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slamgirl [31]
3 years ago
8

During the month, merchandise is sold for $80,500 cash and for $119,000 on account. The cost of goods sold is $101,500. What is

the amount of gross profit?
a. $199,500
b. $119,000
c. $98,000
d. $80,500
Business
1 answer:
REY [17]3 years ago
5 0
First add two numbers and get the sum and then subtract with the third number and get the different ..so the answer will be C: 98000
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An independent consumer education website that has no motive to try to sell you something such as Consumer Reports.

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Charles is a consultant living in a rented apartment. Which of the following statements would represent a logical position for h
miskamm [114]

C. Charles should forgo renter's insurance if the premiums will quickly overtake the value of his belongings.

Renter's insurance is a useful and valuable tool to protect tenants against loss  or damage of  their property, and is a wise purchase in most cases. However, if you are paying more every month in your insurance premiums than the total value of the goods you are protecting, the insurance may no longer be worth the cost.

3 0
3 years ago
The Converting Department of Worley Company had 2,400 units in work in process at the beginning of the period, which were 35% co
irinina [24]

Answer:

Equivalent units

Materials    = 12,700 units

Conversion cost =  11,940 units

Explanation:

<em>Equivalent Units E.U) are notional whole units which represent incomplete work and are used to apportion costs between between work in progress and completed work.</em>

<em>Equivalent Units = Degree of completion (%) × units</em>

<em>We will use the weighted average method</em>

<em>Weighted average method</em>

<em>The weighted average method of valuation of work in progress does not separate opening work-in progress from the newly introduced.</em>

<em>Using the weighted average method</em>

<em />

<em>Equivalent unit for material cost</em>

Since direct materials are added at the the beginning of the production process the equivalent unit of direct material

EU = (100% × 10,800) + (100% ×1900) = 12700

<em>Note that 100% represent the degree of completion.</em>

<em />

Equivalent unit for conversion cost

<em>Item                                                   Equivalent unit</em>

Transferred out         100%× 10,800 = 10,800

Closing inventory     60%  ×1900 =     <u>  1140</u>

Total equivalent unit =                         <u>11,940</u>

5 0
3 years ago
When​ Judy's income increased from ​$200 to ​$240 a​ week, she increased her demand for concert tickets by 20 percent and decrea
aleksley [76]

Answer:

The answer is YED for concert tickets =  20%/ 20% = 1

YED for bus rides = -20% / 20%  = -1

Explanation:

income elasticity of demand (YED) = % change in Quantity demanded / % change in income

% change in income= (240-200) / 200  * 100= 20%

YED for concert tickets =  20%/ 20% = 1

YED for bus rides = -20% / 20%  = -1

The income elasticity of demand for concert tickets and bus rides is  unitary which means the rise in income is proportionate to the increase in the quantity demanded.

4 0
3 years ago
At the current prices of goods X and Y, the quantity demanded of good X is 10 units, and the quantity demanded of good Y is 5 un
damaskus [11]

Answer:

When the price of good y increases by 10% it will result in the quantity demanded of x to increase by (0.6*10) =6%. The current quantity demanded of good x is 10 so a 6% increase will mean the quantity demanded of x will be (1.06*10)= 10.6

Explanation:

The cross elasticity of goods x and y is 0.6, which means that a one percent increase in price of good y will increase the demand for good x by 0.6%, this means that x and y are substitute goods, as when the price of y increases people tend to buy more of x.

When the price of good y increases by 10% it will result in the quantity demanded of x to increase by (0.6*10) =6%. The current quantity demanded of good x is 10 so a 6% increase will mean the quantity demanded of x will be (1.06*10)= 10.6

8 0
3 years ago
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