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4) Crystal, Inc. is a merchandiser of stone ornaments. The company sold 8,000 units during the...
Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 8,000 units during the...
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
Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 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
Bloomington, Inc. is a merchandiser of stone ormaments. The company sold 7,500 units during the year....
Bloomington, Inc. is a merchandiser of stone ormaments. The company sold 7,500 units during the year. The company has provided the following information: Sales Revenue Purchases (excluding freight in) S600,000 03,000 67,000 13,000 45,000 3,000 Freight In Beginning Merchandise Inventory Ending Merchandise Inventony What is the cost of goods sold for the year? O A. $305,000 OB. S314.000 C. $318.000 D. $361,000
Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13,000...
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...
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...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
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...
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 oues es es Amount 11,000 17 2 1 $ 20,000 $ 13,000 $ 8,000 $ 23,000 $ 90,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional...
Cherokee Inc. is a merchandiser that provided the following information Number of units sold Selling price...
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 10,000 S 15.00 $ 200 $ 1.50 $ 21,000 $ 16,000 $ 9,000 $ 24,000 $ 85,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC. Traditional Income Statement Sales Beginning merchandise inventory Gross margin Selling...
Cherokee Inc. is a merchandiser that provided the following information: Amount 11,000 Number of units sold...
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...
fill in Cherokee Inc. is a merchandiser that provided the following information: Number of units sold...
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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 $ 1 $ 3 $ 19,000 $ 15,000 $ 10,000 $ 23,000 $ 88,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this...
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
Bloomington, Inc. is a merchandiser of stone ormaments. The company sold 7,500 units during the year. The company has provided the following information: Sales Revenue Purchases (excluding freight in) S600,000 03,000 67,000 13,000 45,000 3,000 Freight In Beginning Merchandise Inventory Ending Merchandise Inventony What is the cost of goods sold for the year? O A. $305,000 OB. S314.000 C. $318.000 D. $361,000
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 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...
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 oues es es Amount 11,000 17 2 1 $ 20,000 $ 13,000 $ 8,000 $ 23,000 $ 90,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional...
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 10,000 S 15.00 $ 200 $ 1.50 $ 21,000 $ 16,000 $ 9,000 $ 24,000 $ 85,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC. Traditional Income Statement Sales Beginning merchandise inventory Gross margin Selling...
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...
fill in
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 $ 1 $ 3 $ 19,000 $ 15,000 $ 10,000 $ 23,000 $ 88,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this...
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