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My name is Ann [436]
3 years ago
14

A firm operated at 80% of capacity for the past year, during which fixed costs were $210,000, variable costs were 70% of sales,

and sales were $1,000,000. Operating profit was: Group of answer choices $90,000 $210,000 $590,000 $490,000 Flag this Question Question 3
Business
1 answer:
Fittoniya [83]3 years ago
5 0

Answer:

The answer is: $90,000

Explanation:

We must first determine the cost of goods sold:

  • COGS = variable costs = 70% x 1,000,000
  • COGS = $700,000

I will assume all fixed costs are operating expenses.

Then we elaborate a simple income statement:

Sales                           $1,000,000

<u>COGS                           ($700,000)   </u>

Gross profit                   $300,000

<u>Operating expenses    ($210,000)   </u>  

Operating profit             $90,000

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During a strike by the United Steelworkers of America in 2010, Honeywell claimed that the union left nails in the plant parking
Snowcat [4.5K]

Answer:

injunction

Explanation:

  • A prohibition is a legal and equitable remed in the form of a special court order that compels the party to commit or reject certain action. "When a court appoints an extraordinary injunction, it sets forth the conduct of one party and does so with the support of its full powers."
  • A party who fails to comply with the ban will face criminal or civil penalties, including criminal sanctions and imprisonment. He can also be charged in a contempt of court case.
  • These are the situations where you can ask the criminal party to stop doing things that hurt and hurt you. However, there are cases where asking does not solve the problem. In such a case, you may want to go to court and ask the judge to intervene in the situation and to treat the offending party as problematic. To do this, you file an injunction.
6 0
3 years ago
Sally, Greg, John, and Amar are working on a project for a customer that is aimed at cutting the client's electrical costs. The
vodomira [7]

Answer: Virtual organization

Explanation:

Virtual organization is a firm of organization whereby the members or the employees are geographically apart and not at the same place and therefore communicates by using their e-mails, phones, collaborative computing, or any other means of communication.

The virtual organization is what is being used by Sally, Greg, John, and Amar in the question above.

7 0
3 years ago
A. Finance, or financial management, requires the knowledge and precise use of the language of the field.
Sergio [31]

Answer:

1. Amortization Schedule.

2. Amortized loan.

3. Annual Percentage rate.

4. Discounting.

5. Future Value.

6. Opportunity cost of funds.

7. Time value of money.

8. Annuity due.

9. Perpetuity.

10. Ordinary annuity.

11. PMT/r.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).

Some of the financial terminologies used in financial accounting are;

1. <u>Amortization Schedule</u>: A schedule or table that reports the amount of principal and the amount of interest that make up each payment made to repay a loan by the end of its regular term.

2. <u>Amortized loan</u>: A loan in which the payments include interest as well as loan principal.

3. <u>Annual Percentage rate</u>: A value that represents the interest paid by borrowers or earned by lenders, expressed as a percentage of the amount borrowed or invested over a 12-month period.

4. <u>Discounting</u>: A process that involves calculating the current value of a future cash flow or series of cash flows based on a certain interest rate.

5. <u>Future Value</u>: The name given to the amount to which a cash flow, or a series of cash flows, will grow over a given period of time when compounded at a given rate of interest.

6. <u>Opportunity cost of funds</u>: A 6% return that you could have earned if you had made a particular investment.

7. <u>Time value of money</u>: A concept that maintains that the owner of a cash flow will value it differently, depending on when it occurs.

8. <u>Annuity due</u>: A series of equal cash flows that occur at the beginning of each of the equally spaced intervals (such as daily, monthly, quarterly, and so on).

9. <u>Perpetuity</u>: A cash flow stream that is generated by a share of preferred stock that is expected to pay dividends every quarter indefinitely.

10. <u>Ordinary annuity</u>: A series of equal cash flows that occur at the end of each of the equally spaced intervals (such as daily, monthly, quarterly, and so on).

11. Time value of money calculations can be solved using a mathematical equation, a financial calculator, or a spreadsheet. The equation which can be used to solve for the present value of a perpetuity is given below;

Present value of a perpetuity (PV) = PMT/r

Where;

  • PMT represents the payment amount.
  • r represents the annual interest rate.
3 0
3 years ago
Which of the following is a criterion that must be met in order for an item to be recognized as an intangible asset?
Amiraneli [1.4K]

Answer:

The item is identifiable and lacks physical substance.

Explanation:

Intangible asset: Intangible asset is that asset which cannot be seen or even touched. It has no physical existence.

Example: Goodwill, patents, trademarks, copyrights and other intellectual properties

In these types of assets, amortization is charged instead of depreciation.  

It neither used for production, nor its gains any scientific or technical knowledge, and its value neither measure reliability

Hence, option a is correct  

3 0
3 years ago
Backflush costing is a costing method that: Charges current production costs directly to finished goods inventory. Charges curre
pychu [463]

Answer:

Charges current production cost directly to work-in-process inventory

Explanation:

The blackflush costing is the costing method in which the present cost of production would be charged to the work in process inventory in a direct way

Therefore as per the given situation the second option is correct

ANd, the rest of the options are wrong as it does not meet the criteria

So the second option would be taken into consideration

7 0
3 years ago
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