s net operating income if 15,920 units are sold
Q: 3. Presented below are excerpts from the income statements of Ralos Company for the years ended…
A: given information The unit cost decreased by 10% on January 1, 2021
Q: A company has sales of $378,600 and its gross profit is $159,100. Its cost of goods sold equals
A: Cost of Goods Sold means cost incurred by the company to sell the goods to customers. The cost which…
Q: A high tech company reported sales of $220,000, cost of goods sold of $150,000 and inventory of…
A: Solution: Gross Profit is Sales minus Cost of goods sold. Sales - Cost of goods sold = Gross profit…
Q: A company has net sales of $770,300 and cost of goods sold of $556,300. Its net income is $21,910.…
A: Sales = $770,300 Cost of goods sold = $ 556,300 Gross Margin = $ 214,000
Q: Horner Corporation reported net sales of $150,000, cost of goods sold of $96,000, operating expenses…
A:
Q: The following income statement for Curbstone Company was prepared for the year ended August 31,…
A: The income statement is prepared to find the net income or losses incurred during the period.
Q: A company has sales of Ghc1,000. The company sell three types of goods. Sixty percent of sales are…
A:
Q: A company’s net sales are $675,000, its cost of goods sold is $459,000, and its net income is…
A: Answer: a.32%
Q: -) The Company had sales of $1,850,000 and Cost of Goods of $875,000 for the year ended 12/31/18.…
A: As requested to answer the third question so we are answering only that.
Q: a company reported a sale revenue for $700000. the gross profit margin is 60% and the selling…
A: The income statement is one of the essential parts of the financial statement used for reporting the…
Q: A company’s net sales were $221,100, its cost of goods sold was $75,800, and its gross profit was…
A: Given: Net sales = $221,100 Cost of goods sold = $75,800 Gross profit = $145,300
Q: Hernando Manufacturing, Inc. reported the following information for the year: Number of Units…
A: Unit Product Cost = Cost of Goods Manufactured / Number of Units Produced
Q: A retail company TGT has sales of $1,120,000 and total costs of $955,000, including depreciation and…
A: Profit margin = Net profit / Sales * 100
Q: Assume Marigold Company has the following reported amounts: Sales revenue $ 500,000, Sales returns…
A: Net sales are the difference between gross sales and sales discount and allowance. but the gross…
Q: During the current year, Sokowski Manufacturing earned income of $422,100 from total sales of…
A: Sales margin is the amount that is generated by the sale of product or services. It is calculated by…
Q: A company has sales of $695,000 and cost of goods sold of $278,000. Its gross profit equals:…
A: The question is based on the concept of Accounting Ratios.
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A: Income statement Particulars Amount $ Sales (230,000 units * $9.70) 2,231,000 Less: Cost of…
Q: Jasin Company projected operating income (based on sales of 450,000 units) for the coming year as…
A: Break-even point (BEP): Breakeven is the point where total expenses are equal to total revenue. at…
Q: A company made net sales revenue of $500,000, and cost of goods sold totaled $300,000. Calculate its…
A: When two numerical values are compared with each other, the result is known as a ratio. Ratio…
Q: Prada Company maintains a mark up of 60% based on sales. The company's selling and administrative…
A: Solution: Sales = P1,440,000 Markup on sales = 60% Cost of sales = 40%
Q: Sage Hill Corporation had sales of $3,360,000 for the year ended December 31, 2022. The unit selling…
A: The income statement shows the net income or net loss of the company. It is calculated by deducting…
Q: Target has Sales Revenues of 6000, Accruals or 3500, and Operating Costs of 2500. Calculate Target's…
A: Operating income is the income earned on sale of goods and services and after deducting all type of…
Q: Presented below are excerpts from the income statements of Ralos Company for the years ended…
A: Cost of goods sold if unit cost not decreased = Cost of goods sold / (1 - decrease %) = 1,584,000…
Q: East Mullett Manufacturing earned operating income last year as shown in the following income…
A: Average Operating Assets = (Beginning Operating Assets + Ending Operating Assets)/2 Margin = Net…
Q: If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit…
A: Gross Profit: Gross Profit is the difference between the net sales, and the cost of goods sold.…
Q: A company has sales of $729,000 and cost of goods sold of $292,000. Its gross profit equals:
A: Sales - Cost of goods sold = Gross profit
