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Pavel [41]
2 years ago
8

A company manufactured 50,000 units of a product at a cost of $450,000. It sold 45,000 units at $15 each. The gross profit is a.

$270,000 b.$240,000 c.$750,000 d.$600,000
Business
1 answer:
natali 33 [55]2 years ago
3 0

Answer:

The answer is A. $270,000

Explanation:

Gross profit is a measure of profitability. It can be derived by deducting cost of sales(cost of goods sold) from the net sales or revenue i.e Net sales(revenue) minus cost of sales:

Sales or Revenue: 45,000 units at $15

45,000 x 15

=$675,000

Cost of sales:

45,000units = ($450,000 / 50,000 units) × 45,000 = $405,000

Therefore, gross profit is:

$675,000 - $405,000

=$270,000

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An accounting clerk for Chesner Co. prepared the following bank reconciliation:
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Answer:

A. Adjusted balance $17,760

Adjusted balance $17,760

B. $17,760

Explanation:

A. Preparation of a new bank reconciliation for Chesner Co.

Cash balance according to bank statement l

$14,220

Add Deposit in transit on August 31 $6,690

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b. If a balance sheet were prepared for Chesner Co. on July 31, 2016, what amount should be reported for cash?

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You are planning to save for retirement over the next 25 years. To do this, you will invest $700 per month in a stock account an
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Answer:

withdraw each month is $6,902.37

Explanation:

given data

time = 25 year

invest = $700 per month

stock amount = $300 per month

expected rate = 9% = \frac{0.09}{12}

bond account = 5%

return =  6%

to find out

withdraw each month from account for 20 year withdrawal period

solution

we will apply here future value formula that is

FV = P \frac{(1+r)^t -1}{r}      ...............1

here P is principal amount i.e $700 given and r is are and t is time

so

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and

value of the bond account at retirement will be

value of the bond account =  300 \frac{(1+\frac{0.05}{12})^{25*12} -1}{\frac{0.05}{12}}  

value of the bond account = $178,652.91

and

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= $178,652.91+$784,785.36    = $963,438.27

so

monthly withdrawal from combined account is

amount = \frac{Pv}{\frac{1- \frac{1}{(1+r)^t}}{r} }      ...............2

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amount =  $6,902.37

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