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The following information relates to Wellington Supplies for a trading year. Calculate the overhead expenses as a percentage of the net sales. Details Sales Amount $720,000 Purchases $500,000 Sales Returns $35,000 Purchases Returns $40,000 Opening Stock Value $60,000 Closing Stock Value $58,000 Overhead Expenses $180,000

The following information relates to Wellington Supplies for a trading year. Calculate the overhead expenses as a percentage of the net sales. Details Sales Amount $720,000 Purchases $500,000 Sales Returns $35,000 Purchases Returns $40,000 Opening Stock Value $60,000 Closing Stock Value $58,000 Overhead Expenses $180,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Calculate the overhead expenses as a percentage of the net sales.

The following information relates to Wellington Supplies for a trading year. Calculate the overhead expenses as a percentage of the net sales. Details Sales Amount $720,000 Purchases $500,000 Sales Returns $35,000 Purchases Returns $40,000 Opening Stock Value $60,000 Closing Stock Value $58,000 Overhead Expenses $180,000
Transcribed Image Text:The following information relates to Wellington Supplies for a trading year. Calculate the overhead expenses as a percentage of the net sales. Details Sales Amount $720,000 Purchases $500,000 Sales Returns $35,000 Purchases Returns $40,000 Opening Stock Value $60,000 Closing Stock Value $58,000 Overhead Expenses $180,000
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