Hallstead Jewelers Case Study Class: Managerial Accounting Instructor: Robert O’Haver 1. The break even point in units and sales have increased form 2003 to 2004 to 2006 due to the greater increase in fixed costs especially from expanding the business as well as insufficient average sales and unit sales to compensate these changes. The margin of safety has decreased over the years due to the increase in expenses and the lack of gross profit to compensate
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Background description Hallstead Jewelers is a large retailer specializing in jewelry and gift. It was started up as a family business and has gained reputation through their 83 years history. Hallstead provides customers with extensive collections of products‚ including jewelry‚ gems‚ watches‚ tabletop and artistic gifts‚ by its four sales departments. However‚ the market place of Hallstead was challenged as the emergence of nearby modernized shopping center which has impacted customers’ consumption
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Case Overview For forty years the Levis owned and operated a jewelry store. They had survived many financial ups and downs over the years‚ but the current declining cash position of the company was nearing critical. On more than one occasion Mrs. Levi had suspected Betty‚ a long term‚ reliable‚ employee for over twenty years‚ might be stealing from the company. Betty not only worked as a sales clerk‚ but she also handled all of the cash and bank deposits and maintained all of the sales and
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Hallstead Jewelers Managerial Accounting ACCT 2301 – Case Analysis 1 September 29‚ 2010 Melissa Ng Variable costs are made up of cost of goods sold plus sales commissions. Fixed costs are made up of salaries‚ advertising‚ administrative expenses‚ rent‚ depreciation‚ and miscellaneous expenses. Assuming all questions are answered independently: 1. Income statement using the contribution approach: | 2004 | 2005 | 2007 | Sales | $8‚583‚000 | $8‚102‚000 | $10‚711‚000 | Less:
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1.0 ABOUT THE CASE Hallstead Jewelers was one of the largest jewellery and gift stores in the United States for 83 years. Customers came from throughout the region to buy from extensive collections in each department. Any gift from Hallstead’s had an extra cache attached to it as they were known for having the best. Even though the principal retail shopping areas shifted two blocks west‚ Hallstead’s reputation and selection still brought in customers. In 1999 however‚ sales became stagnate and
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INTRODUCTION De Beers Diamond Jewelers’ is the quintessential diamond jeweler‚ giving substance to style‚ bringing together the diamond’s dualities of science and poetry‚ melding its rich history and long traditions with contemporary creativity and cutting-edge craftsmanship. The diamond is a sparkling‚ celebratory symbol of continuity and eternity‚ of reassurance and hope for the future‚ and De Beers brings this beautiful symmetry into the light with its classically elegant jewelers. For a century and
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The Street of the Finest NYC Jewelers The splendor of the NYC jewelers can be traced by the path that ends at jewelry district NYC. Imagine a place full of diamonds‚ pearls‚ jewelry and you are standing at the midst of it. A place where you could break the boundaries of diamonds and jewelries free from the rest of your experiences. To let your eye savor each moment staring at the beautiful stones‚ shapes and designs in wonder. Well‚ this wonder land actually exists and famous by the name of jewelry
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Site description - type of business/organization mission‚ objectives James and Sons Fine Jewelers is a family owned business that was founded by James Sunderland Sr. in 1964. Mr. Sunderland started out as a small jeweler and rare coin salesman. Eventually James’ daughter Anne and two sons James Jr. and John joined the company and today they have expanded their sales to engagement rings. James and sons Jewelers currently has three locations. Two locations are in the chicagoland area and their third
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ABE Section: 4pm Howard Street Jewelers‚ Inc. 1. Identify the internal control concepts that the Levis overlooked or ignored. In the Howard Street Jewelers case‚ I strongly believe that Levis didn’t perform any internal control. According to the internal control concept‚ internal controls to work to achieve organizational objective of effectiveness and efficiency of operations‚ reliability of financial reporting‚ and compliance with applicable laws and regulations. In this case‚ Levis should
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for their needs. The company recognizes that not everyone wants a diamond‚ however‚ and has expanded to offer many other items‚ such as Pandora charms and bracelets‚ Burberry pieces and Charles Krypell Jewelry in Florida. Individuals visiting this jeweler discover finding the perfect piece has never been easier‚ thanks to the variety offered and the friendly‚ helpful staff. Anyone in the St. Petersburg area should be sure to check this retailer out. Charles Krypell started as a sculptor before turning
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