Question
In: Accounting
Common size and trend percents for Rustynail Company s sales,cost of goods sold,and expenses follow. Common...
Common size and trend percents for Rustynail Company s
sales,cost of goods sold,and expenses follow. Common size percents.
2017 sales 100 % 2016 sales 100 %,2015 sales 100 %. Cost of goods
sold 2017. 63.1 . 2016 60.9. 2015. 57.4. Total expenses. 2017 ,
14.3 , 2016. 13.8. 2015. 14.1
Trend percents.
2017.
2016
2015
sales.
104.5%
103.3 % 100
cost of goods sold
114.9.
109.6. 100
total expenses. 106.1. 101.1. 100
Solutions
Expert Solution
| The following are the calculations of the Sales, Costs of Goods Sold and Total Expenses based on the trend percentage and the data of 2015: |
| Note: Assume 2015 sale $100 because auctul sale 2015 is missing |
| 2016 Sales = $100 x 103.3% = $103.3 |
| 2016 Cost of goods sold = $57.4x 109.6% = $62.9104 |
| 2016 Total expenses = $14.1x 101.1% = $14.2551 |
| 2017 Sales = $100 x 104.4% = $104.4 |
| 2017 Cost of goods sold = $57.4x 114.9% = $65.9526 |
| 2017 Total expenses = $14.1 x 106.1% = $14.9601 |
| Net Income for the following years are as follows: |
| 2017 | 2016 | 2015 | |
| Sales | 104.400 | 103.300 | 100.000 |
| Cost of goods sold | 65.953 | 62.910 | 57.400 |
| Total expenses | 14.960 | 14.255 | 14.100 |
| Net income | 23.487 | 26.135 | 28.500 |
ekkarill92 answered 2 years agoRelated Solutions
Common-size and trend percentages for a company’s net sales, cost of goods sold, and expenses follow:...
Common-size and trend percentages for a company’s net sales,
cost of goods sold, and expenses follow:
Common-Size Percentages
Trend Percentages
2017
2016
2015
2017
2016
2015
Net sales
100.0
%
100.0
%
100.0
%
108.1
%
106.5
%
100.0
%
Cost of goods
sold
57.9
54.8
51.6
115.9
112.0
100.0
Expenses
24.1
21.9
22.4
111.9
104.8
100.0
Required:
a. Calculate the profit percentage for 2015, 2016 and
2017. (Round the final answers to 2 decimal
places.)
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(Do not round your intermediate calculations. Enter your
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(Do not round your intermediate calculations. Enter your
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Solano Company has sales of $720,000, cost of goods sold of
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profit margin, and residual income. (Do not round your intermediate
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the nearest 2 decimal places, (i.e., 0.1234 should be entered as
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(Do not round your intermediate calculations. Enter your
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places, (i.e., 0.1234 should be entered as 12.34%). Round your
Investment Turnover answer to 4 decimal places.)...
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