Fortune Brands Home & Security, Inc. sells Master Lock padlocks. It reported an increase in net sales from $4.5 billion in 2011 to $4.8 billion in 2012 and an increase in gross profit from $1.3 billion in 2011 to $1.5 billion in 2012. Calculate each year's gross profit percentage.
Q: Tutor please Give the solution
A: Explanation of Absorption Costing: Absorption costing is a costing method that includes both…
Q: i need this question answer Financial accounting question
A: Step 1: DefinitionUnder absorption costing, fixed manufacturing overhead is assigned to each unit…
Q: Please give me correct answer this financial accounting question
A: Step 1: Define Gain or Loss on Sale of EquipmentWhen a company sells an asset, it must determine…
Q: What was the net income for the year?
A: Explanation of Net Income: Net income represents the company's total earnings or profit calculated…
Q: What is the capital gain yield? General accounting
A: The capital gains yield can be calculated using the dividend discount model (DDM) for a stock with…
Q: Financial accounting question
A: Step 1: Define Average Collection Period (ACP) measures the average number of days a company takes…
Q: What is the number of days sales in receivable?
A: Explanation of Days' Sales in Receivables:The Days' Sales in Receivables is a financial metric that…
Q: general account answer
A: Step 1: Definition of Accounts Receivable Turnover RatioThe accounts receivable turnover ratio…
Q: General Accounting problem
A: Concept of High-Low MethodThe high-low method is a cost estimation technique used to separate…
Q: Solve this financial accounting problem
A: Step 1: Use the DuPont formulaStep 2: Insert valuesStep 3: Convert Profit Margin to decimalStep 4:…
Q: financial accountiong
A: Step 1:Calculation of Book Value per Share Since the Market Price per Share and Market-to-Book Ratio…
Q: Expense 397000, dividends 48200 income for the year?
A: Explanation of Net Income: Net income represents the total profit a company earns after deducting…
Q: Calculate the dividend payout ratio for this financial accounting question
A: Step 1: Define Dividend Payout RatioThe Dividend Payout Ratio is a financial metric that shows the…
Q: Ans?? General Accounting question
A: The straight-line depreciation method allocates an equal amount of depreciation expense each year…
Q: Determine the depreciation
A: Step 1: Calculation of Depreciation per hourPurchase cost = $195,600Residual value = $9,500Useful…
Q: Hurwitz, LLC sells a parcel of waterfront land and a residential condo building with an adjusted tax…
A: Step 1: Understanding the Gross Profit Percentage FormulaThe Gross Profit Percentage (GP%) is…
Q: Sub: financial accounting
A: Explanation of Return on Equity (ROE): This is a key financial metric that measures how efficiently…
Q: Please help me this question
A: Step 1: Definition of Net IncomeNet income is the company's total profit after deducting all…
Q: provide c0rrect answer general accounting
A: Step 1: Definition of Under- or Over-Applied Manufacturing OverheadUnder- or over-applied overhead…
Q: Abc
A: To determine the predetermined overhead rate as a percentage of direct labor costs, we use the…
Q: Accounts receivable:42000, sales discount:2400
A: Explanation of Net Sales Revenue:Net sales revenue is the actual revenue a company earns after…
Q: FILL ALL CELLS PLEASE HELP
A: Step 1:First, calculate the discount on the bond payable: Discount on bond payable = Face value -…
Q: CUMULATIVE COMPREHENSION PROBLEM: ECHO SYSTEMS (This comprehensive problem was introduced in Chapter…
A: The first step in this process is to record the transactions in the journal. This involves debiting…
Q: Financial Accounting
A: To calculate the required return of CSB Tech, Inc. using the Capital Asset Pricing Model (CAPM), we…
Q: hi expert given answer General accounting question
A: Step 1: Contribution margin Contribution margin = Sales - Variable costsContribution margin =…
Q: Need answer the general accounting question
A: Step 1: Define Average Collection PeriodThe Average Collection Period measures the average number of…
Q: The gross profit for Dodge company is
A: Calculation of Cost of Goods SoldCost of Goods Sold = Net Purchases + Beginning Inventory - Ending…
Q: If a business has revenue of $677,000, cost of goods sold of $214,000, operating expenses of…
A: To calculate the net income, use the following formula:Net Income=Revenue−Cost of Goods…
Q: I need help with this question is accounting
A: Step 1: Define Gross MarginThe gross margin indicates the financial performance of any business and…
Q: Expert of general accounting answer
A: Step 1: Determine the estimated direct labor hours engaged in performing the job by dividing the…
Q: Tina's groos profit percentage is
A: Concept of Net PurchasesNet Purchases refer to the total cost of goods a business acquires for…
Q: What is the firm's equity on these financial accounting question?
A: To calculate the firm's equity, we use the basic accounting equation: Equity = Total Assets - Total…
Q: How much does the item cost before tax on these financial accounting question?
