net sales, gross profits and net earnings. Net sales increased between years 12 and 13 by 3.21% and again between years 13 and 14 by 1.91%, as shown in the horizontal analysis line 10. The company has continued to grow its net sales for the past three years. Custom Snowboards Inc has the ability to continue increasing net sales. Gross profits have remained constant at 30.4%, as shown on the vertical analysis line 12, between years 12, 13, and 14. This demonstrates that the company has kept the
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Describe the source documents used to track direct materials and direct labor costs to the job cost sheet. Calculate a predetermined overhead rate and use it to apply manufacturing overhead cost to jobs. Describe how costs flow through the accounting system in job order costing. Calculate and dispose of overapplied or underapplied manufacturing overhead. Calculate the cost of goods manufactured and cost of goods sold. Lecture Presentation–LP2 www.mhhe.com/whitecotton1e 36 whi10777_ch02_036-087
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having effective control over the activities of different departments. 4. To compare the previous five years and present year performance of the company. 5. To give suggestion and recommendation based on the study. For the study Nirani sugars Ltd, is considered. The ratio analysis is done using the Income statements and Balance Sheets of the company between 2005 to 2009. Data Interpretation on trend ratio analysis is carried out at NSL at Kulali cross Tq: Mudhol Dist: Bagalkot Karnataka
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1 Net income is gross profit less • financing expenses. • operating expenses. • other expenses and losses. • other expenses. Question 2 On November 2, 2014, Kasdan Company has cash sales of $6,000 from merchandise having a cost of $3,600. The entries to record the day's cash sales will include: • a $3,600 credit to Cost of Goods Sold. • a $6,000 credit to Cash. • a $3,600 credit to Inventory. • d a $6,000 debit to Accounts Receivable. Question 3 Glenn Company purchased merchandise
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Financial statement CASE STUDY Qi Zhang (William) BUSN 101-002 Prof. Sommese 10/17/13 Table of Content Company Overview-------------------------------------------------------2 Financial Statement Research-----------------------------------------2 Financial Statement Analysis------------------------------------------4 Interpretive Analysis-----------------------------------------------------5 Conclusion------------------------------------------------------------------7 Work Cited----
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Fundamentals of Cost Accounting 3e William N. Lanen University of Michigan Shannon W. Anderson Rice University Michael W. Maher University of California at Davis FUNDAMENTALS OF COST ACCOUNTING Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright © 2011, 2008, 2006 by The McGraw-Hill Companies, Inc. All rights reserved. No part of this publication may be reproduced or distributed in any form or
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Year | 2008 | 2009 | 2010 | % Cost of sale | 26.3% | 27% | 63.2% | Gross profit margin | 73.7% | 73.0% | 36.8% | EBIT margin | 3.2% | 7.1% | 17% | Net profit margin | 2.8% | 6.0% | 14.3% | Return on equity | 11.5% | 27.2% | 94.1% | Return on assets | 10.4% | 22.3% | 49% | Current ratio | 5.2 | 3.3 | 1.4 | Quick ratio | 5.12 | 2.07 | 1.01 | Based on the data in case Exhibit 9, our assessment about Sift’s financial performance is that company had managed and controlled the assets
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units for $25 each on December 15. Eight of the sold units are from the December 7 purchase and seven are from the December 14 purchase. Trader uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on (a) FIFO, (b) LIFO, (c) weighted average, and (d ) specific identification. December 7 10 units @ $ 6 cost December 14 20 units @ $12 cost December 21 15 units @ $14 cost a) FIFO = 15 @ 12/unit + 15@ 14 per unit =
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turnover ratio. This ratio measures the number of times in a 12-month period that a business sells its stock. It is calculated by using the following ratio: Cost of goods sold Stock (average stock = opening stock + closing stock / 2) For example: if a business had a ‘cost of goods sold’ figure at £2 million and an average ‘stock’ figure of £0.5 million then the stock turnover ratio would be: = 4 times per year = 4 times per year £2 million
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information | Bankers | Likelihood of company meeting its interest payment on time | Managers | Profitability of each division of company | ASIC | Financial position and performance → issuing shares to public for 1st time | Shareholders | Prospects for future dividend payments | Suppliers | Probability that company will be able to pay for its purchases on time | ATO | Profitability of company based on taxation laws | Trade unions | Profitability of company since last contract with employees
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