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Construction accounting and financial management 2nd Edition Steven j. Peterson - Solutions
Determine the current liabilities to net worth ratio for the construction company in Figure 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME
Determine the debt to equity ratio for the construction company in Figures 6-1 and 6-2.Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES ................ 789,839CONSTRUCTION COSTSMaterials ................. 92,214Labor
Determine the fixed assets to net worth ratio for the construction companyin Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES
Determine the current assets to total assets ratio for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME
Determine the collection period€”with and without retention€”and receivable turns for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures
Determine the average age of accounts payable and payable turns for the construction company in Figures 6-1 and 6-2. Use only the material and subcontract construction costs to calculate the average of accounts payable. What insight does this give you into the company’s financial
Determine the assets to revenues ratio for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES
Determine the working capital turns for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES
Determine the accounts payable to revenues ratio for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES
Determine the gross profit margin for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES
Determine the general overhead ratio for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES
Determine the pretax and after-tax profit margins for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES
Determine the return on assets for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES
Determine the pretax return on equity and after-tax return on equity for the construction company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN
Determine the degree of fixed asset newness for the commercial company in Figures 6-1 and 6-2. What insight does this give you into the company€™s financial operations?Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES
Determine the quick ratio for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for Eastside
Determine the current ratio for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for Eastside
Determine the current liabilities to net worth ratio for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement
Determine the debt to equity ratio for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for Eastside
Determine the fixed assets to net worth ratio for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for
Determine the current assets to total assets ratio for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement
Determine the collection period€”with and without retention€”and receivable turns for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE
Determine the average age of accounts payable and payable turns for the construction company in Figures 6-3 and 6-4. Use only the material and subcontract construction costs to calculate the average of accounts payable. What insight does this give you into the company€™s financial
Determine the working capital turns for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for Eastside
Determine the accounts payable to revenues ratio for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for
Determine the gross profit margin for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for Eastside
Determine the general overhead ratio for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for Eastside
Determine the pretax and after-tax profit margins for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for
Determine the return on assets for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for Eastside
Determine the pretax return on equity and after-tax return on equity for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4
Determine the degree of fixed asset newness for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company€™s financial operations?FIGURE 6-3 Balance Sheet for Eastside ContractorsEASTSIDE CONTRACTORSBALANCE SHEETFIGURE 6-4 IncomeStatement for
Setup a spreadsheet to calculate the financial ratios for Examples 6-1 to 6-17 for the company in Figures 2-2 and 2-3.Figures 6-1 WEST MOUNTAIN CONSTRUCTIONBALANCE SHEETFigures 6-2 WEST MOUNTAIN CONSTRUCTIONINCOME STATEMENTREVENUES ................789,839CONSTRUCTION COSTSMaterials
Determine the estimated cost of the work performed each week given the tasks€”with their associated costs and schedules€”shown in the following table.When a task spans more than one week, the costs should be divided equally among theweeks.
Determine the estimated cost of the work performed each week given the tasks€”with their associated costs and schedules€”shown in the following table.When a task spans more than one week, the costs should be divided equally among theweeks.
