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Miami Paints is a national paint manufacturer and retailer. (Click the icon to view additional information.) Assume that management has specified a 20% target rate of retum. Read the requirements. Requirement 1. Calculate each division's ROI. First enter the formula, then calculate the ROI for each division. (Enter the ROI as a percent rounded to the nearest hundredth of a percentage, X.XX%.) = ROI Paint Stores = % Consumer = % Requirement 2. Calculate each division's sales margin. Interpret your results, Enter the formula, then calculate the sales margin for each division. (Enter the sales margin as percent rounded to the nearest hundredth of a percentage. X.XX%.) Sales margin Paint Stores % Consumer % Interpret your results. The Division is more profitable on each dollar of sales. Requirement 3. Calculate each division's capital turnover. Interpret your results. First enter the formula, then calculate the capital turnover for each division. (Round to two decimal places.) Capital turnover Paint Stores times Consumer times The Division is more efficient in generating sales with its assets. Requirement 4. Use the expanded ROI formula to confirm your results from Requirement 1. Interpret your results. First enter the expanded ROI formula, then calculate the ROI for each division. (Enter the ROI as a percent rounded to the nearest hundredth of a percentage, X.XX%.) X ROI Paint Stores % = % Consumer % x % The Consumer Division's profitability on each dollar of sales is than the Paint Stores Division's profitability. However, the Paint Store Division's efficiency is significantly than the Consumer Division's efficiency. These results cause the Paint Stores Division's ROI be the Consumer Division's ROI. Requirement 5. Calculate each division's RI. Interpret your results and offer recommendations for any division with negative RI. First enter the formula, then calculate the RI for each division. (Enter the amount in thousands. Use parentheses or a minus sign for negative residual incomes.) X RI Paint Stores %) Consumer %) Interpret your results and offer recommendations for any division with negative RI. meeting management's target rate of return. The should work on improving its Improving this may help the division achieve positive residual income. Requirement 6. Total asset data were provided in this problem. If you were to gather this information from an annual report, how would you measure total assets? Describe your measurement choices and some of the pros and cons of those choices. Most companies use the asset balance since the income used in the ROI calculation is earned over the year. Management must also decide whether they wish to use the gross book value of assets or the net book value of assets. The book value is often used because it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over time due to Requirement 7. Describe some of the factors that management considers when setting its minimum target rate of return. Standard Price and Volume - Actual Results Standards: Direct materials 18.0 yards per awning at $11.00 per yard Direct labor 3.0 hours per awning at $17.00 per hour Variable MOH standard rate $4.00 per direct labor hour Predetermined fixed MOH standard rate $5.00 per direct labor hour Total budgeted fixed MOH cost $27,700 Purchased 39,000 yards at a total cost of $413,400 Used 35,000 yards in producing 2,000 awnings Actual direct labor cost of $101,378 for a total of 5,860 hours Actual variable MOH $26,370 Actual fixed MOH $30,700 The Division is more profitable on each dollar of sales. Reqi ich division's capital turnover. Interpret your results. First calculate the capital turnover for each division. (Round to two d Consumer = Capi Pain Paint Stores . II Consumer The Division is more efficient in generating sales with its assets. Requ anded ROI formula to confirm your results from Requirement First formula, then calculate the ROI for each division. (Enter the Consumer X Pain Paint Stores % Consumer 0/ The Consumer Division's profitability on each dollar of sales is than the Paint Stores Division's profitability. However, the Paint Store Division's efficiency is significantly than the Consumer Division's efficiency. These results cause the Paint Stores Division's ROI to be the Consumer Division's ROI. Requirement 5. Calculate each division's RI. Interpret your results and offer recommendations for any division with negative RI. higher First enter the formula, then calculate the RI for each division. (Enter the amount in thousands. Use parentheses or a minus sign for negative residual incomes.) X RI lower Paint Stores % ) = The Consumer Division's profitability on each dollar of sales is than the Paint Stores Division's profitability. However, the Paint Store Division's efficiency is significantly than the Consumer Division's efficiency. These results cause the Paint Stores Division's ROI to be the Consumer Division's ROI. Requirement 5. Calculate each division's RI I offer recommendations for any division with negative RI. First enter the formula, then calculate the RI he amount in thousands. Use parentheses or a minus sign for negative residual incomes.) fairly similar to RI Paint Stores higher than X %) = Consumer X %) = lower than Interpret