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CrownedQueen
26.11.2019 •
Business
The following financial information was summarized from the accounting records of buddy corporation for the current year ended december 31: beagle division dalmatian division corporate total cost of goods sold $47,200 $30,270 direct operating expenses 27,000 20,400 net sales 99,000 87,000 interest expense $2,040 general overhead 18,160 income tax 4,700
required: calculate:
(a) the gross profit for the dalmatian division. $
(b) the income from operations from the dalmatian division. $
(c) the gross profit for the beagle division. $
(d) the income from operations from the beagle division. $
(e) the net income for buddy corporation. $
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Ответ:
(a) $56,730
(b) $36,330
(c) $ 51,800
(d) $24,800
(e) $36,230
Explanation:
(a) Gross profit for the Dalmatian Division:
= Net sales - Total Cost of goods sold
= $87,000 - $30,270
= $56,730
(b) Income from operations from the Dalmatian Division:
= Gross Profit - Direct operating expenses
= $56,730 - $20,400
= $36,330
(c) Gross profit for the Beagle Division:
= Net sales - Total Cost of goods sold
= $99,000 - $47,200
= $ 51,800
(d) Income from operations from the Beagle Division:
= Gross Profit - Direct operating expenses
= $51,800 - $27,000
= $24,800
(e) Total income from operations;
= $36,330 + $24,800
= $61,130
Earnings before interest and taxes:
= Total income from operations - General overhead
= $61,130 - $18,160
= $42,970
Earnings before taxes:
= Earnings before interest and taxes - Interest expense
= $42,970 - $2,040
= $40,930
Net income = Earnings before taxes - Income taxes
= $40,930 - $4,700
= $36,230
Ответ: