The income statement comparison for Forklift Material Handling shows the income statement for the current and prior year. FORKLIFT MATERIAL HANDLING Income statement Comparison (Amounts in thousands) Sales Cost of goods sold Gross profit Expenses: Wages Utilities Repairs Selling Total Expenses Operating income Operating income % Total assets (investment base) Return on investment Residual income (8% cost of capital) Current Year $33,750 21,937.5 $11,812.5 $8,800 700 169 506 $10,175 ? ? $4,500 ? ? Prior Year $24,750 16,830 $7,920 $6,189 300 300 100 $6,889 ? ? $1,500 ? ?

The income statement comparison for Forklift Material Handling shows the income statement for the current and prior year. FORKLIFT MATERIAL HANDLING Income statement Comparison (Amounts in thousands) Sales Cost of goods sold Gross profit Expenses: Wages Utilities Repairs Selling Total Expenses Operating income Operating income % Total assets (investment base) Return on investment Residual income (8% cost of capital) Current Year $33,750 21,937.5 $11,812.5 $8,800 700 169 506 $10,175 ? ? $4,500 ? ? Prior Year $24,750 16,830 $7,920 $6,189 300 300 100 $6,889 ? ? $1,500 ? ?

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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During the current year, Sokowski Manufacturing earned income of $396,900 from total sales of $6,300,000 and average capital assets of $12,900,000. What is the sales margin? If required, round your answer to one decimal place. _____%
Blossom Manufacturing Ltd.'s sales for the year ended December 31, 2022 are $1.00 million. The expenses for 2022 are as follows: Cost of goods sold Selling expenses Administrative expenses Variable $320,000 56,000 27,920 Fixed $180,000 26,400 36,000 Prepare a detailed CVP income statement for the year ended December 31, 2022. Blossom Manufacturing Ltd. CVP Income Statement $ $
The income statement comparison for Forklift Material Handling shows the income statement for the current and prior year. FORKLIFT MATERIAL HANDLINGIncome statement Comparison Current Year Prior Year (Amounts in thousands) Sales $33,700 $24,750 Cost of goods sold 21,905 16,830 Gross profit $11,795 $7,920 Expenses: Wages $8,775 $6,189 Utilities 700 300 Repairs 169 325 Selling 505 300 Total Expenses $10,149 $7,114 Operating income ? ? Operating income % ? ? Total assets (investment base) $4,400 $1,400 Return on investment ? ? Residual income (8% cost of capital) ? ? A. Determine the operating income (loss) (dollars) for each year. If required round final answers to two decimal places. Current Year Prior Year Operating income (loss) $fill in the blank 1 $fill in the blank 2 B. Determine the operating income (loss) (percentage) for each year. If required round final answers to two…
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