A company reported the following information for the month of July: Net sales $ 57,500 Cost of goods sold 33,200 Required: Calculate this company's gross margin ratio.

The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $261,020 Selling expenses 87,190 Administrative expenses 46,100 Sales 555,370 Finished goods inventory, January 1 62,760 Finished goods inventory, January 31 57,200 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income.

The Income Statement columns of the August 31 (year-end) work sheet for Ralley Company are shown here. To save time and space, the expenses have been grouped together into two categories.   INCOME STATEMENT ACCOUNT NAME  DEBIT  CREDIT       Income Summary 31,100.00 31,130.00 Sales   324,360.00 Sales Returns and Allowances 13,970.00   Sales Discounts 7,620.00   Purchases 126,210.00   Purchases Returns and Allowances   1,020.00 Purchases Discounts   1,110.00 Freight In 8,460.00   Selling Expenses 61,470.00   General Expenses 51,751.00                         300,581.00 357,620.00 Net Income 57,039.00                         357,620.00 357,620.00 From the information given, prepare an income statement for the company. Ralley CompanyIncome StatementFor Year Ended August 31, 20-- (See images)

Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $267,820 Selling expenses 89,460 Administrative expenses 47,300 Sales 569,840 Finished goods inventory, January 1 64,390 Finished goods inventory, January 31 58,690 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a)   Bandera Manufacturing Company Cost of Goods Sold January 31   $fill in the blank a5478ffe7014fe8_2   fill in the blank a5478ffe7014fe8_4   $fill in the blank a5478ffe7014fe8_6   fill in the blank a5478ffe7014fe8_8   $fill in the blank a5478ffe7014fe8_10 (b)   Bandera Manufacturing Company Gross Profit January 31   $fill in the blank b2846803800df87_2   fill in the blank b2846803800df87_4   $fill in the blank b2846803800df87_6…

The parts department shows gross sales of $116,000 and cost of goods sold of $38,000. What is the gross profit percentage of the parts department? a.32.8% b.48.7% c.51.3% d.67.2%

How do I solve this?

FInd the Weighted average cost per unit

The following Income statement was drawn from the records of Fanning Company, a merchandising firm: Sales revenue (7,000 units x $160) Cost of goods sold (7,000 units * $87) Gross margin Sales commissions (5% of sales) Administrative salaries expense Required For the Year Ended December 31, Year 1 Advertising expense Depreciation expense Shipping and handling expenses (7,000 units * $1) Net income FANNING COMPANY Income Statement Req A a. Reconstruct the Income statement using the contribution margin format. b. Calculate the magnitude of operating leverage. c. Use the measure of operating leverage to determine the amount of net Income Fanning will earn If sales Increase by 20 percent. Complete this question by entering your answers in the tabs below. Reg B and C FANNING COMPANY Income Statement For the Year Ended December 31, Year 1 Less: Variable costs Reconstruct the income statement using the contribution margin format. Less: Fixed costs $1,120,088 (609,000) 511,000 (56,000)…

Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $2,400; Cost of Goods Sold, $22,728; Income Tax Expense, $3,000; Interest Expense, $1,600; Interest Revenue, $200; General Expenses, $2,600; Net Sales, $37,880; and Delivery (freight-out) Expense, $300. Required: 1. Calculate the gross profit percentage.   2. How has Sellall performed, relative to the 24.5 percent gross profit percentage reported for Walmart in 2019? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)check all that apply Sellall Department Stores earned a higher gross profit percentage than Walmart. Walmart earned a higher gross profit percentage than Sellall Department Stores. Sellall includes more mark-up in the prices it charges customers than Walmart. Walmart includes more mark-up in prices it…

An income statement for Sam's Bookstore for the first quarter of the year is presented below. Sam's Bookstore Income Statement For Quarter Ended March 31 Sales Cost of goods sold $910,000 565,000 Gross margin 345,000 Selling and administrative expenses Selling Administrative $ 120,000 144,000 264,000 Net operating income $ 81,000 On average, a book sells for $70. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed. The net operating income using the contribution approach for the first quarter is: Multiple Choice $81,000 $280,000 $345,000 $243,600