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Question: There are two companies, Sparky and Bear that are very similar. Their sales and operating income are the same as well as their operating income ratio, 10%. In addition, Sparky has a variable cost ratio of 30% and Bear has a variable cost ratio of 60%. Last, Sparky and Bear have fixed costs of $60,000 and $30,000, respectively.
Answer the following:
a) Which company has the lower breakeven? Higher breakeven?
b) Which company's operating income is more sensitive to sales volatility?
c) If sales increase by 25% what is the percentage change in operating income for both Sparky and Bear?
Calculate the value of the closing inventory using the (a) FIFO method (b) LIFO method (c) weighted average method.
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Prince Corporation purchased 960,000 shares of Smithtown Corporation's common stock (an 80% interest) for 21,200,000 on January 1, 2006. The 2,000,000 excess of investment cost over book value acquired was allocated to goodwill-Calculate the balan..
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