A company has sales of $695,000 and cost of goods sold of $278,000. Its gross profit equals: Multiple Choice $(417,000). $695,000. $278,000.
Q: How is the gross profit percentagecomputed? Illustrate its calculation and interpretationassuming…
A:
Q: The following information is given for Miller Company: Operating Expenses $ 90,000 Sales Returns and…
A: Formula: Net sales = Sales revenue - Sales returns and allowances - Sales discounts. Deduction of…
Q: During the current year merchandise is sold for 45,870,000. The cost of the merchandise sold is…
A: Gross Profit is one of the components of the profit and loss statement of your business. It is the…
Q: Determining cost of goods soldFor a recent year, Best Buy (BBY) reported sales of $39,528 million.…
A: The gross profit is calculated by deducting the cost of goods sold from the sales revenue.
Q: During the current year, the merchandise is sold for 45,870, 000. The cost of the merchandise sold…
A: Introduction: Gross profit: Deduction of cost of goods sold value from the sales value derives the…
Q: Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit…
A: Gross profit margin helps in assessing how much the company has after paying all the costs which are…
Q: A company’s net sales are $675,000, its cost of goods sold is $459,000, and its net income is…
A: Answer: a.32%
Q: American Importers reports net income of $50,000 and sales revenue of S625,000. If the company's…
A: Cost of Goods Sold - Cost of Goods Sold is the cost incurred by the company for the sale. It…
Q: A company’s net sales were $221,100, its cost of goods sold was $75,800, and its gross profit was…
A: Given: Net sales = $221,100 Cost of goods sold = $75,800 Gross profit = $145,300
Q: Cushman Company had $816,000 in net sales, $357,000 in gross profit, and $204,000 in operating…
A: Cost of Goods Sold = Sales - Gross Profit
Q: RJ Garcia Sound had sales of P600,000 and sales returns of P80,000. Cost of goods sold was P320,000…
A: Gross profit is an excess of revenue over the cost of goods sold. It indicates the profit before…
Q: Sales revenues are RO 400,000, cost of goods sold is RO 310,000, and operating expenses are RO…
A: Gross profit = Sales revenue - Cost of goods sold Net profit = Gross profit - Operating expenses
Q: Cushman Company had $834,000 in net sales, $364,875 in gross profit, and $208,500 in operating…
A: Gross profit = Net Sales - Cost of goods sold Cost of goods sold = Net sales - Gross profit
Q: Dr. Zhivàgo Diagnostics Corp.'s income statement for 20X1 is as follows: Sales $…
A: The profit margin is a calculation of the profitability of a firm, which explains the percentage of…
Q: What is the amount of gross profit?
A: Given information is: During the current year, the merchandise is sold for 45,870, 000. The cost of…
Q: The Lubao Company reported the following information for the year 2009: Gross profit -P560,000;…
A: The total sales is calculated as cost of goods sold and gross profit
Q: Cushman Company had $824,000 in sales, sales discounts of $12,360, sales returns and allowances of…
A: Calculation of gross profit are as follows:
Q: Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit…
A: Gross Profit ratio = [(Sales - Cost of goods sold)/Sales]
Q: A company has $550,000 in net sales and $193,000 in gross profit. This means its cost of goods sold…
A:
Q: A firm has cost of goods sold of $6,570, gross profit of $5,860, and operating expenses of $3,210.…
A: Total operating expenses include the cost of goods sold and other operating expenses such as…
Q: If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit…
A: Gross Profit: Gross Profit is the difference between the net sales, and the cost of goods sold.…
Q: Calculate gross profit, cost of goods sold, and selling price MBI, Inc., hai sales of $250 million…
A: Gross profit = Sales x Gross profit ratio Cost of goods sold = Sales - Gross profit
Q: A company has sales of $729,000 and cost of goods sold of $292,000. Its gross profit equals:
A: Sales - Cost of goods sold = Gross profit
Q: A compeny's net sales were S676,600, its cost of goods sold was $236,810 and its net income was…
A: Gross margin in the business is sales revenue which is over and above it's, cost of goods sold.…
Q: The Lakandula Company's Cost of Goods Manufactured was P240,000. Its total sales amounted to…
A: The cost of goods sold can be calculated to estimate the beginning finished goods inventory
Q: Using the information below, calculate gross profit for the period. Sales $1,264,000 Selling…
A: Gross profit :— Gross profit is the profit of a business makes after subtracting all the costs that…
Q: Given the following for a company: sales $48,000, sales returns and allowances $6.000, operating…
A:
Q: Determining Cost of Goods Sold For a recent year, TechMart reported sales of $44,476 million. Its…
A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…
Q: For Mortenson Company, the following information is available: Cost of goods sold P 60,000; Sales…
A: Income statement of a company shows its gross profit or gross loss and net profit or net loss.…
Q: Determining Cost of Goods Sold For a recent year, Best Buy (BBY) reported sales of $39,528 million.…
A: COST OF GOODS SOLD IS CALCULATED BY ADDING UP THE VARIOUS DIRECT COSTS REQUIRED TO GENERATE…
Q: A company has sales of Gh1,000.The company sells three types of goods . Sixty percent of sales are…
A: Total sales = Gh 1000 Type A sales = 60%
Q: The following is Cullumber Company’s income statement for the past year. Sales revenue $336,000…
A: Gross margin % = (Gross margin / Sales) x 100 = (201,600/336,000)*100 = 60%
Q: Cushman Company had $842,000 in sales, sales discounts of $12,630, sales returns and allowances of…
A: Gross profit is an excess of revenue over the cost of goods sold. It is the profit before deducting…
Q: Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit…
A: Sales = $320,000 COGS = $112,000 Gross profit = Sales-COGS = 320,000-112000…
Q: The following are information for XYZ Company: • Gross sales - P3,000,000 Items returned by…
A: Transportation cost does not reduce sales becuase these are operating expenses.