Q: Net Sales of a merchandising company in the current year is $2, 310 million and its Cost of Goods…
A: Gross profit: It can be defined as the excess of a company's sales revenue over the direct expenses…
Q: Net sales amounted to P50,000 with cost of sales representing 75%. If operating expenses is 10% of…
A: Net income = Sales * ( 1 - Cost of sales ) - Operating expense
Q: The income statement of GMA Company for the years ended December 31, 2020 and 2021 showed the…
A: 2021 Units Sold (Actual) = 88000 2020 Units Sold (Budgeted)= 80000 Budgeted Price / Planned price…
Q: A company has sales of $742,600 and cost of goods sold of $297,600. Its gross profit equals:
A: Formula: Gross Profit= Sales - Cost of goods sold
Q: A company has Sales of $8,000,000; Accounts Receivable of $250,000; Cost of Goods Sold of…
A: Gross profit is an excess amount of revenue over the cost of goods sold. It also indicates the…
Q: Zhang Company reported Cost of goods sold of $853,000, beginning Inventory of $40,800 and ending…
A: Average inventory = (Beginning inventory + Ending Inventory)/ 2
Q: Presented below are excerpts from the income statements of Ralos Company for the years ended…
A: Selling price is the price at which company is selling its products or the services to the customers…
Q: a company has sales of 763000 and cost of goods sold of 306,000 its gross profit equals (457,000)…
A: Gross Profit:-It is the amount company receives when the cost of the product deducted from total…
Q: Briggs Company has operating income of $36,000, invested assets of $180,000, and sales of $720,000.…
A: Solution- (1) Profit margin = operating income/sales = $36000/$720000 = 5% (2) investment…
Q: X Company had the following information available for 2020: Number of units sold 32,000 units…
A: Contribution per unit Selling price per unit - Variable cost per unit $1250 - $750 $500 Option b…
Q: 2. Compute sales units required to realize income from operations of $630,000.
A: Income from operation: Income from operations is the amount of income earned from business…
Q: Monty Corp. reported net sales $610,000, cost of goods sold $366,000, operating expenses $151,000,…
A: Introduction: Profit margin: It tells the profitability of the company so its a profitability ratio.…
Q: Darby Company, operating at full capacity, sold 124,200 units at a price of $84 per unit during the…
A: 1. Variable costs $Fixed costs Cost of goods sold (3,696,000 in 60:40) $2217600 1478400…
Q: Brad Gravel Pitt Company has sales of $495,000 and cost of goods sold of $302,000. Selling and…
A: Gross profit is the excess of sales over the cost of goods sold. It shows the profit earned by the…
Q: Our company is a manufacturer and has the following data available for the current year: sales,…
A: Cost of goods sold = Beginning finished goods inventory + cost of goods manufactured - Ending…
Q: If Net Sales is $10,500, Cost of Goods Sold is $5,400, Gross Profit is $5,100 and Operating…
A: Net income from operation means the income arrived by deducting from sales , the following items :-…
Q: 1. During the current year, Swarouskii Manufacturing earned income of P350,000 from total sales of…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: Briggs Company has operating income of $108,955, invested assets of $283,000, and sales of $990,500.…
A: Return on Investment- It refers to the percentage of profit earned by investing money in a business…
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- Cost of Goods Sold As an accountant for Lee Company, your supervisor gave you the following calculations of the gross profit for the first quarter: Alternative Sales ($50 per unit) Cost of Goods Sold Gross Profit A $500,000 $200,000 $300,000 B 500,000 228,000 272,000 C 500,000 213,333 286,667 The three alternative cost flow assumptions are FIFO, average, and LIFO (the alternatives are not necessarily presented in this sequence). Lee uses the periodic inventory system. The computation of the cost of goods sold under each alternative is based on the following data: Units Cost/Unit Inventory, January 1 12,000 $20 Purchase, January 10 4,000 21 Purchase, February 15 6,000 22 Purchase, March 10 8,000 23 1. Prepare schedules proving the cost of goods sold shown here under each of the three alternatives. For average cost. LEE COMPANY Schedules of Cost of Goods Sold For First Quarter Ended March 31 FIFO LIFO Average Beginning…Assume a merchandising company uses the high-low method to separate any mixed costs into their variable and fixed elements. It provided the following income statements: Sales in units. Sales Cost of goods sold Gross margin Selling and administrative