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At year-end 2018, Marvel Company total assets were $4.5 million, and its accounts payable were $850,000. Sales, which in 2018 were $5.5 million, are expected to increase by 25% in 2019. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Marvel typically uses no current liabilities other than accounts payable. Common stock amounted to $ 2.25 million in 2018, and retained earnings were $150,000. Marvel has arranged to sell $25,000 of new common stock in 2019 to meet some of its financing needs. The remainder of its financing needs will be met by issuing new long-term debt at the end of 2019. (Because the debt is added at the end of the year, there will be no additional interest expense due to the new debt.) Its net profit margin on sales is 2.5%, and 55% of earnings will be paid out as dividends.
Question a. What were Marvel's total long-term debt and total liabilities in 2018?
Question b. How much new long-term debt financing will be needed in 2019? (Hint: AFN - New stock = New long-term debt.)
Suppose Canwest Global Communications Corp. reported net cash used by operating activities of $123,356,020 and sales revenue of $3,383,601,620 during 2022.
Compute contribution margin per unit using sales price per unit and variable cost per unit calculated. (Round to 4 decimal places)
qrecognize types of responsibility centersrecognize each responsibility center as a cost center a profit center a
Prepare contribution format income statement for the month using variable costing. Prepare income statement for the month using absorption costing.
Is the above variance report useful for evaluating how well revenues and costs were controlled during May? Why or why not?
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Nashville Corporation allocates administrative costs on the basis of staff hours. Short-run monthly usage and long-run monthly usage of the staff hours for Operating Departments 1 and 2 follow.
Determine What is the variable overhead rate variance for March? (Round the actual overhead rate to two decimal places. Indicate the effect of each variance)
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On January 1, 2015, the balance in the Work-in-Process inventory account is $12,000. Cost of goods manufactured is $290,000. How much is cost of goods sold?
What is the difference between these cost categories, and how does this information help managers improve quality?
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