ABC Manufacturing Company (ABC) is closing its books for the year ended 12/31 X4. You are...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
ABC Manufacturing Company ("ABC") is closing its books for the year ended 12/31 X4. You are aware the Management of ABC has an aggressive attitude toward achieving both their budgeted annual sales and budgeted net income. Historically, ABC's sales tend to be spread fairly uniformly throughout the year (i.e. ABC is not a seasonal business). Also, in recent years, ABC's sales have been increasing about 20% per year. You note the following calendar quarterly sales for the year-end 12/31/X4 and the two prior years - 12/31/X2 & 12/31/X3. Calendar Year Ending 12/31/X2 12/31/X3 12/31/X4 $ Sales in Quarter Ending March 31st $1,040,000 $1,210,000 $2,100,000 $ Sales in Quarter Ending June 30th $970,000 $1,230,000 $2,300,000 $ Sales in Quarter Ending September 30th $1,020,000 $1,260,000 $2,700,000 $ Sales in Quarter Ending December 31st $1,030,000 $1,280,000 $3,400,000 Required: 1. Prepare a line chart --using Excel -- of Sales by Quarter by year. The Quarters should be on the horizontal axis; dollar sales should be on the vertical axis. Your chart should have 3 lines - one for each year. Your chart should have an appropriate title. Students must submit via D2L both this line chart as well as their comments required in 2 below. 2. Please explain any concerns you have based upon your review of the completed line chart in view of the "Facts" described above. ABC Manufacturing Company ("ABC") is closing its books for the year ended 12/31 X4. You are aware the Management of ABC has an aggressive attitude toward achieving both their budgeted annual sales and budgeted net income. Historically, ABC's sales tend to be spread fairly uniformly throughout the year (i.e. ABC is not a seasonal business). Also, in recent years, ABC's sales have been increasing about 20% per year. You note the following calendar quarterly sales for the year-end 12/31/X4 and the two prior years - 12/31/X2 & 12/31/X3. Calendar Year Ending 12/31/X2 12/31/X3 12/31/X4 $ Sales in Quarter Ending March 31st $1,040,000 $1,210,000 $2,100,000 $ Sales in Quarter Ending June 30th $970,000 $1,230,000 $2,300,000 $ Sales in Quarter Ending September 30th $1,020,000 $1,260,000 $2,700,000 $ Sales in Quarter Ending December 31st $1,030,000 $1,280,000 $3,400,000 Required: 1. Prepare a line chart --using Excel -- of Sales by Quarter by year. The Quarters should be on the horizontal axis; dollar sales should be on the vertical axis. Your chart should have 3 lines - one for each year. Your chart should have an appropriate title. Students must submit via D2L both this line chart as well as their comments required in 2 below. 2. Please explain any concerns you have based upon your review of the completed line chart in view of the "Facts" described above.
Expert Answer:
Answer rating: 100% (QA)
I cant create Excel charts but I can guide you on how to create a line chart in Excel and help you a... View the full answer
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-1259565403
5th edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Posted Date:
Students also viewed these accounting questions
-
The Reading Warehouse distributes hardback books to retail stores and extends credit terms of 2/7, n/30 to all of its customers. During the month of June the following inventory transactions...
-
Explain the meaning of the terms emoluments, employments and office for the purposes of PAYE as you earn systems. 2. Explain the actual receipts basis of assessing the emoluments from the employment...
-
Question 1 This question has two parts, (A) and (B). Answer both parts. 100% Liverpool plc is a company that manufactures a number of different types of electrical goods and has a year end of 31...
-
5. Explain how Culture can help companies set legal and ethical standards?
-
An electric power plant has an overall efficiency of 15.0%. The plant is to deliver 150 MW of power to a city, and its turbines use coal as the fuel. The burning coal produces steam that drives the...
-
a. Find the probability of getting exactly 6 girls in 8 births. b. Find the probability of getting 6 or more girls in 8 births. c. Which probability is relevant for determining whether 6 is a...
-
Moove Motors Ltd produces two models of electronic scooters . The projected financial data for the month of January are as follows. Required Prepare a production budget for January. Small Large...
-
Project K has a cost of $52,125, its expected net cash inflows are $12,000 per year for 8 years, and its cost of capital is 12 percent. (Hint: Begin by constructing a time line.) a. What is the...
-
A van traveling at a speed of 3 8 . 0 mi / h needs a minimum of 5 0 . 0 ft to stop. If the same van is traveling 6 6 . 0 mi / h , determine its minimum stopping distance ( in ft ) , assuming the same...
-
A B D F Dayton, Inc. Annual Income Statement (Values in Millions) Common Size 2012 2011 2012 2011 Sales $ 178,909 $ 187,510 Cost of Sales 111.631 Gross Operating Profit Selling, General & Admin....
-
You're the assistant manager of the Luxe Hotel Resort in Palm Springs. Due to a new law as a result of the pandemic, your resort is required to limit all public areas to a maximum 60% capacity. This...
-
An investment of $10,000 has a geometric mean return of 0.1475 after 4 years. What is the value of the investment at the end of year four?
-
An organisation acquired new computer systems in 2020 for 40,00,000. The computer systems will have a scrap value of 12,00,000 at the end of 8 years, which is their expected lifetime. What will be...
-
9. As a young corporate financial analyst for Mobile Corporation, you observe that Moody's has assigned Mobile an equity rating of AA. In addition, Mobile's common equity is trading at $95, is...
-
1. Name and explain at least three unspoken "rules" or norms regarding nonverbal communication in your culture, family, friend group, etc. 2. Share a picture or short video clip (keep it rated PG) of...
-
10 Trixie has $300,000 to invest and has the following two investment options: (1) investing or borrowing at the riskless rate of 3%, and (2) a stock portfolio that has an expected return of 9%/year...
-
Which of the following is true of an endergonic reaction? The change in energy of the reaction is positive. The reaction proceeds spontaneously. The only product of the reaction is heat. The only...
-
According to a New York Times columnist, The estate tax affects a surprisingly small number of people. In 2003, . . . just 1.25 percent of all deaths resulted in taxable estates, with most of them...
-
A friend comes to you with the following problem. I provided my boss a cost equation using regression analysis. He was unhappy with the results. He told me to do more work and not return until I had...
-
Accounting is objective and precise. Therefore, performance measures based on accounting numbers must be objective and precise. Do you agree?
-
Krylon Company purchases eight special tools annually from CO., Inc. The price of these tools has increased each year, reaching $100,000 per unit last year. Because the purchase price has increased...
-
Thor Industries manufactures Airstream and other recreational vehicles (RVs). In In June 2023, an article in the Wall Street Journal stated that the inventories of RVs held by Thor dealers had risen...
-
An article in the New York Times in early 2009 stated that even though The the U.S. economy was in a recession, and movie ticket sales had increased by 17.5 percent. In contrast, during 2020, ticket...
-
An article on barrons.com observed that the U.S. dollar has been droppingand thats good news for the stock market and companies that get a large chunk of their sales from overseas. a. What does the...
Study smarter with the SolutionInn App