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.Wages$198,500Electricity and gas 15,300Telephone1,790Rent of premises41,090Office expenses17,030The electricity and gas charges include a discount of 10% of the total for buyingboth from the same supplier. The charge for electricity is $5,700 before discount.Calculate the amount charged for gas before discount.

Detailed explanation:100% gross amount - 10% discount = 90% net of discount$ 15300 of electricity…

Answered: A company's total sales in a year were…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

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 is available for a company's cost of sales over the last five months. MonthUnits soldCost of salesJanuary560$28,600February740$34,000March1,300$46,000April2,560$58,000 Using the high-low method, the estimated total fixed cost is:
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.
.The following information has been provided by the Rose Toiletries. Co Ltd. for the Second quarter of the year: Cost of goods sold $ 80,000 Fixed administrative expenses 19,000 Fixed selling expenses 10,000 Sales 200,000 Variable administrative expenses 5,000 Variable selling expense 12,000 1. What was the company’s Net operating Income for the first quarter?
A company has provided the following details for a month: Estimated Sales Units 16,500 Variable Selling and Administrative Expense per Unit $4.00 Fixed Selling and Administrative Expenses $95,000 Depreciation Expense included in Fixed Selling and Administrative Expense $27,000 How much is expected cash disbursements for selling and administrative expenses?
1
ameson Company provided the following information for the coming year: make income statement Units produced and sold 230,000 Cost of goods sold per unit $5.30 Selling price $9.70 Variable selling and administrative expenses per unit $1.60 Fixed selling and administrative expenses $387,000 Tax rate 35%
Oriole Manufacturing Ltd. had sales for January 2022 of $1,025,000. The units sold were 20,500, and the expenses for January 2022 were as follows: Variable Fixed Cost of goods sold $209,100 $123,000 Selling expenses 63,550 31,775 Administrative expenses 27,675 32,800 Prepare a detailed CVP income statement for the month ended January 31, 2022. (Round per unit cost to 2 decimal places, e.g. 15.25.)
A company has sales of Gh1,000.The company sells three types of goods . Sixty percent of sales are of types A which is sold at a mark-up of 20%. Type B goods are sold at a margin of 30%.The cost of this B sold in the year was Gh 154 and total gross profit for the year was Gh 184. What wast the cost of sales for type C?
Silver Crafts, Inc. purchases and sells bracelets. The following information summarizes the company's operating activities for the year: Selling and Administrative Expenses $4,800 Purchases 158,000 Sales Revenue 790,000 Merchandise Inventory, January 1 2,300 Merchandise Inventory, December 31 38,550 If the company sold 7,400 bracelets during the year, how much is the unit cost for one bracelet? (Round your answer to the nearest cent.)
Whipple Company has sales revenue of $585,000. Cost of goods sold before adjustment is $335,000. The company uses machine hours to allocate manufacturing overhead and estimated 10,450 machine hours would be used during the year. For the year, manufacturing overhead was under-allocated by $13,400. The company's actual manufacturing overhead is $91,000. What is the actual gross profit? Select one: a. $250,000 b. $159,000 c. $236,600 d. $104,400 e. $263,400
*The units of production and sold are 25,000 units. Question: If Pacific Ocean Sdn. Bhd. wishes to earn a profit after tax of RM45,000 at 24% tax rate, how many units of products should be produced and sold in value? (Round up to nearest whole number)

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