E9-3 - Sorenson Electronics Average Amount Sales. Sales...

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Sorenson Electronics Electronics Industry Company Average Amount Percent Sales. .......................................................................... $ 2,050,000 102.5% 102.5% Sales returns and allowances. .................................... 50,000 2 .5 2 .5 Net sales. .................................................................... $ 2,000,000 100.0% 100.0% Cost of goods sold. ..................................................... 1,100,000 55 .0 61 .0 Gross profit. ............................................................... $ 900,000 45 .0 % 39 .0 % Selling expenses. ........................................................ $ 560,000 28.0% 23.0% Administrative expenses. ........................................... 220,000 11 .0 10 .0 Total operating expenses. ........................................... $ 780,000 39 .0 % 33 .0 % Operating income. ...................................................... $ 120,000 6.0% 6.0% Other income. ............................................................. 44,000
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This note was uploaded on 04/11/2011 for the course ACC 305 taught by Professor Allison during the Spring '11 term at Western Intl..

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