Q: Boron Company has sales of $60,000, beginning inventory of $7.000, purchases of $35,000, and ending…
A: Cost of goods sold in the business means total cost of goods that are being sold to the ultimate…
Q: Cupery Co. has sales revenue of $117,000, cost of goods sold of $60,000, and operating expenses of…
A: Gross profit = Sales - Cost of goods sold Net profit = Gross profit - Operating expenses Gross…
Q: Kingsbury Manufacturing has net sales revenue of $800,000, cost of goods sold of $343,600, and all…
A: Sales - Cost of goods sold = Gross profit Gross profit - other expeses = Net profit
Q: If net sales are $800,000 and cost of sales is $600,000, the gross profit ratio is 25%. (True or…
A: Gross Profit Ratio = (Gross Profit / Net Sales) *100
Q: Net margin is 30% of the gross sales of 150,000. With Cost of Goods Sold amounting to 50,000, what…
A: Net margin = 30% Gross sales = 150000 COGS = 50000
Q: Safety Company had $45,000 in gross sales, $1,200 in sales discounts, $10,000 in cost of goods sold,…
A: NET SALES : = GROSS SALES + TRANSPORTATION COST - SALES DISCOUNT - SALES RETURN AND ALLOWANCES
Q: Brad Gravel Pitt Company has sales of $495,000 and cost of goods sold of $302,000. Selling and…
A: Gross profit is the excess of sales over the cost of goods sold. It shows the profit earned by the…
Q: Our company is a manufacturer and has the following data available for the current year: sales,…
A: Cost of goods sold = Beginning finished goods inventory + cost of goods manufactured - Ending…
Q: Garza Company had sales of $153,000, sales discounts of $2,300, and sales returns of $3,670. Garza…
A: Net sales = Total sales - Sales return - Sales discount
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- If cost of goods sold is $520,000 and the gross profit rate is 20%, what is the gross profit? Select one: a. $2,600,000. b. $130,000. c. $ 520,000. d. $416,000.Brad Gravel Pitt Company has sales of $495,000 and cost of goods sold of $302,000. Selling and administrative costs are $100,000. Taxes are $40,000. a. What is the Choose.. gross profit?A company has $550,000 in net sales and $193,000 in gross profit. This means its cost of goods sold equals a. $743,000. c. $357,000. e. $(193,000). b. $550,000. d. $193,000.
- A company's net sales are $817,990, its costs of goods sold are $449,895, and its profit is $112,475. Its gross profit margin ratio equals: Multiple Choice 45.0%. 55.0%. 13.75%. 31.25% 25.0%.Cushman Company had $816,000 in net sales, $357,000 in gross profit, and $204,000 in operating expenses. Cost of goods sold equals: Multiple Choice $459,000. $816,000. $357,000. $204,000. $255,000.Cushman Company had $814,000 in sales, sales discounts of $12,210, sales returns and allowances of $18,315, cost of goods sold of $386,650, and $280,015 in operating expenses. Gross profit equals: O Multiple Choice $396,825. O $415,140. $409,035. $783,475. $116,810.
- If Net Sales Revenue is $108,000, Gross profits are $28,000 and Operating expenses are $12,000. What is the Cost of Goods Sold and Net Profit or Loss? 1. COGS $38,000 and Profit $98,000 2. COGS $88,000 and Proft $10,000 3. COGS $80,000 and Proft $16,000 4. COGS $98,000 and Loss $38,000 Which step in the accounting cycle occurs prior to the preparation of the financial statements? 1. Record and post adjustments 2. Analyse transactions 3. Analyse the changes in the accounts 4. Close the accounts Bluefield Limited is considering a project that will require an initial investment of $50 000 and is expected to generate future net cash flows of $10 000 annually for years 1 to 3 and $5000 annually for years 4 to 10. The project's payback period is: 1. 4 years 2. 5 years 3. 6 years 4. 7 yearsA company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit margin of 25%. Sales revenue amounted P7,500,000. The general and administrative, and selling expenses are P1,125,000. Determine the amount of cost of goods sold. * GCushman Company had $824,000 in sales, sales discounts of $12,360, sales returns and allowances of $18,540, cost of goods sold of $391,400, and $283,455 In operating expenses. Net income equals: Multiple Choice O $793,100. O $401,700. O $180,045. $149,145. $118,245.
- If a company has sales revenue of $631000, net sales of $500000, and cost of goods sold of $385000, the gross profit rate is 77%. 61%. 39%. 23%.A company's net sales were $724,200, its cost of goods sold was $244,050 and its net income was $60,000. Its gross margin ratio equals: Multiple Choice 8.3%. ○ о 24.6%. 33.7%. 66.3%. 296.7%.If Swifty Corporation has net sales of $515000 and cost of goods sold of $365000, Swifty gross profit rate is 71%. 41%. 100%. 29%.