Distinguish between gross profit as a percentage of cost and gross profit as a percentage of sales price. Convert the following gross profit percentages based on cost to gross profit percentages based on sales price: 25% and 33⅓%. Convert the following gross profit percentages based on sales price to gross profit percentages based on cost: 33⅓% and 60%.

Q: How is the gross profit percentagecomputed? Illustrate its calculation and interpretationassuming…

A:

Q: A company has sales of $378,600 and its gross profit is $159,100. Its cost of goods sold equals

A: Cost of Goods Sold means cost incurred by the company to sell the goods to customers. The cost which…

Q: When the gross profit percentage of costs is 32%, the gross profit percentage of sales is equal to:…

A: Gross profit % is calculated by the formula such as :- Gross profit % = Gross profit /revenue.

Q: Calculate the gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and…

A: Sales = OMR 20000 Cost of goods sold = OMR 8000 Return inwards = OMR 6000 Net sales = Sales-Return…

Q: Each of the following gross profit percentages is expressed in terms of cost. 1. 22%. 2. 28%. 3.…

A: Gross profit on sale = Gross profit rate / ( 100 + Gross ptofit rate ) * 100

Q: Calculate total revenue and fill in the table below. Price Quantity Total Revenue $50 60 $40 90

A: Introduction: Total revenues: Multiplying price with the quantities derives the Total revenues.…

Q: Prepare a multiple-step income statement for the year ended January 31 that begins with gross sales…

A: Gross margin is the amount remaining from sales after taking into consideration direct expenses. Net…

Q: Calculate the missing information based on the format of the income statement. Cost of Gross…

A: Gross Profit = Net sales-Cost of Goods sold

Q: Calculate the missing information based on the format of the income statement. Net sales :…

A: Net Sales are of $4,236,000 Gross margin is of $1,830,000 Net profit of $659,500   To Find: Cost of…

Q: Cost-to-retail ratio under the cost method is calculated: A. After both markups (net) and markdowns…

A: Both markups and markdowns is used to calculate the ratio.

Q: Distinguish between gross profit as a percentage of costand gross profit as a percentage of sales…

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: Calculate the gross and net profits (in $) and the two profit margins (as %s) for the given company.…

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: The following is Cullumber Company’s income statement for the past year. Sales revenue   $336,000…

A: Total cost = Cost of goods sold + Operating expenses = 134,400 + 145,600 = $280,000

Q: Determine the Prior Year and Current Year common-size percents for cost of goods sold using net…

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: the net sales 159 150 ID , beginning finished goods inventory 16 500 ID ,Cost of goods manufactured…

A: The Numerical has covered the concept of Gross Profit The Gross Profit is appeared in the Income…

Q: Calculate the missing information based on the format of the income statement. Net Sales Cost of…

A: Net income: Net income is the revenue of the company after deducting all the expenses and taxes. It…

Q: From the​ following, calculate net​ sales:     -   -   = Net sales   -   -   =     Data Table Cost…

A: Net sales = Gross Sales - Sales return and allowances - Sales discount

Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and…

A: Gross Profit Margin Ratio = (Gross profit/Net sales) *100 where gross profit = Net sales - Cost of…

Q: sing the financial information presented below:             Operating Expenses  $ 55,000…

A: Answer 1) Formula: Gross Profit = Net Sales – Cost of Goods Sold Gross Profit = (Sales – Sales…

Q: Given this information, what is the profit percent?  Format your answer to two decimal places and…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Calculate gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return…

A: Gross profit is the profit a company makes after deducting the costs associated with making and…

Q: Given the following information regarding to a recent period's operations: Sales - P? Beginning…

A: Gross margin is the difference between  sales  and cost of goods sold. Gross margin can be…

Q: Calculate the missing Cost of Goods Sold in this multi-step income statement: Sales Revenue $1,500…

A: Formulas: Gross profit = Sales Revenue - Cost of goods sold Operating income = Gross profit -…

Q: The vertical analysis indicates that the cost of merchandise sold as a percent of sales arcent of…

A: a. Statement of Comparative Income Statement   Current Year Amount Percent Previous Year Amount…

Q: Indicate the effects on gross profit the changes in volume, unit selling price, and unit cost. Write…

A: Selling price and sales volume have a direct relationship with the Gross profit i.e. increase in…

Q: Walmart takes its net sales and subtracts the cost of goods sold during the previous period. The…

A: When the cost is deducted after the production and selling of the product, a profit is obtained…

Q: Using the accounts and amounts below, calculate Gross Profit: Account Amount Sales Revenue $124,357…

A: The formula for calculating gross profit = Revenue - Cost of Goods Sold Revenue = Net revenue. i.e…

Q: Calculate the cost of goods available for sale, ending inventory, and cost of goods sold if Aircard…

A:

Q: Complete the chart using the LIFO and FIFO costing methods, assuming a period of increasing costs:…

A: Answer)    Highest Amount  Lowest Amount Cost of Merchandise Sold  LIFO  FIFO…

Q: First step - you need to understand each individual components of the income statement (also called…

A: Income statement is the one which is prepared to depict the profitability of the company.

Q: compute net sales, gross profit, and the gross profit ratio for each of the four seperate companies.…

A: Definition: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods…

Q: How is average selling period computed ? a) It is equal to Cost of the goods sold / 365 b) It is…

A: Solution:- Calculation of average selling period as follows under:- Introduction:- First we need to…

Q: Using the accounts and amounts below, calculate Income from Operations Account Amount Sales Revenue…

A: Solution: Income from operations = Net Sales - Cost of goods sold - Operating expenses

Q: A mark up of 15% on sales is equivalent to what markup on cost?

A: Suppose Sales = $100 Markup = 15% of Sales Markup = $15   So the Cost will be $85

Q: Use the following selected information from Whitman Corp. to determine the Year 1 and Year 2 trend…

A: GIVEN     Year 2   Year 1   Net sales $ 281,700   $ 232,500   Cost of goods sold   150,800…

Q: The gross profit margin of WALA company is 40%. If the gross profit is ₱332,560.00, how much is the…

A: Gross profit margin =40% Gross profit =P332,560 Therefore, Revenue =Gross profit/gross profit margin…

Q: Required Determine the following (show key computations): a. The present sales volume in dollars. b.…

A: Solution: Break even Point is the point where company is at zero profit i.e., No loss-No profit…

Q: Each of the following gross profit percentages is expressed in terms of cost. 1.    20%. 3.    33⅓%.…

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: Net margin is 30% of the gross sales of 150,000. With Cost of Goods Sold amounting to 50,000, what…

A: Net margin = 30% Gross sales = 150000 COGS = 50000

Q: Calculating Gross Profit Percentage Given Percentage of Cost The following are calculations of gross…

A: Given the following question:

Q: Compute cost of goods sold and gross profit using the FIFO inventory costing method and using the…

A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method of…

Q: Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies.…

A: Gross margin ratio = Gross profit / Net sales where, Net sales = Sales - sales discount - sales…

Q: The following data are available for X Corp: Gross profit is 20% based on cost. Using ABC, compute…

A: Activity-based costing (ABC) is a method of allocation of the overhead costs incurred in the…

Q: Complete the following Common Size Income Statement:…

A: Given information : Particulars Amount Sales  $  14,000.00 Cost of goods sold  $    9,000.00…

Q: 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and…

A: Weighted Average cost method refers to Total Cost of Goods available for sale is divided by it…

Q: The following is Cullumber Company’s income statement for the past year. Sales revenue   $336,000…

A: Markup percentage = (Gross margin / Cost of goods sold) x 100