SCC Corporation sells its merchandise at a gross profit of 30%. if the total sales are P 1,200,000 and purchases are P 250,000, How much is the cost of good sold? a. 360,000 b. 590,000 c. 840,000 d. 1,090,000
Q: Assume Juniper Natural Dyes made Net Sales Revenue of $90,000 and Cost of Goods Sold totaled…
A: Gross profit = Sales - Cost of Goods Sold = $90,000-$58,000…
Q: If Net sales $200,000, Cost of goods sold 90,000, Operating expenses 80,000, Net income10,000, Total…
A: Operating Income = Net Sales - Cost of goods sold - Operating expenses = $200,000 - $90,000 -…
Q: During the current year, merchandise is sold for $366, 100 cash and $1,420,000 on account. The cost…
A: Gross Profit is defined as the profit which the company makes after subtracting the costs linked…
Q: For the year ended 2012 Wendy's Retail Store's Net income is PI50,000 (10% of Net Sales). Operating…
A: Formulas: beginning merchandise inventory = Cost of sales x 20% where, Cost of sales = Net sales -…
Q: 3. Refer to the following table: What is the gross profit? Sales revenue $460,000 Cost of goods sold…
A: The gross profit is calculated as difference between sales and cost of goods sold.
Q: Jungkook Company present the following data for analysis affecting its Gross Profit. The company is…
A: Gross profit variance is computed by finding the difference between the given gross profits.
Q: A company has sales of $763,000 and cost of goods sold of $306,000 it's gross profit equals what?…
A: Gross profit can be calculated by deducting the cost of goods sold from the net sales.
Q: During the current year, the merchandise is sold for 45,870, 000. The cost of the merchandise sold…
A: Introduction: Gross profit: Deduction of cost of goods sold value from the sales value derives the…
Q: Assume that the Bubba Co. has $1,000,000 in Sales ($600,000 on account; $400,000 for cash), Cost of…
A: Gross profit: It can be defined as the excess of a company's sales revenue over the cost of goods…
Q: A company has sales of Ghc1,000. The company sell three types of goods. Sixty percent of sales are…
A:
Q: A company sells goods for $150,000 that cost $54,000 to manufacture. Which of the following…
A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…
Q: Jungkook Company present the following data for analysis affecting its Gross Profit. The company is…
A: Since we answer only up to three sub-parts, we shall answer the first three. Please resubmit a new…
Q: American Importers reports net income of $50,000 and sales revenue of S625,000. If the company's…
A: Cost of Goods Sold - Cost of Goods Sold is the cost incurred by the company for the sale. It…
Q: If the total sale is P125,750.00, the cost of sales is 42.25% of the total sales, and the operating…
A: Total sales = P125,750.00 Cost of sales = 42.25% Operating expenses = P15,429.30
Q: Amjad Trading LLC : Gross Sales are RO 82,000, Sales Returns RO 2,000, Cost of goods sold is RO…
A: Total revenue under simple step income statement = Gross Sales + Bank interest received
Q: If Ayayai Corp. has net sales of $523000 and cost of goods sold of $350000, Ayayai gross profit rate…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Sales revenues are RO 400,000, cost of goods sold is RO 310,000, and operating expenses are RO…
A: Gross profit = Sales revenue - Cost of goods sold Net profit = Gross profit - Operating expenses
Q: If the net sales 1250 000 ID selling expenses 250 000 ID., Administrative expenses 250 000 ID., the…
A: Introduction: Gross profit: Deduction of cost of goods sold from the sales value drives the Gross…
Q: I. Manly Company has the following data available for gross profit analysis : Product A Product B…
A: Manly Company has three products Product A, Product B and Product C So it is provided in the…
Q: What is the amount of gross profit?
