1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
algol13
3 years ago
15

A company has sales of $695,000 and cost of goods sold of $278,000. Its gross profit equals

Business
1 answer:
zepelin [54]3 years ago
4 0

Answer:

Gross profit = $417,000

Explanation:

<em>Gross profit is the excess of the sales revenue over and above the cost of goods sold. It shows how profitable a business is by managing well the cost of inputs that can be directly related to the goods sold</em>. .

If the gross profit is falling over time it indicates the business is losing control over the cost of its input

Gross profit = Sales revenue - cost of goods sold.

The gross profit= 695,000 -  278,000

                         = $417,000

You might be interested in
PromptMichael and Johnny are sitting at a bar having a few beers. Michael is a product engineer and Johnny is an electrical engi
larisa86 [58]

Answer:

No, there was no arrangement of any kind. It was either a common idea or a notion that Johnny shared with Michael.

Explanation:

There are a range of contracts or agreements, depending on the stage of the implementation of the concept of the invention, to safeguard the rights of the various stakeholders to the intellectual property of modern, concrete and original concepts and also to prevent any misuse or misappropriation of the concept, as follows-

  • Non-disclosure policy on confidentiality.
  • Non-compete agreement on the non-appeal of product rights by the recipient or listener of the definition.
  • Function on the contract of hire-employed if there is a co-inventor against any fraud.

And, in that case, there were none of the above agreements.

-In addition, ideas can not be covered solely until they are an Express that is real, original, and feasible. Since copyright protects speech and patents against inventions, the mere concept or idea of a product can not guarantee any legal right to design.

In fact, Mr. Johnny had not previously submitted a provisional patent application to defend his concept. It plays an important role in certain countries, such as the US, where the applicant can protect his idea on a provisional basis for up to one year by enabling his idea to be classified as 'patent pending.'

So, according to the above statements & evidence, Johnny did not have the legal right to the definition, but Michael did.

-Yeah, this is a breach of intellectual property rights. Since the term or idea was not Michael's own, it was taken from Johnny. But Johnny did not have the intellectual property right lodged to sue Michael due to lack of facts, i.e. an agreement signed by Michael against non-disclosure or non-competition.

4 0
4 years ago
A consumer products company produces inexpensive goods in underdeveloped markets, then repackages them as cost-effective innovat
Sholpan [36]

Answer:

FALSE.

Explanation:

When a consumer products company produces inexpensive goods in underdeveloped markets, then repackages them as cost-effective innovations for Western buyers. This is not an example of glocalization because glocalization is the term which is the combination of two terms; localization and globalization. In glocalization, global products are offered to the customers with the local modifications. For example, Pizza Hut has launched Tikka Pizza, Behari Pizza and Achari Pizza in India and Pakistan, which is the perfect example of glocalization. Putting it simply we can say that "thinking globally and acting locally."

3 0
3 years ago
The company's adjusted trial balance as follows includes the following accounts balances:
Zina [86]

Answer:

Expense & revenue summary a/c (credit balance) = $3500

Explanation:

  1. Dr  Expense & revenue summary 52500

                          Cr Sales discount                     1500

                          Cr Sales return & allowance   3000

                          Cr   Depreciation expense      25000

                          Cr   Salaries expense               23000

         (Close expenses to expense & revenue summary a/c)

2. Dr Sales    56000

                           Cr  Expense & revenue summary  56000

       (Close sales to expense & revenue summary a/c)

3.  Dr Expense & revenue summary a/c 3500

                         Cr  Retained earning a/c           3500

      (To close expense & revenue summary a/c)

4. Dr Retained earning  2000

                          Cr Expense & revenue summary  2000

       (Close dividend to expense & revenue summary a/c)d

7 0
3 years ago
Race is best defined as _____.
nirvana33 [79]
A socially constructed category made up of people who share biologically transmitted traits
7 0
3 years ago
A retail store's Sales Account totals $223,000 which includes both the sales revenue and the sales tax on the sales. If the sale
ella [17]

Answer:

$10,619.05

Explanation:

When sales is made at a tax rate of 5%, the entries to be posted in the proportion of the transaction amount

Dr Cash/ Accounts receivable 105%

Cr Sales revenue 100%

Cr Sales tax 5%

As such, if Sales Account totals $223,000 which includes both the sales revenue and the sales tax on the sales, it means that the accounts contains 105%, as such, the sales tax which is the amount owed the taxing agency

= 5/105 * $223,000

= $10,619.05

3 0
3 years ago
Other questions:
  • ​Fender, which uses a standard cost​ system, manufactured 20 comma 000 boat fenders during 2018​, using 141 comma 000 square fee
    14·1 answer
  • What is usually paid on a biweekly or monthly basis for professional employment.
    7·1 answer
  • Your Web team has been advised that the sales representatives receive a large number of questions from customers about a newly i
    11·2 answers
  • Bonds often pay a coupon twice a year. For the valuation of bonds that make semiannual payments, the number of periods doubles,
    13·1 answer
  • Rhett corporation manufactures and sells dress shirts. each shirt (unit) requires 3 yards of cloth. selected data from rhett's m
    8·1 answer
  • The Occupational Safety and Health Act (OSHA) mandated that first-aid kits be available in business establishments employing mor
    15·1 answer
  • Explain how public disclosure is used as a tool to prevent market failures.
    7·1 answer
  • Suppose workers notice a fall in their nominal wage but are slow to notice that the price 0fthings (actual
    5·1 answer
  • Moss exchanges a warehouse for a building he will use as an office building. The adjusted basis of the warehouse is $ 600,000 an
    15·1 answer
  • How is rocks made will give brainliest if right
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!