PROBLEM 3 For each of the following, determine the missing amounts Sales COGS Gross Profit Operating Expenses Net income 1. P100,000 P25,000 P10,000 2. P95,000 P120,000 P80,000 Answers: 1. COGS, ; Gross profit, 2. Sales, ; Operating expenses,
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- Question C5 Majan Ltd income statement for the year ended 31st Dec 2020 and the balance sheets as at 31st Dec 2009 and 2019 are as follows: Income statement OMR in million Revenue 312 Cost of sales (177) Gross profit 135 Distribution expenses (36) Administrative expenses (15) 84 Rental income 14 Operating profit 98 Interest payable (13) Profit before taxation 85 Taxation (18) Profit for the year 67 Balance sheet as at 31st Dec 2020 and 2019 2020 2019 OMR in million OMR in million Non – current assets Property, plant and equipment Land and buildings 155 155 Plant and machinery 157 163 312 318 Current assets Inventories 18 21 Trade receivables 73 70 Current liabilities…Required A Required B Required C Compute RSB&T's operating profits. Operating profit Compute the profit from Customer A and Customer B, assuming that customer costs are based only on deposits. Interest costs = {{0.5:#,##0.00}} percent of deposits; operating costs are 4 percent (= $19,500,000/$487,500,000) of deposits.(Do not round intermediate calculations. Round your answers to 2 decimal places.) Profit Per Customer Customer A Customer B Compute the profit from Customer A and Customer B, assuming that customer costs are computed using the information in the activity-based costing analysis. (Do not round intermediate calculations. Round your answers to 2 decimal places. Loss amounts should be indicated by a minus sign.) Customer A Customer B Sales revenue Interest on deposit Total operating cost Customer…3-17 During the current year, XYZ Company increased its variable SG&A expenses while keeping fixedSG&A expenses the same. As a result, XYZ’s:a. Contribution margin and gross margin will be lower.b. Contribution margin will be higher, while its gross margin will remain the same.c. Operating income will be the same under both the financial accounting income statement and contributionincome statement.d. Inventory amounts booked under the financial accounting income statement will be lower than underthe contribution income statement.