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Echo Textiles reported total sales of $3,280,000 for the year. The cost of goods sold was $2,210,000. Below are the overheads paid during the year. Calculate the net profit. Wages $265,400 Electricity and gas $21,600 Telephone $2,100 Rent of premises $51,200 Office expenses $22,300

Echo Textiles reported total sales of $3,280,000 for the year. The cost of goods sold was $2,210,000. Below are the overheads paid during the year. Calculate the net profit. Wages $265,400 Electricity and gas $21,600 Telephone $2,100 Rent of premises $51,200 Office expenses $22,300

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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Calculate the net profit

Echo Textiles reported total sales of $3,280,000 for the year. The cost of goods sold was $2,210,000. Below are the overheads paid during the year. Calculate the net profit. Wages $265,400 Electricity and gas $21,600 Telephone $2,100 Rent of premises $51,200 Office expenses $22,300
Transcribed Image Text:Echo Textiles reported total sales of $3,280,000 for the year. The cost of goods sold was $2,210,000. Below are the overheads paid during the year. Calculate the net profit. Wages $265,400 Electricity and gas $21,600 Telephone $2,100 Rent of premises $51,200 Office expenses $22,300
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