Company CAB reported the following information on its first quarter income statement for a particular year:...

 

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Company CAB reported the following information on its first quarter income statement for a particular year: net sales, P171,200.00; cost of goods sold, P67,000.00; and operating expenses, P21,340.00. Find the net come/profit for its first quarter operation for the said year. 2. Prepare an income statement for DME Merchandise for its first quarter operation of the current year based on the information provided below. Find the net profit or net loss of DME Merchandise. Sales Sales Returns and Allowances Sales Discounts Beginning Inventory Ending Inventory Purchases Purchase Discounts Salaries Utilities Rentals Depreciation Supplies Miscellaneous Expenses P3,500,000.00 104,200.00 100,400.00 125,000.00 178,000.00 1,057,400.00 54,400.00 518,200.00 22,000.00 180,000.00 14,000.00 20,000.00 36,000.00 1. FQS Enterprise's income statements indicated that its operating expenses for the past two years decreased from P198,200 to P179,400. Find the amount and percent (6) decrease in its operating expenses for the two statement periods. 2. EGT Corporation suffered a decrease of 4.8% in gross sales during the past two years. If the gross sales in the previous year was P1,872,455, what was its gross sales in the latter year? III. Breakeven Analysis (5 pts each) 1. Determine the break-even point in number of units and the amount of sales if the unit price of a certain commodity is P35.00, variable cost is P15.00, and total fixed cost is P20,000.00. 2. BMZ Corporation sells a hardware item at P345 each. Manufacturing and variable costs per unit amount to 60% of the unit selling price. The total fixed costs are P483,000. Find the break-even point in the number of units to be sold and the amount in sales. Company CAB reported the following information on its first quarter income statement for a particular year: net sales, P171,200.00; cost of goods sold, P67,000.00; and operating expenses, P21,340.00. Find the net come/profit for its first quarter operation for the said year. 2. Prepare an income statement for DME Merchandise for its first quarter operation of the current year based on the information provided below. Find the net profit or net loss of DME Merchandise. Sales Sales Returns and Allowances Sales Discounts Beginning Inventory Ending Inventory Purchases Purchase Discounts Salaries Utilities Rentals Depreciation Supplies Miscellaneous Expenses P3,500,000.00 104,200.00 100,400.00 125,000.00 178,000.00 1,057,400.00 54,400.00 518,200.00 22,000.00 180,000.00 14,000.00 20,000.00 36,000.00 1. FQS Enterprise's income statements indicated that its operating expenses for the past two years decreased from P198,200 to P179,400. Find the amount and percent (6) decrease in its operating expenses for the two statement periods. 2. EGT Corporation suffered a decrease of 4.8% in gross sales during the past two years. If the gross sales in the previous year was P1,872,455, what was its gross sales in the latter year? III. Breakeven Analysis (5 pts each) 1. Determine the break-even point in number of units and the amount of sales if the unit price of a certain commodity is P35.00, variable cost is P15.00, and total fixed cost is P20,000.00. 2. BMZ Corporation sells a hardware item at P345 each. Manufacturing and variable costs per unit amount to 60% of the unit selling price. The total fixed costs are P483,000. Find the break-even point in the number of units to be sold and the amount in sales.

Answer rating: 100% (QA)

Problem 1 For Company CABs first quarter income statement Net Sales P17120000 Cost of Goods Sold P6700000 Operating Expenses P2134000 Net Income Profi... View the full answer