For last year, Watson Limited reported revenues of
$ 430 comma 000$430,000,
cost of goods sold of
$ 120 comma 000$120,000,
cost of goods manufactured of
$ 95 comma 000$95,000,
and total operating costs of
$ 60 comma 000$60,000.
Operating income for that year was ________.
Sales Revenue | 430,000 |
Less: Cost of Good sold | 120,000 |
Gross MArgin | 310,000 |
Less: Operating Cost | 60,000 |
Operating income | 250,000 |
Operating income For the Year = $250,000
For last year, Watson Limited reported revenues of $ 430 comma 000$430,000, cost of goods sold...
For last year, Watson Limited reported revenues of $420,000, cost of goods sold of $118,000, cost of goods manufactured of $105,000, and total operating costs of $60,000. Operating income for that year was ________. A) $315,000 B) $302,000 C) $255,000 D) $242,000
evaluating profitability Last year, Stevens Inc. had sales of $401 comma 000 , with a cost of goods sold of $111 comma 000 . The firm's operating expenses were $ 131 comma 000 , and its increase in retained earnings was $58 comma 000 . There are currently 22 comma 500 common stock shares outstanding and the firm pays a $1.57 dividend per share. a. Assuming the firm's earnings are taxed at 34 percent, construct the firm's income statement. b....
A company reported revenues of $378,000, cost of goods sold of $127,000, selling expenses of $9,000, and total operating costs of $77,000. Gross margin for the year is O A. $242,000 B. $251,000 C. $165,000 D. $292,000
The revenues, cost of goods sold, store support costs, activities that account for the store support costs, 2 and activity area usage of the three product lines are as follows: 3 4 Baked Goods Milk and Fruit Juice Frozen Products 6 $60,000 $41,000 $12,300 $66,500 $51,000 $15,300 $50,500 $32,000 $9,600 5 Financial data Revenues 7 Cost of goods sold 8 Store support 9 Activity area usage (cost-allocation base) 10 Ordering (purchase orders) 11 Delivery (deliveries) 12 Shelf-stocking (hours) Customer support...
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3) Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): $ 212,000 $ 264,000 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 156,000 $ 370,000 $ 357,000 Inventory balances at the beginning and end of the year were...
Lurvey Men's Clothing's revenues and cost data for 2017 are as follows: LOADING...(Click the icon to view the data.) Mr. Lurvey, the owner of the store, is unhappy with the operating results. An analysis of other operating costs reveals that it includes $ 25 comma 000 variable costs, which vary with sales volume, and $ 5 comma 000 (fixed) costs Revenue 500,000 cost of goods sold 250,000 gross margin 250,000 operating cost salaries fixed 130,000 sales commissions (10% of sales)...
Edison Co. reported the following for the current year: Net sales Cost of goods sold Net income Beginning balance of total assets Ending balance of total assets $84,000 $60,000 $20,160 $60,000 $74,400 Compute (a) profit margin and (b) return on total assets. Complete this question by entering your answers in the tabs below. Profit Margin Ratio Return On Total Assets Compute the profit margin ratio. Profit Margin Ratio 1 Choose Denominator: Choose Numerator: Profit Margin Ratio Profit margin ratio %...
prepare schedules of cost of goods manufactured and cost of goods sold and an income statement Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): 217.000 266,000 Selling expenses Purchases of raw materials Direet labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost 157.000 365.000 $ 354.000 Inventory balances at the beginning and end of the year were as follows: Ray Baterials...
Which of the following is true of cost of goods sold? a. It is an expense that appears on the income statement. b. It includes all selling and administrative expenses. c. It represents the total conversion cost of the goods manufactured. d. The balance in this account is transferred to finished goods inventory. The ending inventories of materials, work-in-process, and finished goods appear: a. as non-operating expenses on the income statement. b. as current assets on the balance sheet. C....
Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): $ 212,000 $ 265,000 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 155,000 $ 370,000 $ 351,000 Inventory balances at the beginning and end of the year were...