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2 years ago

Forecast the 2019 Cost of goods sold on the previous year’s number and the assumptions

Business

1 answer:

AleksAgata [21]2 years ago

3 0

The cost of goods sold based on the sales revenue in 2019 is $32,400

What is the cost of goods sold?

The cost of goods sold is the cost of the goods sold in a particular year, it is determine as the sales revenue minus the gross margin in dollar terms.

We need to first of all determine the sales revenue in 2019 based on 2018 sales revenue and the 2019 growth rate of 8%

2019 sales revenue=50,000*(1+8%)

2019 sales revenue=$54,000

Now the gross margin is 40% of sales revenue

cost of goods sold=sales revenue-gross margin

cost of goods sold=$54,000-(40%*$54,000)

cost of goods sold=$32,400

Find out more about cost of goods sold:brainly.com/question/27917613

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Do applications require you to provide the following basic elements: social security number, experience, and favorite memories?

serg [7]

Only social security and experience...

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3 years ago

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which type of economy are individuals least likely to determine which products they consume, and why?

Ket [755]

That would be a command economy because in this economy type the government has complete control over all economic decisions. vote me brainliest :)

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3 years ago

Lone Star Meat Packers is a major processor of beef and other meat products. The company has a large amount of T-bone steak on h

shusha [124]

1. The Lone Star Meat Packers' financial advantage of further processing one T-bone steak into Filet Mignon and New York cut steaks is $0.41 per pound.

Data and Calculations:

Selling price per pound of T-bone steaks = $2.40

Split-off costs = $1.60

Profit per pound =$0.80 ($2.40 - $1.60)

6-ounce filet mignon = 0.375 pounds (6/16)

8-ounce New York cut = 0.5 pounds (8/16)

Further processing costs = $0.19

New sales prices after further processing:

Filet Mignon = $1.35 ($3.60 x 0.375)

New York cuts = $1.65 ($3.30 x 0.5)

Total price per pound = $3.00

Total cost after further processing = $1.79 ($1.60 + $0.19)

Profit per pound after further processing = $1.21 ($3.00 - $1.79)

Financial advantage from further processing = $0.41 ($1.21 - $0.80)

Thus, the financial advantage of further processing one T-bone steak into Filet Mignon and New York cut steaks is $0.41 per pound.

Learn more: brainly.com/question/23032790

8 0

2 years ago

Utility costs that relate to current year's operations but are not paid until the following year require:______

motikmotik

Utility costs that relate to current year's operations but are not paid until the following year require:

a debit to Utilities Expense
a credit to Utilities Payable

<h3>What happens when expenses are not paid?</h3>

Expenses are meant to be paid within the accounting period that they occur and if this does not happen, then they are to be treated as current liabilities in the Balance sheet.

This means that the Utilities Expense account will be debited as is the norm but the account that will then be credited is the Utilities Payable account which is a current liability.

Options for this question:

(Select all that apply.)

a debit to Prepaid Expense - Utilities
a debit to Utilities Expense
no journal entry
a credit to Utilities Payable
a credit to Cash

Find out more on recording expense payables at brainly.com/question/16781277

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3 0

1 year ago

The demand for good X is estimated to be Qxd = 10,000 − 4PX + 5PY + 2M + AX where PX is the price of X, PY is the price of good

Olenka [21]

Answer:

Explanation:

Given the equation ; Qxd = 10,000 − 4PX + 5PY + 2M + AX

where PX is the price of X = $50

PY is the price of good Y = $100

M is income = $25,000

and AX is the amount of advertising on X = 1,000 units

a) Calculate the quantity demanded of good X ; Plugging all the values into the equation ;

= 10,000 − 4(50) + 5(100) + 2(25,000) + 1000

Qxd = 61,300units

b) Calculate the own price elasticity of demand for good ;

= d(Qxd)/dpx X px/Qxd = -4 x 50/61,300

= 0.0033. hence he demand for goods is inelastic

c) l will surely recommend lowering the price as this is evident from the value of the price elasticity of demand which is negative as such an increase in the price of their goods will give rise to total loss

d ) cross-price elasticity between goods X and Y = %change in quantity/ %change in price

e) Calculate the income elasticity of good X. Is good X normal or an inferior good? = dQ/dM X M/Q = 2(25000) /61300

= 0.82.

Yes! Good X is a normal goods since the value of the income elasticity is positive.

5 0

3 years ago