he following income statement was drawn from the records of Walton, a merchandising firm:   WALTON COMPANY Income Statement For the Year Ended December 31 Sales revenue (5,000 units × $166) $ 830,000   Cost of goods sold (5,000 units × $85)   (425,000 ) Gross margin   405,000   Sales commissions (10% of sales)   (83,000 ) Administrative salaries expense   (87,000 ) Advertising expense   (33,000 ) Depreciation expense   (45,000 ) Shipping and handling expenses (5,000 units × $1)   (5,000 ) Net income $ 152,000       Required Reconstruct the income statement using the contribution margin format. Calculate the magnitude of operating leverage. Use the measure of operating leverage to determine the amount of net income Walton will earn if sales increase by 10 percent.

The following information is available for Bandera Manufacturing Company for the month ending January 31:Cost of goods manufactured                                $4,490,000Selling expenses                                                      530,000Administrative expenses                                         340,000Sales                                                                        6,600,000Finished goods inventory, January 1                        880,000Finished goods inventory, January 31                     775,000For the month ended January 31, determine Bandera’s (a) cost of goods sold, (b) gross profit, and (c) net income.

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 $148,080 Selling expenses 49,470 Administrative expenses 26,150 Sales 315,070 Finished goods inventory, January 1 35,600 Finished goods inventory, January 31 32,450 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 Sales  $fill in the blank b71124ffbf90fa3_2 Gross profit  fill in the blank b71124ffbf90fa3_4   $fill in the blank b71124ffbf90fa3_6   fill in the blank b71124ffbf90fa3_8   $fill in the blank b71124ffbf90fa3_10 (b)   Bandera Manufacturing Company Gross Profit January 31   $fill in the blank abf993ffc04afc7_2   fill in the blank abf993ffc04afc7_4   $fill in the blank…

c. For the month ended January 31, determine Bandera Manufacturing's net income. Bandera Manufacturing Company Net Income January 31 Operating expenses: Total operating expenses Feedback Check My Work c. Gross profit minus operating expenses equals net income. Feedback Check My Work Incorrect

J Coronado, Ltd. is a local coat retailer. The store’s accountant prepared the following income statement for the month ended January 31: Sales revenue         $ 751,000   Cost of goods sold           585,780   Gross margin           165,220   Operating expenses                 Selling expense   $ 24,430           Administrative expense     50,650     75,080   Net operating income         $ 90,140   Coronado sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales. (a)     Prepare a contribution format income statement for January. (Round per unit cost to 2 decimal places, e.g. 52.75 and all other answers to 0 decimal places, e.g. 5,275.)           Per Unit select an income statement item                                                                            $enter a dollar…

A company had $270,000 in sales; $150,000 in goods available for sale; ending finished goods inventory of $30,000, and selling and administrative expenses of $65,000. Which of the following statements is true？ 1. Net income was 28% of sales 2. The costs of goods sold was $137,000 3. The beginning finished goods inventory is not determinable. 4. The gross income was $93,000

The income statement for the RUN-84979 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-84979 Income Statement Sales $151,200 54,600 96,600 Cost of goods sold Gross margin Selling and administrative expenses Selling Administration $45,400 29,096 74,496 Net operating income $ 22,104 On average, an athletic shoe sells for $72. Variable selling expenses are $14 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 8% of sales with the remainder being fixed. How much is the total contribution margin for RUN-84979 for the first quarter?

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 $4,490,000 Selling expenses 530,000 Administrative expenses 340,000 Sales 6,600,000 Finished goods inventory, January 1 880,000 Finished goods inventory, January 31 775,000   a.  For the month ended January 31, determine Bandera Manufacturing’s cost of goods sold. Bandera Manufacturing CompanyCost of Goods SoldJanuary 31   $- Select -   - Select -   $- Select -   - Select -   $- Select -   b.  For the month ended January 31, determine Bandera Manufacturing’s gross profit. Bandera Manufacturing CompanyGross ProfitJanuary 31   $- Select -   - Select -   $- Select -   c.  For the month ended January 31, determine Bandera Manufacturing’s net income. Bandera Manufacturing CompanyNet IncomeJanuary 31…

Klum's Fashions sold merchandise for $45,000 cash during the month of July. Returns that month totaled $1,000. If the company's gross profit rate is 40%, Compute the following: a) Net sales revenue b) Cost of goods sold

The income statement comparison for Forklift Material Handling shows the income statement for the current and prior year. FORKLIFT MATERIAL HANDLINGIncome statement Comparison   Current Year   Prior Year (Amounts in thousands)       Sales $33,700   $24,750 Cost of goods sold 21,905   16,830 Gross profit $11,795   $7,920 Expenses:       Wages $8,775   $6,189 Utilities 700   300 Repairs 169   325 Selling 505   300 Total Expenses $10,149   $7,114         Operating income ?   ? Operating income % ?   ? Total assets (investment base) $4,400   $1,400 Return on investment ?   ? Residual income (8% cost of capital) ?   ? A. Determine the operating income (loss) (dollars) for each year. If required round final answers to two decimal places.   Current Year   Prior Year Operating income (loss) $fill in the blank 1   $fill in the blank 2 B. Determine the operating income (loss) (percentage) for each year. If required round final answers to two…