1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mr_godi [17]
2 years ago
9

A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Stat

ement This Year Last Year Sales $ 7,380,000 $ 5,608,800 Cost of goods sold 4,630,000 3,512,500 Gross margin 2,750,000 2,096,300 Selling and administrative expenses: Selling expenses 1,371,000 1,076,500 Administrative expenses 711,000 609,000 Total expenses 2,082,000 1,685,500 Net operating income 668,000 410,800 Interest expense 102,000 92,000 Net income before taxes $ 566,000 $ 318,800 Members of the company’s board of directors are surprised to see that net income increased by only $247,200 when sales increased by $1,771,200.
Required:
1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

Business
1 answer:
vfiekz [6]2 years ago
3 0

Answer:

See explanation section

Explanation:

See image below to get the possible answer:

You might be interested in
Matthew's Fish Fry has a monthly target operating income of $7,200. Variable expenses are 60% of sales and monthly fixed expense
irina [24]

Answer:

The answer is C) 1.25

Explanation:

Operating Leverage= (operating income + fixed expenses) / operating income

Operating Leverage= ($7,200 + $1,800) / $7,200= 1.25

5 0
3 years ago
Real property taxes are often assessed on the value of the property at the beginning of the year. when property is sold in the m
sergejj [24]

When property is sold in the middle of year, both the buyer and seller can deduct their pro rated portion of the property tax.

The property taxes are based on the assessed value of the property. So when the property tax is pro rated at the time of the transfer, both the buyer and seller can deduct their pro rated portion of the property tax.

Buyer and seller prorations are often applied during real estate closing transactions to divide the cost of expenses like property taxes. Thus, the buyer gets a deduction for the prorated amount of property tax due after closing, and the seller gets the same deduction for the taxes.

Hence, both the buyer and seller receives the deduction for the real property tax.

To learn more about property tax here:

brainly.com/question/15227817

#SPJ4

6 0
1 year ago
The following is a partially completed lower section of a departmental expense allocation spreadsheet for Brickland. It reports
blagie [28]

Answer:

The correct option is b. $8,100

Explanation:

Since the question was asked about the allocation of maintenance department expense to assembly and the maintenance department expense is based on the square footage.

So, the following equation should be used which is shown below:

= Maintenance department expense × assembly square foot space ÷ total sum of square foot space

where,

Maintenance department expense is $18,000

Assembly square footage is 2,700

And, the total sum of square foot space equals to

=  Fabrication square foot space + assembly square foot space

= 3,300 + 2,700

= 6,000

Now, put these values on the above equation.

So, the value would be equals to

= $18,000 × 2,700 ÷ 6,000

= $18,000 × 0.45

= $8,100

The other cost is irrelevant. Thus, it is ignored while computation.

Hence, the amount of Maintenance department expense to be allocated to Assembly is $8,100

Therefore, the correct option is b. $8,100

7 0
3 years ago
In what situations is top-down planning likely to be superior to bottom-up emergent strategy development
Marianna [84]

Answer is given below :

Explanation:

  • Both strategies aim to convey and process knowledge between and within the organization. The top-down approach for sub-categories to gain insights at the senior management level breaks down a system.
  • This is a great tool to help managers identify areas of improvement using quota and monthly matrix goals. There are flaws in this strategy, employees are not involved in the process and managers do not understand the full impact of the changes made.
  • Morality can be affected because this strategy is motivated by fear and encouragement. The bottom line is that in some cases it is more complex, although employees feel motivated to provide more authority and quality work. The information is processed to a minimum and communicated to management.
  • This may help in some areas because administrators may not fully understand the process. I should use the military as an example for a top down strategy.
  • It works on the battlefield when there is no time to discuss or motivate employees. Top down is used when there is a slight change in environmental factors.
5 0
3 years ago
The osha agency is a part of the
ZanzabumX [31]
United States Department of Labor
8 0
2 years ago
Other questions:
  • As it become easier to sell an asset in the secondary market relative to alternative assets, holding everything else unchanged,
    11·1 answer
  • Explain three ways you can get home safely if the friend you rode with has drugs or alcohol in his or her system and you prevent
    8·1 answer
  • A type of national lawmaking body that is common throughout Europe is known as a __________.
    15·2 answers
  • You hold a diversified portfolio consisting of a $10,000 investment in each of 15 different common stocks (i.e., your total inve
    7·1 answer
  • Individual decision making is a good approach when:
    15·1 answer
  • Assume that Jack and Hal and Sophia enter into a valid contract for the sale of the restaurant and for the covenant not to compe
    11·1 answer
  • How do compliments and substitutes affect demand ?
    9·1 answer
  • the ABC Company has a monthly collected balance of $600,000. Its bank pays an earning credit rate of 0.75%. The Reserve Requirem
    7·1 answer
  • Pasadena candle inc, budgeted production of 785000 candles for the year. Wax is required to produce a candle. Assume 10 ounces o
    15·1 answer
  • Access Macros are built from a set of predefined actions, allowing you to automate common tasks.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!