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Question 1

Question 2

Ending Balance Joel de Paris, Incorporated Balance Sheet Beginning Balance Assets Cash $ 135,000 Accounts receivable 349,000 Inventory 570,000 Plant and equipment, net 836,000 Investment in Buisson, S.A. 392,000 Land (undeveloped) 250,000 Total assets $ 2,532,000 Liabilities and Stockholders' Equity Accounts payable $ 374,000 Long-term debt 976,000 Stockholders' equity 1, 182,000 Total liabilities and stockholders' equity $ 2,532,000 $ 140,000 480,000 481,000 829,000 431,000 250,000 $ 2,611,000 $ 333, 000 976,000 1, 302,000 $ 2,611,000 Joel de Paris, Incorporated Income Statement Sales $ 4,966,000 Operating expenses 4, 270, 760 Net operating income 695, 240 Interest and taxes: Interest expense $ 112,000 Tax expense 194,000 306, 000 Net income $ 389, 240 The company paid dividends of $269,240 last year. The "Investment in Buisson, S.A." on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15% Required: 1. Compute the company's average operating assets for last year. 2. Compute the company's margin, turnover, and return on investment (ROI) for last year. (Round "Margin", "Turnover and "Ror" to 2 decimal places.) 3. What was the company's residual income last year? % 1. Average operating assets 2. Margin 2 Tumove 2. ROI 3. Residual income Imperial Jewelers manufactures and sells a gold bracelet for $407.00. The company's accounting system says that the unit product cost for this bracelet is $271.00 as shown below: Direct materials Direct labor Manufacturing overhead Unit product cost $ 149 85 37 $ 271 The members of a wedding party have approached Imperial Jewelers about buying 25 of these gold bracelets for the discounted price of $367.00 each. The members of the wedding party would like special filigree applied to the bracelets that would increase the direct materials cost per bracelet by $13. Imperial Jewelers would also have to buy a special tool for $461 to apply the filigree to the bracelets. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $14.00 of the overhead is variable with respect to the number of bracelets produced. The company also believes that accepting this order would have no effect on its ability to produce and sell jewelry to other customers. Furthermore, the company could fulfill the wedding party's order using its existing manufacturing capacity Required: 1. What is the financial advantage (disadvantage) of accepting the special order from the wedding party? 2. Should the company accept the special order