All categories

3 years ago

Ncome statement data for Winthrop Company for two recent years ended December 31 are as follows: Current Year Previous Year

Business

1 answer:

AnnyKZ [126]3 years ago

6 0

Answer:

Answer is attached in the excel file.

Explanation:

Sales have increased by 280,000 in the current year which shows a difference of 14%, this seems to be result of increased no of units sold or selling price increase.

The Cost of Goods sold is increased by 210,000 which makes 12% difference. This is 2% less than rise in sales which means the increase in sales is due to selling price increase.

As a result of this Gross Profit has also increased by 70,000 which is 28% rise.

Selling expense increased by 25% which is due to increased marketing of the product which increased sales.

Admin expense increased by 22%, might be due to increase in salary expense of the staff.

Income before Income tax is increased by 66%, Income tax is increased by 66% and also Net Income increased by 66%.

Download xlsx

You might be interested in

On January 1, 2021, Splash City issues $460,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and

Effectus [21]

Answer:

The journal entry is shown below:

Explanation:

Journal Entry.

Jan.1 Cash A/c Dr $460,000

To Bonds payable A/c $460,000

(Bond issue is being recorded)

Jun.30 Interest Expense A/c Dr $18,400

To Cash A/c $18,400 ($460,000×4% = $18,400)

(Interest is being recorded)

Dec.31 Interest Expense A/c Dr $18,400

To Cash A/c $18,400 ($460,000×4% = $18,400)

(Interest is being recorded)

3 0

3 years ago

Suppose the price is $6 per sheet of plywood. Suppose the price falls to $4 per sheet of plywood.How much of the increase in con

Pie

Answer:

"$2,500" is the appropriate answer.

Explanation:

The question given seems to be incomplete. Below there is a attachment of full question is provided.

The given values are:

Plywood's price,

= $6 per sheet

Price falls,

= $4

Now,

At price $6, the consumer surplus will be:

= $0.5\times 1000\times (10-6)$

= $0.5\times 1000\times 4$

= $2,000$ ($)

When price falls, the consumer surplus will be:

= $0.5\times 1500\times (10-4)$

= $0.5\times 1500\times 6$

= $4,500$ ($)

Hence,

The increase in consumer surplus will be:

= $4500-2000$

= $2,500$ ($)

7 0

3 years ago

The following information was collected for the first year of manufacturing for Appliance Apps: Direct Materials per Unit $2.50

lara31 [8.8K]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the total unitary variable cost:</u>

Total unitary variable cost=2.5 + 1.5 + 0.25 + 1.5

Total unitary variable cost= $5.75

<u>Now, the variable costing income statement:</u>

Sales= 33,000*12= 396,000

Total variable cost= (33,000*5.75)= (189,750)

Total contribution margin= 206,250

Fixed Manufacturing Expenses= (117,000)

Fixed Selling and Administration Expenses= (21,000)

Net operating income= 68,250

4 0

3 years ago

Suppose that in your first year of college you spend $31,300.00 more than you eam. In your second year, your expenses increase a

ryzh [129]

Answer: See explanation

Explanation:

Based on the information provided in the question, the deficit in the 3rd year of college will be: = $32,150

The total debt that one owes in the 3rf year will then be the addition of the debts from the 1st to the 3rd year and this will be:

= $31,300 + $31,900 + $32,150

= $63,232

5 0

3 years ago

Read 2 more answers

Yolanda's Coffee Shop makes a blend that is a mixture of two types of coffee. Type A coffee costs Yolanda $4.25 per pound, and t

vovangra [49]

Answer:

she used type A coffee is 62 pounds

Explanation:

given data

Type A coffee costs = $4.25 per pound

type B coffee costs = $5.60 per pound

this month Yolanda made = 155 pounds

this month total cost = $784.30

to find out

How many pounds of type A coffee did she use

solution

we consider here that this month type A coffee used = x

and type B coffee used = y

so equation will be

x + y = 155 ..................1

and cost equation

4.25 x + 5.60 y = 784.30 ...............2

now from equation 1 we get y

y = 155 - x .........................3

put this value in equation 2

4.25 x + 5.60 y = 784.3

4.25 x + 5.60 ( 155 - x) = 784.3

solve this equation we get

x = 62

so she used type A coffee is 62 pounds

3 0

3 years ago