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Linda_us
Linda_us, Finance, Accounts & Homework Tutor
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Experience:  Post Graduate Diploma in Management (MBA)
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34) Financial budgets are prepared A) to specify expectations

Resolved Question:

34) Financial budgets are prepared:
A) to specify expectations for selling, purchasing, and production.
B) to evaluate the financial results of the proposed decisions.
C) so that financial statements can be prepared for shareholders.
D) to plan for production capacity.

The management accountant for the Martino Organics has prepared the following segmented income statement for the most current year.

Produce Fish & Meat Sundries Total
Sales $80,000 $120,000 $60,000 $220,000
Variable expenses 36,000 65,000 20,000 121,000
Contribution margin 44,000 55,000 40,000 99,000
Other costs 18,000 21,000 8,000 47,000
Segment margin 26,000 34,000 32,000 52,000
Allocated avoidable costs 2,000 3,000 3,000 8,000
Segment income 24,000 31,000 29,000 44,000
Allocated corporate costs 7,000 7,000 7,000 21,000
Corporate profit $17,000 $ 24,000 $ 22,000 $ 23,000


35) If the Produce department had been eliminated prior to this year, the company would have reported:
A) greater corporate profits.
B) the same amount of corporate profits.
C) less corporate profits.
D) resulting profits cannot be determined.

36) If the Fish & Meat department (the Martino Organics Company) had been discontinued, the short-term effect on corporate profits would be a decrease of:
A) $55,000.
B) $34,000.
C) $31,000.
D) $24,000.

37) Assume that the Sundries department (the Martino Organics Company) has been discontinued and long-term capacity of the company has had time to adjust. The projected long-term effect of this action on annual corporate profits would be a decrease of:
A) $40,000.
B) $32,000.
C) $29,000.
D) $22,000.

38) Assume an advertising campaign (the Martino Organics Company) could increase revenues for any of the products by $15,000. To maximize corporate profits, the ________ department should receive the advertising dollars. Assume the cost of the advertising campaign is less than the revenues it generates.
A) Sundries
B) FIsh & Meat
C) Produce
D) From the information given, the correct product line cannot be determined.
Submitted: 2 years ago.
Category: Homework
Expert:  Linda_us replied 2 years ago.
Thanks for requesting me. I am working on these questions.

Regards

Linda
Expert:  Linda_us replied 2 years ago.
Can please recheck the data provided. As the total colum is not matching for certain items

See this

Segment margin 26,000 34,000 32,000 52,000


Regards

Linda
Customer: replied 2 years ago.

I tried to include the excel but doesnt let me



Produce Fish & Meat Sundries Total


Segment margin 26,000 34,000 32,000 52,000
Expert:  Linda_us replied 2 years ago.

You can upload it on external website like www.box.net or www.mediafire.com and share the link here.

Even the first figure of sales itself is not matching

Sales $80,000 $120,000 $60,000 $220,000

Sales Should total 80000+120000+60000 =260000


Regards

Linda











Customer: replied 2 years ago.
ok Iam register on box.net let me upload public .
Customer: replied 2 years ago.
http://www.box.net/shared/jxh09atrh9gp6710qia8

I never used before and i dont know if i did right
Expert:  Linda_us replied 2 years ago.
I am able to view the file you uploaded but this is same as what you provided earlier (basically the totals don't match).

Do you want me to answer ignoring the total column then.

Regards

Linda
Customer: replied 2 years ago.
Well Im not sure if we need the total column for any question. I was working in another questions, just go ahead if you doesnt need to use the total to answer. Im still with the Eastvaco case ( another assignment for accounting ) If not I can write to the professor
Thank you

Expert:  Linda_us replied 2 years ago.
I will provide the answer ignoring the total column and then you can update the professor on how you solved the question.

If he asks you to redo the question based on any updated information then let me know. I will redo it for you.

Regards

Linda
Customer: replied 2 years ago.
Thank you, I appreciate all your help
Expert:  Linda_us replied 2 years ago.
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Linda_us, Finance, Accounts & Homework Tutor
Category: Homework
Satisfied Customers: 7013
Experience: Post Graduate Diploma in Management (MBA)
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