The factor that has the greatest impact on your credit score is

Consider ratios: financial information is presented below: find gross profit. operating expenses $ 45,000 sales returns and allo

Anon25 [30]

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

5 0

3 years ago

LO 8.5Which of the following is a possible cause of an unfavorable labor rate variance?

riadik2000 [5.3K]

Answer:

hiring higher-quality workers at a higher wage

Explanation:

Possible causes of unfavorable labor rate variances include:

An increase in pay for employees.

Working overtime hours paid at a premium above the basic rate.

Using direct labor employees who were more skilled and experienced than the ‘normal’ and who are paid more than the standard rate per hour (adverse rate variance).

Based on the above discussion, the answer is hiring higher-quality workers at a higher wage

6 0

3 years ago

Legazint, a law firm, organizes its staff into departments based on the type of clients the department deals with. These departm

Ksenya-84 [330]

Legazint most likely follows <u>b. a customer-based division</u>.

<u>Explanation:</u>

The customer-based division is generally followed in an organization to split the functional areas based on the customer demand. This is mainly followed due to increase in production and sales. The working departments are classified into separate categories.

In the above scenario, customer-based division is followed in the law firm. This was done for the facilitation of the clients. The staffs are organized into separate departments based on the client demands. The common departments are federally incorporated organizations, partnerships, corporations, sole proprietorship and limited liability companies.

6 0

2 years ago

You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1’s e

iVinArrow [24]

Answer:

group 1 Markup = 0.333

group 2 Markup = 0.25

group 1 price = $79.98

group 2 price = $75

Explanation:

given data

Group 1 elasticity of demand = -4

Group 2 elasticity of demand = -5

marginal cost = $60

to find out

optimal markups and prices under third degree price discrimination

solution

we get here Under Markup pricing that is for group 1 and 2 is

Markup is = $\frac{1}{- elasticity - 1}$ .....................1

so for group 1 Markup = $\frac{1}{- (-4) - 1}$

group 1 Markup = 0.333

and

for group 2 Markup = $\frac{1}{- (-5) - 1}$

group 2 Markup = 0.25

and

price will be

price = ( 1 + markup) × Marginal cost ...................2

group 1 price = ( 1 + 0.333 ) x 60

group 1 price = $79.98

and

group 2 price = ( 1 + 0.25 ) x 60

group 2 price = $75

5 0

2 years ago

Computing and Recording Interest Capitalization Bullock Company is constructing a building for its own use and has been capitali

jasenka [17]

Answer:

Bullock Company

a. The amount of interest to be capitalized = $405,000.

The amount of interest to expense = $105,975

b. Journal Entry:

January 1,

Debit Construction expenditure $2,520,000

Credit Cash $2,520,000

To record the expenditure incurred on this date.

February 1,

Debit Construction expenditure $2,295,000

Credit Cash $2,295,000

To record the expenditure incurred on this date.

March 31,

Debit Construction expenditure $3,285,000

Credit Cash $3,285,000

To record the expenditure incurred on this date.

March 31

Debit Construction expenditure $405,000

Credit Capitalized interest $405,000

To capitalize the interest for the quarter.

March 31

Debit Interest Expense $105,975

Credit Interest Payable $105,975

To record the interest expense for the quarter.

Explanation:

a) Data and Calculations:

First Quarter Expenditures:

Date Amount Weight Weighted-Average

January 1, $2,520,000 3/3 $2,520,000

February 1, $2,295,000 2/3 1,530,000

March 31, $3,285,000 0/3 0

Accumulated Weighted-Average expenditure = $4,050,000

Capitalized Interest = $4,050,000 * 10% * 1/4 = $405,000

Debts outstanding during the quarter:

Debt Amount Interest Expense

Note payable, 10%, incurred specifically

to finance construction $1,440,000 $0

Short-term note payable, 15% 2,250,000 $84,375

Mortgage note payable, 8% 1,080,000 $21,600

Total interest expense for the quarter $105,975

7 0

2 years ago