From the following information find out the requirements:
Beginning Merchandise Inventory $20,000
Sales commission $ 5,890
Direct wage $ 1, 00,000
Other direct Expenses $10% of direct wage
Factory Rent $ 11,000
Factory Building depreciation $ 20,000
Office managers salary $ 18,000
Advertising $ 5,900
Purchase discount $800
Supplies $2,800
Sales discount $2,500
Sales [?]
Closing Merchandise Inventory $15,000
Merchandise purchased $ 1, 10,000
Purchase returns $ 15,000
Purchase allowance $5,000
Freight in $ 11,000
Freight out $15,000

Requirements (Calculate any five [* (v)profit calculation is must for everyone]) 
(i) Prime cost 

(II) Conversion cost 

(iii)Product cost /manufacturing cost

(iv)Cost of sales
(v) Net sales and profit (assuming 16%) in %
(vi) Raw material consumed
** take 16%. for profit calculation and find your % of profit margin ?**

Answer rating: 100% (QA)

INCOME STATEMENT Particulars Amount Amount Amount Sales 352250 Sales discount 2500 Net Sales 349750 ... View the full answer