Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 05 Oct 2017 My Price 7.00

OPERATING INCOME

Problem 5 (LO 2/3) INCOME STATEMENT WITH DEPARTMENTAL OPERATING INCOME AND TOTAL OPERATING INCOME

 

Bill Hickock owns a business called Wild West Wear. He has divided his business into two departments: boots and accessories.  The information provided below is for the fiscal year ended June 30, 20--.

 

 

 

 

Net sales

Boots

$550,200

Accessories

$257,000

Cost of goods sold

247,600

141,400

Wages expense

107,000

50,800

Advertising expense

43,200

15,700

Other operating expenses

49,000

26,000

 

 

 

Required:

 

1.        Prepare an income statement showing departmental operating income and total operating income.

 

2.        Calculate departmental operating expense and operating income percentages. 1.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boots

Accessories

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Answers

(5)
Status NEW Posted 05 Oct 2017 02:10 PM My Price 7.00

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