Homework Answers
| 2019 | 2018 |
2017 |
|
| Sales | 100% | 100% | 100% |
| Cost of goods sold | 76% | 66.67% | 50% |
| Gross profit | 24% | 33.33% | 50% |
| Other expenses | 14% | 22.67% |
29.17% |
| Net income | 10% | 10.66% | 20.83% |
Under vertical analysis, all numbers are expressed as a percentage of sales
Cost of goods sold % has increased over the years and net income % has decreased
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Question 3.11 - Using the information provided
in the problem on page 145, calculate/answer the following:
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b. Sales growth percentage from 2015 to 2016.
c. Cost of goods sold percentage for 2014.
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The Daniels Tool & Die Corporation has been in existence for a
little over three years. The company’s sales have been increasing
each year as it builds a reputation. The company manufactures dies
to its customers’ specifications and therefore uses a job-order
cost system. Factory overhead is applied to the jobs based on
direct labour hours—the absorption-costing (full) method.
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