Slapshot Company makes ice hockey sticks and sold 16,000 sticks during the month of June at a
Question:
Slapshot Company makes ice hockey sticks and sold 16,000 sticks during the month of June at a total cost of $485,000. Each stick sold at a price of $90. Slapshot also incurred two types of selling costs: commissions equal to 15 percent of the sales price, and other selling expense of $200,000. Administrative expense totaled $115,000.
Required:
Prepare an income statement for Slapshot for the month of June and calculate the percentage of sales revenue represented by each line of the income statement. Round answers to one decimal place.
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Slapshot Company Income Statement For the Month of June Percent Sales revenue 16000 90 1440...View the full answer
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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