gross profit are
Q: How much is the gross profit variation due to
A: Heythere since you have posted m
Q: What formula is used to determine net profit
A: Net profit is the actual income earned by an organization after paying all the expenses. It is…
Q: Explain an example how to calculate gross profit percentage.
A: Gross margin percentage: The percentage of gross profit generated by every dollar of net sales is…
Q: Briefly explain the difference between gross profit, net profit and EBIT.
A: Gross Profit is computed by deducting Cost of goods sold from Sales. Gross profit is the profit a…
Q: Define Gross Profit Method.
A: Definition: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a…
Q: What is the gross profit? [ Select ] How much is the operating expense? | Select I | Select ] How…
A: Solution:- As per the above questions first we required to compute income statement. which helps to…
Q: calculate gross profit using FIFO and weighted average
A: FIFO and weighted average are methods of valuation of inventory. FIFO means First - in -First out,…
Q: This ratio is used to reflect t profit earning performance firm's assets return on assets net profit…
A: Solution: Profit earnings performance of the company's assets means that how much of the company's…
Q: All of the following are the factors affecting the gross profit except O cash flow O volume O…
A: Gross Profit = Sales revenue - Cost of goods sold
Q: tion that gives the profit in
A:
Q: What is the difference between a traditional format income statement and a contribution format…
A:
Q: what are contrast economic concepts of income from reported income?
A: As per the income statement, the reported income refers to the income left after subtracting the…
Q: What does the gross profit percentage measure, and how is it calculated?
A: Gross margin percentage: The percentage of gross profit generated by every dollar of net sales is…
Q: What's the difference between the profit margin and gross margin ratio?
A: Ratio is the arithmetic relationship between two figures. Accounting ratios shows the…
Q: rual profit
A: Difference between Cash and Accrual Profit The cash basis and accrual basis of accounting are two…
Q: How does EVA differ from accounting profit?
A: Introduction: Economic value added is the sum of net earnings over capital costs. EVA corresponds to…
Q: What is gross profit? How do you calculate it?
A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…
Q: theories of profit
A: The profit is the key incentive for a firm to operative business . According to each theory of the…
Q: Explain the term Gross profit margin.
A: Profitability ratios: Profitability ratios are the metrics used to measure the profit generating…
Q: Explain an example how to calculate gross profit.
A: Gross profit is the left over revenue after deducting all direct costs of making the products or…
Q: What is net profit margin?
A: The margin of net profit is equal to the amount of income produced by the net sales or gains. For a…
Q: What is the gross profit and how do i calculate it
A: Manufacturing department profit is also known as gross profit. This profit includes only costs…
Q: Define the term Profit margins?
A: Financial Ratios: Financial ratios are the metrics used to evaluate the liquidity, capabilities,…
Q: amount of profit
A: Total Fixed cost = OMR 40000 Selling price per unit = OMR 20 Total Sales = OMR 120000 Number of…
Q: Net net profit is computed in the
A: Net profit in computed in the Income statement or profit and loss statement . The format of the…
Q: What is gross profit margin?
A: The method to analyze the performance of a company through its profitability is term as the…
Q: What is gross income?
A: The concept of gross income can be understood in two contexts 1. for corporates 2. for individuals
Q: What is Pro forma (or projected) profit-and-loss statement?
A: Pro Forma financial Statement (also called as pro forma profit and loss) means that however the…
Q: How is Profit Margin calculated and what does It measure?
A: Note: Since you have asked multiple questions, we will solve the first question. To get the…
Q: What is the formula for gross profit
A: Gross profit is an excess of revenue over the cost of goods sold.it can be calculated by deducting…
Q: Gross Profit %===>
A: FIFO is the abbreviation used for the First In First Out method: FIFO Date Item Quantity Cost…
Q: What makes up gross income?
A: Gross income is direct income of a business generated from direct revenues of the company. It is an…
Q: How do gross profits, operating income, and net income differ
A: In finance when making or analyzing an income statement we look into different types of income or…
Q: What is the gross profit? | Select) How much is the operating expense? [ Select ] | Select) How much…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: What is the difference between operating and non –operating income?
A: Income statement: The financial statement which reports revenues and expenses from business…
Q: What is the difference of net income and gross income?
A: The answer is provided as follows:
Q: Define Gross profit ratio.
A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…
Q: How is gross profit calculated, and what does it represent?
A: Gross profit is the difference of amount obtained by subtracting Cost of goods sold from Net…
Q: Find the Gross Profit
A: Direct costs are associated with the manufacturing of goods/services provided to consumers,…
Q: What are the major uses of the gross profit method?
A:
Q: o our authors, define “gross profit" and provide an example.
A: Gross Profit is the margin that a business wanted to earn on selling the goods or service, its…
Q: Cost of goods sold and gross profit and net profit
A: Trading and profit and loss account Trading account shows sales and expenses incurred in…
Q: Net Income and Retained Earning:
A: Borio company had an asset with an $8 book value and its market value is $7. It is decided to…
Q: Where is net profit shown in balance sheet?
A: The profit of a corporation is referred to as net profits.
