Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.)
GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31
Current Year Prior Year
Sales $740,000 $625,000
Cost of goods sold 560,300 290,800
Gross profit 179,700 334,200
Operating expenses 128,200 218,500
Net income $51,500 $115,700
Required:
Using the common-size percentages, which item is most responsible for the decline in net income?
Answers: 2
Business, 22.06.2019 15:30, graciemccain
On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.
Answers: 3
Business, 22.06.2019 18:10, zaratayyibah
Ashop owner uses a reorder point approach to restocking a certain raw material. lead time is six days. usage of the material during lead time is normally distributed with a mean of 42 pounds and a standard deviation of four pounds. when should the raw material be reordered if the acceptable risk of a stockout is 3 percent?
Answers: 1
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