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Q: Questions: Determine the following: 1. The gross sales for the year. a P1,000,000 b. P1,030,000 2…
A: Sales and purchases are an integral of every organization. Both Sales and Purchases can be done by…
Q: Income statement in $ Sales COGS Gross profit 300000 Operating expenses 200000 EBIT Interest…
A: The cost of goods sold is the cost of producing or acquiring the goods sold during the year. Direct…
Q: Use the following to answer questions 34 – 39 ST reports the following income statement results:…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: Calculate net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000, Rent…
A: Gross profit = sales - cost of goods sold = 100000 - 40000 = OMR 60000
Q: Calculate the gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and…
A: Sales = OMR 20000 Cost of goods sold = OMR 8000 Return inwards = OMR 6000 Net sales = Sales-Return…
Q: What will be the total operating expense? a.41200 b.53200 c. 19700 d. 21500 2-What will be the net…
A: Operating expense is defined as the expense which business make from its normal course of business…
Q: Consider the following income statement: $ 529,192 344,288 78,300 23% Sales Costs Depreciation Taxes…
A: Sales = $ 529192 Costs = $ 344288 Depreciation = $ 78300
Q: Problem 2: Sander Company presents the following information below: Sales Cost of Goods Sold Gross…
A: Sales = 970,000 Cost of goods sold = 387,000
Q: Manuel's cost of goods sold for the year is a. P257,000 b. P260,500 C. P261,000 d. P269,500 499
A: Raw Material used in production = Beginning Raw Material + Raw Material Purchased - Ending Raw…
Q: If the sales are 105000 $ and cost of goods sold is 45000 $. Current/noncurrent rate method is used.…
A: Income statement is a financial statement which shows income and expenses of the business. All…
Q: Calculate the gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and…
A: Net sales = Sales - Return inwards = 10000 - 4000 = 6000
Q: Calculate the missing information based on the format of the income statement. Net sales :…
A: Net Sales are of $4,236,000 Gross margin is of $1,830,000 Net profit of $659,500 To Find: Cost of…
Q: 2020 P1,939,500 900,000 1,039,500 445,500 37,575 P 556,425 Percentage 2019 P1,674,675 843,975…
A: Formula: Revenue % = ( Revenue value / revenue ) x 100
Q: Calculate the sales from the given information Cost of goods sold is $38,000…
A: The format is - Sales less Cost of goods sold less Depreciation less tax Net…
Q: Sales revenue Sales returns and allowances Net sales revenue Cost of goods sold Gro Ho 5,750 jogo…
A: Introduction: Gross Profit: Deduction of Cost of goods sold from Net sales revenue derives the Gross…
Q: A company shows the following balances: Sales Revenue $2962000 Sales Returns and Allowances 402000…
A: Gross profit rate = Gross profit / Net sales *100
Q: Calculate net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000, Rent…
A: Net income is the calculation of the remaining amount with an organization after deducting taxes,…
Q: Supply the missing dollar amounts for the income statement of Williamson Company for each of the…
A: Income statement is prepared by the company in calculating the amount of net loss or net profit…
Q: Cost of goods sold :- Sales - gross profit = 1000000 - 400000 = 600000 Calculation of total…
A: Here, To Find: Analysis and Interpretation =?
Q: 1. What amount should be reported as cost of goods manufactured? a. 6,900,000 b. 7,200,000 c.…
A:
Q: 7YReferring to the following table, what is Net sales revenue? Sales revenue $460,000| Cost of goods…
A: Formula: Net sales revenue = Sales revenue - Sales discounts - Sales returns and allowances
Q: If the amount of net sales is RM23,000, net purchase is RM10,000 and the cost of sales is RM2,450,…
A: Gross Profit =Net Sales - Cost of goods sold
Q: What is the cost of goods sold? O A. $751,700 OB. $364,500 O C. $455,400 O D. $520,600
A: Definition: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a…
Q: Pro-Forma Income Statement Sales Cost of goods sold Gross profit Operating expenses Net operating…
A: calculation of cost of goods sold = 62% of 14800000 = $ 9176000 calculation of sales and operating…
Q: Calculate gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and…
A: given Sales of OMR 20000, Cost of goods sold OMR 8000 and Return inwards OMR 4000.
