What is the cost price variance?A. 8,000UB. 6,000FC. 9,000UD. 7,500U Bulldogs Inc. sells the following products. The following were obtained from the records:2022ProductsCost of SalesGross ProfitUnits soldSales12,000.00Dog Food10,000.002,000.00500.00Dog Treats10,000.009,000.001,000.00250.0022,000.0019,000.003,000.00750.002021ProductsSalesCost of SalesGross ProfitUnitsDog Food11,000.0010,000.00250.0010,000.008,000.001,000.002,000.00Dog Treats250.0021,000.0018,000.003,000.00500.00

Cost price variance = Actual units 2022 *( Actual Cost 2022 - Actual cost 2021 )

Bulldogs Inc. sells the following products. The following were obtained from the records: 2022 Cost of Sales Units sold Products Dog Food Dog Treats Sales 12,000.00 Gross Profit 2,000.00 10,000.00 500.00 10,000.00 9,000.00 19,000.00 1,000.00 250.00 22,000.00 3,000.00 750.00 2021 Cost of Sales Products Dog Food Dog Treats Gross Profit 1,000.00 2,000.00 Sales Units 11,000.00 10,000.00 10,000.00 8,000.00 250.00 250.00 21,000.00 18,000.00 3,000.00 500.00

Bulldogs Inc. sells the following products. The following were obtained from the records: 2022 Cost of Sales Units sold Products Dog Food Dog Treats Sales 12,000.00 Gross Profit 2,000.00 10,000.00 500.00 10,000.00 9,000.00 19,000.00 1,000.00 250.00 22,000.00 3,000.00 750.00 2021 Cost of Sales Products Dog Food Dog Treats Gross Profit 1,000.00 2,000.00 Sales Units 11,000.00 10,000.00 10,000.00 8,000.00 250.00 250.00 21,000.00 18,000.00 3,000.00 500.00

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

See similar textbooks

Similar questions

Calculate the gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and Return inwards OMR 6000, Return outwards 4000, Purchases 15000. a. OMR 5000 b. OMR 8000 c. OMR 6000 d. OMR 12000
Financial information is presented below: Operating expenses Sales returns and allowances 3000 Sales discounts Sales revenue Cost of goods sold The gross profit rate would be 0.40. 0.60. 0.44. $ 45000 0.38. 8000 180000 101000
compute net sales, gross profit, and the gross profit ratio for each of the four seperate companies. Round gross margin ratio to one decimal place. carrier lennox trane york sales 150000 550000 38700 255700 sales discounts 5000 17500 600 4800 sales returns and allowances 20000 6000 5100 900 cost of goods sold 79750 329589 24453 126500
2. The following data are given on the only one product of Glory Co. 2020 2021Sales volume 3,000. 2,600Unit Selling price. P 8.00. P 11.00Unit cost. 5.00 9.00 Prepare the gross profit statement and analyze the variation in gross profit
The following information relates to CEE Company: (Refer to image). Assume that the company uses the average cost approach. What is the cost ratio? Express your answer in percentage and round up to two decimal points. * Retail Cost 500,000.00 Inventory, 12/31/2021 725,000.00 Purchases 1,285,000.00 2,220,000.00 Purchase returns 20,000.00 35,000.00 Purchase discounts 30,000.00 Sales (after employee discounts) 2,450,000.00 Sales returns 125,000.00 Sales allowances 70,000.00 Mark-ups Mark-up cancellations 160,000.00 70,000.00 Mark-down 65,000.00 Mark-down cancellations 32,000.00 Freight in Employee discounts Normal loss from breakage 65,000.00 15,000.00 10,000.00
Financial information is presented below: Operating Expenses Sales Returns and Allowances Sales Discounts Sales Cost of Goods Sold Gross profit would be $89000 25000 11000 290000 157000
The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; COGS: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? (Round to the nearest whole percentage.)
The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
Calculate gross profit from the following? Sales OMR 50000, Cost of goods sold OMR 30000 and Return inwards OMR 10000. a. OMR 10000 O b. OMR 30000 O c. OMR 20000 O d. OMR 90000
Zion Ltd. has reported the following figures in their books of accounts. Sales of OMR 10000, Carriage inwards of OMR 750, Sales Discount of OMR 1250 and sales return of OMR 1000. Calculate net sales? a. OMR 12250 b. OMR 11000 c. OMR 7750 d. OMR 11250
Amira trading Co. reported the following figures in their books of accounts. Sales of OMR 40000, Carriage inwards of OMR 3000, Sales Discount of OMR 5000 and sales return of OMR 4000. Calculate net sales? a. OMR 36000 b. OMR 35000 c. OMR 31000 d. OMR 28000
Consider the following incomplete table of a merchandiser's profit data. Calculate the missing amounts to complete the table. (Click the icon to view the data.) Sales $ 90,000 $ 104,000 $ 65,600 Sales Returns and Allowances 920 1,610 840 Sales Discounts 630 800 470 2,060 Net Sales 88,450 99,700 Cost of Goods Sold 60,700 40,600 76,800 Gross Profit 34,000 34,900