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Author Question: The following financial statement items are shown for J&T Manufacturing.Net sales$840,000Cost of ... (Read 51 times)

lingual

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Question 1

The following financial statement items are shown for J&T Manufacturing.

Net sales$840,000
Cost of goods sold360,000
Insurance expense28,000
Total operating expenses120,000
Net income56,000
Calculate the common-size percentage for gross margin.
◦ 57.1%
◦ 0.8%
◦ 42.8%
◦ 11.6%

Question 2

The following financial statement items are shown for J&T Manufacturing.

Net sales$840,000
Cost of goods sold360,000
Insurance expense28,000
Total operating expenses120,000
Net income56,000
Calculate the common-size percentage for insurance expense.
◦ 3.3%
◦ 50.0%
◦ 23.3%
◦ 5.8%


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Marked as best answer by lingual on Feb 5, 2023

xinyifff

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lingual

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Reply 2 on: Feb 5, 2023
Excellent


atrochim

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Reply 3 on: Yesterday
Wow, this really help

 

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