Answered step by step
Verified Expert Solution
Question
1 Approved Answer
pleaee help me with number 2. calculate the dillars if gross profit and the griss prifut oercebtage frin selking tags and cases PLEASE HELP ASAP!
pleaee help me with number 2. calculate the dillars if gross profit and the griss prifut oercebtage frin selking tags and cases
PLEASE HELP ASAP! YOU ROCK:))
FindMe Inc., (Fl) has developed a coin-sized tracking tag that attaches to key rings, wallets, and other items and can be prompted to emit a signal using a smartphone app. Fl sells these tags, as well as water-resistant cases for the tags, with terms FOB shipping point. Assume Fl has no inventory at the beginning of the month and it has outsourced the production of its tags and cases. Fl uses FIFO and has entered into the following transactions Jan. 2: FI purchased and received 240 tags fron Xioasi Manufacturing (XM) at a cost of $7 per tag. /15. Jan. 4: FI purchased and received se cases from Bachittar Products (BP) at a cost of $4 per case, n/20. Jan. 6: FI paid cash for the tags purchased from XM on Jan. 2. Jan. 8: FI mailed 148 tags via the U.S. Postal Service (USPS) to customers at a price of 532 per tag on account. Jan. 11: FI purchased and received 340 tags from XM at a cost of $10 per tag, n/15. Jan. 14: FI purchased and received 140 cases from BP at a cost of $5 per case, n/20. Jan. 16: FI paid cash for the cases purchased from BP on Jan. 4. Jan. 19: FI mailed lee cases via the USPS to customers at a price of $14 per case, on account. Jan. 21: FI mailed 240 tags to customers at a price of $32 per tag. 2. Calculate the dollars of gross profit and the gross profit percentage from selling tags and cases 3. Which product line yields more dollars of profit? 4. Which product line yields more profit per dollar of sales? Required 2 Required 3 Required 4 Calculate the dollars of gross profit and the gross profit percentage from selling tags and cases. (Round your "Gross Profit Percentage" answers to 2 decimal places.) Tags Cases Gross Profit Gross Profit Percentage w Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started