Homework Answers
| Marigold Corp. | Swifty Corporation | |
| Sales revenue | $74,000 | $87,400 (3,400+84,000) |
| Sales returns and allowances | 6,000 ($74,000-68,000) | 3,400 |
| Net sales | 68,000 | 84,000 |
| Cost of goods sold | 51,000 | 57,120 (84,000-26,880) |
| Gross profit | 17,000 (68,000-51,000) | 26,880 |
| Operating expenses | 10,880 | 18,480 (26,880-8,400) |
| Net income | $6,120 | $8,400 |
Profit margin ratio = Net income / Net sales *100
| Marigold Corp. | Swifty Corporation | |
| Profit margin ratio | $6,120/68,000*100 | $8,400/84,000*100 |
| = 9% | = 10% |
Gross margin rate = Gross profit / Net sales *100
| Marigold Corp. | Swifty Corporation | |
| Gross margin rate | $17,000/68,000*100 | $26,880/84,000*100 |
| = 25% | = 32% |
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Financial information for two companies are presented below....
Financial information for two companies are presented below. Fill in the missing amounts. Monty Corp. Whispering...
Financial information for two companies are presented below. Fill in the missing amounts. Monty Corp. Whispering Winds Corp. Sales revenue $90,000 $ Sales returns and allowances 5,000 Net sales 84,000 106,000 Cost of goods sold 53,760 Gross profit 40,280 Operating expenses 15,120 Net income 21,200 eTextbook and Media Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.) Monty Corp. Whispering Winds Corp. Profit margin Gross profit rate
Financial information for two companies are presented below. Fill in the missing amounts. Wildhorse Company Sandhill...
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Current Attempt in Progress Financial information for two companies are presented below. Fill in the missing amounts. W...
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can you answer all of the pages please! In its income statement for the year ended...
can you answer all of the pages
please!
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Exercise 5-08 a-b Financial information for two companies are presented below. Fill in the missing amounts....
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Current Attempt in Progress Financial information for two companies are presented below. Fill in the missing amounts. Wildhorse Co. Sheffield Corp. Sales revenue $102,000 $ Sales returns and allowances 6.200 Net sales 96,000 118,000 Cost of goods sold 65.280 Gross profit 40,120 Operating expenses 16,320 Net income 20,060 e Textbook and Media Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.) Wildhorse Co. Sheffield Corp. Profit margin Gross profit...
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Exercise 5-08 c (Essay) Financial information for two companies are presented below. Yoste Company Noone Company $90,000 $105,000 Sales revenue Sales returns and allowances 6,000 5,000 100,000 84,000 Net sales 58,000 60,000 Cost of goods sold 26,000 40,000 Gross profit 14,380 23,000 Operating expenses 11,620 17,000 Net income Yoste Company Noone Company Profit margin 14% 17% 40% Gross profit rate 31% (c) Discuss your findings in the calculation of profit margin and the gross profit rate for each company Click...
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Exercise 5-08 a-b Financial information for two companies are presented below. Fill in the missing amounts. Windsor, Inc. Sheridan Company $82,000 Sales revenue Sales returns and allowances 4,200 Net sales 92,000 76,000 52,440 Cost of goods sold Gross profit 33,120 Operating expenses 13,680 Net income 12,880 Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, e.g. 15%.) Windsor, Inc. Sheridan Company Profit margin % Gross profit rate Click if you would...
can you answer all of the pages
please!
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