ACE Manufacturing has net sales of $90,000, cost of goods sold of $65,000, and operating expenses of $15,000. The gross profitmargin (rounded) is28%.25%.10%.O 11%.

Income statement is a financial statement that shows profitability, total revenue and total expenses…

Answered: ACE Manufacturing has net sales of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

See similar textbooks

Similar questions

During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of $9,350,000 and average capital assets of $13,500,000. What is the sales margin?
During the current year, Plainfield Manufacturing earned income of $845,000 from total sales of $9,350,000 and average capital assets of $13,500,000. Using the sales margin from the previous exercise, what is the total ROI for the company during the current year?
The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit percentage is 70%. 30%. 15%. 100%.
A company has total sales of $500,000 and a cost of goods sold (COGS) of $300,000. What is the company's gross profit margin? a) 20% b) 30% c) 40% d) 60%
Calculation
A company sells one product and its contribution margin ratio is 10%. The company provides the following data regarding their operation: Current sales revenue $3,540,000 $3,681,600 Expected sales revenue next year Expected increase in net operating income next year 12% Q. What is the net operating income for the current year? ANS. $
Kingsbury Manufacturing has net sales revenue of $940,000, cost of goods sold of $346,400, and all other expenses of $329,200. The net profit margin is: Multiple Choice 0.76 0.72 0.63 0.28
A retail company TGT has sales of $1,120,000 and total costs of $955,000, including depreciation and interest expenses. The average tax rate is 27%. Total assets are valued at $70,000 and total equity at $44,000. What comes closest to the profit margin? 11% 18% 15% 8% DOO
East Mullett Manufacturing earned operating income last year as shown in the following income statement: Sales $531,250 Cost of goods sold 280,000 Gross margin $251,250 Selling and administrative expense 195,300 Operating income $55,950 Less: Income taxes (@ 40%) 22,380 Net income $33,570 At the beginning of the year, the value of operating assets was $390,000. At the end of the year, the value of operating assets was $460,000. Required: For East Mullett Manufacturing, calculate the following: 1. Average operating assets 2. Margin (round to two decimal places) % 3. Turnover (round to two decimal places) 4. Return on investment (round to one decimal place) %
Fields Company presented the following data for the current year: Net sales revenue $275,000 Cost of goods sold 125,000 Operating expenses 40,000 Income tax rate 25% Determine the company's profit margin (rounded) A Select one: O O a. 33% b. 31% C. 28% d. 30%
Sales for a firm are $510,000, cost of goods sold are $395,000, and interest expenses are $15,000. What is the gross profit margin? O 22.5% O 20.5% 19.6% O 18.9%

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

ACE Manufacturing has net sales of $90,000, cost of goods sold of $65,000, and operating expenses of $15,000. The gross profit margin (rounded) is O 28%. O 25%. O 10%. O 11%.