Chapter 7, Problem 8P

Dodge Enterprises has net sales of $920,000, cost of goods sold of $480,000, and total operating expenses of $275,000 for the fiscal year ended December 31, 2024. 1. What was the gross profit on sales? 2. What was the net income from operations?

General accounting

Accounting

Savannah Construction reported beginning total assets of $1,100,000 and ending total assets of $1,200,000 for 2020. Its net income for this period was $520,000, and its net sales were $3,000,000. Compute the company's asset turnover for 2020.

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Cher Industries has total material costs of $56,200, and total conversion costs are $74,600. The equivalent units of production are materials 18,250 and conversion costs 22,150. Compute the unit costs for materials and conversion costs.

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How much are equivalent unit for materials if the FIFO method is used?

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