Answer:
Part 1
<u>JANSEN COMPANY</u>
<u>Departmental Income Statement—Ski Department</u>
Sales $605,000
Cost of Sales ($425,000)
Gross Profit $180,000
Direct Expenses
Salaries ($97,000)
Utilities ($11,000)
Depreciation ($32,000)
Other Expenses ($38,000)
Operating profit $2,000
Part 2
<u>JANSEN COMPANY</u>
<u>Departmental Contribution to Overhead—Ski Department</u>
Sales $605,000
Cost of Sales ($425,000)
Gross Profit $180,000
Direct Expenses ($140,000)
Contribution $40,000
Less Overheads
Salaries ($15,000)
Utilities ($3,000)
Depreciation ($10,000)
Office Expenses (20,000)
Total Overheads $48,000
Contribution to overhead $40,000 : $48,000
Part 3
No. Jansen should not eliminate the ski department because it is making a profit on it on (Contributing towards the company costs)
Explanation:
<em>Hie, I have attached the full question as pdf below</em>
If the department is making a loss on its own, it must be eliminated. Departments must make a contribution towards the costs of the company overall
A product is made by a company and can be purchased by a consumer in exchange for money while brands are built through consumer perceptions, expectations, and experiences with all products or services under a brand umbrella.
The first rule in terms of photographic and recorded
evidence admissibility is that the photographic and recorded evidence must be
relevant in order to be admissible and for it to be counted and acceptable as
it is being done in the first place.
Answer: 0.35
Explanation:
The Price to Earnings ratio is used to value companies and is calculated by dividing the company's stock price by its earnings per share.
Earnings per share = 29,000,000/2,000,000 shares
= $14.50
PE ratio = Share price / Earnings per share
= 5.09/14.50
= 0.35
Answer: $6,040
Explanation:
To find out Robin’s allowable itemized deduction for interest paid we ADD the interest paid on the acquisition debt which is her Allowed Deductible Interest to the points that she obtained in the Initial Mortgage.
This figure is what she is allowed to deduct.
Calculating that would be,
= 4,440 + 1,600
= $6,040
Robin’s allowable itemized deduction for interest paid is $6,040.
Note that Closing costs are not Deductible but are instead added to the basis of the house.
