1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
NISA [10]
3 years ago
6

Trust Construction builds custom houses for individual buyers. On April 1, it had one job, started with a beginning Work-in-Proc

ess of $70,000. During April the job was finished and sold. Direct labor for the job in April was $90,000 and direct materials used were $66,000. Overhead is computed at a rate of 55% of direct labor. There is a markup of 40% on all sales. What was the selling price of the house?
Business
1 answer:
RideAnS [48]3 years ago
7 0

Answer:

$385,700

Explanation:

Based on the information provided within the question we can say that the selling price of the house was that of $385,700 . This can be calculated by adding up all the prices provided plus the direct labor and markup like so.

Direct Labor: $90,000 * 0.55 = $49,500

Markup: 40% / 100 = 0.40 (percent to decimal) + 1 (to make it as an additional value) = 1.40

Price Before Markup: $70,000 + $90,000 + $66,000 + $49,500 = $275,500

Adding Markup: $275,500 * 1.40 = $385,700

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

You might be interested in
Sophia Company purchased equipment costing $120,000. The equipment has a residual value of $20,000 and an estimated useful life
mixer [17]

Answer:

Year 1 : $20000

Year 2 : $460000

Explanation:

Year 1 calculation:

120000-20000/50000*10000 =$20000

Year 2 calculation:

120000-20000/50000*23000=$46000

8 0
2 years ago
Sally wanted to replace the old carpet in her home. She entered into a contract with Good Carpet Co. for the purchase and instal
Olin [163]

Answer:

B)  The contract rules of the UCC apply, because the predominant purpose of the contract was sale of goods.

Explanation:

The contract doesn´t include in its mayor part provision of services. And Sally wanted to sue Good Carpet for the services that they provided, not for the good it sells.

5 0
3 years ago
Your aunt has promised to give you $5,000 when you graduate from college. You expect to graduate three years from now. If you sp
ikadub [295]

Answer:

The present value of the promised gift will:

be less than $5,000.

Explanation:

The present value of $5,000 to be received in three years' time from today is less than $5,000 received.  This is explained by the time value of money concept.  If the $5,000 gift is discounted to today's value, using a discount factor of 0.751 (10% in three years' time), it would be $3,755 ($5,000 * 0.751).  This means that $5,000 received in year 3 is less than $5,000 received today.

3 0
3 years ago
Western Country Corporation made sales of $ 850 million during 2018. Of this​ amount, Western Country collected cash for $ 710 m
trapecia [35]

Answer:

We have to find Western Country Corporation's net income, and cash balance at the end of 2018.

The answers are:

Net Income = $200 million

Ending cash balance = $100 million

Explanation:

Net income is equal to sales revenue - cost of goods sold - other expenses

Net Income = $850 million - $255 million - 425 million

                   = $200 million

Ending cash balance is equal to beginning cash + cash receipts (inflows) - cash payments (outflows)

Ending cash balance = $85 million + $710 million - $400 million - $285 million

                                   = $110 million

5 0
2 years ago
Steven Diaz just took a job with Harley Davidson. As part of his employment agreement, Harley Davidson required Steven to sign a
il63 [147K]

Answer:

Non-compete

Explanation:

A non-compete agreement is when an emoloyee agrees not to enter into or start a similar profession in competition against her employer.

Majority of agreements stipulated the length of time an employee isn't allowed to enter into or start a similar profession in competition against her employer.

I hope my answer helps you

5 0
3 years ago
Other questions:
  • Spencer Chemical Corporation produces an oil-based chemical product which it sells to paint manufacturers. In 2019, the company
    11·1 answer
  • Michelle, an Italian fashion designer, sells her merchandise by exporting it to the United States, United Kingdom, and Brazil. A
    8·1 answer
  • Activity-based costing strives to create an environment that
    8·1 answer
  • How will thinking on the margin help increase the chance of long-term success for your business, even if additional competition
    6·3 answers
  • he accounting records of Baddour Company provided the data below. Net loss $ 4,350 Depreciation expense 6,320 Increase in salari
    6·1 answer
  • What could have caused the aggregate demand curve to shift to the right from AD1 to AD2 an increase in exports an increase in im
    15·1 answer
  • Google has implemented employment policies like increasing the use of women interviewers for female job applicants and expanding
    7·1 answer
  • The Mixing Department of Complete Foods had 62,000 units to account for in October. Of the 62,000 units, 38,000 units were compl
    14·1 answer
  • On December 31, 2020, Nash Inc. has a machine with a book value of $958,800. The original cost and related accumulated depreciat
    14·1 answer
  • What is the difference between ancient trade and modern trade ​
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!