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nadya68 [22]
3 years ago
14

Chicago​ Steel's operating activities for the year are listed below.Beginning inventory​ $1,000,000Ending inventory​ $350,200Pur

chases​ $750,400Sales revenue​ $1,500,900Operating expenses​ $700,500What is the gross profit for the​ year?
Business
1 answer:
OlgaM077 [116]3 years ago
3 0

Answer:

Gross Profit         100700

Explanation:

Beggining Inventory  1000000

Purchases                  750400

Inventory comsuption             x

Ending Inventory          350200

 

Ending I=begginin Inv+Purchases-comsuption  

Comsuption= 1400200  

 

Sales revenue 1500900  

Cost               1400200  

Gross Profit         100700  

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Select the correct statement from the following,assuming Carmichael Company had a favorable direct materials price variance of $
Murljashka [212]

Answer:

Total direct material variance= $1,000 favorable

Explanation:

Giving the following information:

Company had a favorable direct materials price variance of $3,000 and an unfavorable direct materials usage variance of $2,000.

<u>To calculate the total direct material variance, we need to use the following formula:</u>

<u></u>

Total direct material variance= price variance +/- quantity variance

Total direct material variance= 3,000 - 2,000

Total direct material variance= $1,000 favorable

4 0
3 years ago
________ are combating competitive pressures by providing better value with private-label merchandise; adding new value-added se
Evgesh-ka [11]

Answer: Conventional supermarket

Explanation:

Conventional supermarket is a departmentalized food store that has a wide range of food and related products and the sale of general merchandise is limited.

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7 0
3 years ago
If the Potinsky household spends ​$37 comma 300 annually on all living expenses and​ long-term debt, calculate the amount recomm
Finger [1]

Answer:

$9,249 for three months, $18,498 for six months.

Explanation:

Experts recommend that an emergency fund should include 3 to 6 months of cash to provide for living expenses.

The Potinsky household spends $37,000 annually, therefore, it spends $3,083 monthly ($37,000 / 12).

For a three-month emergency fund = $3,083 x 3

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For a six-month emergency fund = $3,083 x 6

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8 0
3 years ago
Sandra is a production manager at a soda manufacturing and bottling plant. One of her duties is to create a monthly inventory re
GaryK [48]

Answer:

Accuracy

Explanation:

Sandra as a production manager is responsible to make a list of material received from the supplier. For an accurate list, it is important that the supplier must provide her with the detail of every inventory they provided along with the recipes.  In the previews month, the supplier provided an erroneous list which leaked detail and in this case, her report cannot be considered authenticate or reliable because it lacked accuracy.

4 0
3 years ago
When your local Internet service provider increased its monthly charge from $40 to $50, the number of subscribers fell from 2,00
love history [14]

Answer: Inelastic

Explanation:

Based on the information given, we would calculate the elasticity of demand which would be:

= (Change in Quantity / Change in Price) (Initial Price/ Initial Quantity)

Change in Quantity = 1800 - 2000 = -200

Change in Price = 50 - 40 = 10

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Since elasticity of demand is less than 1, it is an inelastic demand.

7 0
3 years ago
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