Use the following selected information from Whitman Corp. to determine the Year 1 and Year 2 common size percentages for operating expenses using Net sales as the base. Year 2 Year 1 Net sales$292,600? $244,200? Cost of goods sold 156,400? 129,980? Operating expenses 56,890? 54,830? Net earnings 28,660? 20,410?
A. 119.8% for Year 2 and 100.0% for Year 1.
B. 19.4% for Year 2 and 22.5% for Year 1.
C. 53.5% for Year 2 and 53.2% for Year 1.
D. 34.0% for Year 2 and 30.8% for Year 1.
E. 23.3% for Year 2 and 15.7% for Year 1.
Answer: B
You might also like to view...
Jones & Company, a major retail chain across the United States, offers a wide range of consumer goods such as clothing, furniture, home appliances, cosmetics, jewelry, and food. Jones & Company is best described as a ________
A) supermarket B) department store C) specialty store D) pop-up store E) category killer
Crude Oil Exploration Co includes all exploration costs on the balance sheet under Property, Plant, and Equipment. Which accounting method is Crude Oil using to account for exploration costs?
a. All effort basis b. Successful-efforts c. Full determination d. Full-costing
Which of the following accurately describes an organic organization?
A. a flexible organization that fosters fast decision making and high employee motivation B. a flexible organization that fosters slow decision making and high employee motivation C. an inflexible organization that fosters fast decision making and high employee motivation D. an inflexible organization that fosters slow decision making and high employee motivation
The UCLA Medical Center is facing sanctions from California's Department of Health because several of its employees viewed records of famous patients, patients with whom the employees had no contact or care responsibilities. The employees viewed the records of, among others, Maria Shriver (wife of Governor Arnold Schwarzenegger), the late Farrah Fawcett, and Britney Spears. The unauthorized
access to the records was uncovered when the story of the late Ms. Fawcett's recurrence of cancer was published in The National Enquirer before Ms. Fawcett had disclosed her health condition to family or friends. Ms. Fawcett's lawyers then notified the hospital of the only possible source of the information. Which category of an ethical breach applies to the conduct of the hospital employees? a. Committing acts of personal decadence b. Conflict of interest c. Divulging information d. Balancing ethical dilemmas