your results and offer recommendatiunto 1v1 AMY UIVIDIUIT WILL negative RI. meeting management's target rate of return. The should work on improving its Improving this may help the division achieve positive residual income. ded in this problem. If you were to gather this information from an annual report, how would you measure total assets? Describe your measurement choices and some of the pros and cons of t Both divisions are balance since the income used in the ROI calculation is earned over the year. Neither division is wish to use the gross book value of assets or the net book value of assets. Only the Consumer Division is se it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over time due to s that management considers when setting its minimum target rate of return. Only the Paint Stores Division is meeting management's target rate of return. The should work on improving its Improving this may help the division achieve positive residual income. Requirement 6. Total asset data were provided in this problem. If you were to gather report, how would you measure total assets? Describe your measurement choices and some of the pros and cons of thos Most companies use the asset balance since the income used in the RC year. Consumer Division Management must also decide whether they wish to use the gross book value of ass ets. Paint Store Division The book value is often used because it is easily pulled from the balance she lue will artificially rise over time due to meeting management's target rate of return. The should work on improving its Improving this may help the division achieve positive residual income. Requirement 6. Total asset data were provided in this problem. If you were to gather this information from an annual report, how would y ribe your measurement choices and some of the pros and cons of those choices. Most companies use the asset balance since the income used in the ROI calculation is earned over the year. capital turnover rate Management must also decide whether they wish to use the gross book value of assets or the net book value of assets. customer service The book value is often used because it is easily pulled from the balance sheet. However, ROI using that value will artificially rise ROI Requirement 7. Describe some of the factors that management considers when setting its minimum target rate of return. sales total assets Most companies use the asset balance since the income used in the ROI calculation is earned over the year. Management must also d sh to use the gross book value of assets or the net book value of assets. The book value is it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over average Requirement 7. Describe hat management considers when setting its minimum target rate of return. beginning ending The book value is often used because it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over time due to Reqi ribe some of the factors that management considers when setting its minimum target rate of return. gross net The book value is often used because it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over time due to Requirement 7. Describe some of the factors that management considers when setting its minimum target rate of return. acquisitions of property cash balance depreciation notes receivable Choose from any list or enter any number in the input fields and then continue to the next question. prepaid expenses After-tax operating income urn. Assets less current liabilities amount X Competitors rate of return %) = with negative RI. General economic conditions at rate of return. The should work on im Interest rates on the company debt If you were to gather this information from an annual report, Investors expectations come used in the ROI calculation is earned over the year. Minimum rate of return required by investors ss book value of assets or the net book value of assets. Risk level of the division's business from the balance sheet. However, ROI using that value will a Return being earned by other divisions considers when setting its minimum target rate of return. focusing on stockholders' and creditors rate of return getting management to make sure their division is profitable goal congruence increasing the return on investment Requirement 8. Explai surement. RI does a better job of Requirement 9. Explain why budget versus actual performance reports are insufficient for evaluating the performance of investment centers. both generating profit and efficiently managing a divison's assets. Requirement 8. Explain why some firm efficiently managing a division's assets. RI does a better job of generating profit. Requirement 9. Explain why budget ve e of investment centers. Investment centers are responsible for Budget versus actual performance reports are insufficient because they do not measure Requirement 8. Explain why some firms prefer to use Rl rather than Rol for performance measurement. how efficiently the division uses its assets. RI does a better job of how much income the division generated. Requirement 9. Explain why budget versus actual performance reports are insufficient for evaluating the performance of investment centers. Investment centers are responsible for Budget versus actual performance reports are insufficient because they do not