A company reported an increase in net sales from $5.2 billion in 2020 to $5.8 billion in 2021, and an increase in gross profit from $1.6 billion in 2020 to $1.9 billion in 2021. Calculate each year's profit percentage.
Q: Please given solution
A: To find the Return on Assets (ROA), we use the formula: ROA=(Net Income/AverageTotal…
Q: MOH Cost: Top Dog Company has a budget with sales of 7,500 units and $3,400,000. Variable costs are…
A: To calculate the budgeted manufacturing cost per unit, we need to determine the total manufacturing…
Q: A business has a profit margin of 18% on total sales of $50,000,000. The firm holds total debt of…
A: To determine the firm's Return on Assets (ROA), we use the formula: ROA=(Net Income/Total…
Q: What is the cost of goods available for sale?
A: Beginning Inventory: 120 units × $48/unit = $5,760Purchases: 200 units × $48/unit = $9,600…
Q: ?? Financial accounting question
A: Step 1: Define Gross ProfitGross Profit is the profit a company earns from its core business…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Debt-Equity RatioThe debt-equity ratio is a financial metric that compares a…
Q: Orion Manufacturing is purchasing a new laser cutting machine for its production facility. The…
A: Summary Answer:The incremental free cash flow (FCF) in Year 2 is $2,611,400. ✅ Key…
Q: What is the overhead rate? Accounting
A: Step 1: Definition of Predetermined Overhead RatePredetermined Overhead Rate: This rate is…
Q: What is the gross profit for the year?
A: Step 1: Definition of Gross ProfitGross profit represents the difference between total revenue…
Q: Ans? Financial accounting
A: Step 1: Define Gross Profit PercentageThe Gross Profit Percentage measures the profitability of a…
Q: Orion Textiles Ltd. needs to estimate its total overhead costs for the next fiscal year. The actual…
A: Step 1: Definition of the High-Low MethodThe high-low method is used to estimate the variable cost…
Q: 1: An employer in Delaware City, DE, employs two individuals, whose taxable earnings to date (prior…
A: Below the through each case carefully and recalculate the correct FUTA and SUTA taxes. Here's the…
Q: Find out net income
A: Step 1: DefinitionsExplanation of Net Income:Net income, also known as profit, is the total earnings…
Q: Sunset Software has experienced high demand for its cloud-based services. The company expects its…
A: The estimated Market Price Per Share (MPS) for Sunset Software is $47.50, calculated using the…
Q: Sunrise Manufacturing has a Textile Division with the following financial details: • Sales: $320,000…
A: Step 1: Definition of Residual Income (RI)Residual Income (RI) is a financial performance measure…
Q: What is the variable cost per unit?
A: Explanation of Mixed Costs: Mixed costs contain both fixed and variable elements, creating a cost…
Q: I need correct solution general accounting question
A: Step 1: Define FIFO (First-In, First-Out) MethodThe FIFO (First-In, First-Out) inventory method…
Q: Provide correct answer this general accounting question
A: Step 1: Definition of Applied OverheadApplied Overhead is the amount of manufacturing overhead…
Q: The trial balance of Summit Industries included the following account balances on December 31, 2021:…
A: Step 1: Definition of Current LiabilitiesCurrent liabilities are obligations a company expects to…
Q: Subject: general accounting
A: Step 1: Define Activity-Based Costing (ABC)Activity-Based Costing (ABC) is a costing method that…
Q: How much overhead should be applied?
A: Explanation of Activity Base: An activity base is a measure of production volume or activity that…
Q: Need help with this accounting questions
A: Step 1: Definition of Applied OverheadApplied Overhead is the estimated overhead assigned to a…
Q: ans
A: To calculate the break-even point in bags, we'll use the following formula:Break-Even Point (BEP) =…
Q: Cara TrustBank’s financial records include a beginning cash balance of $128,000. During the period,…
A: Step 1: DefinitionsConcept of Bank ReconciliationBank reconciliation is the process of matching a…
Q: A wealthy investor is considering purchasing a perpetual annuity that pays $1.8 million per year…
A: The present value (PV) of a perpetual annuity is calculated using the formula: PV=rC where:C =…
Q: How much is the predetermined overhead rate
A: Concept of Manufacturing Overhead:Manufacturing overhead refers to all indirect costs incurred…
Q: 1.Charlotte Metals' operating activities for the year are listed below: Operating revenues $30.*…
A: Question - 11: Cost of Goods Sold (COGS) for Charlotte MetalsThe Cost of Goods Sold (COGS) is…
Q: Beckett Corporation provided the following financial data: • Earnings before interest and taxes…
A: Find Total AssetsWe are given the following financial data for Beckett Corporation:Earnings Before…
Q: What is the net income of this financial accounting question?
A: Step 1: Define Net IncomeNet Income is the profit a company earns after all expenses have been…
Q: Total fixed costs?
