Use the following to answer questions 30 – 35 Find the missing amounts: Case 1 C
ID: 2541702 • Letter: U
Question
Use the following to answer questions 30 – 35
Find the missing amounts:
Case 1
Case 2
Case 3
Net Sales
$685,400
$777,200
?
COGS
?
446,300
557,440
Gross profit
227,800
?
366,950
Operating expense
198,500
278,500
?
Operating income
?
?
78,960
30. $____________For case 1, determine cost of goods sold
31. $____________For case 1, determine operating income (include “-“ if needed)
32. $____________For case 2, determine gross profit
33. $____________For case 2, determine operating income (include “-“ if needed)
34. $____________For case 3, determine net sales
35. $____________For case 3, determine operating expense
Case 1
Case 2
Case 3
Net Sales
$685,400
$777,200
?
COGS
?
446,300
557,440
Gross profit
227,800
?
366,950
Operating expense
198,500
278,500
?
Operating income
?
?
78,960
Explanation / Answer
Answer:-
Answer:-30)- For case 1,cost of goods sold=$457600
31)- For case 1, operating income=$29300
32)- For case 2, gross profit=$330900
33)- For case 2, operating income=$52400
34)- For case 3, net sales=$924350
35)- For case 3, operating expense=$287990
Explanation:-
Particulars Case 1 Case 2 Case 3 $ $ $ Net Sales 685400 777200 557400+366950=924350 Less:- COGS 685400-227800=457600 446300 557400 Gross profit 227800 777200-446300=330900 366950 Less:-Opreating expenses 198500 278500 366950-78960=287990 Opreating Income 227800-198500 =29300 330900-278500=52400 78960Related Questions
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