Use the percent-of-sales method to prepare a pro forma income statement for the year ended December 31, 2015, for Hennesaw Lumber, Inc. Hennesaw Lumber, Inc. estimates that its sales in 2015 will be $4,500,000. Interest expense is to remain unchanged at $105,000 and the firm plans to pay cash dividends of $150,000 during 2015. Hennesaw Lumber, Inc.'s income statement for the year ended December 31, 2014 is shown below. From your preparation of the pro forma income statement, answer the following multiple choice question. Income Statement Hennesaw Lumber, Inc. For the Year Ended December 31, 2014 Sales Revenue $4,200,000 Less: Cost of goods sold 3,570,000 Gross profits $ 630,000 Less: Operating expenses 210,000 Operating profits $ 420,000 Less: Interest expense 105,000 Net profits before taxes $ 315,000 Less: Taxes (40%) 126,000 Net profits after taxes $ 189,000 Less: Cash dividends 120,000 To: Retained earnings $ 69,000 The pro forma net profits after taxes for 2015 are .

The following cost data pertain to the operations of montgomery department stores, inc., for the month of july. corporate legal office salaries $ 75,300apparel department cost of sales"evendale store $ 97,200corporate headquarters building lease $ 50,300store manager's salary"evendale store $ 12,900apparel department sales commission"evendale store $ 11,550store utilities"evendale store $ 12,800apparel department manager's salary"evendale store $ 10,450central warehouse lease cost $ 18,600janitorial costs"evendale store $ 11,800 the evendale store is just one of many stores owned and operated by the company. the apparel department is one of many departments at the evendale store. the central warehouse serves all of the company's stores. required: 1. what is the total amount of the costs listed above that are direct costs of the apparel department? 2. what is the total amount of the costs listed above that are direct costs of the evendale store? 3. what is the total amount of the apparel department's direct costs that are also variable costs with respect to total departmental sales?

< back to assignment attempts: 1 1 keep the highest: 1 / 2 2. determining opportunity cost juanita is deciding whether to buy a suit that she wants, as well as where to buy it. three stores carry the same suit, but it is more convenient for juanita to get to some stores than others. for example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the suit: store travel time each way price of a suit (minutes) (dollars per suit) local department store 15 102 across town 30 88 neighboring city 60 65 juanita makes $42 an hour at work. she has to take time off work to purchase her suit, so each hour away from work costs her $42 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location. store opportunity cost of time price of a suit total cost (dollars) (dollars per suit) (dollars) local department store 102 across town 88 neighboring city 65 assume that juanita takes opportunity costs and the price of the suit into consideration when she shops. juanita will minimize the cost of the suit if she buys it from the . grade it now save & continue continue without saving

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