SalesFoodBeverageTotal SalesCost of SalesFoodBeverageTotal cost of goods soldGross ProfitControllable ExpensesSalaries & WagesOccupancyOffice & GeneralUtilitiesTransportationKitchen suppliesProfessional feesAdvertisingGuest Hotel Inc.Income Statementfor the period ending June 30, 2021VehicleTotal ControllableExpensesNet Profit/ Loss179,17879,88277,07426,752100.57827,12311,3649.1445.9088,0357,0007,788Social Media Expenses 10.7504,907

Income statement is the financial statement prepared by the entity for the purpose of determining…

Sales Food Beverage Total Sales Cost of Sales Food Guest Hotel Inc. Income Statement for the period ending June 30, 2021 Beverage Total cost of goods sold Gross Profit Controllable Expenses Salaries & Wages Occupancy Office & General Utilities Transportation Kitchen supplies Professional fees Advertising 179,178 79,882 77,074 26,752 100.578 27,123 11,364 9.144 5,908 8,035 7,000 7,788 Social Media Expenses 10.750 Vehicle 4,907 Total Controllable Expenses Net Profit/Loss

Sales Food Beverage Total Sales Cost of Sales Food Guest Hotel Inc. Income Statement for the period ending June 30, 2021 Beverage Total cost of goods sold Gross Profit Controllable Expenses Salaries & Wages Occupancy Office & General Utilities Transportation Kitchen supplies Professional fees Advertising 179,178 79,882 77,074 26,752 100.578 27,123 11,364 9.144 5,908 8,035 7,000 7,788 Social Media Expenses 10.750 Vehicle 4,907 Total Controllable Expenses Net Profit/Loss

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1 .Cost of goods sold 2. Gross Profit
Salespersons' Report and Analysis Walthman Industries Inc. employs seven salespersons to sell and distribute its product throughout the state. Data taken from reports received from the salespersons during the year ended December 31 are as follows: Salesperson Total Sales Variable Cost of Goods Sold Variable Selling Expenses Case $612,000 $336,600 $85,680 Dix 384,000 215,040 84,480 Johnson 461,000 225,890 101,420 LaFave 460,000 147,200 101,200 Orcas 399,000 131,670 51,870 Sussman 427,000 217,770 59,780 Willbond 439,000 184,380 70,240 Required: 1. Prepare a table indicating contribution margin, variable cost of goods sold as a percent of sales, variable selling expenses as a percent of sales, and contribution margin ratio by salesperson. Round percents to the nearest whole number. Enter all amounts as positive numbers. Waltham Industries Inc.Salespersons' AnalysisFor the Year Ended December…
Salespersons' Report and Analysis Walthman Industries Inc. employs seven salespersons to sell and distribute its product throughout the state. Data taken from reports received from the salespersons during the year ended December 31 are as follows: Salesperson Total Sales Variable Cost of Goods Sold Variable Selling Expenses Case $432,000 $211,680 $86,400 Dix 347,000 166,560 72,870 Johnson 564,000 293,280 101,520 LaFave 611,000 293,280 85,540 Orcas 588,000 199,920 76,440 Sussman 437,000 214,130 74,290 Willbond 525,000 252,000 73,500 Required: 1. Prepare a table indicating contribution margin, variable cost of goods sold as a percent of sales, variable selling expenses as a percent of sales, and contribution margin ratio by salesperson. Round percents to the nearest whole number. Enter all amounts as positive numbers. Waltham Industries Inc. Salespersons' Analysis For the Year Ended…
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View Policies Current Attempt in Progress A company has the following balances: Sales revenue $312.000: Sales Returns and Allowances $2.000: Sales Discounts $4,000: Cost of Goods Sold $184,000: Operating Expenses $84,000. Assume there are no other revenues, other expenses, or income tax expense. How much is the profit margin? O 16.0% O 12.2% O 12.4% O 41.0 % eTextbook and Media Hint 4 ! Save for Later Using multiple attempts will impact your score 10% soore reduction after attempt 1 Attempts; unlimited Submit Answer
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Complete the following data taken from the condensed income statements for merchandising Companies A, B, and C. Company A Company B Company C Net income $385 $235 Sales 875 530 Gross profit 425 315 Operating expenses 45 Cost of goods sold 550 335 %24
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