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Zina [86]
3 years ago
6

Hoover Company purchased two identical inventory items. The item purchased first cost $45.50. The item purchased second cost $50

.75. Then Hoover sold one of the inventory items for $70. Based on this information, the amount of:
Business
1 answer:
Eva8 [605]3 years ago
7 0

Answer:

The gross margin is $21.875

Explanation:

I think your question is missed of key information, allow me to add in and hope it will fit the original one.  

Based on this information, the amount of gross margin is:

My answer:

Given that:

  • first cost $45.50
  • second cost $50.75
  • one of the inventory items for $70

When using the weighted average method, you divide the cost of goods available for sale for the number of units available for sale, which brought the average cost weighted for each unit.

=> Weighted Cost = (44.5x 1) + (50.75 x 1)] / 2 = $48.125

=> Gross margin is: Sell price - Weighted Cost

$70 - $48.125 = $21.875

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Which of the following is least likely to be a factor in developing a sales forecast? a. Number of salespeople employed by the f
Usimov [2.4K]

Answer:

A. Number of sales people employed by the firm's major competitors.

Explanation:

A sales forecast is simply a process of evaluating future sales.  The number of sales people employed by a firms' competitor is not a factor to consider in developing a sales forecast. It has no influence in the actualization of a definitive sales forecast.

6 0
3 years ago
Firms that are _______ recognize that including a strong social orientation in business is a sound strategy that is in the best
nirvana33 [79]

Answer:

The correct answer is E. socially responsible

Explanation:

A company is socially responsible when it works attached to values and that within its business objectives includes supporting social, economic and environmental needs in order to optimize its competitive situation and its added value.

When a company is socially responsible, it does so by its own decision and not by taxation and its policies, strategies and practices are aimed at favoring its employees, suppliers, family, environment and environment.

The green paper of the European Commission states that "corporate social responsibility is the voluntary integration, by companies, of social and environmental concerns in their business operations and their relationships with all their partners."

7 0
3 years ago
Marilyn is age 66, if she receives a $15,000 taxable HSA distribution this year, what tax penalty, if any, will apply?
Arada [10]

Answer:

No penalty

Explanation:

The tax penalty is as follows

The HSA i.e. health saving account. It is opened so that the expenses related to the medical could be paid and the high health plan i.e. deductible  (HDHP) would not covered here

In the case when rules are not followed so there is a penalty of 20%

Given that the amount taxable is $15,000

So here the penalty would be

= $15,000 × 20%

= $3,000

But since Marilyn age is 66 so there is no penalty as the penalty would be applied till the age of 65

5 0
3 years ago
The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations: Jan. 20 Purchased 400 units
viva [34]

Answer:

WA      1,682

LIFO      910

FIFO  2,260

Explanation:

\left[\begin{array}{cccc}Date&Cost&Units&Subtotal\\$Jan 20th&8&400&3200\\$April 21th&10&200&2000\\$July 25th&13&280&3640\\$Sept 19th&15&90&1350\\$Total&10.51&970&10190\\\end{array}\right]

We add the units purchase and the subtotal to get the total units available for sale.

Ending inventory physical units: 970 - 810 = 160 units

<u>Then, we calculate for each method:</u>

Weighted average:

cost of goods / available units = 10,190 / 970 =  10.51

160 units x 10.51 = 1,681.6‬

LIFO:

Ending inventory will be the oldest units:

160 units x 8 = 960

FIFO:

Ending inventory will be the newest units as the units are sold as soon as they come in

90 x 15 =  1,350

70 x 13 =     910

Total       2,260

5 0
4 years ago
Suppose you were assigned the task of choosing a price that maximized economic surplus. What price would you​ choose? ​ Why? A.
mote1985 [20]

Answer:

C. Choose the price where the quantity demanded equals the quantity supplied because that is the equilibrium condition.

Explanation:

The equilibrium price is the most ideal because at this price the consume is willing to buy, if price goes above this the consumer may look for an alternative and this will further increase surplus.

Also when there is surplus the suppliers will find a way to sell competitively at the equilibrium price.

8 0
3 years ago
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