Gross Profit Variation Analysis and Earnings Per Share Determinalion265II. Multiple ChoiceLaline1.The following gross margin data were taken from the incomestatements of a retailing firm X & Y, Inc. for two periods.Pertod APeriod BSales revenue..P150.000.Cost of sales.Gross margin..100,000P. 50,000P141,75091.000P 50,750If sales volume declined by 10% on Period B. the percentage ofchange in selling price is:10% increase.5% increase..a.b.5.5% increasc.d. 5% decrease.с.Items 2 and 3 are based on the following data:2005P200,000$0,000P 30,0002006Sales.Cost of sales.Gross profit.P208,000-175,500P 32,500Unit selling price decreased by 20% in 2006.The net change in gross profit in 2006 duc to quantity factor is.P60,000 incrcase.b. P15,000 increase.P40,000 decrease.d.2.a.с.P 8,000 increase.The change in gross profit due to the decrease in sclling price is:P 8,000 increase.b. P60,000 decrease.PS2,000 decrease.d. P52,000 increase.3.a.C.

1. The following gross margin data were taken from the income statements of a retailing firm X & Y, Inc. for two periods. Period A Period B Sales revenue.. P141,750 91.000 P 50,750 P150.000 29 Cost of sales.. Gross margin.... 100,000 P 50,000 If sales volume declined by 10% on Period B. the percentage of change in selling price is: 10% increase. b. 5% increase.. c. 5.5% incrcase. d. 5% decreasc. a.

1. The following gross margin data were taken from the income statements of a retailing firm X & Y, Inc. for two periods. Period A Period B Sales revenue.. P141,750 91.000 P 50,750 P150.000 29 Cost of sales.. Gross margin.... 100,000 P 50,000 If sales volume declined by 10% on Period B. the percentage of change in selling price is: 10% increase. b. 5% increase.. c. 5.5% incrcase. d. 5% decreasc. a.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

#becausesneaker.... HW CH 17 Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales Cost of merchandise sold Selling expenses Administrative expenses Income tax expense Custom Order Sales Cost of merchandise sold Selling expenses a. Prepare an income statement in comparative form, statin each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Administrative expenses Income tax expense $483,000 280,140 82,110 86,940 14,490 Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount $483,000 280,140 82,110 86,940 14,490 percentage points, and administrative expenses net income as a percent of sales Current year Percent % % % % % % $420,000 218,400 79,800 71,400 21,000 % % % Previous year Amount $420,000 218,400 79,800 71,400 21,000 Previous year Percent b.…
Complete the comparative income statement and balance sheet for Logic Company. Note: Input all answers as positive values except decrease answers which should be indicated by a minus sign. Round your "percent" answers to the nearest hundredth percent.
b) Calculate mark-up (in percentage to 2 decimal places)c) Calculate the margin as a % to 1 decimal placed) What is the operating profit margin percentage if the selling expense isreduced by 25%? Show this to nearest whole number %e) Define the following and provide respective examples.f) If a company has a mark-up of 27% and sales revenue of £130,597, thenwhat is the cost of sales in whole £’s?g) If a company has a net margin of 50%, gross margin of 66.67% and costs of sale of £1,150,000, then what is the sales revenue and overhead?
please provide correct option
! Required information Use the following information for the Quick Studies below. (Algo) ($ thousands) Net sales Current Year $ 803,470 394,775 Prior Year $ 455,095 135,878 Cost of goods sold QS 17-7 (Algo) Trend percents LO P1 Determine the Prior Year and Current Year trend percents for net sales using the Prior Year as the base year. (Enter the answers in thousands of dollars.) Current Year: Prior Year: Numerator: Trend Percent for Net Sales: 1 1 1 1 Denominator: = = = Trend Percent 0 % 0 %
A 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. * G
Calculate the gross and net profits (in $) and the two profit margins (as %s) for the given company. (Round profit margins to the nearest tenth of a percent.) Company Net Sales Cost ofGoods Sold GrossProfit OperatingExpenses Net Profit Gross ProfitMargin (%) Net ProfitMargin (%) an optometry store $327,735 $201,655 $ $83,921 $ % %
Use the following selected information from Corolla to determine the Year 1 and Year 2 trend percentages for net sales using Year 1 as the base. Year 2 Year 1 Net sales $ 277,700 $ 231,700 Cost of goods sold 151,600 129,890 Operating expenses 54,940 52,940 Net earnings 28,320 20,120 Multiple Choice 116.7% for Year 2 and 100.0% for Year 1. 54.6% for Year 2 and 56.1% for Year 1. 36.2% for Year 2 and 40.8% for Year 1. 65.6% for Year 2 and 64.6% for Year 1. 119.9% for Year 2 and 100.0% for Year 1.
A comparative income statement follows for Martine Ltd. of Montreal: MARTINE LTD. Comparative Income Statement For the Years Ended October 31, Year 1 and Year 2 Year 2 Year 1 Sales $ 8,050,000 $ 6,050,000 Less: Cost of goods sold 5,095,650 3,605,800 Gross margin 2,954,350 2,444,200 Less: Operating expenses: Selling expenses 1,529,500 1,131,350 Administrative expenses 756,700 726,000 Total expenses 2,286,200 1,857,350 Net operating income 668,150 586,850 Less: Interest expense 136,850 114,950 Net income before taxes $ 531,300 $ 471,900 Members of the company's board of directors are surprised to see that net income increased by only $59,400 when sales increased by $2,000,000. Required: 1. Express each year’s income statement in common-size percentages. (Round your answers to 1 decimal place.)
What are the following amounts for the year ended 2/1/20: Net Sales _________ Cost of Goods Sold ____________ Gross Margin ____________ Gross Margin Percentage ____________ Operating Income ____________ Net Income ____________