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Use the Following Selected Information from Wheeler,LLC to Determine the 2018

Question 148

Multiple Choice

Use the following selected information from Wheeler,LLC to determine the 2018 and 2017 common size percentages for operating expenses using Net sales as the base. 20182017Net sales$276,200$231,400Cost of goods sold151,900129,590Operatirg expenses55,24053,240Net earmirgs27,82019,820\begin{array}{lrrl}&2018&&2017\\Net ~sales&\$ 276,200& & \$ 231,400 \\Cost ~of ~goods ~sold&151,90 0 & & 129,590 \\Operatirg ~expenses&55,240 & & 53,240 \\Net ~earmirgs&27,820 & & 19,820\end{array}


A) 36.4% for 2018 and 41.1% for 2017.
B) 55.0% for 2018 and 56.0% for 2017.
C) 23.9% for 2018 and 23.0% for 2017.
D) 103.8% for 2018 and 100.0% for 2017.
E) 20.0% for 2018 and 23.0% for 2017.

Correct Answer:

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