measure Miami Paints is a national paint manufacturer and retailer. (Click the icon to view additional information.) Assume that management has specified a 20% target rate of retum. Read the requirements. Requirement 1. Calculate each division's ROI. First enter the formula, then calculate the ROI for each division. (Enter the ROI as a percent rounded to the nearest hundredth of a percentage, X.XX%.) = ROI Paint Stores = % Consumer = % Requirement 2. Calculate each division's sales margin. Interpret your results, Enter the formula, then calculate the sales margin for each division. (Enter the sales margin as percent rounded to the nearest hundredth of a percentage. X.XX%.) Sales margin Paint Stores % Consumer % Interpret your results. The Division is more profitable on each dollar of sales. Requirement 3. Calculate each division's capital turnover. Interpret your results. First enter the formula, then calculate the capital turnover for each division. (Round to two decimal places.) Capital turnover Paint Stores times Consumer times The Division is more efficient in generating sales with its assets. Requirement 4. Use the expanded ROI formula to confirm your results from Requirement 1. Interpret your results. First enter the expanded ROI formula, then calculate the ROI for each division. (Enter the ROI as a percent rounded to the nearest hundredth of a percentage, X.XX%.) X ROI Paint Stores % = % Consumer % x % The Consumer Division's profitability on each dollar of sales is than the Paint Stores Division's profitability. However, the Paint Store Division's efficiency is significantly than the Consumer Division's efficiency. These results cause the Paint Stores Division's ROI be the Consumer Division's ROI. Requirement 5. Calculate each division's RI. Interpret your results and offer recommendations for any division with negative RI. First enter the formula, then calculate the RI for each division. (Enter the amount in thousands. Use parentheses or a minus sign for negative residual incomes.) X RI Paint Stores %) Consumer %) Interpret your results and offer recommendations for any division with negative RI. meeting management's target rate of return. The should work on improving its Improving this may help the division achieve positive residual income. Requirement 6. Total asset data were provided in this problem. If you were to gather this information from an annual report, how would you measure total assets? Describe your measurement choices and some of the pros and cons of those choices. Most companies use the asset balance since the income used in the ROI calculation is earned over the year. Management must also decide whether they wish to use the gross book value of assets or the net book value of assets. The book value is often used because it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over time due to Requirement 7. Describe some of the factors that management considers when setting its minimum target rate of return. Standard Price and Volume - Actual Results Standards: Direct materials 18.0 yards per awning at $11.00 per yard Direct labor 3.0 hours per awning at $17.00 per hour Variable MOH standard rate $4.00 per direct labor hour Predetermined fixed MOH standard rate $5.00 per direct labor hour Total budgeted fixed MOH cost $27,700 Purchased 39,000 yards at a total cost of $413,400 Used 35,000 yards in producing 2,000 awnings Actual direct labor cost of $101,378 for a total of 5,860 hours Actual variable MOH $26,370 Actual fixed MOH $30,700 The Division is more profitable on each dollar of sales. Reqi ich division's capital turnover. Interpret your results. First calculate the capital turnover for each division. (Round to two d Consumer = Capi Pain Paint Stores . II Consumer The Division is more efficient in generating sales with its assets. Requ anded ROI formula to confirm your results from Requirement First formula, then calculate the ROI for each division. (Enter the Consumer X Pain Paint Stores % Consumer 0/ The Consumer Division's profitability on each dollar of sales is than the Paint Stores Division's profitability. However, the Paint Store Division's efficiency is significantly than the Consumer Division's efficiency. These results cause the Paint Stores Division's ROI to be the Consumer Division's ROI. Requirement 5. Calculate each division's RI. Interpret your results and offer recommendations for any division with negative RI. higher First enter the formula, then calculate the RI for each division. (Enter the amount in thousands. Use parentheses or a minus sign for negative residual incomes.) X RI lower Paint Stores % ) = The Consumer Division's profitability on each dollar of sales is than the Paint Stores Division's profitability. However, the Paint Store Division's efficiency is significantly than the Consumer Division's efficiency. These results cause the Paint Stores Division's ROI to be the Consumer Division's ROI. Requirement 5. Calculate each division's RI I offer recommendations for any division with negative RI. First enter the formula, then calculate the RI he amount in thousands. Use parentheses or a minus sign for negative residual incomes.) fairly similar to RI Paint Stores higher than X %) = Consumer X %) = lower than Interpret your results and offer recommendatiunto 1v1 