Kramer Enterprises reports year ed information as follows.. Sales (160,000 units) = 960,000 COGS= 640,000 Gross margin= 320,000 Operating expenses= 260,000 Operating income= 60,000

Kramer is developing the 2016 budget. in 2016 the company would like to increase selling prices by 12.5%, and as a result expects a decrease in sales volume by 9%. All other operating expesnes are expected to remain constant. Assume that costs of goods sold is a variable cost and that operating expenses are a fixed cost..

1. What is the budgeted sales for 2016?

a. 1,080,000...

b. 1,000,000...

c. 982,800...

d. 873,600...

2. What is the budgeted COGS for 2016?

a. 720,000...

b. 582,400...

c. 691,200...

d. 640,000...

3. Should Kramer increase the selling price?

a. Yes, because operating income increases for 2016...

b. Yes, because sales revenue increases for 2016

c. No, because sales volume decreases for 2016...

d. No, because gross margin decreases for 2016...

Why is it vital to maintain a designer worksheet? a. it separates the designs chosen for the season from those rejected by the company. b. it keeps a record of all designs created by the designer for a season. c. it charts out the development of an entire line through the season and beyond. d. it tracks the development of a design along with costing and production details. done

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.