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1 year ago

How do you solve profit questions?

1 answer:

8 0

The profit questions can be solved as finding the profit is considered to be simple using the given formula: Total Revenue - Total Expenses = Profit.

Profit is considered as the revenue which is minus expenses. So, for gross profit, you tend to subtract some expenses. For net profit, you can subtract all the expenses. However, the gross profits and operating profits are steps on the road to net profits.

So making a profit is one of the most important objectives of a business. Thus, calculating one's profit can not only help you determine your level of success, it also provides information about where your business is making money.

Hence, it also says that when and where you are spending it.

To learn more about revenue here:

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Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the f

luda_lava [24]

Answer:

Equivalent units for conversion costs are 6,925 units

Explanation:

Note : I have attached the full question as an image below

Equivalent units are physical units expressed as a percentage of total work completed on them

<u>Equivalent units for conversion costs</u>

Units Completed and Transferred (6,100 × 100%) 6,100

Units in Closing Work in Process (1,100 × 75%) 825

Equivalent units for conversion costs 6,925

<u>Equivalent units for material costs</u>

Units Completed and Transferred (6,100 × 100%) 6,100

Units in Closing Work in Process (1,100 × 85%) 935

Equivalent units for material costs 7,035

4 0

3 years ago

Harvey quit his job at State University, where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrep

ANEK [815]

Answer:

$60,000

Explanation:

Calculation to determine what The implicit costs of Harvey's firm in the first year were

First step is to calculate the Total revenue

Total revenue = 11000 × $75

Total revenue=$825,000

Second step is to calculate the Explicit cost

Explicit cost = 11000 × $55

Explicit cost= $605,000

Third step is to calculate the profit

Profit = $825,000-$605,000

Profit=$220,000

Now let calculate the Implicit cost

Using this formula

Implicit cost =Profit-(Amount earned per year +Forgone entrepreneurial income+Bond at 10% interest per annum)

Let plug in the formula

Implicit cost=$220,000-[$45,000+$5,000+($100,000+10%*$100,000)]

Implicit cost=$220,000-[$45,000+$5,000+($100,000+$10,000)]

Implicit cost=$220,000-($45,000+$5,000+$110,000)

Implicit cost=$220,000-$160,000

Implicit cost=$60,000

Therefore The implicit costs of Harvey's firm in the first year were $60,000

3 0

3 years ago

Which of the following serve as intermediaries channeling the savings of individuals, businesses and governments into loans and

finlep [7]

Answer: Financial institutions

Explanation: Financial institutions, sometimes referred to as banking institutions works as a intermediary in financial markets. These institutions offers deposit facilities to general public in exchange of interest on such deposits. Then these institutions lend the deposited amounts to those in need for investments and funds and charge interest to them.

Thus, we can conclude that option A is correct.

8 0

4 years ago

Reasons why South African post office taking private courier companies to court

Brrunno [24]

Answer:

Explanation:

As the only operator of this kind in South Africa, the Post Office has the exclusive right to provide delivery services for all letters, postcards, printed matter, small parcels, and other postal articles up to and including 1kg.

PostNet was initially ordered to stop delivering all packages weighing 1kg and less by 17 March 2020. However, it secured an interdict which allowed it to continue to deliver these packages until the full challenge was heard in the Gauteng High Court.

The Post Office, Postnet and the South African Express Parcel Association (SAEPA) are now set to head to court in a move that could have ramifications for the entire courier industry in South Africa.

Icasa spokesperson Paseka Maleka told BusinessDay that the regulator would give its support to the Post Office as it was following the letter of the law, which allowed private couriers to only deliver food items in the 1kg or less category.

“Icasa’s mandate is to implement what the law requires, and we are doing exactly that,” he said.

“There are exemptions that deal with businesses that do not fall under postal services. Uber Eats, Mr Delivery, etc are such businesses. Obviously, one cannot expect Sapo to be delivering pizza to a consumer,” he said.

3 0

3 years ago

Choose the indicator that is not relevant in identifying a company's present strategy Select one: A. management's planned, proac

BigorU [14]

Answer:

The correct answer is the option E: moves to respond and react to changing conditions in the macro-environment and in industry and competitive conditions.

Explanation:

To begin with, when it comes to know and develop the business strategy from a company the most important factors to have in mind are all the key functional strategies, the mission, strategic objectives and financial objectives. As well as the strategic role that the companies who have an alliance with the company have. The management's plan to outcome the rivals is also super important. And finally the moves to respond to changing conditions in the macro-environment are very important things to have in mind but when it comes to describe one's strategy in the business that is not fundamental due to the fact that those moves will appear eventually when the occasion arises, so that is why that is answer.

5 0

4 years ago