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FindMe Incorporated, ( FI ) has developed a coin - sized tracking tag that attaches to key rings, wallets, and other items and can be
FindMe Incorporated, FI has developed a coinsized tracking tag that attaches to key rings, wallets, and other items and can be prompted to emit a signal using a smartphone app. FI sells these tags, as well as waterresistant cases for the tags, with terms FOB shipping point. Assume FI has no inventory at the beginning of the month, and it has outsourced the production of its tags and cases. FI uses FIFO and has entered into the following transactions:
January FI purchased and received tags from Xioasi Manufacturing XM at a cost of $ per tag, n
January FI purchased and received cases from Bachittar Products BP at a cost of $ per case, n
January FI paid cash for the tags purchased from XM on January
January FI mailed tags via the US Postal Service USPS to customers at a price of $ per tag, on account.
January FI purchased and received tags from XM at a cost of $ per tag, n
January FI purchased and received cases from BP at a cost of $ per case, n
January FI paid cash for the cases purchased from BP on January
January FI mailed cases via the USPS to customers at a price of $ per case, on account.
January FI mailed tags to customers at a price of $ per tag, on account.
Calculate the dollars of gross profit and the gross profit percentage from selling tags and cases.
Which product line yields more dollars of gross profit?
Which product line yields more gross profit per dollar of sales?
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