Bloomington, Inc. is a merchandiser of stone ormaments. The company sold 7,500 units during the year....
Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold units during the year. The company has provided the following information: 7,500 Sales Revenue $561,000 Purchases (excluding Freight In) 304,000 Selling and Administrative Expenses 68,000 Freight In 15,000 Beginning Merchandise Inventory 43,000 Ending Merchandise Inventory 42,000 What is the operating income for the year? (Round your answer to the nearest whole dollar.) A. $173,000 B. $241,000 C. $493,000 D. $320,000
4) Crystal, Inc. is a merchandiser of stone ornaments. The company sold 8,000 units during the year. The company has provided the following information Sales Revenue Purchases (excluding Freight In Selling and Administrative Expenses68 $593,000 68,000 14,00 46,000 Freight In Beginning Merchandise Inventory Ending Merchandise Inventory
Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 8,000 units during the year. The company has provided the following information: Sales Revenue Purchases (excluding Freight In) Selling and Administrative Expenses Freight In Beginning Merchandise Inventory Ending Merchandise Inventory $593,000 304,000 68,000 14,000 46,000 42,000 What is the operating income for the year? (Round your answer to the nearest whole dollar.) O A. $271,000 OB. $525,000 OC. $203,000 OD. $322,000
Cherokee Inc. is a merchandiser that provided the following information: Amount 11,000 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 18,000 $ 13,000 $ 10,000 $ 24,000 $ 85,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs...
Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13,000 Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 15 $ 19,000 $ 14,000 8,000 $ 23,000 $ 87,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser that provided the following information : Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 12,000 17 2 $ 2 $ 20,000 $ 13,000 $ 10,000 $ 23,000 $ 89,000 Required : 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 10,000 Selling price per unit $ 17.00 Variable selling expense per unit $ 1.00 Variable administrative expense per unit $ 1.50 Total fixed selling expense $ 19,000 Total fixed administrative expense $ 13,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 24,000 Merchandise purchases $ 86,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 12,000 16 2 $ 2 $ 18,000 $ 13,000 $ 8,000 $ 25,000 $ 88,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 13,000 $ 16 $ 1 $ 1 $20,000 $14,000 $10,000 $23,000 $ 88,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 13,000 S 17.00 2.00 $1.00 $19,000 $ 16,000 S 8,000 $ 25,000 $88,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses...