Use the following to answer questions 30 – 35Find the missing amounts:Case 1Case 2Case 3Net SalesS687,000 $922,500COGS?478,500 654,000Gross profit324.100456.000|Operating expense 299,500 354,200Operating income??94.50030. $soldFor case 1, determine cost of goods31. $For case 1, determine operating income(include “-“ if needed)32. $For case 2, determine gross profit33. $(includeFor case 2, determine operating income“_“ if needed)34. $For case 3, determine net sales35.$Forcase 3, determine operatingexpense

Ans. 30. $ 362,900 31. $ 24,600 32. $ 444,000 33. $ 89,800 34. $ 1,110,000 35. $ 361, 500

Use the following to answer questions 30 – 35 Find the missing amounts: Case 1 Case 2 Case 3 Net Sales IS687,000 $922,500 ? COGS 478,500 654,000 456,000 Gross profit Operating expense 299,500 354,200 Operating income 324,100 ? 94,500 30. $ sold For case 1, determine cost of goods For case 1, determine operating income if needed) 31. $ (include 32. $ For case 2, determine gross profit 33. $ (include For case 2, determine operating income if needed) 34. $ For case 3, determine net sales 35. For case 3, determine operating expense

Use the following to answer questions 30 – 35 Find the missing amounts: Case 1 Case 2 Case 3 Net Sales IS687,000 $922,500 ? COGS 478,500 654,000 456,000 Gross profit Operating expense 299,500 354,200 Operating income 324,100 ? 94,500 30. $ sold For case 1, determine cost of goods For case 1, determine operating income if needed) 31. $ (include 32. $ For case 2, determine gross profit 33. $ (include For case 2, determine operating income if needed) 34. $ For case 3, determine net sales 35. For case 3, determine operating expense

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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