Accounting
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Part 1
Factoring resource constraints into product mix decisions
Rose Incorporated manufactures two types of vases, small and large. The following per-unit data are available.
Small Vase Large Vase
Sale price $60 $100
Variable costs $35 $60
Machine hours required for 1 vase 1 2
Total fixed costs are $600,000, and Rose Incorporated can sell a maximum of 25,000 units of each type of vase annually. Machine hour capacity is 50,000 hours per year.
a. Determine the contribution margin per unit for each type of vase.
b. Determine the contribution margin per machine hour for each type of vase.
c. Determine the number of units of each style of vase that Rose Incorporated should produce to maximize operating income.
d. What is the dollar amount of the maximum operating income as calculated in C above?
Part 2
Financial Statement Analysis
The following information relates to Harris Corporation.
|
Account |
Current year |
Prior year |
|
Net sales (all credit) |
$520,125 |
$499,500 |
|
Cost of goods sold |
$375,960 |
$353,600 |
|
Gross profit |
$144,165 |
$145,900 |
|
Income from operations |
$ 95,500 |
$ 79,900 |
|
Interest expense |
$ 23,500 |
$ 19,500 |
|
Net income |
$ 57,600 |
$ 51,600 |
|
Cash |
$ 30,600 |
$ 15,900 |
|
Accounts receivable, net |
$ 33,800 |
$ 23,200 |
|
Inventory |
$ 42,000 |
$ 30,300 |
|
Prepaid expenses |
$ 2,000 |
$ 1,500 |
|
Total current assets |
$ 108,400 |
$ 70,900 |
|
Total long-term assets |
$ 62,000 |
$ 38,000 |
|
Total current liabilities |
$ 46,000 |
$ 41,600 |
|
Total long-term liabilities |
$ 20,000 |
$ 22,700 |
|
Common stock, no par, 3,000 shares, value $50/share |
$ 30,000 |
$ 30,000 |
Required:
a. What is the acid-test ratio for the current year?
b. What is the inventory turnover for the current year?
c. What is days’ sales in receivables for the current year?
d. What is the book value per share of common stock for the current year?
e. What is the price-earnings ratio for the current year?
f. What is the rate of return on total assets for the current year?
g. What is the times-interest-earned ratio for the current year?
h. What is the current ratio for the current year?
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