Use this problem to answer the following requirements: Mabuhay Corporation generated these gross profits during the past recent ears when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The decrease in gross profit due to decrease in selling price must be
Q: The management of Bataan Corporation ask you to submit an analysis of the increase in their gross…
A: change in cost = Cost of sales in 2021 - Cost of sales in 2020=950,000 - 800,000=150,000
Q: Abacus Co. reported net income of P2,100,000 for 2020 . It incurred operating expenses other than…
A: The gross profit is the excess of net sales over the cost of goods sold. Operating profit can be…
Q: Assume the following ratios remain for the year 2020: cost of sales, 35% of sales; tax, 30% of net…
A: 5. Projected Increase in sales = Projected Sales in year 2020 - Sales in year 2019 Projected…
Q: Mabuhay Corporation generated these gross profits during the past recent years when the sales price…
A: The growth in sales is primarily driven by the growth in quantity and the growth in sale price.…
Q: Swann Systems is forecasting the following income statement for the upcoming year: Sales…
A: Net income is calculated after analysing revenues like sales and expenses of the organisation.
Q: A Corporation generated these gross profits during the past recent years when the sales price was…
A: 2020 2019 Sales P1,944,000 P1,900,800 Cost of Sales P1,152,000 P1,113,600 Gross…
Q: A Corporation generated these gross profits during the past recent years when the sales price was…
A: Standard costing in simple terms can be defined as a system in which the standard costs and revenues…
Q: Prepare a 2020 income statement for Crane Corporation based on the following information: Cost of…
A: Introduction: An income statement is a financial statement that shows a company's income and costs.…
Q: How much is the net effect of the transactions listed above on profit or loss before tax in the…
A:
Q: Mabuhay Corporation generated these gross profits during the past recent ears when the sales price…
A: Mabuhay corporation 's Sales price was lower was 10% during 2020 compared to 2019. Decreased sales…
Q: Utilize the 2019 financial statements for Micron Industries provided on page 1 and assume that the…
A: Notes payable will not be vary directly with sales/revenue. Because the notes payable is non trade…
Q: Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018…
A: Calculation of Percentage Change in Sales Given , 2019 2018 Sales 810000 792000 The Sales…
Q: A firm is considering several policy changes to increase sales. It will increase the variety of…
A: Given: Increase in inventory=$11900Increase in average receivables =$68800Increase in sales=$819000…
Q: Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018…
A: Gross Profit = Sales - Cost of Sales
Q: Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018…
A: % change in total sales and cost of goods sold from 2018 to 2019 can be because of % change in…
Q: The following data for the years ended December 31, 2019 and 2020 were presented to the management…
A: Cost of sales: It is the total cost incurred in the production of goods. It includes cost of…
Q: A firm is considering several policy changes to increase sales. It will increase the variety of…
A: The cash cycle consists of the inventory period plus the account receivable period minus the account…
Q: A Corporation generated these gross profits during the past recent years when the sales price was…
A: 2020 sales at 2019 price = 2020 sales / (1 - lower in sales price %) = P1,944,000 / (1 - 0.10) =…
Q: Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018…
A: Sales: Sales include a number of goods and services sold by the organization during their accounting…
Q: If Going Merry Inc. has a net income of P 200,000 and a net sales of P 5,050,000 during 2020; and a…
A: Return on sales indicates how efficiently the company is converting revenue into profit. Higher rate…
Q: Prepare a 2020 income statement for Wildhorse Corporation based on the following information: Cost…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018…
A: Gross profit refers to the profit earned after subtracting the cost of goods sold from the sales…
Q: 1. What would be the amount of decrease in gross profit due to the change in selling price assuming…
A: In case of change in only selling price, the cost of sales shall remain same. However, when…
Q: Prepare a projected statement of comprehensive income for the year ended 31 December 2021 to…
A: The income statement is one of the financial statements of the business.
Q: Perform the common sizing analysis for 2019 and 2018. Comment on your observations on the changes in…
A: Formulas for commons size analysis of balance sheet:
Q: Global Corp. initially projected the 2019 income statement shown in the table . Suppose that in…
A: The share price is the price of the specific share is listed on the recognized stock exchange for…
Q: Prepare a 2020 income statement for Crane Corporation based on the following information: Cost of…
A: Introduction: An income statement is a financial statement that shows the income as well as expenses…
Q: The management of Bataan Corporation ask you to submit an analysis of the increase in their gross…
A: Gross benefit is the benefit an organization makes in the wake of deducting the expenses related to…
Q: Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018…
A: Gross profit is the profit earned by an organization before its direct expenses (admin and selling…
Q: A Corporation generated these gross profits during the past recent years when the sales price was…
A: Cost price is represented by Cost of Sales. Sales Volume in 2019 = P1,900,800 Sales Volume in 2020…
Q: The increase (decrease) in gross profit because of the change in units sold is:
A:
Q: ofit: 474,000. The management requested you to determine the cause of the decline in gross profit on…
A: Management might improve its overall profit margin by either increasing sales revenue or decreasing…
Q: 450.000 360.000 350.000 Assuming that effective January of 2021 the unit cost is higher by 6…
A: Due to increase in price sale reduced but due to increase in volume of sales increases.
