If a company has net sales of $707000 and cost of goods sold of $445410, the gross profit percentage is:_______

Most four-year colleges want to see that you have participated in community service and extracurricular activities because?

yKpoI14uk [10]

It reflects positively on the college and it shows that you have respect for others are willing to help as well.

4 0

3 years ago

A company has beginning inventory of 10 units at a cost of $10 each on February 1. On February 3, it purchases 20 units at $12 e

Gre4nikov [31]

Answer:

b) $124

Explanation:

FIFO means first in, first out. Under this principle, goods that were purchased or produced earlier will be the first ones on sale.

The value of the goods sold in our case will be as follows.

The first ten items @ $10: 10X10 =$100

Two items to make [email protected] $12: 2x12=$24

Total cost: $100+$24= $124

7 0

2 years ago

Suppose during 2017 that Federal Express reported the following information (in millions): net sales of $34,450 and net income o

Ronch [10]

Answer:

The asset turnover is 1.44 and return on assets is 0.37%

Explanation:

Average Total assets

Assets in the beginning $24,590

Assets at the end $23,300

Average assets $23945

Sales $34,450

Divide: Average assets $23945

Assets turnover ratio 1.44

Net Income $89

Divide: Average assets $23945

Return on assets 0.37%

Therefore, The asset turnover is 1.44 and return on assets is 0.37%

3 0

3 years ago

Bonnie's employer provides her with an annual dinner club membership costing $5,000. Her marginal tax rate is 24 percent. Her em

Nikolay [14]

Answer:

$3,800

Explanation:

The computation of the after-tax benefit is shown below:

= Annual dinner club membership cost - annual dinner club membership cost × her marginal tax rate

= $5,000 - $5,000 × 24%

= $5,000 - $1,200

= $3,800

We simply deduct her tax expense from the annual dinner club membership cost so that the accurate amount can come.

All other information which is given is not relevant. Hence, ignored it

8 0

2 years ago

Restate the following income statement for a retailer in contribution format. Sales revenue ($100 per unit) $ 98,000 Less cost o

Rudiy27

Answer:

Contribution Margin Statement

Sales revenue ($100 x 980) $98,000

Less Variable costs:

cost of goods sold ($58 x 980) $56,840

Commissions expense ($5 x 980) $4,900

Shipping expense ($3 x 980) $2,940

$64,680

Gross margin $33,320

Less Fixed costs:

Salaries expense $7,900

Advertising expense $5,800

$13,700

Net Profit $19,620

5 0

2 years ago

If a company has net sales of $707000 and cost of goods sold of $445410, the gross profit percentage is:________