Hot shot delivery inc. provides the following year end data:

2018 2017

cash $65,000 $38,000

accounts receivable 60,000 39,000

merchandise inventory 66,000 26,000

property, plant & equip 219,000 154,000

total assets 410,000 257,000

sales revenue $530,000

cost of goods sold 180,000

interest expense 30,000

net income 112,000

calculate the rate of return on total assets for 2018.

55.3%

52.5% incorrect.

42.6%

27.3%

Stephen barrett,md previous writing experience ?

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.

Miller company’s most recent contribution format income statement is shown below: total per unit sales (20,000 units) $300,000 $15.00 variable expenses 180,000 9.00 contribution margin 120,000 $6.00 fixed expenses 70,000 net operating income $ 50,000 required: prepare a new contribution format income statement under each of the following conditions (consider each case independently): (do not round intermediate calculations. round your "per unit" answers to 2 decimal places.) 1. the number of units sold increases by 15%.