Chapter 8 question 40 part d correction.xlsx - Part(d 1 Pinnacle Manufacturing Company Common-sized Income Statement All Divisions For the Year Ended

Chapter 8 question 40 part d correction.xlsx - Part(d 1...

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Part (d) 1 Pinnacle Manufacturing Company Common-sized Income Statement - All Divisions For the Year Ended December 31 2016 201600.00% 2015 Preliminary % of sale Audited Sales 150,918,731 100.00% 148,764,555 Sales Returns and Allowances 181,103 0.12% 178,518 Cost of Sales* 109,284,780 72.41% 106,255,499 Gross Profit 41,452,848 27.47% 42,330,538 OPERATING EXPENSES-Allocated 0.00% Salaries-Management 2,281,266 1.51% 2,387,993 Salaries-Office 315,169 0.21% 296,681 Licensing and certification fees 190,650 0.13% 172,883 Security 550,603 0.36% 637,580 Insurance 93,197 0.06% 103,842 Medical benefits 23,721 0.02% 29,453 Advertising 162,512 0.11% 178,009 Business publications 6,989 0.00% 5,555 Property taxes 22,585 0.01% 178,009 Bad debts 841,699 0.56% 1,034,060 Depreciation expense 5,336,783 3.54% 4,641,982 Accounting fees 273,956 0.18% 297,777 Total operating expenses-Allocated 10,099,130 6.69% 9,963,824 OPERATING EXPENSES-Direct 0.00% Salaries-Sales 14,970,669 9.92% 15,327,777 Wages Rental 491,794 0.33% 595,389 Wages-Mechanics 1,113,539 0.74% 1,339,626 Wages-Warehouse 4,891,065 3.24% 5,340,271 Garbage collection 27,649 0.02% 29,771 Payroll benefits 2,657,889 1.76% 2,937,730 Rent- Warehouse 802,855 0.53% 764,346 Telephone 32,402 0.02% 45,173 Utilities 262,393 0.17% 267,005 Postage 89,763 0.06% 133,518 Linen service 17,282 0.01% 12,350 Repairs and maintenance 166,985 0.11% 168,405 Cleaning service 89,800 0.06% 81,589 Legal service 396,016 0.26% 190,540 Fuel 286,547 0.19% 341,192 Travel and entertainment 103,389 0.07% 103,842 Pension expense 228,555 0.15% 237,350 Office supplies 149,828 0.10% 148,340
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Miscellaneous
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