Q: 7)Refemng to the following table, what is Net sales revemue? $460,000 Sales revenue Cost of goods…
A: Formula: Net sales revenue = Sales revenue - sales discounts - sales returns and allowances
Q: s the cost of goods sold? 5,387,500
A: Cost of goods sold refers to the expenses involved while the goods or services provided by the…
Q: 1) What is the amount of cost of goods sold for the current period? A. 4,800,000 В. 4,720,000 C.…
A: The question is based on the concept of Cost Accounting. As per Bartleby guidelines we are allowed…
Q: How much is the sales of branch to be included in the combined financial statements? a. 2,333,333 b.…
A: Combined Financial Statement:-It is a financial report in which both parent and subsidiary company's…
Q: Given this information, what is the profit percent? Format your answer to two decimal places and…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Calculate gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return…
A: Gross profit is the profit a company makes after deducting the costs associated with making and…
Q: Assume the following cost of goods sold data for a company: 2023 $1295360 2022 1209000 2021…
A: Cost of goods sold is the total selling amount of the inventory which is sold by the firm.
Q: ior Year and Current Year commonsize percents for cost of goods sold using net sales as the base…
A:
Q: Calculate gross profit from the following? Sales OMR 25000, Cost of goods sold OMR 15000 and Return…
A: Given Sales = 25000 Cost of goods sold = 15000 return inward =5000
Q: .Calculate the gross profit from the following? Sales OMR 25000, Cost of goods sold OMR 15000 and…
A: Net sales = Sales - Return inwards = OMR 25000 - OMR 2000 = OMR 23000
Q: Calculate the net profit from the following? Net sales OMR 100000, Cost of goods sold OMR 40000,…
A: Net sales = OMR 100000 COGS = OMR 40000 Rent received = OMR 20000 Salaries = OMR 10000 Insurance =…
Q: Walmart takes its net sales and subtracts the cost of goods sold during the previous period. The…
A: When the cost is deducted after the production and selling of the product, a profit is obtained…
Q: find costs of goods sold and operating expenses with the following information? Net Income (Net…
A: Costs of goods sold = Sales - Gross Profit Operating expenses = Gross Profit - Net Income
Q: Calculate gross profit from the following? Sales OMR 50000, Cost of goods sold OMR 30000 and Return…
A: Formula: Net sales = Sales - return inwards Deduction of return inwards from sales derives the net…
Q: Find the missing amounts from the income statement data for Zebtec Company. Zebtec Company Net…
A: Gross profit = Sales - Cost of Goods sold 465,000 = 890,000 - Cost of Goods sold Cost of Goods sold…
Q: Sales Cost of goods sold Gross profit Operating expenses Operating income Interest expense $168,000…
A: Horizontal analysis is an analysis carried out horizontally between the line of times which is…
Q: Under accrual basis, what amount should be reported as gross sales for the current year?
