calculate requirement Nikkel Corporation, a merchandising company, reported the followingresults for July:SalesCost of goods sold (all variable)Total variable selling expenseTotal fixed selling expenseTotal variable administrative expenseTotal fixed administrative expenseThe gross margin for July is$4,02,800$1,69,100$ 17,100$14,200$ 7,600$ 30,100

Explanation: In the given question, we are required to calculate gross margin for the month of July.…

Answered: Nikkel Corporation, a merchandising…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 6EA: Akira Company had the following transactions for the month. Calculate the gross margin for the...

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Wright & Boyle Inc. had the following income statement for the month of May: Sales revenue $470,800.00 Cost of goods sold 217,766.40 Gross margin $253,033.60 Less: Selling expenses 86,199.20 Administrative expenses 74,942.80 Operating income $91,891.60 What was the selling expense percent?
A company reported the following information for the month of July: Net sales $ 57,500 Cost of goods sold 33,200 Required: Calculate this company's gross margin ratio.
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The condensed product-line income statement for Dish N’ Dat Company for the month of May is as follows: Dish N' Dat CompanyProduct-Line Income StatementFor the Month Ended May 31 Bowls Plates Cups Sales $92,300 $137,400 $43,500 Cost of goods sold 42,300 55,000 26,700 Gross profit $50,000 $82,400 $16,800 Selling and administrative expenses 35,600 55,600 22,400 Income from operations $14,400 $26,800 $(5,600) Fixed costs are 15% of the cost of goods sold and 25% of the selling and administrative expenses. Dish N' Dat assumes that fixed costs would not be materially affected if the Cups line were discontinued. Question Content Area a. Prepare a differential analysis dated May 31 to determine whether to Continue Cups (Alternative 1) or Discontinue Cups (Alternative 2). If an amount is zero, enter "0". For those boxes in which you must enter subtracted or negative numbers use a minus sign. Differential…
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The condensed product-line income statement for Dish N’ Dat Company for the month of May is as follows: Dish N’ Dat Company Product-Line Income Statement For the Month Ended May 31 1 Bowls Plates Cups 2 Sales $70,960.00 $105,450.00 $31,760.00 3 Cost of goods sold 32,990.00 42,680.00 16,710.00 4 Gross profit $37,970.00 $62,770.00 $15,050.00 5 Selling and administrative expenses 27,350.00 42,530.00 16,670.00 6 Income from operations $10,620.00 $20,240.00 $(1,620.00) Fixed costs are 30% of the cost of goods sold and 50% of the selling and administrative expenses. Dish N’ Dat assumes that fixed costs would not be materially affected if the Cups line were discontinued. Required: A. Prepare a differential analysis dated May 31 to determine if Cups should be continued (Alternative 1) or discontinued (Alternative 2). Refer to the lists of Labels and Amount Descriptions for…

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