A project consists of three tasks. Task A is scheduled to begin at the start of Week 1 and finish at the end of Week 3. Task B is scheduled to begin at the start of Week 1 and finish at the end of Week 2. Task C is scheduled to begin at the start of Week 2 and end at the end of Week 3. The budgeted
A project consists of six tasks. Task A is scheduled to begin at the start of Week 1 and finish at the end of Week 4. Task B is scheduled to begin at the start of Week 1 and finish at the end of Week 2. Task C is scheduled to begin at the start of Week 3 and end at the end of Week 4. Task D is
The actual cost of the work performed at the end of the second week for the project in Problem 3 is $37,900. Determine the cost performance index for the project.IN PROBLEM 3 A project consists of three tasks. Task A is scheduled to begin at the start of Week 1 and finish at the end of Week 3. Task
The actual cost of the work performed at the end of the third week for the project in Problem 4 is $16,500. Determine the cost performance index for the project.IN PROBLEM 4A project consists of six tasks. Task A is scheduled to begin at the start of Week 1 and finish at the end of Week 4. Task B
Determine the total estimated cost at completion and estimated cost to complete for the project in Problem 5, assuming the cost performance index remains the same through the remainder of the job.In Problem 5, the actual cost of the work performed at the end of the second week for the project in
Determine the total estimated cost at completion and estimated cost to complete for the project in Problem 6, assuming the cost performance index remains the same through the remainder of the job.In Problem 6, the actual cost of the work performed at the end of the third week for the project in
Set up a spreadsheet to solve Problem 1.Determine the estimated cost of the work performed each week given the tasks—with their associated costs and schedules—shown in the following table.When a task spans more than one week, the costs should be divided equally among theweeks.
Set up a spreadsheet to solve Problem 2.Determine the estimated cost of the work performed each week given the tasks—with their associated costs and schedules—shown in the following table.When a task spans more than one week, the costs should be divided equally among theweeks.
Determine the annual cost, average hourly cost, and burden markup of an hourly employee given the following information. Assume the employee takes full advantage of the 401(k) benefit. The employee’s health insurance is paid for entirely by the employer. Last year the employee worked 2,104 hours
Determine the annual cost, monthly cost, and burden markup for a salaried employee given the following information. Assume the employee takes full advantage of the 401(k) benefit. ITEM COST______________Wages ........................ $80,000Bonus
Set up a worksheet to calculate the annual cost, average hourly cost, and the burden markup of an hourly employee. The spreadsheet should allow you to enter the hourly wages, the average number of hours paid for each week, number of days off per year, annual bonus ($/year), monthly allowances
Set up a worksheet to calculate the annual cost, the monthly cost, and the burden markup of a salaried employee. The spreadsheet should allow you to enter the annual salary, annual bonus ($/year), monthly allowances ($/month), the amount of employee expenses that are not subject to social security
Determine the projected costs for utilities in year 10. The inflation rate has been determined to be 0.076 and the initial cost is $56.27.
Determine the annual budget for office utilities using the data from the past 12 months shown in Figure 9-7. Utility costs are expected to increase by 8% per year due to inflation. None of the company€™s goals are expected to affect the utility costs.In Figure 9-7 UtilityCosts
Determine the annual budget for office utilities using the data from the past 12 months shown in Figure 9-7. Utility costs are expected to increase by 7% per year due to inflation. The company is planning on doubling its office space in July by expanding into some unoccupied space adjacent to its
Determine the projected costs for utilities in year 5. The inflation rate has been determined to be 0.222 and the initial cost is $57.39.
Set up Figures 9-5 and 9-6 in spreadsheets in an Excel workbook. The spreadsheet for Figure 9-5 should allow the user to recalculate the social security, Medicare, FUTA, and SUTA costs by changing the social security rate and limit, Medicare rate, FUTA rate and limit, SUTA rate and limit, the wages
A construction company has total revenues of $650,000, total construction costs of $509,000, and general overhead costs of $65,000 for the year. Determine the company’s total profit for the year and the percentage of the construction revenues that became profits.
A construction company has total revenues of $1,150,000, total construction costs of $956,000, and general overhead costs of $159,000 for the year. Determine the company’s total profit for the year and the percentage of the construction revenues that became profits.
What are the contribution margin and the contribution margin ratio for the company in Problem 1 if $15,000 of the overhead is considered variable overhead?In Problem 1 A construction company has total revenues of $650,000, total construction costs of $509,000, and general overhead costs of $65,000
What are the contribution margin and the contribution margin ratio for the company in Problem 2 if $53,000 of the overhead is considered variable overhead?In Problem 2 A construction company has total revenues of $1,150,000, total construction costs of $956,000, and general overhead costs of
Determine the break-even volume of work for a company with a fixed overhead of $250,000 and a contribution margin ratio of 11.3%.
