Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense Rent expense-Selling space Sales staff wages Prepare a multiple-step income statement. Expenses Selling expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total expenses $ FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 Other revenues, gains, expenses & losses Total other revenues, gains, expenses & losses 6,230 640 1,380 218,000 31,300 10,500 23,700 Depreciation expense-Office copier $ Sales discounts Sales returns and allowances TV advertising expense Interest revenue Cost of goods sold Sales commission expense 0 0 0 0 0 0 0 0 500 15,200 3,900 3,000 670 89,900 13,400

Given the information below find net profit/loss in dollars for the month of June Guest Hotel Inc. Income Statement for the period ending June 30, 2021 Sales Food 179,178 79,882 Beverage Total Sales Cost of Sales Food Beverage Total cost of goods sold- Gross Profit Controllable Expenses Salaries & Wages Occupancy Office & General Utilities 77,074 26,752 100,578 27,123 11,364 9.144 Transportation Kitchen supplies Professional fees Advertising Social Media Expenses 10,750 Vehicle Total Controllable Expenses Net Profit / Loss 5.908 8,035 7.000 7,788 4.907

Please create an income statement and include gross profit percentage.

The following transactions pertain to Year 1, the first-year operations of Rooney Company. All inventory was started and completed during Year 1. Assume that all transactions are cash transactions. 1. Acquired $4,900 cash by issuing common stock. 2. Paid $660 for materials used to produce inventory. 3. Paid $1,900 to production workers. 4. Paid $1,078 rental fee for production equipment. 5. Paid $90 to administrative employees. 6. Paid $106 rental fee for administrative office equipment. 7. Produced 340 units of inventory of which 190 units were sold at a price of $13 each. Required Prepare an income statement and a balance sheet in accordance with GAAP.

PR 21-6A Contribution margin, break-even sales, cost-volume-profit chart, OBJ. 2, 3, 4, 5 margin of safety, and operating leverage Wolsey Industries Inc. expects to maintain the same inventories at the end of 2016 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Estimated Variable Cost Fixed Cost (per unit sold) Production costs: Direct materials.... $ 46 Direct labor .... 40 Factory overhead. Selling expenses: $200,000 20 Sales salaries and commissions... 110,000 8 Advertising... Travel .... Miscellaneous selling expense 40,000 12,000 7,600 1 Administrative expenses: Office and officers' salaries . 132,000 Supplies... Miscellaneous administrative expense. Total ... 10,000 4 1 13,400 $525,000 $120 It is…

Continued from previous question

The following is the year ended data for Tiger Company: Sales Revenue Cost of Goods Manufactured Beginning Finished Goods Inventory Ending Finished Goods Inventory Selling Expenses Administrative Expenses What is the cost of goods available for sale? O A. $5,700 OB. $29,300 OC. $26,700 O D. $24,300 $51,000 28,000 1,300 2,600 15,100 3,500

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 Selling expenses Administrative expenses Sales Finished goods inventory, January 1 Finished goods inventory, January 31 $4,490,000 530,000 340,000 6,600,000 880,000 775,000 (a) For the month ended January 31, determine Bandera's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 Finished goods inventory, January 1 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, January 31 Cost of goods sold