64 WOMEN’S MUSLIN-UNDERWEAR INDUSTRY. 
The preceding tables in this Shomer of the report show the Der 
centages of the items of cost and the percentages of profit based on 
net sales. The percentages of the items of cost, if based on the total 
of the cost of goods manufactured and the selling expense, are dif- 
ferent from what they are if based on net sales. 
If based on the net sales, the item of profit is a part of the divisor, 
and in that case the percentage of each item of cost is smaller than 
when the computation is based on the cost of manufacturing and 
pellng When there is a loss, the divisor is correspondingly smaller 
and the quotient in each case is larger. 
Furthermore, the amount of goods manufactured during a business 
year may be greater or less than the amount of net sales. Comparison 
of the inventory of finished Jools on hand at the end of a business 
year with the inventory at the beginning of the year may show a 
smaller amount on hand at the end of the year, in which case the quan- 
tity of the goods sold during the year would have been greater than 
the quantity manufactured and purchased. If the closing inventory 
were greater than the opening inventory, the quantity of goods sold 
during the year would have been less than the quantity manufactured 
and purchased. } 
In the series of tables which follow, the percentages of the items of 
cost are based on the total Sapp and selling expense; that 
is, on the total cost of the product and se Ving expense of the factory 
during the year, and not on the amount of sales. Table 24 gives 
this information by detailed items of cost for establishments 0 
York ony in one op and those for all other establishments in another 
group, also for New York City and other localities combined, but 
grouped according to the value of net sales: 
TABLE 24.—PERCENTAGE OF AVERAGE Cost oF EAcH SPECIFIED ITEM, BASED ON THE 
Toran, MANUFACTURING AND SELLING EXPENSE, BY COMBINATIONS OF GROUPS 
OF ESTABLISHMENTS. 
Estab- Establishments with net sales of— 
Estab-  lish- 
Ale The gt 
flit ments outside $100,000 ! i 
in New ew and less | and less $400,000 
Items. report “yg York a than ' than and over, 
os 5 Sa. J, Groups’ $200,000, $400,000, Groups 
T TOupPS roups roups roups an 
rio VIL Tio1v, Vie TendV.| FOR | Spon VIII. 
VIII. Weer 
Number of establishments re- 
Horton. rn AES IES 17 UE 0 21 20 15 9 
Total manufacturing and selling. ~~ 100. 00 100. 00 | 100.00 100. 00 100.00 1 100.00 100. 00 
Raw material................. 62.36  62.99' 6L20 63.00 62.25 64.23 60.93 
Direct labor: - 
Sie; he 3 I rn Bn. 17.000 20300 wns ri) 
Paid to contractors. ........ 1.79 . 2.42 , .65 A? -50 1.46 3. 10 
Total.eeeeeennnnn. 10.02] 19.04 20.43 18.13] 20.80 10.64 20.11 
Indirect labor: - ~ RB 
Salaries of officials.......... Lilie 1.12 1.25 1.71 1.32 1.26 | . 89 
WOES. «ess wdnnlnns sean 2.65 , 2.20 3.49 2.42 2.09 2.15! 3.36 
Tool... erereverecetie ll. 255) S00. ih 413 3a wal 4.25