Sales revenue min a. gross margin income from c b. C. cost of goods d. net sales
Q: Weighted average cost per unit = per unit. Cost Cost of Goods Allocation Cost of Goods Sold Ending…
A: Sales = (50 units x $120) + (25 units x $125) = $6000 + $3125 = $9125 Cost of Goods Available = (100…
Q: a. Net sales b. Cost of goods sold C. Gross profit on sales
A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…
Q: What is operating margin ? a) It is equal to ( gross profit on sales – operating expense ) / net…
A: Operating Margin is the profitability ratio which shows the percentage of profit earned by the…
Q: Total cost + Profit:____ O a. Selling price O b. Cost of goods sold O c. Selling and…
A: The selling price has two components total cost and profit marked upon cost.
Q: Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross…
A: Inventory: Inventory refers to the raw materials, work-in process, and the finished goods…
Q: payment payroil percentage the amount of sales contributed by a sales person? O a. Sales O b.…
A: Note: As per our guidelines, we can only answer 1 question at once. Since, you haven't mentioned…
Q: Determine the following by preparing a multi-step form of SCI. a. Net Sales b. Net Purchases c. Cost…
A: Solution:- Calculation of the following items as follows:-
Q: Calculate the gross profit and the sales figures using the income statement approach.
A: Income statement approach refers to the approach which is used to determine the gross profit and it…
Q: A production cost report aids in preparing an income statement by providing data for? ------- A.…
A: Income statement:- An income statement is helpful in the determination of total revenues and…
Q: Sales to Y Sales to others Cost of goods sold
A: A consolidated financial statement is inclusive of all the subsidiary companies where the owner has…
Q: Revenue minus all direct costing of making the goods or supplying the service is known as? a. Gross…
A: All the direct costs to make the goods constitutes the cost of goods sold.
Q: Cost-to-retail ratio under the cost method is calculated: A. After both markups (net) and markdowns…
A: Both markups and markdowns is used to calculate the ratio.
Q: ow much is the total net revenue? ow much is the total net profit from the operation ow much is the…
A: As per rule, allowed to answer one question and post the remaining in the next submission.
Q: Distinguish between gross profit as a percentage of costand gross profit as a percentage of sales…
A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…
Q: The percentage of profit obtained from the sale of a certain product within a period is called …….…
A: Company makes sales of its products for the purpose of profit. For example, goods costing $10,000…
Q: Gross profit is the difference between: Select one: a. revenues and expenses. b. net income and…
A: Gross profit is the company's profit after deducting the unit cost of goods from sales. Gross profit…
Q: 8. The difference between total sales in dollars and total cost of goods sold is called: A. net…
A: When the total cost of goods sold is subtracted from the total sales in dollar, we arrive at the…
Q: The difference between sales and cost of goods sold for a retail business is: a.net sales. b.gross…
A:
Q: Mark up can be calculated by the formula; a. Markup = Cost + Expenses b. Markup = Cost + Profit c.…
A: Markup refers to the difference between the selling price of a good or service and its cost
Q: Which ratio can provide an indication of the salability of the company's products?
A: Accounting ratios, often known as financial ratios, describe the correlations between the figures on…
Q: Gross profit is calculated as the difference between net sales revenue and ________. A.…
A: Revenue- Revenue refers to the quantity of cash that a corporation actually received during the…
Q: Calculate cost of goods sold using: 1) FIFO 2) Weighted-average cost || 3) LIFO
A: FIFO Method:
Q: On a traditional income statement, sales revenue less cost of goods sold equals Question 26…
A: The income statement is prepared to find net income or losses incurred during the period.
Q: Cost of goods sold equals to a) ® Cost of goods available for sale - ending inventory. b) © Sales +…
A: COST OF GOODS SOLD REFERS TO THE DIRECT COSTS OF PRODUCING THE GOODS SOLD BY A COMPANY .
