Revenue and expense data for Vent Molded Plastics and for the plastics industry as a whole
follow:
|
Vent Molded Plastics |
Plastics Industry |
|
|
Sales |
$462,000 |
100.30% |
|
Sales returns |
4,500 |
0.3 |
|
Cost of goods sold |
330,000 |
67.1 |
|
Selling expenses |
43,000 |
10.1 |
|
General expenses |
32,000 |
7.9 |
|
Other income |
1,800 |
0.4 |
|
Other expense |
7,000 |
1.3 |
|
Income tax |
22,000 |
5.5 |
Required
Convert the dollar figures for Vent Molded Plastics into percentages based on net sales.
Compare these with the industry average, and comment on your findings.