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Setler [38]
3 years ago
7

In its most recent financial statements, Del-Castillo Inc. reported $70 million of net income and $960 million of retained earni

ngs. The previous retained earnings were $943 million. How much in dividends did the firm pay to shareholders during the year? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000.
Business
1 answer:
alekssr [168]3 years ago
4 0

Answer:

$53,000,000

Explanation:

The amount of dividends paid by Del-Castillo Inc. can be ascertained using the retained earnings formula as follows:

retained earnings=net income+previous year retained earnings-dividends paid

retained earnings for current year is $960 million

net income is $70 million

previous year retained earnings were $943 million

dividends paid is unknown

dividends=net income+previous year retained earnings-current year retained earnings

dividends=$70 million+$943 million-$960 million

dividends=$53 million

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1. Margin = 0.32 or 32%

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Firstly, list out the parameters we were given:

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1. Operating Margin = Net Operating Income / Sales

Operating Margin = 6,100,000 ÷ 19,000,000 = 0.32

Operating Margin = <u>0.32</u> (to 2 decimal places)

Operating Margin = <u>32%</u>

<u />

2. Turnover refers to sales or revenue made during a particular period. In which case turnover is <u>$19,000,000</u>

However, if the turnover referred to is the Operating Asset Turnover, that is calculated below:

Operating Asset Turnover = Sales / Average Operating Assets

Operating Asset Turnover = 19,000,000 ÷ 36,500,000

Operating Asset Turnover = <u>0.52</u> (to 2 decimal places)

Operating Asset Turnover = <u>52%</u>

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Rivera Company manufactured two products, A and B, during April. For purposes of product costing, an overhead rate of $2.00 per
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Solution :

a). The assigned total cost is :

$A =\$ \ 8000$

$B =\$ \ 24,000$

Total overheads                                 $ 500,000

Total hours                                             250,000

Plantwide overhead rate                        $ 2

Cost assigned to :

A ( 2 x 4 x 1000)                                   $ 8,000

B ( 2 x 4 x 3000)                                  $ 24,000

b).                                                      Department 1         Department 2

Overheads                                       $ 300,000                 $ 200,000

Hours                                                   200,000                       50,000

Overhead rate                                 $ 1.50                           $ 4.00

Overheads for the product A                        $ 8,500

  (1.5 x 3 + 4 x 1) x 1000

Overheads for the product B                        $ 40,500

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c).                                                          Plant wide          Departmental

material and labor                                  $ 10                        $ 10

overheads                                               $ 8                         $ 13.50

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The difference               $ 7.70

Therefore, the increase in the selling price = $ 7.70

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