Answer:
a) 25,000
Explanation:
The computation of the economic profit is shown below;
Economic profit is
= Revenue - Explicit cost - Implicit cost
= $550,000 - $500,000 - $500,000 × 5%
= $550,000 - $500,000 - $25000
= $25,000
Hence, the economic profit on this deal was $25,000
Therefore the correct option is a.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
the answer is D. convenience products
Explanation:
convenient products are much cheaper and consumers usually look for them by the brand, or sometimes, these products are homogenous in nature, so people would just go and buy it rather than comparing different products and prices.
Answer:
$17,820
Explanation:
Data provided in the question:
Catalog price of the merchandise = $30,000
Trade discount received = 40%
The amount of discount received = 40% of $30,000
= 0.4 × $30,000
= $12,000
Therefore,
Cost of Merchandise = Catalog price - Discount
= $30,000 - $12,000
= $18,000
also,
credit terms = 1/10, n/30
since, the payment was made within the discount period
1% of discount will be provided
thus,
amount of discount = 1% of cost of merchandise
= 0.01 × $18,000
= $180
hence,
Net cost of the merchandise
= Cost of merchandise - Discount on credit terms
= $18,000 - $180
= $17,820
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Purchases:
40 units at $100·
70 units at $80·
170 units at $60
Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year.
First, we need to calculate the average purchase cost.
Average cost= (100*40 + 80*70 + 60*170)/280= $70.7
Now, we can calculate the value of ending inventory:
Inventory= $70.7*10= $707
Olivia Johnson makes $125,000 a year as an exempt employee. if Olivia was paid on a biweekly basis her gross pay would be $ 5208.33.
<h3>What do you mean by Gross pay?</h3>
Before any deductions are done, a person's gross pay is their total earnings for a specific time period. Deductions such as mandated taxes and Medicare contributions, as well as deductions for company health insurance or retirement funds, are not taken into account when calculating gross pay. The gross pay definition differs from the net pay definition in that it does not include an individual's take-home pay.
The formula to calculate gross pay is mentioned below:
Net pay plus taxes and deductions equal gross pay.
To know more about Gross Pay, visit:
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