Answer:
Yes, Davis is able to hold Erica liable for the damages he is being sued for
Explanation:
The vital factor to be considered here is that there was a "signed contract" which directly gives Davis the right to hold Erica liable for damages. Erica failed to keep to her own end of the deal and Davis took it upon himself to actualize the terms of the contract. Erica is to settle Davis immediately or be ready to appear in court.
Answer:
COGS = $156800 ; Opereating Expenses = $223500 ; Gross Profit = $125300
Explanation:
COGS is direct manufacturing/ production expenses on goods produced. Operating Expenses includes all expenses (direct manufacturing & indirect sale expenses). Gross Profit is the excess of Net Sales over COGS
Cost of Goods Sold = Opening Stock + Net Purchases + Direct Expenses - Closing Stock
= 0+ [Wood purchases +Account Payable (credit purchase)] + [stain + labour costs (mantainence and carpenters) + factory utility costs+ manfacturing overhead] + 0
= 57800 +7100 + 12700 + 21300 + 36900 + 11200 + 9800
= 156800
Gross Profit = Net Sales - COGS
= [Sales Revenue + Accounts Receivables] - COGS
= 255000 + 27100 - 156800
= 125300
Opereating Expenses = Direct Expenses + Indirect Expenses
= [Wood purchases +Account Payable (credit purchase)+ stain + labour costs (mantainence and carpenters) + factory utility costs+ manfacturing overhead] + [Staff Salaries & Wages + Administrative Rent & Utilities + Marketing Costs]
= 57800 +7100 + 12700 + 21300 + 36900 + 11200 + 9800 + 37400 + 12000 + 17300
= 223500
{COGS is direct manufacturing/ production expenses on goods produced} {Opereating Expenses includes all expenses (direct manufacturing & indirect sale expenses)}
{Gross Profit is the excess of Net Sales over COGS
Answer:
C. Actual investment will equal planned investment only when there is no unplanned change in inventories
Explanation:
Planned investment is the total number of investment a firm intend to undertake during a given period of time usually a fiscal year while actual investment is the total number of investment the firm undertakes during the same lifespan of it's planned investment.
We can always have the both of them to be equal if there is no unplanned change in inventories.