Determine the break-even volume of work for a company with a fixed overhead of $72,000 and a contribution margin ratio of 14.0%.
Determine the break-even volume of work for a company with a fixed overhead of $138,000, a contribution margin ratio of 8.9%, and a required level of profit of $100,000.
Determine the break-even volume of work for a company with a fixed overhead of $63,000, a contribution margin ratio of 11.0%, and a required level of profit of $60,000.
A construction company has a fixed overhead of $100,000 and a variable overhead of 2% of revenue. Historically, construction costs have been 90% of revenue. What is the minimum amount of sales that are required to break even?
A construction company has a fixed overhead of $60,000 and a variable overhead of 2.5% of revenue. Historically, construction costs have been 88% of revenue. What is the minimum amount of sales that are required to break even?
Determine the break-even contribution margin ratio for a company with a fixed overhead of $115,000 and revenues of $1,500,000.
Determine the break-even contribution margin ratio for a company with a fixed overhead of $92,000 and revenues of $450,000.
Determine the break-even contribution margin ratio for a company with a fixed overhead of $115,000, revenues of $1,500,000, and a required level of profit of $85,000.
Determine the break-even contribution margin ratio for a company with a fixed overhead of $92,000, revenues of $450,000, and a required level of profit of $45,000.
Determine the profit and overhead markup for a company that wants to maintain an 8% gross profit margin.
Determine the profit and overhead markup for a company that wants to maintain a 12% gross profit margin.
Your construction company recently bid against ABC Construction Company. Your construction costs were $265,815 and you added an 11% profit and overhead markup for a total bid of $295,055. ABC’s bid was $301,251. What profit and overhead markup would you need to add to your construction costs to
Your construction company recently bid against ABC Construction Company. Your construction costs were $1,125,572 and you added a 6% profit and overhead markup for a total bid of $1,193,106. ABC’s bid was $1,179,999. What profit and overhead markup would you need to add to your construction costs
Your company completed the site work for the South Pointe office complex. The costs are shown in Figure 11-3. The site concrete labor and landscaping were done by subcontractors. The demolition and grubbing and the grading and excavation were done by the company€™s excavation crew. The
Your company completed the East Side subdivision. The costs are shown in Figure 11-4. The site concrete labor and outside lighting were done by subcontractors. The grading and excavation, sanitary sewer, water line, and storm drain were done by the company€™s excavation crew. The
Your company worked on the projects shown as follows during the last year. Analyze the different profit centers based on their gross profit margins, their return on cash invested in the projects, and their use of management€™s time.One project manager can oversee three office remodel
Your company worked on the projects shown as follows during the last year. Analyze the different profit centers based on their gross profit margins, their return on cash invested in the projects, and their use of management€™s time.One project manager can oversee four subdivisions or one
A construction company is negotiating on a construction project with a sixmonth duration. On the last day of each month the construction company may bill the owner for the work completed during the month. The owner pays the monthly bills one month after they are received. The owner also holds a 5%
A construction company is negotiating on a construction project with a sixmonth duration. On the last day of each month the construction company may bill the owner for the work completed during the month. The owner pays the monthly bills 15 days after they are received. The owner also holds a 10%
A construction company is bidding on a contract to build homes for a developer. The project consists of two types of homes and is scheduled to begin in September. The expected monthly housing starts, the cash flow that occurs between the end of the previous month and receipt of payment from the
The housing contract from Problem 3 continues on into the next year, with the last housing start occurring in April, as shown in the following table. Determine the monthly cash flows and total cash generated by the project at the end of each month and just before each payment is received from the
The construction company in Problem 1 decides to act as the owner on the project.In problem 1, A construction company is negotiating on a construction project with a sixmonth duration. On the last day of each month the construction company may bill the owner for the work completed during the month.
