Answer:
$1,960
Explanation:
Complete Questin:
Fosnight Enterprises prepared the following sales budget:
Month Budgeted Sales
March $6,000
April $13,000
May $12,000
June $14,000
The expected gross profit rate is 30% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?
Sales = 100% – 30%
Gross Profit = 70%
Cost of Goods Sold (CGS)
Therefore, June Sales= $14,000 × 70%
= 9,800 (CGS) × 20%
= $1,960
Gross Profit is calculated by deducting the cost of goods sold, sales return and sales discount from the sales. The operating expenses is not considered for gross profit. The same is deducted from the gross profit for finding the net profit.
Gross Profit = Sales - Cost of goods sold - Sales Return - Sales Discount
Gross Profit = $150,000 - $67,000 - $13,000 - $6,000
Gross Profit = $150,000 - $86,000
Gross Profit = $ 64,000
Thus, gross profit is $64,000
Answer: Conformity
Explanation: Ethics trap refers to the situation in which an individual finds difficult to assess what is morally correct for him or her and what is not.
Conformity refers to the ability of an individual to match the customs and beliefs of a group to mingle with that particular group.
In the given case, Jamal has been working in the company where all the members have been cheating on their accounts except for him. This urges Jamal to do the same for being a part of group.
Hence we can conclude that the correct option is C.
The company’s earnings per share would still be based on the
common shares outstanding of 9,500. This is because the 4,500 selling
transaction is not yet accounted for that last accounting period. Therefore,
Earnings per share = $33,250 / 9,500 shares
Earnings per share = $3.5 per share
Answer:
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