What is it called when a producer is unable to meet the demand of a certain product?

Presented below are the components in Gates Company’s income statement. Determine the missing amounts. Sales Revenue Cost of Goo

Mumz [18]

Answer:

(a) $52,300; $9,200

(b) $33,600; $10,000

(c) $162,300; $39,500

Explanation:

(a) Sales Revenue = $82,400

Cost of Goods Sold = ?

Gross Profit = $30,100

Operating Expenses = ?

Net Income = $20,900

Gross profit = Sales revenue - Cost of goods sold

$30,100 = $82,400 - Cost of goods sold

Cost of goods sold = $82,400 - $30,100

= $52,300

Net income = Gross margin - Operating expenses

Operating expenses = Gross margin - Net income

= $30,100 - $20,900

= $9,200

(b) Sales Revenue = $110,600

Cost of Goods Sold = $77,000

Gross Profit = ?

Operating Expenses = ?

Net Income = $23,600

Gross profit = Sales revenue - Cost of goods sold

= $110,600 - $77,000

= $33,600

Operating expenses = Gross margin - Net income

= $33,600 - $23,600

= $10,000

(c) Sales Revenue = ?

Cost of Goods Sold = $75,100

Gross Profit = $87,200

Operating Expenses = $47,700

Net Income = ?

Gross profit = Sales revenue - Cost of goods sold

Sales revenue = Gross profit + Cost of goods sold

= $87,200 + $75,100

= $162,300

Net income = Gross margin - Operating expenses

= $87,200 - $47,700

= $39,500

4 0

3 years ago

The company has an unadjusted debit balance in Accounts Receivable of $25,000 and an unadjusted credit balance of $10 in Allowan

KATRIN_1 [288]

Answer:

Date Description Dr. Cr.

Dec 31 Sales discounts $200

Allowance for sales discounts $200

Explanation:

Expected sales discounts. $10,000 × 2% = $200

As the discount is expected and according to the accrual accounting concept the expenses accrued or expected to incurred should be recorded in the period in which revenue of that expense is recorded. Discount of 2% is expected to be availed by the customer amounting sales of $10,000. and it will be availed after year end as discount period will end after year end.

3 0

3 years ago

Jensen is 25 years old, and he will be starting his career as a business analyst. According to Levinson, Jensen is in the _____

Svet_ta [14]

Based on the research studies and situation described, according to Levinson, Jensen is in the Novice phase of adult development.

Daniel Levinson was a famous researcher whose interest centered on different stages of life from childhood to old age.

Daniel Levinson concluded that early adulthood lies between the ages of 17 to 45.

This early adulthood is then categorized into two, the novice phase between 17 to 33 and the culminating phase, which is between 33 to 45.

Thus, given that Jensen is 25, it is concluded that according to Levinson, Jensen is in the Novice phase of adult development.

Hence, in this case, it is concluded that the correct answer is "Novice."

Learn more here: brainly.com/question/1578703

6 0

2 years ago

Before, during, and after a sale, a selling strategy must focus on

Alenkasestr [34]

Before, during, and after a sale, a selling strategy must focus on meeting a customers needs.

It is important when you are trying to sell a product or service to someone, that they see the benefits themselves. As a sales person your job is to make sure the product you have is meeting the customers needs fully because if they don't see that, they won't make the purchase. As a customer, whenever I buy a product I run down a list of ways it will benefit me or why I need it.

4 0

3 years ago

Emily works in the stockroom at a retail store for $10/hour on Saturdays. The store is within near walking distance of her home.

frosja888 [35]

Answer:

Correct options

A.) the $4 in direct costs she would spend to drive to and from her babysitting job:

Emily will have to spend $2 to and $2 on gas for the babysitting job. She will have to consider if she can bear the additional cost compared to the other job opportunity.

B.) the opportunity costs of not working at the store on a Saturday when she babysits:

When Emily is babysitting she has to consider the opportunity cost of working at the retail store. The fact the she will not have to drive to work, instead working at a place close to her home.

Incorrect option

C.) the cost of clothes and personal items (e.g., phone) Emily uses during babysitting:

On both jobs Emily will incur cost of clothing and other personal items, so this is not a cost she should be considering in making a decision between the two jobs.

4 0

3 years ago