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

question 97

Essay

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

---

Definitions:

Behavior Development

The process by which individuals acquire or change their behaviors over time through interactions with their environment.

Statistical Analysis

The process of collecting, examining, interpreting, and presenting numerical data to discover underlying patterns and trends.

Specific Criteria

Distinct or particular standards, requirements, or conditions used for making decisions, evaluations, or selections.

Comparison Groups

In research, groups that are compared to the experimental group to measure the effect of a treatment or intervention.