Operating activities are most closely related to?

Presented below is information related to Bobby Engram Company.

Natasha_Volkova [10]

Answer:

A. $ 98,210

B1. Cost to retail percentage 60%

B2. Cost to retail percentage 65.73 %

B3. Cost to retail percentage 58 %

B4. Cost to retail percentage 63.33 %

Explanation:

A. Computation for the ending inventory at retail

Inventory at Retail

Beginning Inventory $ 100,000

Purchase ( Net ) $ 200,000

Net Markup $ 10345

Less Net Markdown ($26,135)

Less Sales Revenue ($ 186,000)

Ending Inventory $ 98,210

Therefore the ending inventory at retail will be $ 98,210

B1) Computation for a cost-to-retail percentage

Excluding both markups and markdowns.

Cost to Retail Percentage

Excluding both Markup and Markdown

Cost Retail

Beginning Inventory $ 58,000 $ 100,000

Purchase (Net) $ 122,000 $ 200,000

Total $ 180,000 $ 300,000

Cost to retail percentage = $180,000/$300,000 Cost to retail percentage = 60%

B2. Computation for a cost-to-retail percentage Excluding Markups but Including Markdown

Cost Retail

Beginning Inventory $ 58,000 $ 100,000

Purchase (Net) $ 122,000 $ 200,000

Less Mark down ($ 26,135)

Total $ 180,000 $273,865

Cost to retail percentage= $180,000 /$ 273,865*100

Cost to retail percentage= 65.73 %

B3. Computation for a cost-to-retail percentage Excluding Markdowns but including Markups

Cost Retail

Beginning Inventory $ 58,000 $ 100,000

Purchase Net $ 122,000 $ 200,000

Add Net Markups $ 10,345

Total $180,000 $ 310,345

Cost to retail percentage = $180,000 / $ 310,345*100

Cost to retail percentage = 58 %

B4. Computation for a cost-to-retail percentage Including both Markups and Markdown

Cost Retail

Beginning Inventory $58,000 $100,000

Purchase Net $ 122,000 $ 200,000

Net Markups $ 10,345

Less Net Mardown ($26,135)

Total $ 180,000 $ 284,210

Cost to retail percentage = $ 180,000/ $ 284,210 × 100

Cost to retail percentage = 63.33 %

Therefore the cost-to-retail percentage are:

B1. Cost to retail percentage 60%

B2. Cost to retail percentage 65.73 %

B3. Cost to retail percentage 58 %

B4. Cost to retail percentage 63.33 %

8 0

3 years ago

Bachelor's degrees are awarded by

Misha Larkins [42]

A bachelor's degree (from Middle Latin baccalaureus) or baccalaureate (from Modern Latin baccalaureatus) is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to seven years (depending on institution and academic discipline).

5 0

3 years ago

Read 2 more answers

A man needed money to buy lawn equipment. He borrowed $700.00 for five months and paid $53.95 in interest. What was the rate o

Westkost [7]

<u>Answer:</u> The rate of interest per year is 18.49 %.

<u>Explanation:</u>

To calculate the rate of interest, we use the equation:

$\text{Interest paid}=\text{Amount borrowed}\times \text{Rate of interest}\times \text{Time}$

where,

Interest paid = $ 53.95

Amount borrowed = $ 700

Rate of interest = ?

Time = 5 months = $\frac{5}{12}$ (Conversion factor: 1 yr = 12 months)

Putting values in above equation, we get:

$\$53.95=\$700\times \text{Rate of interest}\times \frac{5}{12}\\\\\text{Rate of interest}=0.1849\times 100=18.49\%$

Hence, the rate of interest per year is 18.49 %.

8 0

3 years ago

Your company has sales of this year and cost of goods sold of . You forecast sales to increase to next year. Using the percent o

Trava [24]

Complete question :

Your company has sales of $101,500 this year and cost of goods sold of $66,300. You forecast sales to increase to $118,900 next year. Using the percent of sales method, forecast next year's cost of goods sold. The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career The forecasted cost of goods sold (COGS) is $ ___________ (Round to the nearest dollar.)

Answer:

$77,666

Explanation:

Given the following :

Sales for the year = $101,500

Cost of goods sold =$66,300

Forecasted increase in sales for next year = $118,900

Forecasted cost of goods sold for next year =?

Percentage cost of goods sold for this year:

Cost of goods sold / sales for this year

$66300/$101500

= 0.6532019

Forecasted cost of goods sold for next year:

(Forecasted increase in next year's sale * % cost of goods sold for this year)

= 118,900 * 0.6532019

= $77665.714

= $77666 ( nearest dollar)

6 0

3 years ago

Aisha appears to be overconfident, which makes her unapproachable to her employees. Which negative quality is she displaying?

Norma-Jean [14]

Overbearing or Self-Assurance

8 0

3 years ago