Rose Corporation's gross profit in 2023 was $800,000. If the cost of goods sold was 75% of sales, sales must have been A. $1,600,000 B. $2,400,000 C. $3,200,000 D. $4,000,000
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- 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. 1,220,000Rose Corporation's gross profit in 2023 was $800,000. If the cost of goods sold was 75% of sales, sales must have been A. $1,600,000 B. $2,400,000 C. $3,200,000 D. $4,000,000MBI Incorporated had sales of $35 million for fiscal 2022. The company's gross profit ratio for that year was 26%. Required: a. Calculate the gross profit and cost of goods sold for MBI for fiscal 2022. b. Assume that a new product is developed and that it will cost $469 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. c. From a management viewpoint, it could use the estimated selling price as a "target" in conducting marketing research studies to assess its ultimate prospects for success at this price. Complete this question by entering your answers in the tabs below. Required A Required B Required C From a management viewpoint, it could use the estimated selling price as a "target" in conducting marketing research studies to assess its ultimate prospects for success at this price.
- The gross profit margin is?If cost of goods sold is $520,000 and the gross profit rate is 20%, what is the gross profit? Select one: a. $2,600,000. b. $130,000. c. $ 520,000. d. $416,000.A company has sales of $150 million, cost of goods sold of $100 million, and a before-tax profit of 8%. If purchasing was able to reduce the cost of goods sold by $5 million, how much additional sales would be required to achieve the same impact on profit? General Account
- XYZ Corporation had the following data in 2022 below: Total assets = P300,000Gross profit margin = 25%Quick ratio = 0.80 xBond payable = P60,000Days sales outstanding = 36 daysDebt ratio = 50%Retained earnings = P97,500Times interest earned= 6 xInventory turnover = 5 xTotal assets turnover = 1.5 xNo. of days in a year = 360 days Tax rate = 35%Compute the total liabilities.XYZ Corporation had the following data in 2022 below: Total assets = P300,000Gross profit margin = 25%Quick ratio = 0.80 xBond payable = P60,000Days sales outstanding = 36 daysDebt ratio = 50%Retained earnings = P97,500Times interest earned= 6 xInventory turnover = 5 xTotal assets turnover = 1.5 xNo. of days in a year = 360 days Tax rate = 35%Compute the average merchandise inventory.Brighton Electronics had a quick ratio of 1.6, a current ratio of 3.5, an inventory turnover ratio of 7, total current assets of $950,000, and cash and equivalents of $140,000 in 2021. If the cost of goods sold equaled 84% of sales, what were Brighton's annual sales and days' sales outstanding (DSO)?
- Calculate the profit margin??Sterling Manufacturing had a quick ratio of 1.5, a current ratio of 3.2, an inventory turnover ratio of 6, total current assets of $900,000, and cash and equivalents of $150,000 in 2020. If the cost of goods sold equaled 85% of sales, what were Sterling's annual sales and days' sales outstanding (DSO)?Accurate answer