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
igomit [66]
4 years ago
8

According to the textbook readings, if Net sales for the towel department were $1,150,000. Billed cost of merchandise was $888,0

00. Shipping charges were $5,460 and the buyer negotiated a discount of 5%. What were the gross margin dollars and percentage for the towel department ?
Business
1 answer:
SpyIntel [72]4 years ago
6 0

Answer:

Gross Margin Dollar = $ 262,000

Gross Margin as Profit = $ 262,000/1150,000  *100= 22.78

Explanation:

Net sales for the towel department            $1,150,000.

Cost of merchandise                                     $888,000.

Gross Profit                                                     $262,000

Shipping charges                                            $5,460

Discount 5%.                                                    $ 57500

Net Profit                                                          $ 199040

Without sufficient gross profit a merchandiser will likely fail.

Gross Margin Dollar = $ 262,000

Gross Margin as Profit = $ 262,000/1150,000  *100= 22.78

For every dollar in sales the company has  more 22 cents left over to cover the expenses.

You might be interested in
Pestiferous Manufacturing produces a chemical pesticide and uses process costing. There are three processing departmentslong das
statuscvo [17]

Answer:

C. $ 32,742

Explanation:

The cost per equivalent unit were $ 1.35 for direct materials and $ 5.20 for conversion costs.

The Ending Work In Process has Equivalent Units  9000 complete as to materials and 44% complete as to Conversion Costs.

So the costs will be

Materials = 9000 *100% * $ 1.35 = $ 12150

Conversion = 9000 * 44% * 5.20 = $ 20592

Total Costs $ 32742

The Ending Work in Process costs are found by multiplying the unit costs with the Equivalent number of units multiplied with the percentage of completion.

5 0
3 years ago
How did the shift to steam power lead to the growth of cities?
MA_775_DIABLO [31]
The shift to steam power contributed to the growth of cities in many way. Firstly, it provides a continuous source of power to industries, which leads to high level of productivity. The availability of jobs in the industries makes the people in the rural areas to migrate to the cities in search of greener pastures. Steam power also created a new and efficient means of transportation which make it possible to move people and goods over long distances in record time.
7 0
3 years ago
1. What does reconciling an account involve?
kondaur [170]

1. The answer is<u> "A. checking one's financial records against the bank’s".</u>


Reconciling an account frequently implies demonstrating or reporting that a record balance is right. For instance, we accommodate the parity in the general record account Cash in Checking to the equalization appeared on the bank articulation. The goal is to report the right sum in the general record account Cash in Checking. You will regularly need to modify the general record account balance for things showing up on the bank explanation that were not entered in the general record account.  


2. The answer is <u>"b. They last for a set period of time".</u>


A certificate of deposit (CD) is a funds declaration with a settled development date and indicated settled financing cost that can be issued in any category beside least venture necessities. A CD confines access to the assets until the point that the development date of the venture. Certificates of deposit are for the most part issued by commercial banks and are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per person.  


5 0
3 years ago
Read 2 more answers
At year-end (December 31), Chan Company estimates its bad debts as 0.50% of its annual credit sales of $823,000. Chan records it
Rudiy27

Explanation:

The journal entries are as follows

On December 31

Bad debt expense Dr  $4,115        ($823,000 × 0.50%)

       To Allowance for doubtful debts  $4,115

(Being the bad debt expense is recorded)      

On Feb 01

Allowance for doubtful debts Dr $412

      To Account receivable $412

(Being the uncollectible amount is recorded)

On June 5

Account receivable $412

          To Allowance for doubtful debts Dr $412

(Being the  uncollectible amount is recorded)

On June 5

Cash Dr $412

   To Account receivable $412

(Being the cash received is recorded)

5 0
3 years ago
Concepts like value and relationship marketing are important in designing a marketing program because such a program is what con
Andre45 [30]

Answer:

<em>Concepts like value and relationship marketing are important in designing a marketing program because such a program is what connects an organization to </em><em><u>it's costumer</u></em>

8 0
3 years ago
Other questions:
  • Eliminating the queue of work dramatically quickens the time it takes apart to flow through the system. What are the disadvantag
    14·1 answer
  • What do you call an agreement made between different companies to charge the same amount for products?
    8·2 answers
  • Which of these is NOT considered a critical contextual factor in project management? A. Organizational culture B. Organizational
    13·1 answer
  • Abraham drinks Mountain Dew. He can buy as many cans of Mountain Dew as he wishes at a price of $0.55 per can. On a particular d
    11·1 answer
  • Suppose a 10-year, $1000 bond with an 8% coupon rate and semiannual coupons is trading for $1034.74. What is the bond’s yield to
    9·1 answer
  • Would johnny sins still be famous if he was a girl? (WILL GIVE BRAINLIEST)
    8·2 answers
  • Na frase, "Você fez o que eu pedi pra você fazer, Zero?" Identifique um verbo no pretérito perfeito e faça sua conjugação abaixo
    5·1 answer
  • Companies use lots of different strategies to market their products. Many companies have found that supporting relevant charitie
    11·1 answer
  • The quantity of money demanded rises (that is, there is a movement along the money demand curve) when:
    6·1 answer
  • Night talking time. Everyone allowed!
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!