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Compute the unit cost for one brush

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Reference no: EM13533104

Preparing an income statement and computing the unit cost for a merchandising company

Snyder Brush Company sells standard hair brushes. The following information summarizes Snyder's operating activities for 2012:

Selling and administrative expenses

$ 49,680

Purchases

78,000

Sales revenue

138,000

Merchandise inventory, January 1, 2012

7,500

Merchandise inventory, December 31, 2012

12,360

Requirements

1. Prepare an income statement for 2012. Compute the ratio of operating expense to total revenue and operating income to total revenue.

2. Snyder sold 6,000 brushes in 2012. Compute the unit cost for one brush.

Reference no: EM13533104

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