The following information pertains to Mason Company for Year 2. Beginning inventory Units purchased 120 units e $32 366 units @ $48 Ending inventory consisted of 44 units. Mason sold 442 units at $96 each. All purchases and sales were made with cash. Operating expenses amounted to $3,450. Required a. Compute the gross margin for Mason Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 3 decimal places and final answers to the nearest whole dollar amount.) Gross Margin FIFO LIFO Weighted average

The following percentages apply to Rooney Company for Year 3 and Year 4: Sales Cost of goods sold Gross margin Selling and administrative expense Interest expense Total expenses Income before taxes Income tax expense Net income ROONEY COMPANY Income Statements Sales Cost of goods sold Gross margin Selling and administrative expenses Interest expense Total expenses Income before taxes Income tax expense Net income Required Assuming that sales were $505,000 in Year 3 and $600,000 in Year 4, prepare income statements for the two years. Year 4 100.0 % 61.1 38.9 26.2 2.4 Year 4 28.6 10.3 5.3 5.0 % Year 3 100.0 % 64.1 35.9 20.5 1.9 22.4 13.5 7.0 6.5 % Year 3

A company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit margin of 25%. Sales revenue amounted P7,500,000. The general and administrative, and selling expenses are P1,125,000. Determine the amount of cost of goods sold. * G

Calculate the gross and net profits (in $) and the two profit margins (as %s) for the given company. (Round profit margins to the nearest tenth of a percent.) Company Net Sales Cost ofGoods Sold GrossProfit OperatingExpenses Net Profit Gross ProfitMargin (%) Net ProfitMargin (%) an optometry store $327,735 $201,655 $  $83,921 $   %  %

Monty Corp. reported net sales $610,000, cost of goods sold $366,000, operating expenses $151,000, and net income S70,150. Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g.

TASK THREЕ: Income Statement for the year ended 31 December 2020 Edward Frankie Company Company $ Sales 100,000 80,000 Less: Cost of goods sold 60,000 50,000 Gross Profit 40,000 30,000 Less: Expenses 36.000 18,000 Net Profit 4.000 12,000 1. Calculate the gross profit ratio, net profit ratio and expense to sales ratio for each of the company respectively. 2. Comment the profitability of the two companies.

A comparative income statement follows for Martine Ltd. of Montreal:   MARTINE LTD. Comparative Income Statement For the Years Ended October 31, Year 1 and Year 2   Year 2 Year 1 Sales $ 8,050,000   $ 6,050,000   Less: Cost of goods sold   5,095,650     3,605,800   Gross margin   2,954,350     2,444,200   Less: Operating expenses:             Selling expenses   1,529,500     1,131,350   Administrative expenses   756,700     726,000   Total expenses   2,286,200     1,857,350   Net operating income   668,150     586,850   Less: Interest expense   136,850     114,950   Net income before taxes $ 531,300   $ 471,900       Members of the company's board of directors are surprised to see that net income increased by only $59,400 when sales increased by $2,000,000.   Required: 1. Express each year’s income statement in common-size percentages. (Round your answers to 1 decimal place.)

What are the following amounts for the year ended 2/1/20:   Net Sales _________ Cost of Goods Sold ____________ Gross Margin ____________ Gross Margin Percentage ____________ Operating Income ____________ Net Income ____________