Income Statement - Week 2

Question Completion Status: QUESTION 7 Using the following information, calculate the monthly net profit Sales for the month Food costs 73,904 25% of Sales Labor costs 45% of Sales Rent and Insurance $1500/month Supplies $2217/month Other expenses $3791/month OA. $51,733 O B. $22,171 O C. $7508 OD. $14,663 QUESTION 8 Calculate the profit margin from the last problem O A. 17.5% OB. 19.84% OC. 18.29% Click Save and Submit to save and submit. Click Save All Answers to save all answers OD.22.22%

Accounting

DN Hill Enterprises Income Statement For Months Ended January February March Net sales Cost of goods sold Gross Profit 266,895 295,750 305,000 175,895 186,850 193,000 91,000 108,900 112,000 Selling expenses Administrative expenses 45,650 45,950 56,550 37,450 39,750 43,750 Total operating expenses 83,100 85,700 100,300 Income before income taxes 7,900 23,200 11,700 Income tax expense (20%) 1,580 4,640 2,340 Net income 6,320 18,560 9,360 COGS 75% variable / 25% fixed Sell Exp 80% variable / 20% fixed Admin Exp 25% variable / 75% fixed What is your projection for 6/30/24 YTD Net Income?

20.1 A business has compiled the following information for the year ended 31 October 20X2: 38 mins $ 386,200 989,000 422,700 Opening inventory Purchases Closing inventory The gross profit as a percentage of sales is always 40% Based on these figures, what is the sales revenue for the year? $952,500 $1,333,500 $1,587,500 A C $1.524.000

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Problem 5 George Washington Company buys one kind of merchandise at $12 per unit and sells it at $25 per unit. The company's sales representatives receive a 20% commission on each sale. The March Income Statement shows the following information: Sales Cost of goods sold Gross profit George Washington Company Income Statement For Month Ended March 31 Expenses: Sales commissions Advertising Store rent Administrative salaries Depreciation Other Total expenses Net Income $500,000 240,000 $100,000 50,000 5,000 10,000 6,000 12,000 $260,000 $183,000 $ 77.000 The company's management believes that the March results will be repeated during April, May, and June without any changes in strategy. However, some changes are being considered. Management believes that unit sales will increase at a rate of 8% each month during the next quarter (including April) if the item's selling price is reduced to $22.50 per unit and if advertising expenses are increased by 40% and remain at that level for all…

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Multiple-Step Income Statement The following information is available for Bergin Pastry Shop for the year ended December 31. Gross margin $34,600 Income from operations 9,200 Income taxes expense (14% of income before taxes) ? Interest expense 1,800 Net sales 85,800 Required: Prepare a multiple-step income statement for Bergin for the year ended December 31.

GENERAL ACCOUNT

The following data are for​ Jessee's Candy Store for​ January: question 19 ss attached thanks

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Ron Company has the following commission schedule: Commission rate 2% 3.5% 4% Calculate the gross earning. Employee Sales Up to $80,000 Excess of $80,000 to $100,000 More than $100,000 Bill Moore Total sales Gross earning $ 141,000

Ron Company has the following commission schedule:     Commission rate   Sales   2 %   Up to $80,000     3.5 %   Excess of $80,000 to $100,000     4 %   More than $100,000     Calculate the gross earning. Employee Total Sales Gross Earnings Lauren Cleaves $ 143,000

Ron Company has the following commission schedule: Commission rate Sales 2% Up to $80, 000 Excess of $80,000 to $100,000 More than $100,000 3.5% 4% Calculate the gross earning. Employee Total sales Gross earning Lai Xiaodong %24 146,000 < Prev 6 of 16 Next ..... .....n .....