A: Given information is: During the current year, the merchandise is sold for 45,870, 000. The cost of…
Q: Financial information is presented below: Operating Expenses $ 90,000 Sales Returns and 26,000…
A: The gross profit margin is calculated as gross profit divided by net sales revenue. Gross profit =…
Q: During the current year, merchandise is sold for $615,000 cash and $4,110,000 on account. The cost…
A: Gross profit can be defined as the excess of net sales revenue over the cost of goods sold. Gross…
Q: A company has $550,000 in net sales and $193,000 in gross profit. This means its cost of goods sold…
A:
Q: evenue for the year amounted to R4 500 000 and represents net sales to third parties of goods…
A: Gross profit = Net sales x Gross profit rate = R4,500,000 x 40% = R1,800,000
Q: The following information is available for Jisoo Company for the current year: Net Sales…
A: Cost of goods sold = sales - gross profit = 3600000-3600000*40% = 2,160,000
Q: If the sales this year amounted to P276,000, sales this year at last year’s price is P230,000, the…
A: Variance:- When there is a difference in the budgeted amount and what actually produces or occur is…
Q: Given : Avarege trade receivables of a firm is 40.000 , average finished goods is 50.000 , cost of…
A: The trade receivables turnover ratio, also known as the accounts receivable turnover ratio, is an…
Q: If Finished Goods Turnover is 5 , average Trade Receivables is 100.000, average Finished Goods is…
A: Finished Goods Turnover = Cost of goods sold / Average finished goods
Q: If sales are OMR 90,000, cost of sales is OMR 65,000, selling expenses are OMR 30,000 and…
A: Gross profit = Sales - cost of sales = OMR 90,000 - OMR 65,000 = OMR 25,000
Q: Pharoah Corp. has annual sales totaling $1218000 and an average gross profit of 20% of cost. What is…
A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…
Q: A company has sales of Gh1,000.The company sells three types of goods . Sixty percent of sales are…
A: Total sales = Gh 1000 Type A sales = 60%
Q: Lj Company's total sales was P125,750. If the gross profit is 57.75% of the sales, how much is the…
A: Cost of goods sold is the cost of goods which is sold by the company. The cost of goods sold is the…
Q: Cushman Company had $842,000 in sales, sales discounts of $12,630, sales returns and allowances of…
A: Gross profit is an excess of revenue over the cost of goods sold. It is the profit before deducting…
Q: The following are information for XYZ Company: • Gross sales - P3,000,000 Items returned by…
A: Transportation cost does not reduce sales becuase these are operating expenses.
Q: United importers report net income $50,000 and COGS of $300,000. If the company’s gross profit rate…
A: Gross profit = Net sales - Cost of goods sold If Gross profit = 40%, Cost of goods sold = 60%
Q: If the net sales 1250 000 ID ., selling expenses 250 000 ID., Administrative expenses 250 000 ID.,…
A: Solution:- Calculation of Gross profit as follows under:-
Q: Given the following amounts: Ravena Inc. P1,600,000 ales 60% of Sales ost of Sales perating Expenses…
A: Ratio analysis- A ratio analysis is a mathematical method for determining a company's liquidity,…
Q: Blossom Corp. has annual sales totaling $1146000 and an average gross profit of 20% of cost. What is…
A: Gross profit = Sales - Cost Gross profit = Sales x Gross profit (%) So, Sales = Gross profit +…
Q: If average inventory is P80,000 and the inventory turnover ratio is 20, how much is the cost of…
A: Calculate the costs of goods sold (COGS) by multiplying the average inventory which is P80,000 with…
Q: A company shows the following balances: $2,500,000 Sales Revenue Sales Returns and 450,000…
A: Gross profit is the amount of profit earned by an entity after spending on all the expenses to earn…
Q: If a company has sales revenue of $631000, net sales of $500000, and cost of goods sold of $385000,…
A: The gross profit is calculated as difference between sales and cost of goods sold. Gross profit= Net…
Q: Use the Financial information is presented below to determine the Gross Profit: Operating expenses $…
A: The gross profit is earned by the company, when the cost related to manufacturing and selling a…
Q: During the current year, goods sold in cash was $40,000 and $100,000 on credit. The cost of goods…
A: Formula: Gross profit = Sales - Cost of goods sold.
