What was the amount of net sales

Assignment Help Cost Accounting
Reference no: EM13510663

For the fiscal year, sales were $4,125,800, sales discounts were $380,000, sales returns and allowances were $186,750, and the cost of merchandise sold was $2,475,500.

a. What was the amount of net sales?
b. What was the amount of gross profit?

 

Reference no: EM13510663

Questions Cloud

Relationships are expressed in the terms of collective agree : Introduction:In this assignment you will analyse collective bargaining relationships and document how these relationships are expressed in the terms of collective agreements
Determine the ratio of the periods : Two identical particles move under the influence of a central force, for which the potential energy function is V(r) = ? (k /r) (1 ? ?a/r), Determine the ratio of the periods
Why is the critical path not the shortest path : Why is the critical path not the shortest path through a network, as some people tend to believe?
Obtain the angle through which the blade has turned : A circular saw blade 0.180m in diameter starts from rest. Find the angular acceleration and the angle through which the blade has turned in this time
What was the amount of net sales : For the fiscal year, sales were $4,125,800, sales discounts were $380,000, sales returns and allowances were $186,750, and the cost of merchandise sold was $2,475,500.
Using one of the ethical perspectives : 1. Using one of the ethical perspectives (Utilitarianism, Kants Categorical Imperative, Rawl's Fairness as Justice, etc) noted in week 2 discussion, defend or oppose the basis for high executive compensation.
What was the amount of net sales and gross profit : For the fiscal year, sales were $3,570,000, sales discounts were $320,000, sales returns and allowances were $240,000, and the cost of merchandise sold was $2,142,000. What was the amount of net sales and gross profit?
How long will the projectile be in the air : A projectile is right at the edge of a 85 meter tall building . it is then fired with an initial speed of 25m/s at an angle 25 degrees above the horizontal and lands on the ground. how long will the projectile be in the air
What was the amount of net sales : For the fiscal year, sales were $6,750,000, sales discounts were $120,000. sales return and allowances were $900,000, and the cost of merchandise sold was $4,000,000.

Reviews

Write a Review

Cost Accounting Questions & Answers

  At what amount should schwartzkopf report the land

By appraisal, the fair value was estimated to be $500,000 for the land and $2,000,000 for the building. At what amount should Schwartzkopf report the land and the building at the end of the year?

  Compare and contrast the use of cost-volume-profit analysis

Your are an IT Project Proposal Manager. You have to sell your project to the senior funding management. You have been directed to use only 1 form of analysis to justify your costs.

  The following financial information relates to a suburban

the following financial information relates to a suburban retail business serendipity pty ltd that owns and operates a

  Financial analysis is the task of financial analyst

Financial analysis is the task of financial analyst and his role is to analyze whether the entity is solvent, stable, profitable or liquid enough to be invested in.

  What are the ways that customers affect a firms costs

What are some ways that customers affect a firm's costs and calculate the ratio of the prevention, appraisal, internal failure, and external failure costs to sales for March and April.

  Consider that you are preparing a seminar on

consider that you are preparing a seminar on cost-volume-profit analysis for non accountants.various potential

  Balance sheet for the bryan corporation

The balance sheet for the Bryan Corporation is shown below. Sales for the year were $3,680,000, with 75 percent of sales sold on credit and income statement for J. Lo Wedding Gowns, compute the following ratios:

  Mile high inc was formed in march 2011 to provide

mile high inc. was formed in march 2011 to provide prepackaged snack boxes for a new low cost regional airline

  Stable inventory policy for a company

What are the advantages and disadvantages of a stable inventory policy for a company that has greatly fluctuating sales during the year and what type of production process lends itself to process costing? Provide an example.

  Determine how to value investments

Determine how to value investments and how to report them based on that valuation. Write clearly and concisely about financial accounting using proper writing mechanics.

  Determine the contribution margin

Explain why the transfer prices based on actual costs are not appropriate as the basis for divisional performance measurement.

  Find cost relevant

Find cost relevant in deciding whether to move the manufacturing facility to a different location -  Brown Manufacturing Company

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd