Sunshine Bakeries reported net sales revenue of $43,500,000 in 2024. If their cost of goods sold was $30,450,000, what was their gross profit percentage for that year?
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- VikrambahiYour company has sales of $97,200 this year and cost of goods sold of $71,200. You forecast sales to increase to $113,100 next year. Using the percent of sales method, forecast next year's cost of goods sold.MBI 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.
- 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?What is its gross income for the year ??For 2022 Amaya's Soul Food Catering had total sales of $597,341; sales returns and allowances of $10,514; beginning inventory costs of $38,917; cost of purchases, $261, 053; and year-end inventory of $42,013. Rounded to the nearest dollar (i.e. 12), what are their Net Sales? A • Rounded to the nearest dollar (i.e. 12), what is their Cost of Goods Sold? A • Rounded to the nearest dollar (i.e. 12), what is their Gross Profit? A/
- During year 1, the sales and Cost of goods sold were GHS 6,00,000 and GHS 4,30,000 respectively. Next year, the sales are expected to increase by 10%. The Cost of goods sold for next year would beWhat is total gross income for the year?Calculate the gross profit margin and profit margin for bot year ?
- A consumer products company reported a 25 percent increase in sales from last year to this year.Sales last year were $200,000. This year, the company reported Cost of Goods Sold in the amountof $150,000. What was the gross profit percentage this year? Round to one decimal place.Gibson's has sales for the year of $538,900, cost of goods sold equal to 73 percent of sales, and an average inventory of $78,300. The profit margin is 7 percent and the tax rate is 21 percent. How many days, on average, does it take the company to sell an inventory item? Assume 365 days per year.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)?
