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: give account solution
A: Step 1: Key InformationBeginning WIP Inventory: 10,000 units, 50% complete as to conversion…
Q: Solve the financial accounting prblm
A: Explanation of Net Income: Net income represents the total earnings of a company after deducting all…
Q: Provide correct answer general Accounting
A: To calculate the balance in the cash account, we subtract the total of the credit entries from the…
Q: Sunrise manufacturing is considering investing solve this general accounting question
A: Step 1: Calculate the annual depreciation expense.Formula: Depreciation Expense = (Cost of Equipment…
Q: Given the following cost and activity
A: Step 1: Define High-Low MethodThe high-low method is the cost-splitting method which is used when…
Q: Mr. Husker's Tuxedos Corp. ended the year 2017 with an average collection period of 35 days. The…
A: Explanation of Average Collection Period:The average collection period measures the average number…
Q: Hi expert please give me answer general accounting question
A: Step 1: Define MarkupThe markup indicates the difference between the selling price and the item's…
Q: I don't need ai answer general accounting question
A: Step 1: Definition of Economic Order Quantity (EOQ)Economic Order Quantity (EOQ) is the order size…
Q: A company's normal selling price for its product is $29 per unit. However, due to market…
A: Explanation of Lower of Cost or Market (LCM) Rule: The LCM rule is an accounting principle used to…
Q: None
A: Step 1: Introduction to retained earningsRetained earnings refers to the accumulated net income…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Average Rate of Return (ARR)The Average Rate of Return (ARR) measures the…
Q: General accounting
A: Step 1: Define Stockholder's EquityThe stockholders' equity represents the net worth of the company…
Q: Need help with this accounting questions
A: Step 1: Define Present Value (PV)Present Value (PV) is the amount of money that must be invested…
Q: Explain the difference between the accrual basis and cash basis of accounting. What are the…
A: The accrual basis and cash basis are two fundamental methods of accounting used to record financial…
Q: Provide answer general Accounting
A: Step 1: Define Average Collection PeriodAn average collection period is the average number of days a…
Q: During the month of November, Luffee Company had cash receipts of $5,100 and paid out $1,300 for…
A: Explanation of Cash Balance:Cash balance represents the total amount of cash and cash equivalents a…
Q: You made a sale for $175,000. The customer paid in cash. Your gross margin is 48%. What is your cost…
A: Concept of Sales Revenue:Sales Revenue is the total amount of money generated from selling goods or…
Q: Calculate the gross profit ratio for 2012?
A: Step 1: Introduction to income statementIncome statement is referred to as the financial statement…
Q: I won't to this question answer general Accounting
A: Given Values:Beginning Inventory = $4,050Purchases = $9,450Ending Inventory = $3,400 Calculation for…
Q: Sagehen Enterprises reports pretax financial income of $80,000 for 2012. The following cause taxable…
A: Step 1: Understand the ProblemPretax Financial Income: $80,000 (financial reporting income before…
Q: Solve this question financial accounting
A: Step 1: Define Share BuybackIn a share repurchase, the firm purchases the shares of its current…
Q: Provide correct answer financial accounting
A: Step 1: Define Product CostsThe first margin determined in the income statement is the gross profit…
Q: Compute a fair rate of return for intel common stock.which has a solve this question
A: As per CAPM, Required stock return = Risk-free rate + Beta*(Market rate-Risk-free rate) Required…
Q: I want to correct answer general accounting
A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…
Q: Need Solution step by step
A: To determine the overhead Daud Company should record, we can use the overhead application rate and…
Q: Need Answer in this account questions.
A: Step 1: Calculate Net Realizable Value (NRV) for Each ItemThe NRV is calculated as:…
Q: If 11 more dinners were sold?