The construction company in Problem 2 decides to act as the owner on the project.In problem 2, A construction company is negotiating on a construction project with a sixmonth duration. On the last day of each month the construction company may bill the owner for the work completed during the month.
Set up a spreadsheet to solve Problem 1.In Problem 1, A construction company is negotiating on a construction project with a six-month duration. On the last day of each month the construction company may bill the owner for the work completed during the month. The owner pays the monthly bills one
Set up a spreadsheet to solve Problem 2.In Problem 2, A construction company is negotiating on a construction project with a six-month duration. On the last day of each month the construction company may bill the owner for the work completed during the month. The owner pays the monthly bills 15
Set up a spreadsheet similar to Figure 12-11 to solve Problem 3.FIGURE 12-11A construction company is bidding on a contract to build homes for a developer. The project consists of two types of homes and is scheduled to begin in September. The expected monthly housing starts, the cash flow that
Set up a spreadsheet similar to Figure 12-11 to solve Problem 4.FIGURE 12-11The housing contract from Problem 3 continues on into the next year, with the last housing start occurring in April, as shown in the following table. Determine the monthly cash flows and total cash generated by the project
Set up a spreadsheet to solve Problem 5.In Problem 5, the construction company in Problem 1 decides to act as the owner on the project. The construction company will be paid $500,000 for the project at the end of the seventh month. In addition to the construction costs, the construction company has
Set up a spreadsheet to solve Problem 6.In Problem 6, the construction company in Problem 2 decides to act as the owner on the project. The construction company plans to sell the project for $1,250,000 at the end of the seventh month. In addition to the construction costs the construction company
Determine the monthly cash flows and total cash generated at the end of each month and just before the payment is received for the construction of a house with the following budget and schedule.On the last day of each month the construction company may bill the owner for the work completed during
Using the tax rates for the year 2006, determine the amount of federal income tax that is due for a C corporation that has a taxable income of $356,000.
Using the tax rates for the year 2007, determine the amount of federal income tax that is due for an individual who is married filing jointly and has a taxable income of $356,000.
Determine the marginal tax rate for a corporation whose federal tax rate is 39% and whose state tax rate is 7.25%.
Determine the marginal tax rate for a corporation whose federal tax rate is 15% and whose state tax rate is 5%.
Calculate the annual difference between the cash flow and the deductibility for tax purposes of the purchase of a $20,000 truck. The truck is depreciated using the half-year convention and the 200% declining-balance method. The truck is purchased outright.
Calculate the annual difference between the cash flow and the deductibility for tax purposes of the purchase of $10,000 of office furniture. The furniture is depreciated using the half-year convention and the 200% declining-balance method. The furniture is purchased outright.
Your company spent $5,000 last year on business related meals and entertainment. Calculate the difference between the cash flow and the deductibility of these expenses for tax purposes.
Your company is planning on spending $15,000 on a company Christmas party. Calculate the difference between the cash flow and the deductibility of this party for tax purposes.
Your company paid employees who were eligible for work opportunity credit $25,000 last year. Of these wages, $21,000 is eligible for a tax credit of 40% of the wages. The remaining wages are eligible for a tax credit of 25% of the wages. The company’s wages expense must be reduced by the amount
Your company spent $5,000 for building modifications to provide access required by the Americans with Disabilities Act. These expenditures are eligible for a tax credit of 50% of the cost of the modifications. How does this affect your company’s taxes?
A construction company has an estimated profit, before taxes, of $256,452 for the year. Included in the company’s costs is $25,622 for meals and entertainment. Determine the taxable income for the company.
A construction company has an estimated profit, before taxes, of $547,852 for the year. Included in the company’s costs is $65,258 for meals and entertainment. Determine the taxable income for the company.
Other than borrowing more money—increasing the beginning balance of the bank account—what could the company in Examples 14-1 through 14-5 do to ensure that it had enough funds to prevent the bank account balance from going negative during the year?
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