Q: he following accounts of Rex Company are as follows: Sales P480,000; Cost of goods sold P300,000;…
A: Solution: Net sales is computed as deducting sales discounts and returns and allowances from total…
Q: If the sales this year amounted to P276,000, sales this year at last year's prices is P230,000, the…
A: Variance:- When there is a difference in the budgeted amount and what actually produces or occur is…
Q: Following is the partial financial information of Candy Company. K120,000 K100,000 K800,000 К40 Net…
A: The Break-even point is that of sales at which the operating fixed cost of the company equals to the…
Q: 16. WASHY PALE Co. has the following information on December 31, 20x1: - Cost of sales is P260,000.…
A: Net profit is the total income earned by the company during an accounting year after deducting all…
SCC Corporation sells its merchandise at a gross profit of 30%. if the total sales are P 1,200,000 and purchases are P 250,000, How much is the cost of good sold?
a. 360,000
b. 590,000
c. 840,000
d. 1,090,000
Step by step
Solved in 2 steps
- The following accounting records reveal: A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 b. P28,800 A/R, end Iny, end Sales Sales Return Cost of Sales. c. P230,000 c. P30,000 P110, 000 P60,000 P250,000 P10,000 P70,000 d. P24,000 d. P200,000If cost of goods sold is $520,000 and the gross profit rate is 20%, what is the gross profit? Select one: a. $2,600,000. b. $130,000. c. $ 520,000. d. $416,000.Lj Company's total sales was P125,750. If the gross profit is 57.75% of the sales, how much is the cost of goods sold of the company? A) P54,720.05 B P53,029.73 P54,072.50 P53,129.37
- The following accounts of Rex Company are as follows: Sales P480,000; Cost of goods sold P300,000; Sales discounts P20,000; Sales returns and allowances P15,000; Purchase discounts P5,000; Purchase returns and allowances P7,000; Selling Expenses P40,000; General & Administrative expense P45,000; Interest income P5,000. What is gross margin? P145,000 P105,000 P140,000 P90,000A company has $550,000 in net sales and $193,000 in gross profit. This means its cost of goods sold equals a. $743,000. c. $357,000. e. $(193,000). b. $550,000. d. $193,000.evenue for the year amounted to R4 500 000 and represents net sales to third parties of goods purchased for resale. Rainbow Limited maintained a 40% gross profit percentage throughout the year. How much would be the cost of sales for Rainbow Limited? Select one: a. R7 500 000 b. R11 250 000 c. R2 700 000 d. R1 800 000
- The statement of cost of production may be presented with: Statement 1: The beginning and ending work in progress showing the breakdown of direct materials, direct labour and factory overhead Statement 2: The beginning and ending work in progress showing the breakdown of the cost of production according to prime cost and factory overhead Statement 1 and Statement 2 Statement 1 and Statement 2 are incorrect5. If sales revenues are P400,000, cost of goods sold is P310,000, and operating expenses are P60,000 the gross profit is: a. P90,000O b. P340,000 c. P400,000 d. P30,000Safety Company had $45,000 in gross sales, $1,200 in sales discounts, $10,000 in cost of goods sold, $5,500 in selling expenses, $600 in sales returns and allowances, and $7,200 in general expenses. What is Safety Company net sales? a.$35,000 b.$43,200 c.$20,500 d.$33,200
- 3. Refer to the following table: What is the gross profit? Sales revenue $460,000 Cost of goods sold 300,000 Sales discounts 20,000 Sales returns and allowances 15,000 Operating expenses 85,000 Interest revenue 5,000 O$125,000 O$105,000 O$140,000 O$90,000Brown Glory Corp. has sales revenue of $150,000, sales discounts of $12,000, sales returns allowances of $24,000, and cost of goods sold of $60,000. What would be the net sales revenue of Brown Glory Corp.?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