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Jones Brush Company sells standard hair brushes The following information summanzes Jones's operating activities for 2024 rig(Click the Icon to view the information ) Requirements 1_ Calculate the operating income for 2024 2
Jones Brush Company sells standard hair brushes The following information summanzes Jones's operating activities for 2024 rig(Click the Icon to view the information )
Requirements 1_ Calculate the operating income for 2024 2. Jones sold 6,500 brushes in 2024. Compute the unit cost for one brush.
Requirement 1_ Calculate the operating income for 2024
Jones Brush Company Income Statement Year Ended December 31, 2024
Revenue
Cost of Goods Sold
1
Cost of Goods Sold Gross Profit
Operating Income
I
0 Data Table
Selling and Administrative Expenses S 30.780 Purchases 04,500 Net Sales Revenue 117.000 Merchandise Inventory, January 1, 2024 8.125 Merchandise Inventory, December 31, 2024 29,445
Expert Solution
| Requirement 1 | ||
| Jones Brush Company | ||
| Income Statement | ||
| Year Ended December 31, 2024 | ||
| Revenue | ||
| Sales revenue | 117000 | |
| Cost of Goods Sold | ||
| Merchandise Inventory, January 1, 2024 | 8125 | |
| Purchases | 84500 | |
| Goods available for sale | 92625 | |
| Merchandise Inventory, December 31, 2024 | 20445 | |
| Cost of goods sold | 72180 | |
| Gross Profit | 44820 | |
| Selling and administrative expenses | 39780 | |
| Operating Income | 5040 | |
| Requirement 2 | ||
| Cost of goods sold | 72180 | |
| Units sold | 6,500 | |
| Cost per unit | 11.10 | |
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