Nexus Technologies had sales of $720 million for fiscal 2024. The company's gross profit ratio for that year was 42.8%. Calculate the gross profit and cost of goods sold for Nexus Technologies for fiscal 2024.
Q: Sunrise Granola Co. sells its granola packs for $50 per case. Variable costs are $35 per case, and…
A: Step 1: Definition of Operating LeverageOperating leverage measures how sensitive a company's…
Q: Compute net income using accural basis
A: Net income using accrual basis = Sales on credit - Cost of inventory sold on credit - Selling…
Q: What is the Total period cost for the month under variable costing
A: Concept of Variable Costing:Variable costing is a costing method where only variable manufacturing…
Q: what is financial accounting? explain its parts and all things.
A: Financial Accounting: OverviewFinancial accounting is a branch of accounting that focuses on…
Q: What is the contribution margin ratio of this financial accounting question?
A: Step 1: Define Contribution Margin RatioContribution Margin Ratio is the percentage of sales revenue…
Q: What is the direct labor rate variance of this accounting question?
A: Step 1: Introduction to standard costingStandard costing is a management accounting technique used…
Q: Every transaction will affect how many accounts? Only One Only Two Two Or More
A: Explanation: In double-entry accounting, every financial transaction affects at least two…
Q: What was green wave's 2020 percentage return on assets of this financial accounting question?
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that shows…
Q: On January 1, 2014, Wonder, Inc., reports net assets of $965,000, although equipment (with a…
A: Explanation of Net Assets:Net assets refer to the total assets of a company minus its total…
Q: ?
A: Concept of Avoidable CostsAvoidable costs are expenses that can be eliminated if a particular…
Q: Tinsdale Corporation has the following budgeted sales: May $110,000, June $160,000, and July…
A: Explanation of Budgeted Sales: Budgeted sales represent the projected revenue a company expects to…
Q: Annual companys account profit?
A: Step 1: Definition of Break-Even AnalysisBreak-Even Analysis is a financial calculation used to…
Q: Please give me correct answer this financial accounting question not use ai
A: Step 1: Definition of Investment Amount in Business CombinationUnder the acquisition method, the…
Q: Financial accounting
A: Step 1: Define Price-to-Earnings (P/E) RatioThe Price-to-Earnings (P/E) Ratio is a valuation metric…
Q: General accounting question
A: Step 1: Definition of Stockholders' EquityStockholders' Equity represents the owners' residual…
Q: Need help with this question solution general accounting
A: Step 1: Definition of High-Low Method The High-Low Method is a technique used to separate fixed and…
Q: Don't give me incorrect solution
A: Concept of Contribution Margin:Contribution Margin is the difference between a company's total sales…
Q: Helietech corporation provide solution. General accounting
A: Step 1: Define Operating LeverageOperating Leverage measures how sensitive a company's operating…
Q: Ridgeway Inc. applied a total of $110,000 in overhead based on 20,000 machine hours for the year.…
A: Step 1: Definition of Applied OverheadApplied Overhead refers to the amount of manufacturing…
Q: Solve this Accounting problem
A: Explanation of Annual Rate of Return: The annual rate of return is a financial metric that measures…
Q: Answer this question
A: Explanation of Market Price per Share:Market price per share is the current price at which a…
Q: answer? ? Financial Accounting
A: Step 1: Define Gross ProfitGross Profit is the difference between sales revenue and the cost of…
Q: A company purchases depreciable equipment for $215 and sells it a few years later for $180. At the…
A: Explanation of Original Purchase Price:The original purchase price refers to the amount paid by a…
Q: What does the lawyer earn during the year
A: Step 1: Definition of Net Earnings (After Expenses)Net earnings refer to the total amount earned…
Q: The magnitude of operating leverage for Roshan Enterprises is 3.2 when sales are $200,000 and net…
A: Operating Leverage measures how sensitive a company's net income is to changes in sales. It…
Q: Comute the missing amount
A: Explanation of Sales:Sales represent the total revenue generated by a company from selling goods or…
Q: Financial Accounting
A: Step 1: Define Asset AllocationAsset Allocation refers to the process of distributing the cost of a…
Q: Hadley, Inc. manufactures a product that uses $25 in direct materials and $10 in direct labor per…
A: Step 1: DefinitionsActivity-Based Costing (ABC):ABC is a costing method that assigns overhead costs…
Q: General Accounting Question
A: Step 1: Definition of Total Manufacturing Cost and Unit Product CostTotal Manufacturing Cost is the…
Q: ???!