AMY UIVIDIUIT WILL negative RI. meeting management's target rate of return. The should work on improving its Improving this may help the division achieve positive residual income. ded in this problem. If you were to gather this information from an annual report, how would you measure total assets? Describe your measurement choices and some of the pros and cons of t Both divisions are balance since the income used in the ROI calculation is earned over the year. Neither division is wish to use the gross book value of assets or the net book value of assets. Only the Consumer Division is se it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over time due to s that management considers when setting its minimum target rate of return. Only the Paint Stores Division is meeting management's target rate of return. The should work on improving its Improving this may help the division achieve positive residual income. Requirement 6. Total asset data were provided in this problem. If you were to gather report, how would you measure total assets? Describe your measurement choices and some of the pros and cons of thos Most companies use the asset balance since the income used in the RC year. Consumer Division Management must also decide whether they wish to use the gross book value of ass ets. Paint Store Division The book value is often used because it is easily pulled from the balance she lue will artificially rise over time due to meeting management's target rate of return. The should work on improving its Improving this may help the division achieve positive residual income. Requirement 6. Total asset data were provided in this problem. If you were to gather this information from an annual report, how would y ribe your measurement choices and some of the pros and cons of those choices. Most companies use the asset balance since the income used in the ROI calculation is earned over the year. capital turnover rate Management must also decide whether they wish to use the gross book value of assets or the net book value of assets. customer service The book value is often used because it is easily pulled from the balance sheet. However, ROI using that value will artificially rise ROI Requirement 7. Describe some of the factors that management considers when setting its minimum target rate of return. sales total assets Most companies use the asset balance since the income used in the ROI calculation is earned over the year. Management must also d sh to use the gross book value of assets or the net book value of assets. The book value is it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over average Requirement 7. Describe hat management considers when setting its minimum target rate of return. beginning ending The book value is often used because it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over time due to Reqi ribe some of the factors that management considers when setting its minimum target rate of return. gross net The book value is often used because it is easily pulled from the balance sheet. However, Rol using that value will artificially rise over time due to Requirement 7. Describe some of the factors that management considers when setting its minimum target rate of return. acquisitions of property cash balance depreciation notes receivable Choose from any list or enter any number in the input fields and then continue to the next question. prepaid expenses After-tax operating income urn. Assets less current liabilities amount X Competitors rate of return %) = with negative RI. General economic conditions at rate of return. The should work on im Interest rates on the company debt If you were to gather this information from an annual report, Investors expectations come used in the ROI calculation is earned over the year. Minimum rate of return required by investors ss book value of assets or the net book value of assets. Risk level of the division's business from the balance sheet. However, ROI using that value will a Return being earned by other divisions considers when setting its minimum target rate of return. focusing on stockholders' and creditors rate of return getting management to make sure their division is profitable goal congruence increasing the return on investment Requirement 8. Explai surement. RI does a better job of Requirement 9. Explain why budget versus actual performance reports are insufficient for evaluating the performance of investment centers. both generating profit and efficiently managing a divison's assets. Requirement 8. Explain why some firm efficiently managing a division's assets. RI does a better job of generating profit. Requirement 9. Explain why budget ve e of investment centers. Investment centers are responsible for Budget versus actual performance reports are insufficient because they do not measure Requirement 8. Explain why some firms prefer to use Rl rather than Rol for performance measurement. how efficiently the division uses its assets. RI does a better job of how much income the division generated. Requirement 9. Explain why budget versus actual performance reports are insufficient for evaluating the performance of investment centers. Investment centers are responsible for Budget versus actual performance reports are insufficient because they do not measure