Q: Based on the account balances above, calculate Net sales Cost of goods sold Gross profit/loss Other…
A: Net sales means the sales of company less sales returns. Cost of goods sold means the direct cost of…
Q: Ql a) The cost of goods sold section of the income statement is divided into five distinct parts.…
A: Cost of goods sold means the cost incurred on the manufacturing or purchase of goods which has been…
Q: Determine the following by preparing a multi-step form of SCI. a. Net Sales b. Net Purchases C. Cost…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Calculate each of the following 1-Net sales -Cost of goods available for sales 3-Gross profit 4-Net…
A: Solution 1- Net Assets= Total sales- Sales return ( return inwards) = 100000-…
Q: 1. Gross profit margin is impacted by sales and cost of goods sold changes." O A) True O B) False
A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…
Q: Dividing cost of goods sold by the average of merchandise inventory is the calculation for the…
A: The ratio indicates how fast the company selling its inventory. a high inventory turnover indicates…
Q: Weighted Average Cost (Periodic) Units Cost Goods Available for Sale Cost of Goods Sold Ending…
A: Inventory Valuation: It is an asset held for sale in the ordinary course of business. It is used in…
Q: Concept introduction Gross profit ratio: Gross profit ratio calculated by dividng the gross profit…
A: Cost of goods sold means cost incurred on goods or cost of goods that are being offered for sale to…
Q: Payable turnover is a measure of cost ot goods sold and accounts payable. Select one: O True False
A: Payable turnover ratio is calculated as follows - cost of goods sold / average accounts payable
Q: What is the term applied to the excess of revenue from sales over the Cost of Merchandise Sold? a.…
A: Revenue from sales represents the amount of revenue recognized from the sales made during a…
Q: The gross profit rate is equal to: Choose net income divided by sales. cost of goods sold divided by…
A: Income statement is a part of financial statements of a company. It shows the company’s income and…
Q: Compute the receivable turnover ratio Also compute the inventory turnover ratio
A: A quantitative method that provides information about the company including its liquidity,…
Q: 1-The base used in estimating the Allowance for uncollectible is a. Percentage of Net profit…
A: Allowance for uncollectible accounts: Allowance for uncollectible accounts is a contra asset account…
Q: mula for Gross Margin ratio? Seleccione una: a. Cost of Sales / Gross Revenues b. Revenues / Gross…
A: Gross margin ratio is one of indicator of the profitability of company and depends on the total…
Q: et cost = Selling price - ______________. a. Cost b. Profit margin c. Revenue d. Expenses
A: Solution: Target cost = Selling price - profit margin. This is because target cost is the estimated…
Q: Cost-to-retail ratio under the cost method is calculated: O A. After markdowns (net) and before…
A: Cost to Retail Ratio Inventory valuation is of the biggest task for every business. Firm to take…
Q: A multi- step income statement ___________. A. Seperates cost of goods sold from operating…
A: Mutli step income statement means an income statement where first gross profit is calculated by…
Q: 7. Consider the following: Code: A= Gross Profit to Net Sales Ratio B= Gross Profit to Cost of Goods…
A: Gross profit ratio can be calculated on the basis of net sales ratio or cost of goods sold ratio.
Q: Compute the gross margin for FIFO method and LIF0 method. FIFO: LIFO: Sales revenue Less: Cost of…
A: Sales revenue has to be calculated by multiplying units sold (785 units) to the retail rate…
Q: a. Calculate the return on assets. (Ente b. Calculate the operating profit margin c. Calculate the…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Calculate gross profit percentage and return on sales ratio
A: The formula to calculate the given ratios are:
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- Allowance method Using transactions listed in £6-S. indicate the effects of each transaction on the liquidity metric days’ sales in receivables and profiability metric return on sales.A seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300. Shipping charges are $100. The terms of the sale are 2/10, n/30, FOB Destination. What, if any, journal entry or entries will the seller record for these transactions?Sales-related transactionsAfter the amount due on a sale of $28,000, terms 2/10, n/eom, is receivedfrom a customer within the discount period, the seller consents to thereturn of the entire shipment for a cash refund. The cost of themerchandise returned is $16,800. (A) What is the amount of the refundowed to the customer? (B) Journalize the entries made by the seller torecord the return and the refund.
- With credit terms of 2/10, n/30, the discount rate for paying after 11th days should be_______. The first section of an income statement shows the ___________________ Gross profit will be presented in the income statement after ____________________. In perpetual method, _______________ will be credited if an item bought will be returned.A "bill and hold" scheme is most likely to include: a) Shipment of items to a customer beyond what the customer has ordered b) Selling itms at substantial discounts near year end c) Billing items that are held by the customer in future revenue production purposes d) Recording items that the company retaines as of year end as sales cheggSales-Related Transactions After the amount due on a sale of $145,225, terms 2/10, n/30, is received from a customer within the discount period, the seller consents to the return of the entire shipment. The cost of the merchandise returned was $79,874. If required, round your answers to nearest whole value. a. What is the amount of the refund owed to the customer?$fill in the blank 1 b. Illustrate the effects on the accounts and financial statements of the return and the refund. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases, net cash outflows, and all negative effects on net income as negative amounts.
- After the amount due on a sale of $23,300, terms 2/10, n/eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment for a cash refund on March 1. The cost of the merchandise returned was $17,090. Required: (a) What is the amount of the refund owed to the customer? (b) Journalize the entries made by the seller to record the return and the refund. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Payable 219 Customers…When a sale is made with the credit terms of 2/10, net 30, the discount of ____% will be used if paid within 5 days. An inventory was bought amounting to 60,000. Using perpetual method ________________ account will be debited. When preparing an income statement, the final result will be _______________ if expense is larger then revenue. With credit terms of 2/10, n/30, the discount rate for paying after 11th days should be_______. The first section of an income statement shows the ___________________ Gross profit will be presented in the income statement after ____________________. In perpetual method, _______________ will be credited if an item bought will be returned. Cost of sales is computed as Cost of Goods Available for Sale _____________ ending inventory. Sales discount will be ________________ from Gross Sales. When _______________ method of reporting inventory is used, merchandise account will be debited when freight in was paid.Sales-Related Transactions After the amount due on a sale of $22,400, terms 1/10, n/eom, is received from a customer within the discount period, the seller consents to the return of the entire shipment for a cash refund. The cost of the merchandise returned is $13,440. a. What is the amount of the refund owed to the customer? b. Journalize the entries made by the seller to record the return and the refund. If an amount box does not require an entry, leave it blank.
