Year 1 Year 2 YR 1 YR2 Sales (S) $ 614,405.00 $ 600,343.00 Cost of Good Sold (COGS) $ 385,101.00 $ 473,396.00 Gross Profit (GP) $ 229,304.00 $ 226,947.00 Calculate the following: (round to nearest percent) Answer Answer (a) Mark-up percent for year 1 (b) Mark-up percent for year 2 (c) Gross Profit for year 1 (d) Gross Profit for year 2

Year 1 Year 2 YR 1 YR2 Sales (S) $ 614,405.00 $ 600,343.00 Cost of Good Sold (COGS) $ 385,101.00 $ 473,396.00 Gross Profit (GP) $ 229,304.00 $ 226,947.00 Calculate the following: (round to nearest percent) Answer Answer (a) Mark-up percent for year 1 (b) Mark-up percent for year 2 (c) Gross Profit for year 1 (d) Gross Profit for year 2

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter4: Accounting For Retail Operations

Section: Chapter Questions

Problem 4.7.1MBA: Gross profit percent and markup percent Deere & Company (DE) produces and sells tractors, loaders,...

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Gross profit percent and markup percent Deere & Company (DE) produces and sells tractors, loaders, combines, lawnmowers, and a variety of other equipment. The following data (in millions) were adapted from recent financial statements of Deere. Compute the gross profit percent for Years 1 and 2. Round to one decimal place.
Gross profit percent and markup percent Caterpillar Inc. (CAT) produces and sells various types of equipment. including tractors, loaders, and mining equipment. The following data (in millions) were adapted from recent financial statements of Caterpillar. Compute the average markup percent for Years 1 and 2. Round to one decimal place.
Gross profit percent and markup percent Caterpillar Inc. (CAT) produces and sells various types of equipment. including tractors, loaders, and mining equipment. The following data (in millions) were adapted from recent financial statements of Caterpillar. Compute the gross profit percent for Years 1 and 2. Round to one decimal place.
Return on assets The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR): The percent a company adds to its cost of sales to determine selling price is called a markup. What is Tootsie Roll’s markup percent? Round to one decimal place.
Gross profit percent and markup percent Deere & Company (DE) produces and sells tractors, loaders, combines, lawnmowers, and a variety of other equipment. The following data (in millions) were adapted from recent financial statements of Deere. Compare the results in parts (1) and (2) for ‘tears 1 and 2. Comment on your comparison.
Gross margin percent and markup percent Target Corp. (TGT) operates retail stores throughout the United States and is a major competitor of Wal-Mart. The following data (in millions) were adapted from recent financial statements of Target. Compute the average markup percent for Years 1 and 2. Round to one decimal place.
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5. Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales $500,000 $440,000 Cost of goods sold 325,000 242,000 Selling expenses 70,000 79,200 Administrative expenses 75,000 70,400 Income tax expense 10,500 16,400 Required: a. Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent. ... b. Complete the following regarding the significant changes disclosed by the comparative income statement. The vertical analysis indicates that the cost of goods sold as a percent of sales (increased/decreased) between the two years. Selling and administrative expenses as a percentage of sales (increased/decreased) and income tax expense (increased/decreased). Overall, net income as a percent of sales (increased/decreased).
Question A24 Triango have achieved a gross profit margin of 40% for the year ended 31 Dec 2020 Cost of sales was £312,000 and the gross profit figure was £208,000. What was the sales revenue for the year?
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a companys sales in year 1 350,000 and in year 2 387,500 using year 1 as the base year the percent charge for year 2 compared to the base year is 100% 12% 11% 10% 90%
1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Round to one decimal place. Enter all amounts as positive numbers. Fielder Industries Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Sales $1,300,000 fill in the blank bcf5f3fbd02f054_1% $1,180,000 fill in the blank bcf5f3fbd02f054_2% Cost of goods sold 682,500 fill in the blank bcf5f3fbd02f054_3% 613,600 fill in the blank bcf5f3fbd02f054_4% Gross profit $617,500 fill in the blank bcf5f3fbd02f054_5% $566,400 fill in the blank bcf5f3fbd02f054_6% Selling expenses $260,000 fill in the blank bcf5f3fbd02f054_7% $188,800 fill in the blank bcf5f3fbd02f054_8% Administrative expenses 169,000 fill in the blank bcf5f3fbd02f054_9% 177,000 fill in the blank bcf5f3fbd02f054_10% Total operating expenses $429,000 fill in the blank…