive income 11,518,098 (11,802,959) 2019 2018 Assets…
Year ended December 31, 2023 2022 2021 Revenues $4,578,041 $3,864,324 $3,003,610 Costs and expenses: Cost of goods sold $2,227,189 $2,089,089 $2,005,691 Selling and administrative 922,261 836,212 664,061 Interest 29,744 32,966 30,472 Other expenses (income) 1,475 2,141 (43) Total costs and expenses $3,180,669 $2,960,408 $2,700,181 Income before income taxes $1,397,372 $903,916 $303,429 Income taxes 229,500 192,600 174,700 Net income $1,167,872 $711,316 $128,729 Venus IndustriesConsolidated Balance Sheets (in thousands) December 31, ASSETS 2023 2022 Current assets: Cash and equivalents $291,284 $260,050 Accounts receivable, less allowance for doubtful accounts of $19,447 and $20,046 826,977 616,064 Inventories 592,986 512,917 Deferred income taxes 26,378 28,355 Prepaid expenses 40,663 32,977 Total current assets $1,778,288 $1,450,363 Property, plant, and equipment $571,032 $497,795 Less accumulated depreciation (193,037)…
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Net income for 2020 was P1.825.600.in 2021. it decreased by 53%. Still using the 2020 net income as the base year, by 2022, net income increased by 130%. Determine the net income for 2021 and 2022. respectively separate the valves by a commafollowed by a space :
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