Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Skiphandelen AS sells mostly ships. The store has classified its products across the categories; food, work clothes, tools and consumables. Last year, the company had

image text in transcribed

Skiphandelen AS sells mostly ships. The store has classified its products across the categories; food, work clothes, tools and consumables. Last year, the company had the following information on purchases and sales for these categories: Fixed costs: NOK 11,800,000 The fixed costs included, among other things, salaries and social costs for employees, rent, energy and public taxes. Until now, the item has been priced somewhat randomly by the store manager continuously when purchasing new items. Going forward, the company wishes to standardize the pricing according to the above categories, so that all store employees can price new items when they have been purchased. You also receive the following information about items that have recently been purchased: a) Calculate profit rates for the product categories based on last year's sales. b) Calculate the company's total profit in NOK and percentage from last year. c) Calculate the company's total contribution margin and result from last year. d) Find retail price of the recently purchased products. Skiphandelen AS sells mostly ships. The store has classified its products across the categories; food, work clothes, tools and consumables. Last year, the company had the following information on purchases and sales for these categories: Fixed costs: NOK 11,800,000 The fixed costs included, among other things, salaries and social costs for employees, rent, energy and public taxes. Until now, the item has been priced somewhat randomly by the store manager continuously when purchasing new items. Going forward, the company wishes to standardize the pricing according to the above categories, so that all store employees can price new items when they have been purchased. You also receive the following information about items that have recently been purchased: a) Calculate profit rates for the product categories based on last year's sales. b) Calculate the company's total profit in NOK and percentage from last year. c) Calculate the company's total contribution margin and result from last year. d) Find retail price of the recently purchased products

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions