jholland03
27.05.2021 •
Business
Information on Kimble Company's direct labor costs for the month of January is as follows: What is Kimble's direct labor rate variance
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Ответ:
The answers have been provided below
Explanation:
a. A comparative income statement with horizontal analysis for the two-year period, while using 20Y1 as the base year have been analysed and attached. In the picture attached, the increase or decrease in the amount was gotten from the year 20Y2 and 20Y1.
For example for sales,
Sales 20Y2 = $16,800,000.00
Sales 20Y1 = $15,000,000.00
Amount = $16,800,000.00 - $15,000,000.00 = $1,800,000
Percentage increase = ($1,800,000 ÷ $15,000,000)× 100 = 12%
The same method was applicable to every other figures.
b. We can see that the sales for year 20y2 rose by 12% even though the net income has a negative value of -5.8%.
We can see that there is also a rise in operating expenses of the firm at a higher rate than the increase in the sales rate of the company. The income from operation also reduced by 7.6%. These are some of the reasons which led to the negative net income.