When solving for the gross profit on a product use:
Gross profit = Sales - Cost of goods sold
Sales = $814,000
Cost of goods sold = $386,650
Gross profit = $814,000 - $386,650
Gross profit = $445,350
Answer:
c) Statement of Net Position; Statement of revenues, expenditures, and changes in fund balances; Statement of Cash Flows
Explanation:
Proprietry funds are accounts that are part of governmental institutions and non profits organizations and these require a high standard of transparency and accountability, so they are require to provide to the government the next statements: tatement of net assets; a statement of revenues, expenses, and changes in fund net assets; and a statement of cash flows.
This is accordingly to the summary of statements N. 34 from the Governmental Accounting Standards Board.
Answer:
variable and fixed costs.
Explanation:
The format of the contribution margin income statement is presented below:
Sales XXXXX
Less: Variable cost (XXXXX)
Contribution margin XXXXX
Less: Fixed cost (XXXXX)
Net income or loss XXXXX
Based on this we can concluded that the contribution margin income statement classified into two cost i.e variable and fixed cost
Saturn inc. is in the<u> "strategy formulation"</u> phase.
Strategy formulation is the procedure by which an association picks the most suitable courses of action to accomplish its characterized objectives. This procedure is basic to an association's prosperity, since it gives a system to the activities that will prompt the foreseen results. Key designs ought to be conveyed to all representatives with the goal that they know about the association's destinations, mission, and reason. Strategy formulation powers an association to deliberately take a gander at the changing condition and to be set up for the conceivable changes that may happen.
