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Blababa [14]
3 years ago
10

Which type of small store carries a limited line of high-turnover convenience goods and makes most of its revenues from cigarett

e, beverage and gasoline sales?
Business
1 answer:
mina [271]3 years ago
4 0
This type of store retail business is called the convenience store. They stock a wide variety of goods every day and may also offer other services such money order or wire transfers. A great example is the chain of 7-11 stores.
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At the end of the year, overhead applied was $42,000,000. Actual overhead was $40,300,000. Closing over/underapplied overhead in
scoundrel [369]

Answer:

Hence, closing over  overhead into Cost of Goods Sold would cause net income to increase by $ 1,700,000

Explanation:

Overheads are charged to units produced by the means of using an estimated overhead absorption rate. This rate is computed using budgeted overhead and budgeted activity level.

As a result of this, overhead charged to total units product might be over or under absorbed compared to the actual amount incurred.

Over applied overhead = Applied overhead - Actual overhead

                                     = 42,000,000 - 40,300,00 =  1,700,000

Over applied overhead = $ 1,700,000

The adjustment required is to reduce the cost of gods sold by the amount of over-applied overhead because the cost of goods sold figure is would have over charged.

Hence, closing over  overhead into Cost of Goods Sold would cause net income to increase by $ 1,700,000 because net income and cost of Goods Sold are inversely related.

4 0
2 years ago
Domestic producers of steel rods send a lobbyist to the U.S. government to request that the government impose trade restrictions
Zarrin [17]

Answer:

C. Infant-industry argument

Explanation:

The lobbyst is using the infant-industry argument because he is claiming that all that the emerging national industry needs is some temporary trade restrictions until it can develop enough to compete.

This argument is very commonly used against free trade, and is based on the belief that national industries should be allowed to grow in isolation before opening up the markets. The problem with this argument is what happens if the national industry remains uncompetitive even after a long period of trade restrictions.

7 0
3 years ago
During fiscal 2016, mattel had sales of $5,456,650, total expenses of $5,138,628 and gross profit of $2,554,391. What was mattel
liberstina [14]

Calculation of Cost of Sales for Mattel for the year 2016:


It is given that Mattel had sales of $5,456,650, and gross profit of $5,456,650for the year 2016. The cost of sales can be calculated with the help of following formula:

Cost of Sales = Sales – Gross Profit

Cost of Sales = 5,456,650-5,456,650

Cost of Sales = 2,902,259


Hence the Cost of Sales is 2,902,259 ($ in thousands).





4 0
3 years ago
Managerial efforts to boost a company's stock price should entail such actions as
sp2606 [1]

<span>The proactive efforts of company managers to boost the stock price of the company should, of a necessity, include such actions as raising the company's dividend each year (ideally by at least $.05 per share) and repurchasing shares of common stock.</span>

4 0
3 years ago
The finance balance sheet is
Scorpion4ik [409]

Answer:

A) the same as the accounting balance sheet, but it is based on market values.

Explanation:

The finance balance sheet is same as the accounting balance sheet but it is based on market value.

3 0
3 years ago
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