Corby Distilleries Supplied the Following Data at the End of the Current

question 128

Essay

Corby Distilleries supplied the following data at the end of the current year. $\begin{array}{lr}\text { Finished goods inventory, Jan 1. } & 12,000 \\\text { Finished goods inventory, Dec. } 31 & 7,500 \\\text { Cost of goods manufactured } & 152,380 \\\text { Sales revenue } & 212,000 \\\text { Sales commissions } & 19,080 \\\text { Research and development costs } & 15,900\end{array}$ Required: A. $\quad$ Calculate the cost of goods sold percent.
B. $\quad$ Calculate the gross margin percent.
C. $\quad$ Calculate the selling expense percent.
D. $\quad$ Calculate the administrative expense percent.
E. $\quad$ Calculate the operating income percent.

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Definitions:

Palmar Reflex

An involuntary response observed in infants, where the hand closes over an object placed in the palm.

Motor Development

The process of change in physical movement capabilities observed across the lifespan from infancy through adulthood.

Social Functioning

The ability of an individual to interact and perform in a social environment, encompassing both the performance of daily activities and the quality of relationships with others.

Intellectual Functioning

The capacity of an individual to act purposefully, think rationally, and deal effectively with the environment, often measured by intelligence quotient (IQ) tests.