Determine the percentage of net sales that is available to cover operating expenses other than cost of goods sold
Required Information The following information applies to the questions displayed below] a. On October 1, the Business Students' Society (BSS) placed an order for 210 golf shirts at a unit cost of $30, under terms 2/10, /30. b The order was received on October 10, but some golf shirts differed from what had been ordered. Uncertain whether would be returned or kept, BSS decided to record any purchase discount only when taken (using the gros method) c On October 11, 60 golf shirts were returned to the supplier. d On October 12, BSS complained the remaining golf shirts were slightly defective so the supplier granted a $200 allowance. e BSS paid for the golf shirts on October 13. t During the first week of October, BSS received student and faculty orders for 190 golf shirts, at a unit price of $71, on terms 2/10, n/30. ber 18. Unfortunately, customers wer g The golf shirts were delvered to these customers on Octo h Uncertain whether customers would keep or return the shirts, BSs decided to record any sales discount only when unhappy with the golf shirts, so BSS permitted them to be returned or given an allowance (see h and taken (using the gross method). L On October 19, one-half of the golf shirts were returned by customers to BSS. j On October 20, an allowance was given on account equal to 2300 per s t for the remaining 95 shirts k. The customers paid their remaining balances on the last day of the month, October 31 2. Determine the percentage of net sales that is available to cover operating expenses other than cost of goods sold. (Round your answer to 1 decimal place.) Profit Required Information The following information applies to the questions displayed below] a. On October 1, the Business Students' Society (BSS) placed an order for 210 golf shirts at a unit cost of $30, under terms 2/10, /30. b The order was received on October 10, but some golf shirts differed from what had been ordered. Uncertain whether would be returned or kept, BSS decided to record any purchase discount only when taken (using the gros method) c On October 11, 60 golf shirts were returned to the supplier. d On October 12, BSS complained the remaining golf shirts were slightly defective so the supplier granted a $200 allowance. e BSS paid for the golf shirts on October 13. t During the first week of October, BSS received student and faculty orders for 190 golf shirts, at a unit price of $71, on terms 2/10, n/30. ber 18. Unfortunately, customers wer g The golf shirts were delvered to these customers on Octo h Uncertain whether customers would keep or return the shirts, BSs decided to record any sales discount only when unhappy with the golf shirts, so BSS permitted them to be returned or given an allowance (see h and taken (using the gross method). L On October 19, one-half of the golf shirts were returned by customers to BSS. j On October 20, an allowance was given on account equal to 2300 per s t for the remaining 95 shirts k. The customers paid their remaining balances on the last day of the month, October 31 2. Determine the percentage of net sales that is available to cover operating expenses other than cost of goods sold. (Round your answer to 1 decimal place.) Profit
