A corporation has 6,000 shares of common stock outstanding. The net income for t
ID: 2599188 • Letter: A
Question
A corporation has 6,000 shares of common stock outstanding. The net income for the year is $250,000. Calculate earnings per share.
Peartree Inc. provides the following data:
2015
2014
Cash
$40,000
$25,000
Accounts Receivable, Net
98,000
62,000
Merchandise Inventory
70,000
50,000
Property, Plant, and Equipment, Net
180,000
120,000
Total assets
$388,000
$257,000
Net sales
$500,000
Cost of Goods Sold
150,000
Interest expense
20,000
Net income
180,000
Calculate the return on total assets for the year 2015.
Below is budgeted production and sales information for Fiesta Company for the month of December:
Product XXX
Product ZZZ
Estimated beginning inventory
30,000 units
18,000 units
Desired ending inventory
32,000 units
15,000 units
Region I, anticipated sales
320,000 units
260,000 units
Region II, anticipated sales
190,000 units
130,000 units
The unit selling price for product XXX is $6 and for product ZZZ is $15. Budgeted sales for the month are:
Below is budgeted production and sales information for Top Table Company for the month of December:
Product W_
Product Y_
Estimated beginning inventory
40,000 units
13,000 units
Desired ending inventory
34,000 units
15,000 units
Region I, anticipated sales
310,000 units
160,000 units
Region II, anticipated sales
190,000 units
240,000 units
The unit selling price for product W is $7 and for product Y is $17. Budgeted production for the month for product W is:
Northwest Product sells a single product. Budgeted sales for the year are 640,000 units. Beginning inventory is 108,000 units. The desired ending inventory is 90,000 units. The quantities of direct materials expected to be used for each finished product are given below:
Material A .50 pound per unit @ $.60 per pound
Material K 1.00 pound per unit @ $1.70 per pound
Material L 1.20 pounds per unit @ $1.00 per pound
The budgeted dollar amount of direct material K used in production for the year is:
Northwest Product sells a single product. Budgeted sales for the year are 640,000 units. Beginning inventory is 108,000 units. The desired ending inventory is 90,000 units. The quantities of direct materials expected to be used for each finished product are given below:
Material A .50 pound per unit @ $.60 per pound
Material K 1.00 pound per unit @ $1.70 per pound
Material L 1.20 pounds per unit @ $1.00 per pound
The budgeted dollar amount of direct material K used in production for the year is:
$50Explanation / Answer
1 Answer :- 41.66
2 Answer :- 65.00%
3 Answer :- $8,910,000
4 Answer :- 494,000 units
5 Answer :- $1,088,000
6 Answer :- $1,088,000
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