CourseLover

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About CourseLover

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Engineering,Health & Medical,HR Management,Law,Marketing,Math,Physics,Psychology,Programming,Science Hide all
Teaching Since: May 2017
Last Sign in: 287 Weeks Ago, 2 Days Ago
Questions Answered: 27237
Tutorials Posted: 27372

Education

  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

Experience

  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 20 Dec 2017 My Price 10.00

Labels and Amount Descriptions

Slapshot Company makes ice hockey sticks and sold 1,870 sticks during the month of June at a total cost of $467,500. Each stick sold at a price of $420. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price, and other selling expense of $63,600. Administrative expense totaled $53,500.

Labels and Amount Descriptions
Labels
Add
Less
For the Month of June
June
Selling expenses
Amount Descriptions
Administrative expenses
Commissions
Cost of goods manufactured
Cost of goods sold
Finished goods inventory
Fixed selling expenses
Gross margin
Operating income
Operating loss
Sales revenue

Total selling expenses
Income Statement
 
1       Percentage
2        
3        
4        
5        
6        
7        
8        
9        
10      

 

 

Slapshot Company makes ice hockey sticks and sold 1,870 sticks during the month of June at a total cost of $467,500. Each stick sold at a price of $420. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price, and other selling expense of $63,600. Administrative expense totaled $53,500.

Refer to the list below for the exact wording of a label or an amount description within your income statement.

Labels and Amount Descriptions

Labels
Add
Less
For the Month of June
June
Selling expenses
Amount Descriptions
Administrative expenses
Commissions
Cost of goods manufactured
Cost of goods sold
Finished goods inventory
Fixed selling expenses
Gross margin
Operating income
Operating loss
Sales revenue

Total selling expenses

 

 

 

Refer to the list below for the exact wording of a label or an amount description within your income statement.
Labels and Amount Descriptions
Labels Add Less For the Month of June June Selling expenses Amount Descriptions Administrative expenses Commissions Cost of goods manufactured Cost of goods sold Finished goods inventory Fixed selling expenses Gross margin Operating income Operating loss Sales revenue Total selling expenses

 

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.

 

Answers

CourseLover
(12)
Status NEW Posted 20 Dec 2017 03:12 PM My Price 10.00

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