Snyder Brush Company Ltd sells standard hairbrushes. The following information summarises Snyder's operating activities for 2016: E (Click the icon to view the information.) Requirements 1. Prepare an income statement for 2016. Calculate the ratio of operating expense to total revenue and profit to total revenue. 2. Snvder sold 6 000 brushes in 2016. Calculate the unit cost for one brush. Requirement 1. Prepare an income statement for 2016. Calculate the ratio i operating expense to total revenue and profit to total revenue. (Type a whole percentage.) Snyder Brush Company Ltd Income statement Information for the year ended 31 December 2016 Selling and administrative expenses 49 680 Cost of sales: Purchases 78 000 Sales revenue 138 000 Inventory, 1 January 2016 7 500 Inventory, 31 December 2016 12 360 Print Done Gross profit Requirement 2. Snyder sold 6 000 brushes in 2016. Calculate the unit cost for one brush. (Round to two decimal places.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Snyder Brush Company Ltd sells standard hairbrushes. The following information summarises Snyder's operating activities for 2016:
E (Click the icon to view the information.)
Requirements
1. Prepare an income statement for 2016. Calculate the ratio of operating expense to total revenue and profit
total revenue.
2. Snvder sold 6 000 brushes in 2016. Calculate the unit cost for one brush.
Requirement 1. Prepare an income statement for 2016. Calculate the ratio of operating expense to total revenue and profit to total revenue. (Type a whole percentage.)
Snyder Brush Company Ltd
Income statement
Information
for the year ended 31 December 2016
Selling and administrative expenses
$
49 680
Cost of sales:
Purchases
78 000
Sales revenue
138 000
Inventory, 1 January 2016
7 500
Inventory, 31 December 2016
12 360
Print
Done
Gross profit
Requirement 2. Snyder sold 6 000 brushes in 2016. Calculate the unit cost for one brush. (Round to two decimal places.)
Transcribed Image Text:Snyder Brush Company Ltd sells standard hairbrushes. The following information summarises Snyder's operating activities for 2016: E (Click the icon to view the information.) Requirements 1. Prepare an income statement for 2016. Calculate the ratio of operating expense to total revenue and profit total revenue. 2. Snvder sold 6 000 brushes in 2016. Calculate the unit cost for one brush. Requirement 1. Prepare an income statement for 2016. Calculate the ratio of operating expense to total revenue and profit to total revenue. (Type a whole percentage.) Snyder Brush Company Ltd Income statement Information for the year ended 31 December 2016 Selling and administrative expenses $ 49 680 Cost of sales: Purchases 78 000 Sales revenue 138 000 Inventory, 1 January 2016 7 500 Inventory, 31 December 2016 12 360 Print Done Gross profit Requirement 2. Snyder sold 6 000 brushes in 2016. Calculate the unit cost for one brush. (Round to two decimal places.)
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