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Ignore the first picture please. Didn't read the question. Thank You. The following information is given to you relating to the operations of Princehall Corporation:
Ignore the first picture please. Didn't read the question. Thank You.
The following information is given to you relating to the operations of Princehall Corporation: The income tax rate is 40%. Net sales $11.862 Cost of sales Gross margin $ 3,541 Selling, general, and administrative expenses $ 2,743 Depreciation, amortization, and asset write-offs 278 Total operating expenses Income from operations Interest expense 91 Interest and other income Earnings before income taxes Income taxes 161 Net earnings Calculate the Gross Margin: Answer: Pretty Pillows, Mig, manufactures silk throw pillows, Last month the company produced 3,890 pillows. The following incurred the following costs: Production facility utilities, $1,600, Depreciation on production equipment, $650; Indirect materials, $400, Direct matorials, $5,300, Indirect labor, $1,000 Direct labor, $3,500 Sales commissions, $4,000, President's salary, $8,000, Insurance on production facility. S1.000; Advertising expense, $900, Rent on production facility, $6,000 Rent on sales office, $4,000, Legal expense, $600 WIP (beginning balance) $3,200 WIP (ending balance) $2,400 Calculate the cost of the pillows manufactured. Pretty Pillows, Mfg., manufactures silk throw pillows Last month the company produced 3,800 pillows. The following incurred the following costs Production facility Utilities, 51,600, Depreciation on production equipment, $650; Indirect materials, 3400: Direct materials, 35,300, Indirect labor, $1,000, Direct labor, $3,500; Sales commissions, 34,000; President's salary. $8,000; Insurance on production facility, $1,000, Advertising expense, 1900, Rent on production facility, 56,000 Rent on salos office, $4,000; Legal expense, $600. WIP (beginning balance) $3,200 WIP (ending balance) $2.400 Determine the PRIME COST of manufacturing the pillows Step by Step Solution
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