A: Step 1: DefinitionsHigh-Low Method: The high-low method is a cost estimation technique used to…
Q: What are the day's sales in receivables of these financial accounting question?
A: Step 1: Define Days' Sales in Receivables:Days' Sales in Receivables, also known as Average…
Q: Step by step solution
A:
Q: Choice
A: Step 1: Definition of Profit MarginThe profit margin is a financial metric that measures the…
Q: A company has current assets with a book value of $50 million, which could be sold for $52 million.…
A: Given Data:Current Assets:Book Value = $50 millionMarket Value = $52 millionFixed Assets:Book Value…
Q: General accounting
A: Step 1: Define Average Collection PeriodThe Average Collection Period (or Days' Sales in…
Q: A manufacturer produces 5,000 circuit boards. The costs incurred are: • Materials: $7,500 • Labor:…
A: Ans:
Q: WW Office Solution simplemented a new supply requisition system. Departments must submit requests by…
A: So, the compliance rate is 68.2%.
Q: Financial accounting
A: Step 1: Define Direct Labor Price VarianceThe Direct Labor Price Variance measures the difference…
Q: No AI
A: Concept of Loan PrincipalLoan principal refers to the original amount of money borrowed or loaned…
Q: Assuming no safety stock, what is the re-order point (R) given an average daily demand of 65 units,…
A: The ordering point (R) is 520 units. When the inventory level decreases to 520 units, a fresh order…
Q: Provide correct option
A: To calculate the debt-to-equity ratio, we'll use the following formula:Debt-to-Equity Ratio = Total…
Q: In Morgan Industries, each unit of finished goods requires 1.5 pounds of direct materials at $3 per…
A: Explanation of Materials Price Variance:Materials Price Variance (MPV) measures the difference…
Q: ???!
A: Explanation of Earnings Before Interest and Taxes (EBIT):Earnings Before Interest and Taxes (EBIT)…
Q: DURING THE CURRENT YEAR, MERCHANDISE IS SOLD FOR $450,000 CASH AND $1,350,000 ON ACCOUNT. THE COST…
A: Step 1: Definition of Gross ProfitGross profit is the revenue remaining after deducting the cost of…
Q: Compute the production cost per unit
A: Explanation of Absorption Costing: Absorption costing is a method of product costing that allocates…
Q: Give me solution this question general accounting
A: Step 1: Definition of Quick RatioQuick Ratio: The quick ratio, also known as the acid-test ratio,…
Q: The UPS Manufacturing Company has a predetermined overhead rate of $10, comprised of a variable…
A: Calculation of Applied OverheadApplied Overhead = Standard Hours Allowed × Predetermined Overhead…
Q: Account
A: Summary of Answers:(a) The firm's ROE is 19.2%.(b) If the equity multiplier increases to 2.8, the…
Q: Last year, BrightTech Inc. reported earnings per share (EPS) of $5.50, and its stock price was…
A: Given:Last year's EPS = $5.50Last year's stock price = $110.00Earnings increased by 15%The P/E ratio…
Q: Need correct solutions.. can you please help me? (general account)
A: Step 1: Definition of Direct Materials Cost StandardThe Direct Materials Cost Standard represents…
Step by step
Solved in 2 steps with 1 images
- What is the gross profit percentage for each year?Calculate each year's profit percentage?In fiscal year 2021, Walmart Inc. (WMT) reported annual revenue of $572.75 billion, gross profit of $143.75 billion, and net income of $13.67 billion. Costco Wholesale Corporation (COST) had revenue of $195.9 billion, gross profit of $25.25 billion, and net income of $5.01 billion. a. Compare the gross margins for Walmart and Costco. b. Compare the net profit margins for Walmart and Costco. c. Which firm was more profitable in 2021?
- A company has the following items for the fiscal year 2020: Revenue = 10 million EBIT = 4 million Net income = 2 million Total Equity = 15 million Total Assets = 30 million Calculate the company’s net profit margin, asset turnover, equity multiplier and ROEGeneral accountingPlease given answer this question
- General accountingFor the year ended DecemberUsing data available in the case, calculate the annual growth rate from 2020 to 2021 (in percentages). All calculations should be rounded to two decimals (e.g., 12.77%). > Answer is complete but not entirely correct. 2021 2020 2020-2021 Revenue 2,057,622 1,736,432 18.50 % Cost of Goods Sold 1,259,830 921,980 36.64 % Gross Profit 797,792 814,452 (1.02) % Operating Expenses 789,795 570,245 38.50 % Operating Income 7,997 244,207 2,953.73% Net Income 14,553 191,960 (92.42) %
- Margin and net incomeFor the year ended December 31, 2019, Settles Inc. earned an ROI of 9.9%. Sales for the year were $17 million, and the average asset turnover was 3.3. Average stockholders' equity was $2.3 million. Required: a. Calculate Settles Inc.'s margin and net income. b. Calculate Settles Inc.'s return on equity.What was the firm's profit margin in 2019 ?