A company's total sales in a year were $2,710,000. The cost price of goods sold was $2,040,000. Given below are the overheads paid during the year. Calculate the net profit. Wages $198,500 Electricity and gas 15,300 Telephone 1,790 Rent of premises 41,090 Office expenses 17,030

Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.

During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of $5,500,000 and average capital assets of $12,000,000. A. Based on this information, calculate asset turnover. B. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?

During the year, sales were $300,000. The unadjusted balance of Cost of Goods Sold was $225,000. Overapplied manufacturing overhead was $5,000. What is the gross profit on sales? a. 300,000 b. 80,000 c. 220,000 d. 180,000

The following information relates to the Jasmine Company for the upcoming year: Sales Amount Per Unit Sales $8,120,000 6,496,000 $32.00 Cost of goods sold Gross margin Operating expenses 22.00 1,624,000 10.00 690,000 3.00 Operating profits $ 934,900 $ 7.00 The cost of goods sold includes $2,375,100 of fixed manufacturing overhead; the operating expenses include $223,100 of fixed marketing expenses. A special order offering to buy 56.000 units for $16.20 per unit has been made to Jasmine. Fortunately, there will be no additional operating expenses associated with the order; however, Jasmine is operating at full capacity. How much will operating profits increase if Jasmine accepts the special order? Multiple Choice $280,000. $140,000. $56,000. Operating profits will not increase as a result of accepting the special order.

Revenue and expense data for the current calendar year for Sorenson Electronics Company and for the electronics industry are as follows. Sorenson Electronics Company data are expressed in dollars. The electronics industry averages are expressed in percentages.   SorensonElectronicsCompany   ElectronicsIndustryAverage Sales $2,690,000     100 % Cost of goods sold (1,829,200)     (74)   Gross profit $860,800     26 % Selling expenses $(484,200)     (10) % Administrative expenses (188,300)     (10)   Total operating expenses $(672,500)     (20) % Operating income $188,300     6 % Other revenue and expense:           Other revenue 53,800     4   Other expense (26,900)     (3)   Income before income tax $215,200     7 % Income tax expense (80,700)     (5)   Net income $134,500     2 %

Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages.   TannenhillCompany   ElectronicsIndustryAverage Sales $2,180,000     100 % Cost of goods sold 1,417,000     69   Gross profit $763,000     31 % Selling expenses $457,800     18 % Administrative expenses 174,400     7   Total operating expenses $632,200     25 % Operating income $130,800     6 % Other income 43,600     2     $174,400     8 % Other expense 21,800     1   Income before income tax $152,600     7 % Income tax expense 65,400     5   Net income $87,200     2 % a.  Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Tannenhill Company…

Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. The Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. 1 Tannenhill Company Electronics Industry Average 2 Sales $4,060,000.00 100.0% 3 Cost of goods sold 2,111,200.00 58.0 4 Gross profit $1,948,800.00 42.0% 5 Selling expenses $1,055,600.00 23.0% 6 Administrative expenses 649,600.00 14.0 7 Total operating expenses $1,705,200.00 37.0% 8 Operating income $243,600.00 5.0% 9 Other income 118,000.00 2.9 10 $361,600.00 7.9% 11 Other expense 72,000.00 1.8 12 Income before income tax $289,600.00 6.1% 13 Income tax expense 78,000.00 1.9 14 Net income $211,600.00 4.2% A. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round percentages to one decimal place. Enter all amounts as positive numbers. B. As far as the data permit, comment…

Amaz-a-nation reported the following data for the year just ended: sales revenue, $1,850,000; cost of goods sold, $860,000; cost of goods manufactured, $566,000; and selling and administrative expenses, $183,000. What is Amaz-a-nation's gross margin?

Mauka, Inc. provided the following income statement for last year: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685 Operating income $4,140,050 511,015 $3,629,035 1,461,214 $2,167,821 Required: Calculate the times-interest-earned ratio. Round the answer to one decimal place. times Interest expense Income before taxes Income taxes Net income