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
galina1969 [7]
3 years ago
10

Porches, Inc. sells lawn furniture. Selected financial information for the most recent year is as​ follows:Beginning merchandise

inventory on January 1 was $33,200.Ending merchandise inventory on December 31 was $35,000.Purchases during the year were $92,000.Selling and administrative expenses were $75,700.Sales for year were $262,900.What was operating income for the​ year?
Business
1 answer:
Hatshy [7]3 years ago
6 0

Answer:

The operating income for the​ year is $97,000

Explanation:

For computing the operating income, first, we have to calculate the cost of goods sold. The formula to compute the cost of good sold is shown below:

= Beginning merchandise inventory + Purchases during the year - Ending merchandise inventory

= $33,200 + $92,000 - $35,000

= $90,200

Now, the operating income would be

= Sales - the cost of good sold - selling and administrative expenses

= $262,900 - $90,200 - $75,700

= $97,000

You might be interested in
Question:
Vanyuwa [196]

Answer:

Received investment of cash by organizers and distributed to them 1,000 shares of $1 par value common stock with a market price of $40 per share

                                      Dr.            Cr.

Cash                            $40,000

Common stock @ 1                      $1,000

Add-In capital Common Stock   $39,000

Purchased $15,000 of equipment, paying $3,000 in cash and owing the rest on accounts payable to the manufacturer

                                      Dr.            Cr.

Equipment                 $15,000

Cash                                           $3,000

Account Payable                       $12,000

Borrowed $10,000 cash from a bank

                                      Dr.            Cr.

Cash                            $10,000

Bank Loan                                 $10,000

Loaned $800 to an employee who signed a note.

                                      Dr.            Cr.

Note Receivable      $800

Cash                                             $800

Purchased $13,000 of land paid $4,000 in cash and signed a mortgage note for the balance

                                      Dr.            Cr.

Land                            $13,000

Cash                                            $4,000

Mortgage Note Payable            $9,000

6 0
3 years ago
As part of his overall stock portfolio, jason bought a few shares of facebook. in this context, he would best be described as __
larisa86 [58]
<span>As part of his overall stock portfolio, Jason bought a few shares of Facebook. in this context, he would best be described as shareholder of facebook.</span>
5 0
3 years ago
Wrong Meds, Again! “It was horrible,” said the distraught client. “No matter how many times I provided the information, no one l
NemiM [27]

Answer:

Explanation:

no it will not happen agian because she learned from her mistake!

6 0
3 years ago
A product sells for $200 per unit and it’s variable costs are 65% of cells to fix cost of 420,000 what is the break even point i
11Alexandr11 [23.1K]
Fixed Costs:               420,000
Variable Costs:                 65%


Your BREAK-EVEN Point is: $1,200,000 USD or 600 Units @ $200 Each
5 0
2 years ago
Explain the difference between the concepts of Business Management and Technology Management. Provide examples.
Verizon [17]

Answer:

Explanation:

There is a difference between business management and technology management.

Business management refers to managing the organization's business perspective so that the direct business objectives of the organization is served.

Business management involves managing the domain, employees, looking after the business processes of an organization, etc. whereas

While technology management is used to make the business process simple and convenient through various aspects like managing the technical aspect of each and every business process and that is possible by having details about the technical aspects that are involved in all the business process of the organization.

For an organization to be successful it should possess all the required management techniques that include the business and technical aspects both.

Today the way of doing business has changed a lot and hence the organizations need to be quite diligent and effective in order to sustain and remain competitive in the industry.

8 0
3 years ago
Other questions:
  • When managing processes, it is vital that:
    6·1 answer
  • The funds used to purchase capital goods are called
    7·1 answer
  • The extent to which an innovation can be imitated by a competitor depends on
    10·1 answer
  • Assume that all of Thurmond Company’s sales are credit sales. It has been the practice of Thurmond Company to provide for uncoll
    5·1 answer
  • what is one way we could pay for things like roads, schools, or the sewer system without taxing the public?
    6·1 answer
  • Your sister has just been told that she will be given a $1,000 bonus next year. She is very eager to know its present value. So,
    11·1 answer
  • The accounting manager of Gateway Inns has noted that every time the inn's average occupancy rate increases by 3.3 percent, the
    10·1 answer
  • Please help!!
    7·1 answer
  • Jennifer receives an increase in her nominal income. She complains that the current inflation rate of five percent erodes the re
    7·1 answer
  • Financial statement analysis: Multiple Choice is primarily used to identify account values that meet the normal standards. is li
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!