Question

The following financial information was summarized from the accounting records of Train Corporation for the current...

The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31:

  Rails
   Division
  Locomotive
   Division
    Corporate
   Total
Cost of goods sold $45,100     $29,600    
Direct operating expenses 27,500     21,700    
Sales 93,500     65,700    
Interest expense $2,800    
General overhead 18,100    
Income tax 4,500    

The gross profit for the Rails Division is

a.$66,000
b.$20,900
c.$48,400
d.$93,500

Homework Answers

Answer #1

The answer is B- 20,900

Sales            93,500
Cost of goods sold            45,100
Direct operating expenses            27,500
Gross Profit            20,900


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