Financial Accounting Landon's Lawn Service reported the following for2023:.•.••Net Sales = $1,200,000Gross Profit = $480,000=EBIT $300,000Net Income = $180,000Shares Outstanding = 100,000Calculate the following:1. Profit Margin2. Gross Profit Margin

Step 1: Define Profit MarginProfit Margin is a financial metric that indicates the percentage of…

Answered: Landon's Lawn Service reported the…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter16: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 29E

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02. Consider the following information about a business Robin opened last year: price - $5: quantity sold - 15,233: Implicit cost $18,000; explicit cost - $33.000. What was Robin's accounting profit? $50,165 $61,165 $51,000 $43,165 $25,165 O O
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2. Conceptual Connection: Compute net profit margin for ERS. Round your answer to one decimal place. 6.6 % A If ERS is able to increase its service revenue by $100,000, what should be the effect on future income? If ERS had an incremental increase in revenue of $100,000, based on the net profit margin computed, what is the additional potential profit? 3. Conceptual Connection: Assume that ERS net profit margin was 8.5% for 2018. As an investor, what conclusions might you draw about ERS' future profitability? A declining profit margin implies that ERS is having difficulty maintaining control over its expenses.
The following data relates to Campus Goods Inc: Amount in $ Revenue 400000 Operating Profit 20% cost of good sold 55% Operating Expense ( as % of revenue ) 25% Required: Based on the above data determine the following: 8A. Cost of Goods Sold in $ is ___________. 250,000 100,000 150,000 220,000 8B. Gross Profit in $ and % is ___________ and ___________ respectively. 250,000 and 20% 180,0000 and 40% 180,000 and 45% 220,000 and 45% 8C. Operating expenses is ___________. 100,000 150,000 200,000 120,000 8D. Operating profit in $ is ___________. 55,000 65,000 80,000 70,000

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Landon's Lawn Service reported the following for 2023: . • . • • Net Sales = $1,200,000 Gross Profit = $480,000 = EBIT $300,000 Net Income = $180,000 Shares Outstanding = 100,000 Calculate the following: 1. Profit Margin 2. Gross Profit Margin