Answer:
Patience could pay off because you could save money and could find you the better buy. Some repercussions are you could lose money or get scammed.
Explanation:
Answer:
calculates contribution margin while the absorption costing income statement calculates gross margin
focuses on fixed and variable expenses, while an absorption costing income statement focuses on period and product costs
Explanation:
variable costing income statement can be regarded as statement whereby all variable expenses are been removed from revenue so that separately-stated contribution margin can be gotten. And all fixed expenses are also removed so that net profit/ loss for that particular period can be known. While absorption costing income statement utilize absorption costing in creating
income statement.
Answer:
2020:
Sales revenue = Net Sales + Sales returns
= 345,615 + 13,790
= $359,405
Freight-In = Cost of goods sold - Beginning inventory - Purchases + Purchase returns + Ending inventory
= 252,735 - 34,400 - 260,690 + 43,065 + 7,410
= $8,120
2021:
Beginning inventory = Ending inventory 2020 = $43,065
Gross Profit on sales = Net sales - Cost of goods sold
= 396,103 - 292,523
= $103,580
Answer:
The price elasticity of supply is 0.0763 or 7.63%.
Explanation:
Price Elasticity of Supply shows response of quantity supplies to the price of the product supplied. Its Formula is as follow:
Price Elasticity of Supply = % change in supply / % change in price
Price Elasticity of Supply = (0.935% / 12.25%) x 100 = 7.63%
% Change in Supply = ( 100,935 - 100,000 ) /100,000 = 0.935%
% Change in Price = ( 449 - 400 ) / 400 = 12.25%