Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Hardware Department of HD&L Products shows net sale of $3,500,000 cost of goods sold of $1,780,000 and operating expenses of $1,400,000. The Paint Department

The Hardware Department of HD&L Products shows net sale of $3,500,000 cost of goods sold of $1,780,000 and operating expenses of $1,400,000. The Paint Department has net sales of $4,720,000 cost of goods sold of $3,100,750 and operating expenses of $149,000.

What is the operating expense percentage for the hardware department?

What is the operating income for the paint department?

I think I got the operating expense percentage : 40% ( I hope that is right..) I can't figure out the operating income - i believe it is gross income / net sales. but... where do I get the gross income?

My brain is fried - save me.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jane L. Reimers

1st Edition

0131492012, 978-0131492011

More Books

Students also viewed these Accounting questions

Question

Will the company help with relocation expenses?

Answered: 1 week ago

Question

Describe the planned-change model

Answered: 1 week ago