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3 years ago

7. Plush Furniture sells imported rosewood dining tables. The cost of one mode

Business

1 answer:

erma4kov [3.2K]3 years ago

4 0

Answer:

$877.30

Explanation:

The cost of one table is $762.87

mark-up is 15% based on the selling price

If mark-up is 15%, then selling price will be 115 % of the cost.

Cost = $762. 87

$762.87 = 100 %

115% =762.87/100 x 115

=7.6287 x 115

=877.30

selling price will $877.30

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Melba purchases land from Adrian. Melba gives Adrian $225,000 in cash and agrees to pay Adrian an additional $400,000 one year l

Scorpion4ik [409]

Answer:

Melba's adjusted basis for the land at the Acquisition date is $625000
Melba's adjusted basis for the land one year later is $645000

Explanation:

The adjusted basis for a property/land is the net cost of the property after adjusting for factors that might attract tax as related to the land

The adjusted basis for the land at the acquisition date is the net cost of the land at the acquisition date which will be ( $225000 + $400000 ) because that was the net cost of the Land at the date of acquisition before an agreement was later reached by Melba requiring him to pay $400000 plus an interest of 5%

Hence the adjusted basis for the land one year later will be

= ( $225000 + $400000 ) + 5% of $400000

= ( $625000 ) + $20000

= $645000

6 0

3 years ago

What does the intersection point of the demand and supply curves mark? The intersection point of the demand and supply curves ma

vladimir2022 [97]

Answer:

The equilibrium point

Explanation:

The equilibrium point is where there is an exact quantity of production output that perfectly satisfies the total demand of the market.

6 0

3 years ago

Read 2 more answers

Mercer, Inc. provides the following data for 2019: Net Sales Revenue Cost of Goods Sold The gross profit as a percentage of ne

Setler [38]

The question is incomplete as it is missing the figures. The complete question is,

Mercer, Inc. provides the following data for 2019:

Net Sales Revenue 598000

Cost of Goods Sold 350000

The gross profit as a percentage of net sales is ________. (Round your answer to two decimal places.)

Answer:

Gross profit as a percentage of net sales = 0.4147 or 41.47%

Explanation:

The gross profit is a profit earned by a business through its trading activity. It is calculated by deducting the cost of goods sold from the net sales revenue and it is the profit earned by a business before deducting any operating and non operating expenses of the business.

Gross profit = Net Sales - Cost of goods sold

Gross Profit = 598000 - 350000 = $248000

The gross profit as a percentage of net sales is,

Gross profit as a percentage of net sales = Gross profit / Net Sales

Gross profit as a percentage of net sales = 248000 / 598000

Gross profit as a percentage of net sales = 0.4147 or 41.47%

5 0

3 years ago

MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.

ruslelena [56]

Answer:

Direct Materials Purchases Budget Sept 51680 October 60160

Direct labor Budget September 54600 October 66150

Overhead Budget Sept $ 20920 October $23,230

Explanation:

The budgets are calculated in the following ways.

We multiply the required material , direct labor hour or variable overhead rate with the given number of units and then with the cost per unit to get the total costs.

MCO Leather Goods Manufacturers

Direct Materials

Purchases Budget

September October November

Production 5200 6300 6100

Pounds per units * 2 *2 *2

Total Pounds 10400 12600 12200

Cost per pound * $4 * $4 *$4

Total cost 41600 50400 48800

On hand

Inventory + 10080 + 9760 ---

Direct Materials

Purchases Budget 51680 60160

MCO Leather Goods Manufacturers

Direct Labor Budget

September October

Production 5200 6300

Hours required per unit * 0.7 *0.7

Total hours 3640 4410

Rate per hour * $15 *$15

Total labor Cost 54600 66150

MCO Leather Goods Manufacturers

Factory Overhead Budget

September October

Production 5200 6300

Hours required per unit * 0.7 * 0.7

Labor Hours 3640 4410

Variable OH * $3 *$3

Variable Costs $10920 $13230

Fixed OH + $10,000 +$10,000

Total OH $ 20920 $23,230

8 0

3 years ago

Match the terms with the appropriate definition.

Bond [772]

1.) data
2.)aptitude
3.)skill
4.)personality trait
5.)intrapersonal
6.) learning style

8 0

3 years ago