Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 30,200 $ 35,250 $ 37,000 Accounts receivable, net 88,400 62,000 49,000 Merchandise inventory 111,000 81,200 53,500 Prepaid expenses 10,800 9,300 4,800 Plant assets, net 280,000 254,000 225,000 Total assets $ 520,400 $ 441,750 $ 369,300 Liabilities and Equity Accounts payable $ 129,200 $ 75,500 $ 51,200 Long-term notes payable secured by mortgages on plant assets 96,000 100,750 81,800 Common stock, $10 par value 163,000 163,000 163,000 Retained earnings 132,200 102,500 73,300 Total liabilities and equity $ 520,400 $ 441,750 $ 369,300 The company’s income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Current Yr 1 Yr Ago Sales $ 725,000 $ 550,000 Cost of goods sold $ 449,500 $ 341,000 Other operating expenses 232,000 126,500 Interest expense 11,200 13,000 Income tax expense 9,350 8,525 Total costs and expenses 702,050 489,025 Net income $ 22,950 $ 60,975 Earnings per share $ 1.41 $ 3.74 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago?
Answers: 3
Another question on Business
Business, 22.06.2019 00:30
Salty sensations snacks company manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. the company has budgeted the following costs for the upcoming period: 1 factory depreciation $33,782.00 2 indirect labor 84,456.00 3 factory electricity 8,446.00 4 indirect materials 40,356.00 5 selling expenses 26,900.00 6 administrative expenses 17,200.00 7 total costs $211,140.00 factory overhead is allocated to the three products on the basis of processing hours. the products had the following production budget and processing hours per case: budgeted volume (cases) processing hours per case tortilla chips 3,600 0.25 potato chips 5,300 0.11 pretzels 2,300 0.49 total 11,200 required: a. determine the single plantwide factory overhead rate.* b. use the factory overhead rate in (a) to determine the amount of total and per-case factory overhead allocated to each of the three products under generally accepted accounting principles. refer to the amount descriptions list provided for the exact wording of the answer choices for text entries.* * if required, round your answers to the nearest cen
Answers: 1
Business, 22.06.2019 16:50
Identify and describe a variety of performance rating scales that can be used in organizations including graphical scales, letter scales, and numeric scales.
Answers: 2
Business, 22.06.2019 19:20
Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.
Answers: 1
Business, 22.06.2019 22:20
With q7 assume the sweet company uses a plantwide predetermined overhead rate with machine-hours as the allocation base.and for q 10,11,13,and 14,assume that the company use department predetermined overhead rates with machine-hours as the allocation bade in both departements.7. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answers to nearest whole dollar.)total price for the job for job p -job q selling price per unit for job p q . how much manufacturing overhead was applied from the molding department to job p and how much was applied to job q? (do not round intermediate calculations.) job p job q manufacturing overhead applied for job p for job q . how much manufacturing overhead was applied from the fabrication department to job p and how much was applied to job q? (do not round intermediate calculations.)job p job q manufacturing overhead applied for job p for job q . if job q included 30 units, what was its unit product cost? (do not round intermediate calculations. round your final answer to nearest whole dollar.)14. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answer to nearest whole dollar.)total price for the job p for job q selling price per unit for job p for job q
Answers: 1
You know the right answer?
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets...
Questions
Engineering, 28.11.2021 15:50
Biology, 28.11.2021 15:50
Chemistry, 28.11.2021 15:50
Mathematics, 28.11.2021 15:50
Mathematics, 28.11.2021 16:00
Mathematics, 28.11.2021 16:00
English, 28.11.2021 16:00
Mathematics, 28.11.2021 16:00
Mathematics, 28.11.2021 16:00
Social Studies, 28.11.2021 16:00
Mathematics, 28.11.2021 16:00
