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3 years ago

Compute the missing amounts.

Business

1 answer:

aev [14]3 years ago

3 0

Answer:

King Company Queen Company

Sales Revenue $56,000 $117,000

(112000+5000)

Sales Returns & Allowance $6,000 $5,000

(56000-50000)

Net Sales $50,000 $112,000

COGS $33,000 $80,000

Gross Profit $17,000 $32,000

(50000-33000)

Operating Expenses $12,000 $18,000

Net Income $5,000 $14,000

Profit Margin % = [Net Income / Net Sales]

King Company = 5,000/ 50,000* 100 = 10.00%

Queen Company = 14,000 / 112,000 * 100 = 12.50%

Gross Profit Rate % = [Gross Profit / Net Sales]

King Company = 17,000 / 60,000 = 34.00%

Queen Company = 32,000 / 112,000 = 28.57%

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