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Mice21 [21]
3 years ago
7

The centralized computer technology department of Hardy Company has expenses of $320,000. The department has provided a total of

4,000 hours of service for the period. The Retail Division has used 2,750 hours of computer technology service during the period, and the Commercial Division has used 1,250 hours of computer technology service. Additional data for the two divisions is following below: Retail Division Commercial Division Sales $2,150,000 $1,200,000 Cost of goods sold 1,300,000 800,000 Selling expenses 150,000 175,000 Determine the divisional income from operations for the Retail Division and the Commercial Division. Do not round interim calculations. Hardy Company Divisional Income from Operations Retail Division Commercial Division $ $ $ $ $ $ Income from operations $ $
Business
1 answer:
Irina-Kira [14]3 years ago
8 0

Answer:

Retail Division  $480,000

Commercial Division  $30,000

Explanation:

To measure divisional income consider only those items attributable to a particular division.

Retail Division

Sales                                                                             2,150,000

<em>Less</em> Cost of Sales                                                       (1,300,000)

Controllable Contribution                                              850,000

<em>Less</em> Controllable Fixed Cost :

Selling expenses                                                          (150,000)

Allocated Central Cost (2,750/4,000×$320,000)     (220,000)

Divisional Profit Contribution                                       480,000

Commercial Division

Sales                                                                              1,200,000

<em>Less</em> Cost of Sales                                                        (800,000)

Controllable Contribution                                              400,000

<em>Less</em> Controllable Fixed Cost :

Selling expenses                                                          (150,000)

Allocated Central Cost (1,250/4,000×$320,000)      (220,000)

Divisional Profit Contribution                                         30,000

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Answer:

$14,343.25

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First city bank pays 8% simple interest in a savings account

Second city bank pays 8% interest compounded annually

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The first step is to calculate the simple interesr per year of first city bank

= principal × rate

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The interest earned for the period of 8 years can be calculated as follows.

= 5,440 × 8

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The balance at the end of 8 years can be calculated as follows

= 68,000 + 43,520

= 111,520

The next step is to calculate the future value of second city bank

= principal × (1+R)^n

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= 68,000 × (1+0.08)^8

= 68,000 × 1.08^8

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Therefore the amount of money earned from second city bank at the end of 8 years can be calculated as follows

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