Response to the following :
1. Bartlow, Inc had the folling income statement for the month of May.
Sales Revenue 428,000
Cost of goods sold 205,440
Gross Margin 222,560
Less:
Selling Expenses 81,320
Administrative Expenses 72,760
Operating Income 68,480
What was the sales revenue percent?
1. 100%
2. 48%
3. 52%
4. 16%
2. Junko company makes typewriters. During the year Junko manufactured 97,000 typewriters. Finished goods Inventory had the following units on hand:
January 1 1,260
December 31 1,040
How many typewriters did Junko sell during the year?
1. 96,780
2. 97,220
3. 97,000
4. 98,260
3. In July, Econo company purchased materials costing 21,000 dollars and incurred direct labor costs of 18,000 dollars. Overhead totaled 32,000 dollars for the month. Information on the inventories was a follows:
July 1 July 31
Materials 6,200 7,100
Work in Process 700 1,200
Finished goods 3,300 2,700
What is the cost of direct materials used in July?
1. 21,000
2. 20,100
3. 21,900
4. 20,500
Show all work and calculations.