A: Explanation of Return on Investment (ROI):Return on Investment (ROI) is a financial metric that…
Q: Please given answer for APR general accounting question
A: Step 1: Define APR (Annual Percentage Rate)APR is the annual rate charged for borrowing or earned…
Q: Part A
A: For us to determine the adjusting entry for uncollectibles at December 31, 2026 we have this steps…
Q: Calculate the total number of units sold
A: Explanation of Sales Compensation :Sales compensation refers to the total monetary package paid to…
Q: D-Mart reported a net income of $19,500 for the previous year. At the beginning of the year, the…
A: Return on Assets (ROA) is a financial ratio that measures a company's profitability relative to its…
Q: How much does each sandwich contribute to paying for fixed expenses and generating profit on these…
A: Step 1: Define Contribution MarginContribution Margin is the amount remaining from sales revenue…
Q: Please provide answer the following requirements on these financial accounting question not use ai
A: Step 1: Define Equity MultiplierThe Equity Multiplier is a financial leverage ratio that measures…
Q: Why does capital adequacy determine accounting method selection? (a) Standard methods work for all…
A: Explanation of Capital Adequacy: Capital adequacy refers to the measure of a company's financial…
Q: Calculate the amount to be reported for ending inventory
A: Explanation of Cost Method: The cost method refers to valuing inventory at the original purchase or…
Q: Calculate the contribution margin ratio of this financial accounting question
A: Step 1: Define Contribution Margin RatioContribution Margin Ratio is the percentage of each sales…
Q: Subject financial accounting
A: Step 1: Identify the FormulaThe Return on Investment (ROI) formula is:ROI = Profit Margin ×…
Q: need true answer General accounting question
A: Step 1: Define Absorption CostingAbsorption Costing is a costing method where all manufacturing…
Q: None
A: Step 1: Definition of Interest PayableInterest Payable is the amount of interest expense that has…
Q: What is the manufacturing cycle time?
A:
Q: Please give me true answer this financial accounting question
A: Step 1: Define Work in Process InventoryWork in Process (WIP) Inventory refers to the costs…
Q: Step by step solution
A: Explanation of Land as a Non-Depreciable Asset: Land represents a unique category in accounting as…
Q: Choice correct answer with accounting question
A: Step 1: Definition of EquityEquity represents the residual interest in the assets of an entity after…
Q: Tutor please provide answer
A: Explanation of Industry Specificity Principle:The industry specificity principle in accounting means…
Q: What is the unit variable cost?
A: Step 1: Definition of Unit Variable CostUnit variable cost is the cost that varies directly with the…
Q: Subject: general accounting
A: Explanation of Asset Turnover Ratio: Asset turnover ratio is a financial efficiency metric that…
Q: Choose correct option
A: Approach to solving the question:According to accounting regulations such as Generally Accepted…
Help with general accounting
Step by step
Solved in 2 steps
- 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. 1,220,000XYZ Corp. had total sales of $1,200 million for fiscal year 2022. The company's gross profit ratio for that year was 40%. Calculate: Gross Profit Cost of Goods Sold (COGS)Calculate gross profit
- General accountingSubject: financial accountingA company has the following items for the fiscal year 2020: Revenue =10 million Cost of goods sold = 3 million EBITDA = 5 million EBIT = 4 million Net income = 2 million Calculate the company’s net profit margin Write the formula for the following ratios and what each ratio measures: Current Ratio Quick Ratio
- ?? Financial accounting questionCalculate gross profit, cost of goods sold, and selling price MBI Inc, had sales of $900 million for fiscal 2022. The company’s gross profit ratio for that year was 37.5%.Required:Calculate the gross profit and cost of goods sold for MBI for fiscal 2022.Assume that a new product is developed and that it will cost $1,625 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 2022.From a management viewpoint, what would you do with this information?Čardinal Industries had the following operating results for 2018: Sales = $34,621; Cost of goods sold Dividends paid = $2,023. At the beginning of the year, net fixed assets were $19,970, current assets were $7,075, and current liabilities were $4,01O. At the end of the year, net fixed assets were $24,529, current assets were $8,702, and current liabilities were $4,700. The tax rate for 2018 was 25 percent. $24,359; Depreciation expense = $6,027; Interest expense $2,725; %3D a. What is net income for 2018? (Do not round intermediate calculations.) b. What is the operating cash flow for 2018? (Do not round intermediate calculations.) c. What is the cash flow from assets for 2018? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) d- If no new debt was issued during the year, what is the cash flow to creditors? (Do not 1. round intermediate calculations.) d- If no new debt was issued during the year, what is the cash flow to stockholders? (Do…
- 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 %In fiscal year 2021, Walmart Inc. (WMT) reported annual revenue of $572.75 billion, gross profit of $143.75 billion, and net income of $13.67 billion. Costco Wholesale Corporation (COST) had revenue of $195.9 billion, gross profit of $25.25 billion, and net income of $5.01 billion. a. Compare the gross margins for Walmart and Costco. b. Compare the net profit margins for Walmart and Costco. c. Which firm was more profitable in 2021?Smith Corporation had Sales of $2,350,000 in 2021 and $2,125,000 in 2020. Cost of Good Sold were $1,400,000 in 2021 and $1,325,000 in 2020. a. What was the percentage change in Sales year to year? b. What was the percentage change in Cost of Goods Sold year to year? c. Relative to the percentage in Sales, would you say the percentage change on Cost of Goods Sold was favorable or unfavorable? d. Is this an example of horizontal or vertical analysis?