In stable industries, such as retailers, the gross profit is generally volatile from year to year?
Homework Answers
Ans is False
Reason:-
Since the industry is stable, therefore, sales will also be more or less experience the same rate of growth. Hence, gross profit will not be volatile.
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In
stable industries, such as retailers, the gross profit is generally
volatile from year to year?
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What can be learned from a statement of cash flows? Question 18 options: how cash has been generated during a year or a quarter, and how it has been used. net changes in comprehensive income for the year Firms ability to generate cash flows in the future none of the above Which of the following statements is true? Question 21 options: Fixed costs do not vary proportionately with volume changes but remain the same within a relevant range of activity....
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Which of the following statements about gross profit percentages is correct? Because gross profit percentages are so variable across industries, they are most useful in comparing companies from different industries. Because gross profit percentages are so consistent from period to period, they are not very useful for analyzing one company over time. Because gross profit percentages are so variable across industries, they are more useful in analyzing one company over time. Because gross profit percentages are so consistent across industries,...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering two alternative budget plans to increase its gross profit in 2017. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2016 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 102,000 units. At the end of 2016, Sheffield...
Hill Industries had sales in 2019 of $6,800,000 and gross profit of $1,100,000. Management is considering two alternativ...
Hill Industries had sales in 2019 of $6,800,000 and gross profit
of $1,100,000. Management is considering two alternative budget
plans to increase its gross profit in 2020.
Plan A would increase the selling price per unit from $8.00 to
$8.40. Sales volume would decrease by 10% from its 2019 level. Plan
B would decrease the selling price per unit by $0.50. The marketing
department expects that the sales volume would increase by 100,000
units.
At the end of 2019, Hill...
Which of the following statements regarding gross profit percentage is not correct? The gross profit percentage...
Which of the following statements regarding gross profit percentage is not correct? The gross profit percentage measures the percentage of profit earned on each dollar of sales. O A decreasing gross profit percentage means that the company is selling products for a greater markup over its cost. O Gross profit percentages vary across industries It is possible for a company to increase both its gross profit percentage and net income without increasing the dollar amount of sales Garcia Company is...
Blossom Industries had sales in 2019 of $7,280,000 and gross profit of $1,149,000. Management is considering...
Blossom Industries had sales in 2019 of $7,280,000 and gross
profit of $1,149,000. Management is considering two alternative
budget plans to increase its gross profit in 2020.
Plan A would increase the selling price per unit from $8.00 to
$8.40. Sales volume would decrease by 10% from its 2019 level. Plan
B would decrease the selling price per unit by $0.50. The marketing
department expects that the sales volume would increase by 112,000
units.
At the end of 2019, Blossom...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering two alte...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering two alternative budget plans to increase its gross profit in 2017. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2016 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 102,000 units. At the end of 2016, Sheffield...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering...
Sheffield Industries had sales in 2016 of $6,880,000 and gross
profit of $1,106,000. Management is considering two alternative
budget plans to increase its gross profit in 2017.
Plan A would increase the selling price per unit from $8.00 to
$8.40. Sales volume would decrease by 10% from its 2016 level. Plan
B would decrease the selling price per unit by $0.50. The marketing
department expects that the sales volume would increase by 102,000
units.
At the end of 2016, Sheffield...
Calculate Net sales, Gross profits from sales and gross profit margin and profit and loss and...
Calculate Net sales, Gross profits from sales and gross profit margin and profit and loss and Terms are: Sales Sales Discounts (5 %) $16,000 S $105,000 560 $418,000 Net sales Cost of goods sold Gross profit from sales 4,00 31,00 -320.00 215,00 -8.000-64.000 Gross profit margin ratio Gross profit/ Sales) x 100 Operating expenses ?9.000 . 31.000 -22.00? -261,000 106.000 rofit (loss) Quick Study 5-2
1) Gross profit is defined in the book as the difference between total revenue and total...
1) Gross profit is defined in the book as the difference between total revenue and total cost of goods sold. It is said that the big component separating gross profit from net profit is overhead costs. Does this mean that net profit is total revenue minus TCOGS and all overhead costs? 2) Noncurrent assets are considered long term assets (held for more than one fiscal year) and generally, they cannot be liquidated quickly. However, I didn't quite understand what would...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering two alternative budget plans to increase its gross profit in 2017. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2016 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 102,000 units. At the end of 2016, Sheffield...
Hill Industries had sales in 2019 of $6,800,000 and gross profit
of $1,100,000. Management is considering two alternative budget
plans to increase its gross profit in 2020.
Plan A would increase the selling price per unit from $8.00 to
$8.40. Sales volume would decrease by 10% from its 2019 level. Plan
B would decrease the selling price per unit by $0.50. The marketing
department expects that the sales volume would increase by 100,000
units.
At the end of 2019, Hill...
Which of the following statements regarding gross profit percentage is not correct? The gross profit percentage measures the percentage of profit earned on each dollar of sales. O A decreasing gross profit percentage means that the company is selling products for a greater markup over its cost. O Gross profit percentages vary across industries It is possible for a company to increase both its gross profit percentage and net income without increasing the dollar amount of sales Garcia Company is...
Blossom Industries had sales in 2019 of $7,280,000 and gross
profit of $1,149,000. Management is considering two alternative
budget plans to increase its gross profit in 2020.
Plan A would increase the selling price per unit from $8.00 to
$8.40. Sales volume would decrease by 10% from its 2019 level. Plan
B would decrease the selling price per unit by $0.50. The marketing
department expects that the sales volume would increase by 112,000
units.
At the end of 2019, Blossom...
Sheffield Industries had sales in 2016 of $6,880,000 and gross profit of $1,106,000. Management is considering two alternative budget plans to increase its gross profit in 2017. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2016 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 102,000 units. At the end of 2016, Sheffield...
Sheffield Industries had sales in 2016 of $6,880,000 and gross
profit of $1,106,000. Management is considering two alternative
budget plans to increase its gross profit in 2017.
Plan A would increase the selling price per unit from $8.00 to
$8.40. Sales volume would decrease by 10% from its 2016 level. Plan
B would decrease the selling price per unit by $0.50. The marketing
department expects that the sales volume would increase by 102,000
units.
At the end of 2016, Sheffield...
Calculate Net sales, Gross profits from sales and gross profit margin and profit and loss and Terms are: Sales Sales Discounts (5 %) $16,000 S $105,000 560 $418,000 Net sales Cost of goods sold Gross profit from sales 4,00 31,00 -320.00 215,00 -8.000-64.000 Gross profit margin ratio Gross profit/ Sales) x 100 Operating expenses ?9.000 . 31.000 -22.00? -261,000 106.000 rofit (loss) Quick Study 5-2
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