Answered: Hayward Co. reported net sales revenues…

Hayward Co. reported net sales revenues of $20.0 billion and cost of goods sold of $6.1 billion. Its gross profit percentage was: O 43.6%. O 30.5%. O 11.9%. 0695%

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

See similar textbooks

Related questions

Q: look at the image to help me solve the problem

A: In Double Entry System, the total of assets are always equal to the total of liabilities.

Q: Student ID Day 63638034 Monday 23957096 Thursday 28080825 Monday Exam Score 61 70 1. How many…

A: =COUNTIF is used to count the cells satisfying the given criteria in the given range.

Q: im confused as how to approach this question, could you please explain?

A: The direct manufacturing labor hours are required to be calculated considering the 85% average time…

Q: Trey Monson starts a merchandising business on December 1 and enters into the following three…

A: Several inventory costing methods are available to calculate the value of cost of goods sold and…

Q: can you provide me more clear info

A: There are five special journals namely, cash receipt journal, cash disbursement journal, sales…

Q: I need the answers quickly

A: Alternative A: Computation of benefit: Computation of cost: Hence, the benefit cost ratio of…

Q: hi, tutor. What about on the problem 2?

A: Lets undestand the basics. As per accounting equation, total assets are always equal to total equity…

Q: please help me with part E.

A: A question with multiple sub parts were asked by you earlier. One of the sub parts were not…

Q: Explain the process involved in setting goals to assure you would be more likely to achieve them.

A: 1. Identify your goal: Start by clearly defining your goal and make sure it is specific and…

Q: Could you show me to solve this problem step by step. Please

A: The equation we have to solve is as shown on the white board. We will take the following approach.As…

Q: The attached image is the problem. Thank you!

Q: Can you share an example and explainwhy the CVP is important please.

A: Cost-Volume-Profit Analysis: Cost-volume-profit (CVP) analysis is a means to find out how changes in…

Q: I need help

A: Variance in $ = Revenue in Feb'13 - Revenue in Feb'12 Variance in % = (Variance in $) / Revenue in…

Question

Please help me to solve this problem

Hayward Co. reported net sales revenues of $20.0 billion and cost of goods sold of $6.1 billion. Its
gross profit percentage was:
O 43.6%.
30.5%.
O 11.9%.
O 69.5%.
Next

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
A company's net sales are $817,990, its costs of goods sold are $449,895, and its profit is $112,475. Its gross profit margin ratio equals: Multiple Choice 45.0%. 55.0%. 13.75%. 31.25% 25.0%.
If Swifty Corporation has net sales of $515000 and cost of goods sold of $365000, Swifty gross profit rate is 71%. 41%. 100%. 29%.
A company’s net sales are $675,000, its cost of goods sold is $459,000, and its net income is $74,250. Its gross margin ratio equals a. 32%. c. 47%. e. 34%. b. 68%. d. 11%.
Crane reported the following information for its fiscal year end: On net sales of $ 53.000 billion, the company earned net income after taxes of $ 7.155 billion. It had a cost of goods sold of $ 21.465 billion and EBIT of $ 9.275 billion. What are the company’s gross profit margin, operating profit margin, and net profit margin? (Round answers to 1 decimal place, e.g.12.5%.) Gross profit margin % Operating profit margin % Net profit margin %
PJ Corp. reported the following income statement results: Sales Sales returns & allowances Gross profit $ 9,87,400 $ 7,400 $3,78,280 Operating expense $ 2,64,500 Gain on sale of equipment $ 30,000 Net income $ 99,960 Calculate the gross profit margin.
Pharoah reported the following information for its fiscal year end: On net sales of $56.600 billion, the company earned net income after taxes of $6.792 billion. It had a cost of goods sold of $24.055 billion and EBIT of $9.622 billion. What are the company’s gross profit margin, operating profit margin, and net profit margin? (Round answers to 1 decimal place, e.g.12.5%.) Gross profit margin % Operating profit margin % Net profit margin %
CP Jenney Stores generates $13,765,230 in sales, $8,735,429 in net profit, and 25% in gross margin. What percentage of sales is cost of goods sold? Hint: vertical analysis.
Jester Corporation's most recent income statement appears below: Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (30%) Net income Multiple Choice O The beginning balance of total assets was $190,000 and the ending balance was $187,200. The return on total assets is closest to: O 23.9% Income Statement 22.3% 16.7% 31.8% $ 250,000 145,000 105,000 45,000 60,000 15,000 45,000 13,500 $ 31,500
o. Horner Corporation reported net sales of $150.000, cost of goods sold of $96,000, operating expenses of $35,000, other expenses of $10,000, net income of $9,000. Calculate the following values. 1. Profit margin. 2. Gross profit rate.
I need provide
Determining cost of goods soldFor a recent year, Best Buy (BBY) reported sales of $39,528 million. Itsgross profit was $9,191 million. What was the amount of Best Buy's costof goods sold?