The following information was drawn from the accounting records of Ashton Company. Budgeted $ 8,000 (4,200) 3,800 Actual Sales $10,200 Cost of Goods Sold (5,400) Gross Margin 4,800 Variable Cost (1,600) (2,100) Fixed Cost (1,700) (1,300) Net Income 500 $ 1,400 Based on this information Ashton Company has a
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- Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31, 2016, from the following estimates. Inventories of production units: Direct materials purchased during the year, 548,000; beginning inventory of direct materials, 36,000; and ending inventory of direct materials, 23,000. Totals from other budgets included:Presented below is information for Chivu Company for the month of March 2020 Cost of goods sold S50,000 Salaries and wages Expense s8,000 Freight-out 7,000 Sales Revenue is0,000 Interest Expense Sales Returns and Allowances 4,000 3,000 Required: Prepare a multiple-step income statement for the month of March by completing the following Salaries and wages Expense Operating Expense Total Operating ExpensePresented below is information for Chivu Company for the month of March 2020: Cost of goods sold s50,000 Salaries and wages Expense S8,000 Sales Revenue Freight-out 7.000 as0,000 Sales Returns and Allowances interest Expense 4,000 3,000 Required: Prepare a multiple-step income statement for the month of March by completing the following Salaries and wages Expense Operating Expense Total Operating Expense
- Blossom Manufacturing Ltd. had sales for January 2022 of $1,025,000. The units sold were 20.500, and the expenses for January 2022 were as follows: Cost of goods sold Selling expenses Administrative expenses Show Transcribed Text Variable $207.050 56.375 29,725 Fixed $123,000 28,700 35,875 10 C Blossom Manufacturing Inc. CVP Income Statement Total Per unitWright & Boyle Inc. had the following income statement for the month of May: Sales revenue $470,800.00 Cost of goods sold 217,766.40 Gross margin $253,033.60 Less: Selling expenses 86,199.20 Administrative expenses 74,942.80 Operating income $91,891.60 What was the selling expense percent?Using the information below, calculate gross profit for the period. Sales $1,264,000 Selling expenses 235,000 Finished Goods Inventory, beginning 35,600 Finished Goods Inventory, ending 40,600 Cost of goods manufactured 520,000 $749,000. $515,000. $754,000. $432,800. $510,000.
- Using the financial information is presented below: Operating Expenses $ 55,000 Sales Returns and Allowances 13,000 Sales Discount 6,000 Sales 160,000 Costs of Goods Sold 77,000 The gross profit rate would be:The information provided below was taken from the records of Chotoo Projects for the financialyear ended 31 May 2020.Extract of statement of comprehensive income for the year ended 31 May 2020RRevenue 480 000Direct costs 240 000Rent income 150 000Advertising 4 800Salaries and wages 90 000Rates and taxes 1 200Other operating expenses 80 000Additional information1. Revenue is calculated as direct cost plus 25%.2. Revenue is divided equally each month. Revenue is expected to increase by 18% for thefinancial year ending 31 May 2021.POSTGRADUATE DIPLOMA IN PROJECT MANAGEMENT – ACADEMIC AND ASSESSMENT CALENDARREGENT BUSINESS SCHOOL (RBS) January 2021 173. Fifty percent (50%) of the revenue is for cash and the balance is on credit. Debtorsnormally pay their accounts as follows:• 40% in the month of the invoice, and these debtors are entitled toa 5% discount;• 55% one month after the invoice;The balance is usually written off as bad debts.4. Purchases for June and July are expected to be 30…Financial information is presented below: Operating expenses $ 42,000 Sales returns and allowances 12,000 Sales discounts 3,000 Sales revenue 165,000 Cost of goods sold 96,000 The amount of pretax income on the income statement would be
- Using the data below for the Ace Guitar Company: Sales Cost of goods sold Selling expenses Support department expenses: Purchasing Payroll accounting A Region A Region Operating Income B Region Operating Income $544,000 206,700 130,600 B Region $ $816,000 310,100 195,800 Allocate support department expenses proportional to the sales of each region. Determine the divisional operating income for the A and B regions. For interim calculations, round percentages to two decimal places and all other amounts to the nearest whole dollar. $228,500 152,300The following data have been taken from the records of a company: Production in units during 2011 200,000 Units sold during 2011 190,000 Selling Price per unit P 15.00 Standard Variable Costs per unit Material and Labor P 8.00 Indirect Manufacturing Costs 2.00 Selling and Administrative expenses 1.00 Fixed Costs budgeting for the year Indirect Manufacturing Costs P 400,000 Selling & Administrative Expenses P 300,000 Required: A. Determine the income (loss) before income taxes for the year 2011 under Absorption Costing?Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: $ 300,000 $ Sales Beginning merchandise inventory 20,000 $ 200,000 $ $ $ Purchases Ending merchandise inventory Fixed selling expense Fixed administrative expense Variable selling expense Variable administrative expense Contribution margin Net operating income 7,000 ? 12,000 $ 15,000 $ 60,000 $ 18,000 Required: 1. Prepare a contribution format income statement.