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  3. conway brush company ltd sells standard hairbrushes the following information...

Question: conway brush company ltd sells standard hairbrushes the following information...

Question details

Conway Brush Company Ltd sells standard hairbrushes. The following information summarises Conway​'s operating activities for 2016;

Requirement

1.      Prepare an income statement for 2016, Calculate the ratio of operating expense to total revenue and profit to total revenue.

2.      Conway sold 6400 brushes in 2016. Calculate the unit cost for one brush .

Information

Selling and administrative expenses

$36 575

Purchases

63 250

Sales revenue

104 500

Inventory, 1 January 2016

8 800

Inventory, 31 December 2016

18 755

 

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