A: Explanation of Variable Cost Per Unit:Variable cost per unit is the total of all costs that change…
Q: I want to correct answer general accounting
A: Step 1:First calculate the assets turnover ratio: Assets turnover ratio = Sales / Total assets…
Q: Need help with this accounting questions
A: Step 1: Definition of Work-in-Process (WIP) InventoryWIP Inventory: The work-in-process inventory…
Q: On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials…
A: Approach to solving the question: Step 1: Calculate Equivalent Units for Direct MaterialsSince all…
Q: Gemini Store has operated with a 30% average gross profit ratio for a number of years. It had…
A: To estimate the ending inventory using the gross profit method, we can follow these steps: Calculate…
Q: Not use ai solution please given answer general Accounting
A: We are tasked with calculating the maturity value of a 60-day, 12% note for $10,000, using a 360-day…
Q: The Ivam Department transferred 6,000 units to the finished goods storeroom for a month. There was…
A: Explanation of Work in Process (WIP): Work in Process represents units that have started production…
Q: - Questions On March 1, 2019, Baltimore Company's beginning work in process inventory had 10,000…
A: Step 1: Key InformationBeginning WIP inventory: 10,000 units (50% complete for conversion…
Q: Job H85 was ordered by a customer on September 25. During the month of September, Jaycee Corporation…
A: Explanation of Direct Materials:These are raw materials that can be directly traced to a specific…
Q: I want correct answer general accounting
A: Step 1: Identify the Sales amount.Step 2: Identify the Cost of Goods Sold (COGS) amount.Step 3:…
Q: I need correct answer general accounting
A: Step 1: Define Gross Profit PercentageThe gross profit percentage is an indicator of profit. The…
Q: Select correct answer for this Question☑
A: The image you sent contains a multiple-choice accounting question. The question asks about the…
Q: Solve this question general Accounting
A: Step 1: Define Holding Period Total Return (HPTR)If an investor holds an asset, mainly investments…
Q: The equipment was sold for $60,000 The equipment was originally purchased for $33,000. At the time…
A: Step 1:First calculate the book value of equipment: Book value = Original cost - Accumulated…
Q: Answer? ? Financial accounting
A: Step 1: Define Net IncomeNet income is defined as the total earnings generated by a business after…
Q: In Tyler LTD, direct materials are $12000, direct labor $15000 and manufacturing overhead is $9000.…
A: Concept of Direct Materials:Direct materials are the raw materials that are directly involved in the…
Q: Parker manufacturing estimated solve this accounting questions
A: Step 1: Definition of Overapplied and Underapplied OverheadOverapplied Overhead: Occurs when the…
Q: The total cost?
A: Explanation of Activity-Based Costing (ABC)Activity-Based Costing (ABC) is a costing method that…
Q: Please provide this question solution general accounting
A: Given:Total Earnings: $825,000Shares Outstanding:$150,000 Calculation for the estimated price per…
Q: Mace auto parts company solve this question general Accounting
A: Step 1: Define Average Collection PeriodThe average collection period refers to the period in which…
Q: On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials…
A: To calculate the cost per equivalent unit of conversion, follow these steps: Step 1: Calculate the…
Q: During its first year of operations, a company granted employees vacation privileges and pension…
A: Explanation of Vacation PayVacation pay is the amount set aside by a company to cover the wages of…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Markup PercentageMarkup percentage refers to the percentage added to the cost…
Q: Solve this Financial accounting question
A: Step 1: Define Ordering costOrdering cost refers to the cost of making an order of goods and…
Accounting question
Step by step
Solved in 2 steps
- Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.Answer thisANSWER PLEASE
- 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%The following information is available to you for the Wooden Company: 2011 2010 Net Income. 53,394 39,510 Net Sales 233,715 182,795 From the information provided, calculate Wooden’s profit margin ratio for each year. Be sure to show your calculations. 2011 2010 Comment on the results, assuming that the industry average for the profit margin ratio is 25% for each of the two years.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 %
- 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 PercentageCalculate Gillian Pool and Spa Supplies’ average annual compound growth rate of sales, and analyze its earnings performance for the past five years.Mbi inc. had sales of $900 million for fiscal 2019. Solve this question
- Find out solution to this questionA. The following items were taken from the financial statements of Salley, Inc. over a three year period: Using the horizontal analysis and 2016 as the base year, compute the change in percentages for net sales, cost of goods sold, gross profit, operating expenses and net income. Explain whether the trends are favorable or unfavorable for each item. Item 2018 Net Sales 825,000 Cost of Goods Sold 630,000 Gross Profit 195,000 Operating Expenses 100,000 Net Income P 95,000 2017 P 740,000 580,000 160,000 80,000 P 80,000 2016 675,000 535,000 140,000 75,000 P 65,000Refer to the following mentioned data. Net sales Cost of products sold Gross margin 2017 2016 2015 Required: a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) (In millions) 2016 2017 2015 $34,894 $30,411 $26,113 14,318 13,376 13,767 $20,576 $17,035 $12,346 Cost of goods sold Gross profit 58.94 % % % b. Assume that Campbell's net sales for the first four months of 2018 totaled $12.79 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 (1.e., 5,000,000 should be entered as 5).) million million
