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Delicious77 [7]
3 years ago
14

Jamesway Corporation has two separate divisions that operate as profit centers. The following information is available for the m

ost recent year: White divisionGrey division Sales (net)$270,000 $540,000 Salary expense37,800 64,800 Cost of goods sold135,000 202,500 The White Division occupies 25,000 square feet in the plant. The Grey Division occupies 25,000 square feet. Rent is an indirect expense and is allocated based on square footage. Rent expense for the year was $50,000. Gross profit for the White and Grey Divisions is: WhiteGrey A.$97,200 $272,700 B.$232,200 $475,200 C.$135,000 $337,500 D.$72,200 $247,700 E.$97,200 $247,700
Business
1 answer:
Nookie1986 [14]3 years ago
7 0

Answer:

White Division Gross Profit  = $72,200

Grey Division Gross Profit =  $247,700

Explanation:

                                                     White Division    Grey division

Sales (net)                                      $270,000            $540,000

Less: Cost of goods sold              <u> $135,000  </u>          <u>$202,500</u>

Gross Margin                                 $135,000             $337,500

Less: Salary Expenses                   $37,800              $64,800

Rent                                                 <u>$25,000</u>              <u>$25,000</u>

Gross Profit                                   <u> $72,200 </u>             <u>$247,700</u>

The White Division occupies 25,000 square feet in the plant. The Grey Division occupies 25,000 square feet. Hence, the rent expenses will be shared equally. Rent = $50,000 hence, both division will pay $25,000 each              for rent

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SWOT stands for Stength, Weakness, opportunity and threat.

6 0
3 years ago
Skolits Corp. issued 10-year bonds 2 years ago at a coupon rate of 8.7 percent. The bonds make semiannual payments. If these bon
kykrilka [37]

Answer:

7.36%

Explanation:

Nper = (10-2)*2 = 16

Pmt = 1000*8.7%/2 = 43.5

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YTM = Rate(16, 43.5, -1080, 1000)*2

YTM = 0.036795696 * 2

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6 0
3 years ago
Theodosia was laid off from her last job. What should she put on her next application as her reason for leaving that job?
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Answer:

O Downsizing

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8 0
3 years ago
Crimson Corp. has a component that is a discontinued operation. The component incurred a loss from operations of $40,000. The co
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Answer:

$60,000 income tax benefit

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Since Crimson Corp. had a loss from operations and sold the asset for a loss we know that they lost money with the asset and an income tax benefit was generated. To calculate the income tax benefit we need to add both losses: $40,000 (operation) + $160,000 (sale) = $200,000 in total losses.

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6 0
3 years ago
A corporation issued 6,200 shares of $10 par value common stock in exchange for some land with a market value of $94,000. The en
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Answer:

Debit Land $94,000; credit Common Stock $62,000; credit Paid-In Capital in Excess of Par Value, Common Stock $32,000

Explanation:

Preparation of what The entry to record this exchange is:

Debit Land $94,000

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Credit Paid-In Capital in Excess of Par Value, Common Stock $32,000

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6 0
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