Cameron's Clothing Corner had sales of $620,000 and the cost of goods sold of $215,400. What is the gross profit margin?
Q: Correct Answer
A: Explanation of Forensic Accounting:Forensic accounting is a specialized area of accounting that…
Q: Please help with accounting question
A: Let's calculate the amount Cullumber Company should pay for the investment to earn a 12%…
Q: SUB. General ACCOUNT
A: 2. Calculate the Future Value of the $4,500 deposit:Years of Growth: The $4,500 deposit grows for 5…
Q: Lalit Lumber Company has sales of $13 million per year, all on credit terms calling for payment…
A: DSO (Days Sales Outstanding) measures the average number of days it takes for a company to collect…
Q: Silverline Properties has a debt-equity ratio of 0.92. Return on assets is 8.4 percent, and total…
A: To calculate the net income for Silverline Properties, we can use the following steps: Calculate…
Q: None
A: To calculate CoffeeCarts' Weighted Average Cost of Capital (WACC), use the formula:WACC = (E/V) * Re…
Q: What were the company's average days to collect receivables?
A: Step 1: Definition of Average Days to Collect ReceivablesThe average days to collect receivables,…
Q: Ans plz general accounting
A: Step 1: Definition of Cost-Volume-Profit (CVP) AnalysisCost-Volume-Profit (CVP) analysis helps…
Q: What is the dollar amount of total assets on these general accounting question?
A: Step 1:As per the accounting equation, total assets are equal to the sum of total liabilities and…
Q: On April 1, the cash account balance was $37,690. During April, cash receipts totaled $459,690 and…
A: Concept of Beginning Cash BalanceThe Beginning Cash Balance refers to the amount of cash a business…
Q: How much is the gross profit margin??
A: Step 1:First calculate the gross profit: Gross profit = Net sales - Cost of goods sold…
Q: Please solve this question
A: Step 1: Define Ending inventoryThe ending inventory is the value of goods available in the business…
Q: Calculate the gross profit?
A: Step 1: Gross Profit can be calculated by subtracting the Cost of goods Sold from the Net Sales.…
Q: I need this question answer general Accounting question
A: To calculate the amount of interest Sarah will include in her gross income, we need to determine…
Q: Green Grow Incorporated (GGI) manufactures lawn fertilizer. Because of the product’s very high…
A: 2. Relevant Costs for Special OrderFor the special order of 7,400 bags:Variable manufacturing cost…
Q: Need correct solution in this general account questions.
A: Step 1:Gross profit is calculated by subtracting the cost of sales from the sales. Step 2:An item…
Q: Abc
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is a rate used to…
Q: Venture Ltd. used 8,500 machine hours (Driver) on Job # 23. Total machine hours are 25,000. Assume…
A: Step 1: Introduction to factory overheadFactory overheads are defined as indirect costs that are not…
Q: # General Account
A: 1. Understand the Capital Asset Pricing Model (CAPM)CAPM is a financial model that describes the…
Q: Need correct answer general Accounting question
A: Step 1: Define Cost Of CapitalCompanies must ensure that the investment's profits outweigh the cost…
Q: How much is the direct materials price variance?
A: Step 1: Definition of Direct Materials Price VarianceThe Direct Materials Price Variance measures…
Q: Kostelnik Corporation uses a job-order costing system with a single plantwide predetermined overhead…
A: Step 1:The amount of overhead applied to Job A496 can be calculated by first calculating the single…
Q: What is the fund's required rate of return on these financial accounting question?