Q: Describe the common profitability measures.
A: Common profitability measures include profitability ratios such as ROE, ROA, profit margin etc They…
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- May Company has ending finished goods inventory of P40,000.00, beginning finished goods inventory P55,000.00 and cost of goods manufactured of P120,000.00. What is the cost of goods sold of May Company? P 105,000.00 P 135,000.00 P 140,000.00 P 120,000.00Ruby Beauty Cosmetic Finished goods inventory Details, ending P20,000.00, cost of goods manufactured P230,000.00, and beginning finished goods inventory P11,000.00. How much is the cost of goods soldNEED IT ASAP LO.3 (FIFO cost assignment) In October 2010, Tibbetts Company had the following production and cost data:Beginning inventory units (80% complete as to DM;45% complete as to DL; 30% complete as to OH)42,600October completed production 1,570,000Units in ending inventory (35% complete as to DM;15% complete as to DL; 5% complete as to OH) 28,400Beginning inventory cost $458,482October direct material cost per EUP $10.74October direct labor cost per EUP $13.88October overhead cost per EUP $24.80 a. What is the cost of the beginning inventory transferred out in October?b. What is the total cost transferred out in October?c. What is the cost of ending inventory at the end of October?d. What is the total cost to account for during October?
- Ruby Beauty Cosmetic Finished goods inventory Details, ending P20,000.00, cost of goods manufactured P230,000.00, and beginning finished goods inventory P11,000.00. How much is the cost of goods sold P 221,000.00 P 239,700.00 P 239,000.0 P 221,300.00LO.3 (FIFO cost assignment) In October 2010, Tibbetts Company had the following production and cost data:Beginning inventory units (80% complete as to DM;45% complete as to DL; 30% complete as to OH)42,600October completed production 1,570,000Units in ending inventory (35% complete as to DM;15% complete as to DL; 5% complete as to OH) 28,400Beginning inventory cost $458,482October direct material cost per EUP $10.74October direct labor cost per EUP $13.88October overhead cost per EUP $24.80a. What is the cost of the beginning inventory transferred out in October?b. What is the total cost transferred out in October?c. What is the cost of ending inventory at the end of October?d. What is the total cost to account for during October?the net sales 159 150 ID , beginning finished goods inventory 16 500 ID ,Cost of goods manufactured 121 050 ID , ending finished goods inventory 9000 ID , the gross profit are
- From these results of operations, determine the cost of goods manufactured of XY Co.Finished goods -beg P72,000 Sales P465,000Finished goods - end P66,000 Gross margin P88,000 a. P371,000b. P377,000c. P383,000d. P459,000Extreme Company shows the following information:Units Unit cost Total costJanuary 1 Beginning 10,000 40 400,00031 Sale 5,000April 1 Purchase 15,000 50 750,000July 31 Sale 18,000October 1 Purchase 25,000 60 1,500,000December 31 Sale 12,000Required:Compute the cost of the ending inventory and cost of sales using:1. FIFO – periodic2. Weighted average3. Moving averageReferring to the situation in P9.2 for Garcia Home Improvement Company, consider the following expanded data at May 31, 2020. Assume Garcia uses LIFO inventory costing. Cost ReplacementCost SalesPrice Net RealizableValue NormalProfit Aluminum siding $ 70,000 $ 62,500 $ 64,000 $ 56,000 $ 5,100 Cedar shake siding 86,000 79,400 94,000 84,800 7,400 Louvered glass doors 112,000 124,000 186,400 168,300 18,500 Thermal windows 140,000 126,000 154,800 140,000 15,400 Total $408,000 $391,900 $499,200 $449,100 $46,400 Instructions a. 1. Determine the proper balance in Allowance to Reduce Inventory to Market at May 31, 2020. 2. For the fiscal year ended May 31, 2020, determine the amount of the gain or loss that would be recorded due to the change in Allowance to Reduce Inventory to Market. Prior to adjustment, the Allowance account had a balance of $27,500. b. Explain the rationale for the use of the lower-of-cost-or-market rule as it…
- Opening stock of work in progress is 12000, and closing stock of Work in progress is 11750 OMR, Opening stock of finished goods is 12000, and closing stock of finished goods is 13000 OMR, Cost of goods manufactured 286000 OMR Calculate cost of Goods Sold None of these O b. 285000 OMR 299250 OMR C. O d. 398250 OMREA6. LO 10.2 Akira Company had the following transactions for the month. Number of Units cost per unit Beginning inventory 150 $1,500 Purchased Mar. 31 160 1,920 Purchased Oct. 15 130 1,950 Total goods available for sale 440 5,370 Ending inventory 50 ? Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $25 each. Provide your calculations. A first-in, first-out (FIFO). B. last-in, first-out (LIFO) C. weighted average (AVG)For each case below, find the missing amount. Case I Case II Case IIIBeginning inventory of finished goods ................... ? $12,000 $ 7,000Cost of goods manufactured during period ........$419,000 $95,000 ?Ending inventory of finished goods .......................... 98,000 8,000 21,000Cost of goods sold ............................................................ 405,000 ? 304,000