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Nezavi [6.7K]
3 years ago
10

William is thinking about raising funding for his new business. To get advice on how to proceed, he stopped by his local Small B

usiness Administration (SBA) office. The SBA adviser told William that one of the first things he needs to do is write a 25 to 35 page narrative that describes what his new business plans to accomplish and how it plans to accomplish it. The SBA adviser is telling William to write a(n) ___________.
Business
1 answer:
MakcuM [25]3 years ago
5 0

Answer:

<em>business plan</em>

Explanation:

A business plan <em>is a written overview of the future of your business, a document that shows you what to do and how to do it.</em>

When you write down a section outlining your business strategy on the back of an envelope, you've written a plan or at least one's gem.

Business plans are strategic intrinsically.

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Explanation:

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3 years ago
Luck is what happens when preparation meets opportunity.
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4 0
2 years ago
repare a contribution format income statement segmented by divisions. 2-a. The Marketing Department has proposed increasing the
Umnica [9.8K]

Question Completion:

Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) $ 1,509,000 567,040 941,968 1,036,000 $ (94,040) In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Division Central $389,000 $600,000 $520,000 East West Sales Variable expenses as a percentage of sales Traceable fixed expenses 27% 36% $283,000 $336,000 $203,000

Prepare a contribution format income statement segmented by divisions Division Total Company East Central West

The Marketing Department has proposed increasing the West Division's monthly advertising by $25,000 based on the belief that it would increase that division's sales by 19%.

Answer:

Wingate Company

a. Contribution format income statement segmented by divisions

Division                            Total Company        East      Central        West

Sales                                   $ 1,509,000   $389,000  $600,000  $520,000

Variable expenses                   567,040      217,840      162,000      187,200

Contribution margin                 941,960     $171,160   $438,000   $332,800

Traceable fixed expenses      822,000  $283,000   $336,000  $203,000

Non-traceable fixed expense  214,000

Net operating income (loss) $ (94,040)   ($111,840)   $102,000  $129,800

b. If the marketing department's proposal is implemented, the net operating loss will decrease by $38,232, i.e from $94,040 to $55,808.

Explanation:

a) Data and Calculations:

Wingate's most recent monthly contribution format income statement:

Sales                                   $ 1,509,000

Variable expenses                   567,040

Contribution margin                 941,968

Fixed expenses                     1,036,000

Net operating income (loss) $ (94,040)

Additional information:

Division                                 Central       East          West

Sales                                   $389,000  $600,000  $520,000

Variable expenses as a

 percentage of sales                 56%           27%           36%

Traceable fixed expenses $283,000  $336,000 $203,000

Increase in Division West's fixed expenses by $25,000

Expected increase in Division West's sales = 19%

Contribution format income statement segmented by divisions

Division                            Total Company        East      Central        West

Sales                                   $ 1,509,000   $389,000  $600,000  $520,000

Variable expenses                   567,040      217,840      162,000      187,200

Contribution margin                 941,968     $171,160   $438,000   $332,800

Traceable fixed expenses      822,000  $283,000   $336,000  $203,000

Non-traceable fixed expense  214,000

Net operating income (loss) $ (94,040)   ($111,840)   $102,000  $129,800

Based on new proposal:

Contribution format income statement segmented by divisions

Division                            Total Company        East      Central        West

Sales                                   $ 1,607,800   $389,000  $600,000   $618,800

Variable expenses                  602,608      217,840      162,000    222,768

Contribution margin              1,005,192     $171,160   $438,000  $396,032

Traceable fixed expenses      847,000  $283,000   $336,000  $228,000

Non-traceable fixed expense  214,000

Net operating income (loss) $ (55,808)   ($111,840)   $102,000  $168,032

5 0
2 years ago
The marketing department at your company has promised your customers that the next software release will show a 1.66-fold perfor
timurjin [86]

Answer

The answer and procedures of the exercise are attached in the images below.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 2 sheets with the formulas indications.  

4 0
3 years ago
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