A: Given:- Market's required rate of return = 14%- Risk-free rate = 6%In this case, the fund's required…
Q: Accounting 25
A: Concept of Accounts ReceivableAccounts receivable refer to the amount of money that a company is…
Q: Step by step answer
A: Explanation of Net Income:Net income is the amount a company earns after deducting all expenses,…
Q: Do fast this question answer general Accounting
A: To determine the cash paid to employees, we use the following formula:Cash Paid = Salaries and Wages…
Q: Following are selected income statement data from Apple and Dell: Income Statement Apple ($) Dell…
A: Step 1: Understanding the FormulaThe Gross Profit Percentage (also called Gross Margin Percentage)…
Q: Answer this Question
A: Concept of AssetsAssets are resources owned by a business that have economic value and can generate…
Q: A fixture company manufactures products brass products in a small manufacturing facility that has 40…
A: Step 1: Understand the FormulaThe formula for Direct Materials Price Variance is: Direct Materials…
Q: Hello teacher please help me this question solution
A: Step 1: Define Direct Labor VariancesDirect Labor Variances can be due to differences in the prices…
Q: NO WRONG ANSWER
A: Explanation: In the given case, we are required to calculate the amount of contribution margin from…
Q: General Account
A: Step 1: Definition of Direct Material Quantity VarianceDirect Material Quantity Variance measures…
Q: Correct answer
A: Step 1:First Calculate the standard and actual price and quantity Standard Quantity Allowed =…
Q: General accounting
A: To calculate the monthly payments on the car lease, we need to break down the lease into two…
Q: What is the company's cost of equity on these financial accounting question?
A: To calculate the company's cost of equity, we use the Capital Asset Pricing Model (CAPM)…
Q: Accurate Answer
A: To calculate the change in total liabilities, we can use the basic accounting equation: Assets =…
Q: Problem related to Accounting
A: Step 1: Calculation of net incomeNet income = Sales × Profit margin ratioNet income = $96 million ×…
Q: provide correct answer general accounting
A: Step 1: Define Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL) measures the…
Q: Provide correct answer general accounting
A: To compute MH's recognized gain on the sale of the installment note in 2011, let's break this down…
Q: Ans plz
A: Step 1: Definition of High-Low MethodThe high-low method is a cost estimation technique used to…
Q: Hii ticher please given correct answer general accounting question
A: Step 1: Define Net IncomeNet Income, also known as Net Profit or Bottom Line, represents a company's…
Q: The standard materials cost of a product is $40 per unit, based on 10 pounds of raw materials at a…
A: a) The standard cost for materials for JanuaryThe standard cost per unit of product is given as $40,…
Q: Assume your organization has the following inventory changes during the year: Beginning Inventory 15…
A: Explanation: Value of ending inventory and value of inventory used under FIFO method:Under First-In,…
Q: Company's gross profit percentage?
A: Step 1: Define Gross Profit MarginThe gross profit margin is the ratio of a company's gross profit…
Q: Financial Accounting
A: To calculate the effective interest rate, we use the formula: Effective Interest Rate = (Interest…
Q: Given the correct answer is accounting
A: Step 1: Analysis of information givenFactory overhead is already included in the total manufacturing…
Q: ANSWER THIS MCQ
A: Explanation of Annual Subscription Fees: Annual subscription fees represent the total amount a…
Q: Need help
A: Explanation: Following data is given:Current liabilities = $565,000; Quick ratio = 0.93; Current…
Q: Find out
A: Concept of Off-Market SwapsOff-market swaps refer to derivative contracts where the agreed-upon…
Q: Correct Answer
A: Step 1: Analysis of information givenAssets = Liabilities + Owner's EquityAssets = $895,000Owner's…
What is the gross profit margin?
Step by step
Solved in 2 steps
- Candy Company had sales is $320,000 and cost of goods sold of $112,000. What is the gross profit margin (ratio of gross profit of sales)?Swank Clothiers had sales of $383,000 and cost of goods sold of $260,000. What is the gross profit margin (ratio of gross profit to sales)? b. If the average firm in the clothing industry had a gross profit of 25 percent? how is the firm doing? SOLVE BOTH QUESTIONSWhat is your cost of goods sold?
- Suppose Austin Sound had sales of $450,000 and sales returns of $55,000. Cost of goods sold was $176,000. How much gross profit did Austin Sound report?What is the gross marginThe income statement for Gilmore Uniforms shows gross profit of $143,000, operating expenses of $130,000, and cost of goods sold of $219,000. What is the amount of net salesrevenue?a. $362,000b. $492,000c. $273,000d. $349,000