The accounting results for a month show food sales of $600,000 and cost of food sold at $197,000. Compute the food cost percentage for the month.
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- The accounting results for a month show food sales of $600,000 and cost of food sold at $197,000. Compute the food cost percentage for the month.
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- Total cost of food sold expense was recorded as $47,250 on the income statement. The food inventory account had a beginning balance of $5,500 and an ending balance of $4,000. How much cash was disbursed for food purchases during the year?Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?Logo Gear purchased $2,250 worth of merchandise during the month, and its monthly income statement shows cost of goods sold of $2,000. What was the beginning inventory if the ending inventory was $1,000?
- Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?Marzons records show raw materials Inventory had a beginning balance of $200 and an ending balance of $300. If the cost of materials used during the month was $900, what were the purchases made during the month?In the month of July, a convenience store had total sales of $118,000 from its gas pumps and other in-store products. If HST is 17% of sales, how much HST was collected on the in-store products if these sales represent 31% of total sales? (Round your answer to 2 decimal places.) HST collected on in-store products
- Klum's Fashions sold merchandise for $45,000 cash during the month of July. Returns that month totaled $1,000. If the company's gross profit rate is 40%, Compute the following: a) Net sales revenue b) Cost of goods soldA company reported the following information for the month of July: Net sales $ 57,500 Cost of goods sold 33,200 Required: Calculate this company's gross margin ratio.A store had monthly utility expense of $12,378. Determine the share for Department 1 (rounded to the nearest dollar), based on floor space for each department as follows: Dept 1: 23,000 sq ft Dept 2: 37,000 sq ft Dept 3: 27,000 sq ft Dept 4: 14,000 sq ft
- In the month of July, a convenience store had total sales of $102, 300 from its gas pumps and other in-store products. If HST is 13% of sales, how much HST was collected on the in-store products if these sales represent 36% of total sales?A car salesperson had $85,460 in total monthly sales in September and $74,570 in October. The salesperson earned a total of $3,485 in commission from those sales combined. What is the salesperson's commission as a percent of the total monthly sales? Enter your answer, rounded to the nearest tenth of a percent, in the box. %If a company has a total of $358,241 in food inventory at the beginning of the month, purchases $445,101 of goods during the month and has $627,333 remaining at the end of the month, what is their cost of food sold? There were no departmental transfer or other credits during the month.