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2 years ago

The following information is available for Bandera Manufacturing Company for the month ending January 31:

Business

1 answer:

elena-14-01-66 [18.8K]2 years ago

4 0

Answer:

Answer: Cost of goods sold, gross profit and net income

Explanation:

Bandera Manufacturing Company

Cost of Goods Sold

Jan-31

Finished Goods Inventory, January 1 73590

Add: Cost of Goods Manufactured 306090

Total Goods Available for Sales 379680

Less: Finished Goods Inventory, January 31 67080

Cost of Goods Sold 312600

Bandera Manufacturing Company

Gross Profit

Jan-31

Sales 651250

Less: Cost of Goods Sold 312600

Gross Profit 338650

Bandera Manufacturing Company

Net Income

Jan-31

Gross Profit 338650

Operating Expenses:

Selling expenses 102250

Administrative expenses 54050

Less: Total Operating Expense 156300

Net Income 182350

Digital Vibe Manufacturing Company

Income Statement

For the Month Ended January 31

Sales 232300

Less: Cost of goods sold 103400

Gross profit 128900

Less: Operating expense

Selling expense 59400

Administrative expense 26100

Total operating expense 85500

Net income 43400

Particulars Amount ($)

Materials purchased 48300

Less: Materials used for production 37200

Ending balance of materials 11100

Particulars Amount ($)

Materials used for production 37200

Add: Direct labor wages 55500

Add: Factory overhead 78200

Total cost of manufacturing 170900

Less: Transferred to finished goods 129900

Ending balance of work-in-process 41000

Particulars Amount ($)

Transfer from work-in-process 129900

Less: Cost of goods sold 103400

Ending balance of finished goods 26500

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3 years ago

1. What are the three key assets that Walmart can leverage (build on) to compete with Amazon and other online retailers

Colt1911 [192]

Answer:

The 3 important assets that Walmart can be used to remain competitive with Amazon have been listed below.

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Driven by the increasing utilization of internet shopping, retail chains, together with Walmart, were concerned about its business model. However, as Walmart is still in a safe stance and has been for some moment, it could be said that this same corporation does have some methodologies to encourage Amazon, its biggest throughout the world corporation.

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2 years ago

Balance Sheet (partial) Stockholders’ equity Paid-in capital Preferred stock, cumulative, 11,833 shares authorized, 7,100 shares

pickupchik [31]

Answer:

a) 548,000 shares

b) The stated value = $3 per common stock.

c) The par value of the preferred stock = $100

d) The dividend rate of preferred stock = 7%

e) Reported for retained earnings = $1,079,600

Explanation:

A. Number of outstanding common stock = Number of Common stock - Treasury stock

Given,

Number of Common stock issued = 555,000 shares

Treasury stock = 7,000 common shares

Treasury stock is the purchasing of the company's own stock from the market.

Therefore, Number of outstanding common stock = (555,000 - 7,000) shares

Number of outstanding common stock = 548,000 shares.

The stock of the firm has no par value. It means the full amount is either in the premium or in stated value. Therefore, the firm's declared value of the common stock is the total common stockholders' equity divided by the total number of common stock issued.

Hence, the formula is,

The stated value = $\frac{total common stockholders' equity}{total number of issued common stock}$

The stated value = $\frac{1,665,000}{555,000}$

The stated value = $3 per common stock.

We know,

The par value of the preferred stock = $\frac{Total preferred stock amount}{Number of preferred stock}$

Given,

Total preferred stockholders' equity = $710,000

Number of preferred stock = 7,100 shares

Putting the value in the formula,

The par value of the preferred stock = $\frac{710,000}{7,100}$

The par value of the preferred stock = $100

It is the selling price to the preferred stockholders for every preferred stock.

Given,

The annual dividend = $49,700

Total preferred stockholders' equity = $710,000

We know, the dividend rate of preferred stock = $\frac{Annual Dividend paid to the preferred stockholders}{Total preferred stockholders' equity}$ x 100

Therefore,

The dividend rate of preferred stock = $\frac{49,700}{710,000}$ x 100

The dividend rate of preferred stock = 7%

This is a fixed rate and for this firm, it is cumulative. Therefore, the firm's preferred stockholders' will receive 7% dividend per year.

Since the preferred stock of this firm is cumulative, therefore, the dividend has to be paid to the preferred stockholders if there are any outstanding amount remains in the previous year. Therefore, if there were $71,400 arrears of dividends, the firm would give those amounts from the retained earnings' balance.

Given,

Retained earnings = $1,151,000

Arrear preferred dividend = $ (71,400)

The balance would be reported for retained earnings = $1,079,600

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