The answer is 41200
Gross Margin = Operating Income + Administration and selling expenditure = 10300 + 30900 = 41200
answer is 41200
Knowles & Foreman Company took the following data from its income statement at the end of...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales Cost of goods sold Gross profit Selling expenses Administrative expenses $541,200 456,000 585,200 $440,000 380,000 $23,730 $60,000 $21,000 18,000 $39,000 21,780 Total operating expenses $45,510 539,690 15,900 Income before income tax Income tax expenses $21,000 8,400 Net income $23,790 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $512,000 $400,000 Cost of goods sold 428,400 340,000 Gross profit $83,600 $60,000 Selling expenses $24,780 $21,000 Administrative expenses 22,680 18,000 Total operating expenses $47,460 $39,000 Income before income tax $36,140 $21,000 Income tax expenses 14,500 8,400 Net income $21,640 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
17-05 Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $488,400 $370,000 Cost of goods sold 403,000 310,000 Gross profit $85,400 $60,000 Selling expenses $25,620 $21,000 Administrative expenses 23,400 18,000 Total operating expenses $49,020 $39,000 Income before income tax $36,380 $21,000 Income tax expenses 14,600 8,400 Net income $21,780 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $460,800 375,000 $360,000 300,000 Cost of goods sold Gross profit $85,800 $60,000 Selling expenses $24,780 $21,000 Administrative expenses 22,680 18,000 Total operating expenses $47,460 $39,000 Income before income tax $21,000 $38,340 15,300 Income tax expenses 8,400 Net income $23,040 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Whitman Company has just completed its first year of operations.
The company’s absorption costing income statement for the year
appears below:
Whitman Company
Income Statement
Sales (42,000 units
× $41.10 per unit)
$
1,726,200
Cost of goods sold
(42,000 units × $21 per unit)
882,000
Gross margin
844,200
Selling and
administrative expenses
525,000
Net operating
income
$
319,200
The company’s selling and administrative expenses consist of
$315,000 per year in fixed expenses and $5 per unit sold in...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $932,400 $740,000 Cost of goods sold 787,200 640,000 Gross profit $145,200 $100,000 Selling expenses $41,760 $36,000 Administrative expenses 37,200 30,000 Total operating expenses $78,960 $66,000 Income before income tax $66,240 $34,000 Income tax expenses 26,500 13,600 Net income $39,740 $20,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the year appears below: Whitman Company Income Statement Sales (39,000 units * $42.10 per unit) Cost of goods sold (39,000 units * $22 per unit) $1,641,900 858,000 Gross margin Selling and administrative expenses 783,900 448,500 Net operating income $335,400 The company's selling and administrative expenses consist of $292,500 per year in fixed expenses and $4 per unit sold in variable expenses. The $22...
Horizontal Analysis of the Income Statement Income statement
data for Winthrop Company for two recent years ended December 31,
are as follows: Current Year Sales Cost of goods sold Gross profit
$665,600 567,000 Previous Year $520,000 450,000 $98,600 $70,000
Selling expenses$29,500 Administrative expenses 26,460 $25,000
21,000 $ 46,000 Total operating expenses$55,960 Income before
income tax$42,640 $ 24,000 Income tax expenses 17,1009,600 Net
income$ 25,540$ 14,400
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $496,100 $410,000 Cost of goods sold 401,200 340,000 Gross profit $94,900 $70,000 Selling expenses $26,640 $24,000 Administrative expenses 23,800 20,000 Total operating expenses $50,440 $44,000 Income before income tax $44,460 $26,000 Income tax expenses 17,800 10,400 Net income $26,660 $15,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $624,000 $480,000 Cost of goods sold 512,000 400,000 Gross profit $112,000 $80,000 Selling expenses $33,600 $28,000 Administrative expenses 30,720 24,000 Total operating expenses $64,320 $52,000 Income before income tax $47,680 $28,000 Income tax expenses 19,100 11,200 Net income $28,580 $16,800 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...