A: Gross sales are those sales which the company has made during the year which is in gross means the…
Q: During the current year, merchandise is sold for $237,500 cash and $625,000 on account. The cost of…
A: Gross profit means sales revenue earned over and above cost of goods that are sold to customers.…
Q: Calculate gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return…
A: Costs incurred directly by a corporation for producing goods and services are known as cost of goods…
Q: If Swifty Corporation has net sales of $515000 and cost of goods sold of $365000, Swifty gross…
A: Gross Profit: Difference between the sales and the cost of goods sold is called gross profit. Gross…
Q: Use the following to answer questions 34 – 39 ST reports the following income statement results:…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: During the year, an entity had net purchases of P100. If inventories had a net decrease of P20…
A: in order to find the cost of good sold the equation can be taken as opening stock and then in such…
Q: During the current year, merchandise is sold for $714000. The cost of the merchandise sold is…
A: Gross profit = Sales - Cost of merchandise sold
Q: net profit
A: Here cost of Goods sold amount is Given. hence no requirement for closing stock , opening stock, Net…
Q: What is the gross profit for the year if the net revenue from by-product is treated as additional…
A: A by-product seems to be a secondary product that is produced inadvertently as a by-product of the…
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- The JYD Company processes apples into pies, spread, and dressing. During the second quarter of 2021, the joint cost of processing the apples was P750,000. There were no beginning inventories for the quarter. Production and sales value information for the quarter were as follows: Assume the use of the estimated net realizable value method. Products Units Produced SV @ split-off Separable costs Final Selling Price Ending Units Pies 20,000 P12/unit P20/unit P35/unit 7,000 Spread 50,000 15/unit 10/unit 28/unit 24,000 Dressing 25,000 9/unit 8/unit 20/unit 10,000 The allocated joint cost for product Spread at the end of the quarter is: Group of answer choices c. P250,000 b. P450,000 d. Not given a. P150,000The JYD Company processes apples into pies, spread, and dressing. During the second quarter of 2021, the joint cost of processing the apples was P750,000. There were no beginning inventories for the quarter. Production and sales value information for the quarter were as follows: Assume the use of the estimated net realizable value method. Products Units Produced SV @ split-off Separable costs Final Selling Price Ending Units Pies 20,000 P12/unit P20/unit P35/unit 7,000 Spread 50,000 15/unit 10/unit 28/unit 24,000 Dressing 25,000 9/unit 8/unit 20/unit 10,000 The allocated joint cost for product Dressing at the end of the quarter is: Group of answer choices c. P150,000 a. P250,0000 d. Not given b. P450,000The JYD Company processes apples into pies, spread, and dressing. During the second quarter of 2021, the joint cost of processing the apples was P750,000. There were no beginning inventories for the quarter. Production and sales value information for the quarter were as follows: Assume the use of the estimated net realizable value method. Products Units Produced SV @ split-off Separable costs Final Selling Price Ending Units Pies 20,000 P12/unit P20/unit P35/unit 7,000 Spread 50,000 15/unit 10/unit 28/unit 24,000 Dressing 25,000 9/unit 8/unit 20/unit 10,000 The allocated joint cost for product Pies at the end of the quarter is: Group of answer choices b. P450,000 a. P150,0000 d. Not given c. P250,000
- Customizer makes two products, the X and Y. Information relating to each of these products for June 2021 is as follows. X (Units) Y (Units) Opening Inventory Production Sales 15,000 10,000 6,000 5,000 X (RM) Y (RM) Sales Price unit 20 per Prime cost Variable production overhead 30 12 16 1 Variable sales overhead 3 For June 2021, Customizer incurred the following fixed cost: RM 40,000 15,000 25,000 Production costs Administration costs Sales and Distribution costs Required: Based on the given information as above, you are required to calculate the profit or loss in June 2021 using marginal costing principles, if sales had been 15,000 units of X and 6,000 units of Y. (Please show relevant working).X Co. Ltd. produces three types of products A, B and C and keeps accounts for Process I, Process II and Process III. Following statements show the relative importance of each type of product in each process : Process I Points Process II Points Process III Points Product A Product B 2 4 2 4 2 1 Product C 8 3 2 Costs for each process for March, 2019 are as follows : Process I Process II $ 9,000 3,000 5,100 Process III $ 9,000 1,800 2,400 Total Materials Labour Overheads 12,000 4,200 3,000 $ 30,000 9,000 10,500 19,200 17,100 13,200 49,500 Production during the period : Product A 600 units ; Product B 300 units ; Product C 900 units. You are required to- (a) prepare a statement showing weighted average production for each process and (b) compute the cost for each type of product.VXY Corporation has the following standard costs associated with the manufacture and sale of one of its products: Direct material P 3.00 per unit Direct labor. P 2.50 per unit Variable manufacturing overhead. P 2.00 per unit Fixed manufacturing overhead. P 4.00 per unit (based on an estimate of 50,000 units per year) Variable selling expenses. P 0.25 per unit Fixed SG&A expense P 75,000 per year During 2021, its first year of operations, VXY manufactured 51,000 units and sold 48,000. The selling price per unit was P25. All costs were equal to standard. 1. The volume variance under absorptoon costing is.
