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SSSSS [86.1K]
3 years ago
9

Operating data for Swifty Corporation are presented below. 2022 2021Sales revenue $830,700 $634,900 Cost of goods sold 529,000 4

15,000 Selling expenses 124,700 73,600 Administrative expenses 78,800 53,900 Income tax expense 33,500 23,400 Net income 64,700 69,000 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)
Business
1 answer:
Anastaziya [24]3 years ago
7 0

Answer and Explanation:

The preparation of the vertical analysis is presented below:

Particulars       Amount           %      Amount    %

Sales                 $830,700 100      $634,900 100

Less:

Cost of goods sold $529,000 63.7    $415,000 65.4

Gross Profit          $301,700 36.3     $219,900 34.5

Less:

Selling Expenses $124,700 15.0       $73,600 11.6

administrative expenses $78,800 9.5   $53,900 8.5

Total Operating

expenses               $203,500 24.5 $127,500  20.9

Income before

income taxes         $98,200          11.8  $92,400  14.5

Less:

Income tax expenses $33,500 4.0    $23,400  3.7

Net Income               $64,700 7.8     $69,000 10.8

Working note

The percentage is like

= Items value ÷ sales × 100

Like for cost of goods sold

= $529,000 ÷ $830,700 × 100

= 63.68%

It is same applicable for other items also

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padilas [110]

Answer:

Total cash disbursement in July= $674,000

Explanation:

<u>First, we must determine the cash disbursements from July purchases and expenses:</u>

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Depreciation is not a cash disbursement cost.

<u>Now, from June and before:</u>

Estimated payments in July for J<u>u</u>ne purchases 220,000

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3 0
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You have received a proposal for an RFP that was sent to suppliers. One of the vendors has proposed doing the project for $12,50
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Answer:

FIXED PRICE CONTRACT

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The type of contract that is most suitable if the type of work is predictable and the requirements are well-defined and not likely to change is FIXED PRICE CONTRACT because it looks as if the vendor is asking for a cost-plus-fixed-fee contract. However, by asking for a fixed $12,500, the vendor is actually asking for a FIXED PRICE CONTRACT. The cost and fee are just the components the vendor has estimated to come up with a final price.

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Answer:

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2           224,000.00          0.762762           170,858.6793

3           238,000.00          0.666168            <u>158,547.9011</u>

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<u />

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Answer:

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3 0
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