Variable cost in 2017 = Sales revenue*Variable cost per Sales Dollar
= 6,423,000*0.25
= $1,605,750
Fixed cost = Total cost - variable cost
= 2,136,000-1,605,750
= $530,250
10 points Save Answer Use Only the 2017 and 2018 financial data below to estimate the...
Use Only the 2017 and 2018 financial data below to estimate the FIXED COST to Variable cost ratio for of goods sold IN 2017. Round to the NEAR whole penny. Use the Hi-Low Method but assume the estimated variable cost is $0.25 per sales dollar. Year 2016 2017 2018 Total Revenue 5,354,000 6,423,000 7,424,000 Cost of Revenue 2,460,000 2,136,000 2,265,000 Gross Profit 2,894,000 4,287,000 5,159,000 Selling General and Administrative 410,000 395,000 431,000 Total Operating Expenses 3,017,000 2,948,000 3,184,000
Use Only the 2017 and 2018 financial data below to estimate the FIXED COST to Variable cost ratio for Selling and Administrative Expenses in 2018. Round to the third decimal place. Use the Hi-Low Method but assume the estimated variable SGA cost is $0.09 per sales dollar. Year 2016 2017 2018 Total Revenue 5,354,000 6,423,000 7,424,000 Cost of Revenue 2,460,000 2,136,000 2,265,000 Gross Profit 2,894,000 4,287,000 5,159,000 Selling General and Administrative 410,000 395,000 431,000 Total Operating Expenses 3,017,000 2,948,000 3,184,000
Use Only the 2017 and 2018 financial data below to compute (properly) the Total variable Selling and Administrative Costs in 2018. Round to Nearest whole dollar. Use the Hi-Low Method. Year 2016 2017 2018 Total Revenue 5,354,000 6,423,000 7,424,000 Cost of Revenue 2,460,000 2,136,000 2,265,000 Gross Profit 2,894,000 4,287,000 5,159,000 Selling General and Administrative 410,000 395,000 431,000 Total Operating Expenses 3,017,000 2,948,000 3,184,000
Balance sheet. Use the data from the financial statements of a company shown below. Use it to answer the 7 questions that follow it. When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar. Income Statement year...
E22-9 (し02.3) (Change in Estimate and Error; Financial Statements) Presented below are the comparative income and retained earnings statements for Denise Habbe Inc. for the years 2017 and 2018 2018 $340,000 200,000 140,000 88,000 $ 52,000 2017 $270,000 142,000 128,000 50,000 $78,000 $ 72,000 78,000 (25,000) $125,000 Sales Cost of sales Gross profit Expenses Net income Retained earnings (Jan. 1) Net income Dividends $125,000 52,000 (30,000) $147,000 Retained earnings (Dec. 31) The following additional information is provided 1. In 2018,...
Financial Indicators/Ratios 2018 2017 Current ratio ? 2.92 : 1 Acid test ratio ? 1.28 : 1 Debtors collection period ? 16 days Creditors payment period ? 27 days Inventory turnover rate ? 24 times/year Gross profit percentage ? 35% Net profit percentage ? 10,29% Return on equity ? 210,53% Debt equity ratio ? 0.74 Catwalksale (Pty) Ltd Extract from the statement of profit or loss and other comprehensive income for the year ending 31 December 2018: 2018 2017 Revenue...
USE THE FOLLOWING DATA TO ANSWER QUESTIONS 35 – 40 Annual Income Statements 2017 2018 Sales 525,800 559,700 COGS ???? 149,600 Gross profit 381,000 410,100 Oper. exp 236,100 250,100 Depreciation 15,000 16,160 Operating profit 129,900 143,840 Interest exp. 9,500 10,600 EBT 120,400 133,240 Taxes 34,910 42,880 Net Income 85,490 90,360 Annual Balance Sheets 2017 2018 Cash 440,200 468,600 Accounts rec 278,400 252,300 Inventories 293,500 315,700 Current Assets 1,012,100 1,036,600 Net fixed assets 1,125,000 ??? Land 100,200 120,600 Total Assets 2,237,300...
Use the financial statements of a company to answer the 4 questions that follow it. When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign in front of first digit for negative numbers. Round to the nearest dollar. For example, if you obtain $200,436.75 then enter in the box: 200,437 Income Statement year ending 2016 Sales Revenues $90,000 Cost of...
Use the financial statements of a company to answer the 4 questions that follow it. When answering the questions (filling in the blanks), DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign in front of first digit for negative numbers. Round to the nearest dollar. For example, if you obtain $200,436.75 then enter in the box: 200,437 Income Statement year ending 2016 Sales Revenues Cost of goods...
Please answer question number 4 using the information
given
Below are the financial statements of a public company for the last three years. Income statement Total Revenue Cost of Revenue Gross Profit Selling General and Administrative EBITDA Depreciation and Amortization Earnings Before Interest and Taxes Interest Expense Income Before Tax Income Tax Expense Net Income 2018 2017 2016 65,299,000 70,749,000 74,401,000 32,909,000 37,056,000 39.030,000 32,390,000 33,693,000 35,371,000 18,949,000 22,644,000 21,461,000 13,441,000 11,049,000 13,910,000 507,000 308,000 12,934,000 10,460,000 13,602,000 579,000 626,000...