- ABC Corp. manufa ctures a product that yields the by-pro duct, "Y". The only cost a ssociated with Y are selling costs of P.10 for each unit sold. ABC accounts for sales of Y by deducting Y's separable costs from Y's sales, and then deducting this net amountfrom the major product's cost of goods sold. Y's sales were 100,000 units at P1 each. If ABC changes its method of accounting for Y's sales by showing the net amountas additional sales revenue, then ABC's gross margin would: Increase by P90,000 Increase by 100,000 Increase by 110,000 Be una ffectedJoint products A, B and C are produced by JNT Corp. For the month just ended, these data are available: Using the market value method, the joint cost apportioned to each product will be: A. A – P22,652; B – P13,843; C – P13,335 B. A – P19,995; B – P19,014; C – P10,821 C. A – P22,440; B – P16,005; C – P11,385 D. A – P24,357; B – P14,885; C – P10,588VXY Corporation has the following standard costs associated with the manufacture and sale of one of its products: Direct material P 3.00 per unit Direct labor. P 2.50 per unit Variable manufacturing overhead. P 2.00 per unit Fixed manufacturing overhead. P 4.00 per unit (based on an estimate of 50,000 units per year) Variable selling expenses. P 0.25 per unit Fixed SG&A expense P 75,000 per year During 2021, its first year of operations, VXY manufactured 51,000 units and sold 48,000. The selling price per unit was P25. All costs were equal to standard. 1. Based on variable costing, the income before income taxes for the year was.
- A company is manufacturing a chemical product making use of four different types of raw materials as follows : Raw material Share of total input (%) Cost of raw material ($/kg) A 40 50 B 30 80 20 90 D 10 100 There is an inevitable normal loss of 10% during the processing. For April 2019, the management furnished the following information : Raw material Quantity consumed (kgs.) Cost of raw material ($/kg) 42,000 31,000 18,000 9,000 48 80 92 110 Output obtained for the month was 92,000 kgs. Calculate : (a) Material cost variance, (b) Material price variance, (c) Material mix variance. ABCD1. Process or Sell Product A is produced for $3.38 per pound. Product A can be sold without additional processing for $4.02 per pound or processed further into Product B at an additional cost of $0.44 per pound. Product B can be sold for $4.34 per pound. Prepare a differential analysis dated November 15 on whether to sell A (Alternative 1) or process further into B (Alternative 2). If required, round your answers to the nearest whole dollar. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 2. Accept Business at Special Price Product R is normally sold for $43 per unit. A special price of $32 is offered for the export market. The variable production cost is $24 per unit. An additional export tariff of 15% of revenue must be paid for all export products. Assume that there is sufficient capacity for the special order. Prepare a differential analysis dated March 16, on whether to reject (Alternative 1) or accept (Alternative 2) the special…Prime Company manufactures and sells four products 1 inventories of which are priced at cost or nét realizable val whichever is lower. A normal profit of 30% is usua maintained on each product. The following information is compiled at year-end: Estimated Normal Original cost Cost to Product dispose selling price selling price 1 700 150 205 50 260 800 950 300 1,000 700 475 255 450 950 350 900 3 4 Required: Determine the unit value for each product applying the 1owe of cost and net realizable value in measuring inventory. Ce