expenses: Advertising Shipping Salaries and commissions Total selling and administrative expenses Net operating income Multiple Choice O $60,770 $64,170 What is the total estimated selling and administrative expense if the company sells 4,940 units? $59,370 May 4,800 $ 168,000 86,400 81,600 $64,310 17,000 16,800 29,600 63,400 $ 18,200 June 5,000 $ 175,000 90,000 85,000 17,000 17,500 30,000 64,500 $ 20,500 July 5,500 $ 192,500 99,000 93,500 17,000 19,250 31,000 67,250 $ 26,250Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income Req 1 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales? Req 2 Complete this question by entering your answers in the tabs below. Req 3 to 5 $ 240,000 $ 16,000 $ 160,000 8,000 ? 9,600 12,000 ? 48,000 $ 14,400 $ $ $ Prepare a traditional format income statement. $ $ $ Selling and…
- Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income Req 1 Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in responses to changes in unit sales? Req 2 Complete this question by entering your answers in the tabs below. $ 240,000 $ 16,000 $ 160,000 $ 8,000 ? $ 9,600 12,000 ? 48,000 $ 14,400 Req 3 to 5 3. Calculate the selling price per unit. 4. Calculate the variable cost…Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,000 $12 2/4 Purchase 2,000 18 2/20 Sale 2,500 30 4/2 Purchase 3,000 23 11/4 Sale 2,200 33 Instructions Compute cost of goods sold, assuming Ehlo uses: a. Periodic system, FIFO cost flow. b. Perpetual system, FIFO cost flow. c. Periodic system, LIFO cost flow. d. Perpetual system, LIFO cost flow. e. Periodic system, weighted-average cost flow. f. Perpetual system, moving-average cost flow.Tariq Company is a multiproduct firm. Presented below is information concerning one of its products, the Jayhawk Date Transaction Quantity Unit Cost 1/1 Beginning inventory 1,100 OMR12 2/4 Purchase 2,200 18 2/20 Sale 2,800 30 4/2 Purchase 3,100 23 11/4 Sale 2,300 33 Instructions: Compute cost of goods sold, assuming Tariq uses periodic system, FIFO cost flow.
- Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. $ 480,000 $ 32,000 $ 320,000 $ 16,000 ? $ 19,200 $ 24,000 ? $ 96,000 $ 28,800 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 to Required 6 5 Prepare a contribution format income…Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales Beginning merchandise inventory Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income Required: 1. Prepare a contribution format income statement. 2. Prepare a traditional format income statement. 3. Calculate the selling price per unit. 4. Calculate the variable cost per unit. 5. Calculate the contribution margin per unit. $ 435,000 $ 29,000 $ 290,000 $ 14,500 ? $ 17,400 $ 21,750 ? $ 87,000 $ 26,100 6. Which income statement format (traditional format or contribution format) would be more useful to managers in estimating how net operating income will change in response to changes in unit sales? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 to 5 Req 6 Prepare a contribution format income statement. Todrick…The following information is available for Bramble Corp.: Sales Cost of goods sold $520000 0 0 0 0 300000 Total fixed expenses A CVP income statement would report contribution gross profit of $220000. contribution gross profit of $260000. Total variable expenses margin of $260000. margin of $370000. $150000 260000
- The following information is available for Concord Company: Sales Total fixed expenses Cost of goods sold Total variable expenses $301000 $51600 103200 86000 What amount would you find on Concord's CVP income statement? General 41:18 O gross profit of $197800 • contribution margin of $163400 O contribution margin of $215000 O gross profit of $163400By using the information given below calculate the net income under the traditional costing method. Show your calculations. (No beginning finished goods inventory.) Variable cost of goods sold per unit Fixed cost of goods sold per unit Variable operating expenses per unit Fixed operating expenses per unit Selling price Number of units sold Number of units produced 18,000 20,000 $4.00 $ 3.00 $1.50 $1.25 $12.00Metlock Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 2,000 $15 2/4 Purchase 3,000 23 2/20 Sale 3,500 38 4/2 Purchase 4,000 29 11/4 Sale 3,200 42 Compute cost of goods sold, assuming Metlock uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.) Cost of goods sold (a) Periodic system, FIFO cost flow $ (b) Perpetual system, FIFO cost flow $ (c) Periodic system, LIFO cost flow $ (d) Perpetual system, LIFO cost flow $ (e) Periodic system, weighted-average cost flow $ (f) Perpetual system, moving-average cost flow $