Q: Consider the following information for Handley Stores for 2020 and 2021: 2020 2021 Total assets…
A: ROI Net income / total assets For the year 202 4453,000/72,590,000 6.13% For the year 2021.…
Q: Prepare a projected statement of comprehensive income for the year ended 31 December 2021 to…
A: Hi student Since there are multiple subparts, we will answer only first three subparts
Q: Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018…
A: Calculation of Sales Value if There would be no reduction in sales price. Sales (2018) = P792000…
Q: Mabuhay Corporation generated these gross profits during the past recent ears when the sales price…
A: Here to find out the total increase in the quantity sold. Sales Price was reduced by 10% during in…
Q: Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018…
A: 2018 2019 sales 792,000 sales 810,000 COS 464,000 COS 480,000 gross profit 328,000 gross…
Q: Venus corp has the following income statement for the year 2020 Gross sales Sales return Sales…
A: Solution: Net income before tax = P25,000 Interest expense = P30,000 Earnings before interest and…
Q: During 2020 Quail, Inc. had sales of $86,000. In addition, during 2020 Quail received $4,000 in cash…
A: Net sales means the amount of revenue earned and cost of goods sold means the cost of goods which…
Q: The percent of increase (decrease) in cost price must be:
A: Calculation of Percentage Change in Sales Given , 2019 2018 Sales 810000 792000 The Sales…
Q: The increase (decrease) in gross profit because of the change in sales price is
A:
Q: If a company's sales are $650,000 in 2021, and this represents an 5% increase over sales in 2020,…
A: The sales in previous year can be calculated as current year sales minus the growth in sales of…
Q: What is Armin’s breakeven point in 2019?
A: Margin of safety = Total sales - Breakeven sales. Breakeven sales = Total sales - Margin of safety.
Q: Mabuhay Corporation generated these gross profits during the past recent ears when the sales price…
A: The profit a corporation makes after subtracting the expenses of producing and selling its goods, or…
Q: · The company manager targets to reduce the current ratio in the year (2020) by 33% from the…
A: Current ratio is a liquidity measure which measures the ratio of current assets to current…
Q: Prepare a 2020 income statement for Wildhorse Corporation based on the following information: Cost…
A: preparation of income statement are as follows
Q: The portion of the functional income statements of BP Company for 2021 and 2020 are presented below:…
A: Note:-Dear student I found on small error i.e. you have mentioned there is a decrease of 11% in…
Q: GHIST Co. reported a net income of P2,100,000 for 2020. It incurred operating expenses other than…
A: Relationship between Operating Expense and Gross Profit Cost of sales = Net sales - Gross profit We…
Q: Austin Grocers recently reported the following 2019 income statement (in millions of dollars): Sales…
A: WN-1 Computation of projected sales and operating expense Projected sales = 700 x (1+30%) = 700 x…
Use this problem to answer the following requirements: Mabuhay Corporation generated these gross profits during the past recent ears when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The decrease in gross profit due to decrease in selling price must be
Step by step
Solved in 2 steps
- Suppose the firm makes the change but its competitors react by making similar changes to their own credit terms, with the net result being that gross sales remain at the current 1,000,000 level. What would be the impact on the firms after-tax profitability?Mabuhay Corporation generated these gross profits during the past recent ears when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The change in gross profit due to change in cost price must be?Mabuhay Corporation generated these gross profits during the past recent ears when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The decrease in gross profit due to decrease in selling price must be * P216,000 P194,400 P172,800 P189,600
- Chungkuyla Corporation generated these gross profits during the past recent ears when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The decrease in gross profit due to decrease in selling price must be P216,000 P194,400 P172,800 P189,600Mabuhay Corporation generated these gross profits during the past recent ears when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The change in gross profit due to change in quantity sold must beMabuhay Corporation generated these gross profits during the past recent years when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The increase (decrease) in quantity sold must be * 13.33% 12.00% 13.64% (7.95%)
- Mabuhay Corporation generated these gross profits during the past recent ears when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The change in gross profit due to change in quantity sold must be * P151,896 UF P259,200 F P107,304 UF P107,304 FA Corporation generated these gross profits during the past recent years when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The decrease in gross profit due to decrease in selling price must be The change in gross profit due to change in quantity sold must be * P151,896 UF P259,200 F P107,304 UF P107,304 FMabuhay Corporationgenerated these gross profits during the past recent years when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The decrease in gross profit due to a decrease in selling price must be: The sales volume variance must be: The change in gross profit due to change in quantity sold must be: The change in gross profit due to change in cost price must be: The increase (decrease) in quantity sold must be:
- A Corporation generated these gross profits during the past recent years when the sales price was 10% lower during 2020 compared to 2019. 2020 Sales P1,944,000; 2020 Cost of Sales P1,152,000; 2019 Sales P1,900,800; 2019 Cost of Sales P1,113,600. The decrease in gross profit due to decrease in selling price must be * The sales volume variance must be * P259,200 UF P259,200 F P216,000 F P151,200U FPierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018 - P792,000. Cost of sales = 2019 - 480,000; 2018 - 464,000. Gross profit = 2019 - P330,000; 2018 - P328,000. Sales price was 10% lower during 2019. The percent of increase (decrease) in cost price must be: The owners would like to know what reasons caused the current performance of the company and ask your opinion. Through review of the complete records you were able to obtain this additional information: (1) The selling price for every unit is P7.20 during 2018 and; (2) The marketing department did a tremendous job and was able to increase sales units by 20% during 2019. The increase (decrease) in gross profit because of the change in sales price is: a. P900 b. P1,080 c. (P4,320) d. P15,480Pierce Corporation has the following gross profits for 2018 and 2019: Sales = 2019 - P810,000; 2018 - P792,000. Cost of sales = 2019 - 480,000; 2018 - 464,000. Gross profit = 2019 - P330,000; 2018 - P328,000. Sales price was 10% lower during 2019. The percent of increase (decrease) in cost price must be: The owners would like to know what reasons caused the current performance of the company and ask your opinion. Through review of the complete records you were able to obtain this additional information: (1) The selling price for every unit is P7.20 during 2018 and; (2) The marketing department did a tremendous job and was able to increase sales units by 20% during 2019. The increase (decrease) in gross profit because of the change in unit cost is: a. (P19,000) b. P10,800 c. (P10,800) d. P9,000