Question: PLEASE HELP ME ANSWER THE HIGHLIGHTED BASED ON THE INCOME STATEMENT GRAPH. Milestone Three - Income Statement Revenue: Collars 5 13,440 Leashes 11,960 Harnesses 13,200

PLEASE HELP ME ANSWER THE HIGHLIGHTED BASED ON THE INCOME STATEMENT GRAPH.

Milestone Three - Income Statement Revenue: Collars 5 13,440 Leashes 11,960 Harnesses 13,200 Total Revenue: $ 38,600 Cost of goods sold 28,258 Gross prot $ 10,342 Expenses: General and administrative salaries 3 1,950 Office supplies 200 Other business equipment 150 Total Expenses $ 2,300.00 Net Incom e/ Loss 5 8,042.00 [Based on your income statement, logically interpret the business's performance against the provided benchmarks. Did the company do as well as expected? Explain what happened]

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Milestone Three - Income Statement Revenue: Collars Leashes Harnesses 0 Total Revenue: 1 Cost of goods sold 2 Gross profit 3 4 Expenses: 5 General and administrative salaries 1,950 .6 Office supplies...

Based on this income statement, evaluate the businesss performance against the benchmarks.Did the business do as well as expected? Explain what happened. Revenue: Collars $ 12,880 10,800 Leashes...

hello, can you please help me answer the questions attached. Attached is the case merger and sample write-up. Its be in Times New Roman 12-point font, double-spaced and 4 pages. Any supporting...

Attached is the assignment requirement and 2 previous assignments as example 1- the assignment should be zero plagiarism and similarity (no copy ans paste is accepted) 2- should be completed in the...

Question 5 (1 point) At the farmer's market in Irvine, California, the price of avocados is set at $3 each. At that price, 120 avocados are supplied but only 100 are purchased. Represent this on a...

Currently completing my final project for managerial accounting. Slide 11 asks: [Compare the actual cost of goods sold over the last month and evaluate the company's performance against the budgeted...

You plan to open a small business for manufacturing pet collars, leashes, and harnesses. You have found a workshop space you can use for sewing your products. After some research and planning, you...

help please ACC 202 Milestone One: Operational Costs Data Appendix You plan to open a small business for manufacturing pet collars, leashes, and harnesses. You have found a workshop space you can use...

Im wondering if you can help me please. I am getting confused I have enclosed all the information I have been provided. I can't seem to work out the variance analysis snhu ACC 202 Milestone One:...

A B D O 0 6 Beginning Work in Process Inventory 7 Direct Materials: 8 Materials: Beginning 9 Add: Purchases for month of January 11 Materials available for use 12 Deduct: Ending materials 14...

Nate owns the following property: A personal residence titled fee simple valued at $500,000. A $500,000 life insurance policy on his own life. The named beneficiary is Nate's brother Jaime. A car...

Yosko expects to produce 1,950 units in January and 2,114 units in February. The company budgets $85 per unit for direct materials. Indirect materials are insignifi cant and not considered for...

Ted Company is considering an irvestment of $ 5 4 , 0 0 0 that provides net cash flows of $ 1 8 , 0 0 0 annually for four years. The mestmercs papock period se 2 0 yens True or Fabse

Question 1 5 Solving organizational problems and meeting assigned challenges are part of the stage of team development. storming adjourning norming performing

5.72 Shirley Johnson, portfolio manager, has asked you to analyze a newly acquired portfolio to determine its mean value and variability. The portfolio consists of 50 shares of Xylophone Music and 40...

5.75 You have been asked to determine the probability that the contribution margin for a particular product line exceeds the fixed cost of $2,000. The total number of units sold is a normally...

5.77 A consultant knows that it will cost him $10,000 to fulfill a particular contract. The contract is to be put out for bids, and he believes that the lowest bid, excluding his own, can be...