A: To determine the before-tax cost of the expense item, we use the tax savings formula: Tax Savings =…
Q: General Accounting Question
A: Step 1: Define Receivables Turnover RatioThe receivables turnover ratio is a financial metric that…
Q: financial accounting
A: To calculate the total dollar amount you cleared on this investment, we need to consider both the…
Q: Give me Answer
A: Concept of Quick RatioThe Quick Ratio is a financial metric that measures a company's ability to…
Q: How much total overhead was applied during the year?
A: Explanation of Overhead Costs: Overhead costs are indirect expenses that cannot be directly traced…
Q: The Bubba Company uses the gross profit method to estimate inventory and cost of goods sold for…
A: Step 1: Understanding the Gross Profit MethodThe gross profit method estimates ending inventory…
Q: Please solve this question general Accounting
A: Step 1: Define Annualized Rate of ReturnThe annualized rate of return is the average yearly return…
Q: Calculate the predetermined overhead rate?
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is calculated…
Q: Budget to purchase in February?
A: Explanation of Materials Purchases Budget:The materials purchases budget is a financial plan that…
Q: Variable manufacturing cost per unit
A: Part 1: Compute the variable manufacturing cost per unit by adding the direct material, direct…
Q: Actule fixed overhead cost 23850, output of the month totaled 6400
A: Explanation of Fixed Manufacturing Overhead Budget Variance:Fixed manufacturing overhead budget…
Q: please given general accounting
A: To determine the capital gains rate, we use the total return formula for a stock: Total Return =…
Q: General accounting question
A: To determine the annual interest rate (yield to maturity, YTM) of the zero-coupon bond, we use the…
Q: can you please solve this financial accounting
A: Step 1: Definition of Days Sales Outstanding (DSO)Days Sales Outstanding (DSO) measures how long, on…
Q: How many units were completed during the period on these general accounting question?
A: Step 1: Define Units CompletedUnits Completed refers to the total number of units that have…
Q: During a specific period, Nexus Technologies reported a decrease in total assets of $14,500 and an…
A: Explanation of Assets: Assets are the economic resources owned by a business that provide future…
Q: Financial accounting
A: Step 1: Analysis of information givenPresent Value of zero-coupon bond = $4,000Future Value of…
Q: Actule overhead cost 630000, labour hours 55000
A: Explanation of Predetermined Overhead Rate (POHR): The predetermined overhead rate is a calculation…
Gross profit percentage? general account
Step by step
Solved in 2 steps
- refer following dataA consumer products company reported a 25 percent increase in sales from 2009 to 2010. Sales in 2009 were $200,000. In 2010, the company reported Cost of Goods Sold in the amount of $150,000.What was the gross profit percentage in 2010?In its year-end financial statements, Pillar Inc. reported the following (in millions): 2016 2015 Sales $38,152 $46,541 Cost of goods sold $28,309 $33,211 As a percentage of sales, did Pillar's gross profit increase or decrease during the year? Select one: a. Gross profit decreased from 28.6% to 25.8% b. Gross profit increased from 71.4% to 74.2% c. Gross profit decreased from 74.2% to 71.4% d. There is not enough information to answer the question. e. Gross profit increased from 25.8% to 28.6%
- A consumer products company reported a 20 percent increase in sales from last year to this year. Sales last year were $220,000. This year, the company reported Cost of Goods Sold in the amount of $157,872. What was the gross profit percentage this year? Numerator Denominator Gross Profit PercentageMbi inc. had sales of $900 million for fiscal 2019. Solve this questionCalculate gross profit, cost of goods sold, and selling price MBI, Inc., had sales of $600 million for fiscal 2016. The company’s gross profit ratio for that year was 31.2%.Required:a. Calculate the gross profit and cost of goods sold for MBI, Inc., for fiscal 2016.b. Assume that a new product is developed and that it will cost $1,634 to manufacture. Calculate the selling price that must be set for this new product if its gross profit ratio is to be the same as the average achieved for all products for fiscal 2016.c. From a management viewpoint, what would you do with this information?
- Refer to the following mentioned data. Net sales Cost of products sold Gross margin (In millions) 2017 2016 $34,954 $30, 040 14,274 13, 395 $20, 680 $16, 645 2017 2016 2015 Required: a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) 2015 $26, 091 13, 655 $12, 436 59.16 % 55.41 % 47.66 %Find out solution to this questionRefer to the following mentioned data. (In millions) 2015 $26,512 13,307 2017 2016 $34,736 14,970 Net sales $30,142 Cost of products sold 13,615 Gross margin $19,766 $16,527 $13, 205 Required: a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) 2017 2016 2015 b. Assume that Campbell's net sales for the first four months of 2018 totaled $12.15 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2017. (Round intermediate calculations to 2 decimal places. Enter your answers in millions rounded to nearest whole number (i.e.., 5,000,000 should be entered as 5).) Cost of goods sold million Gross profit million