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Hatshy [7]
2 years ago
12

Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet da

ta are as of the end of the fiscal year (in millions).
2017

2016

Net sales $5,121.8 $5,286.7
Cost of goods sold 3,540.6 3,679.8
Net income 75.9 135.8
Accounts receivable 81 107.1
Inventory 1,203.5 1,358.2
Total assets 2,993.9 3,249.8
Total common stockholders’ equity 921.6 1,074.7

Compute the following ratios for 2017. (Round asset turnover to 2 decimal places, e.g 1.83 and all other answers to 1 decimal place, e.g. 1.8 or 2.5%)

(a) Profit margin
Entry field with correct answer

%
(b) Asset turnover
Entry field with incorrect answer

times
(c) Return on assets
Entry field with correct answer

%
(d) Return on common stockholders’ equity
Entry field with incorrect answer

%
(e) Gross profit rate
Entry field with correct answer

%

Business
1 answer:
romanna [79]2 years ago
5 0

Answer: a) 1.48%

B) 1.64%

C) 0.024%

D)0.08 times

E) $1,581.2

Explanation:

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The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding Industries. In a
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Answer:

Actual Price paid for materials = $4.2136 \times 2,200 = $9,270

Actual price per unit = $4.2136

Explanation:

Provided information,

Standard Material per unit = $4

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Provided Material Price variance = $470 unfavorable = - $470

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= (Standard Quantity - Actual Quantity) \times Standard Rate

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-$400/$4 = 2,100 - Actual Quantity

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Now, putting this value in Material Price Variance we have,

- $470 = ($4 - Actual Price) \times 2,200

-$470/2,200 = $4 - Actual Price

- $0.214 = $4 - Actual Price

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Final Answer

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Actual price per unit = $4.2136

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