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Andre45 [30]
3 years ago
9

Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit margin (ratio of gross profit t

o sales)? 55% 65% 73.3% 35%\
Business
1 answer:
Strike441 [17]3 years ago
6 0

Answer:

The gross profit margin of Candy Company is 65% (second option)

Explanation:

The gross profit margin is defined as:

Mg = (sales - costs) / price of sales  

If for Candy Company the cost are $112,000 and sales $320,000 then the gross profit margin is:

Mg = ($320,000- $112,000) * 100% / $320,000  =  

Mg = $208,000 * 100% / $320,000  =  0.65 * 100%

Mg  =  0.65 * 100%  

Mg  =  65%  

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When manufacturing overhead costs are assigned to production in a process cost system, it means that
Colt1911 [192]

Answer:

<em>When manufacturing overhead costs are assigned to production in a process cost system, it means that the business uses absorption costing system.</em>

Explanation:

When manufacturing overhead costs are assigned to production in a process cost system, it means that the business uses absorption costing system.

Absorption costing system is that where units of products and inventories are valued using full cost. Full cost implies that each product would be charged for an amount of the<em> fixed production overhead </em>in addition to the variable cost.

The fixed overhead is charged using a predetermined overhead absorption rate.

8 0
3 years ago
Gelb Company currently manufactures 43,000 units per year of a key component for its manufacturing process. Variable costs are $
Mashutka [201]

Answer:

It is cheaper to buy the component. At this level of production by $40,750.

Explanation:

Giving the following information:

Production= 43,000 units

Variable costs are $2.95 per unit

Avoidable Fixed costs= $73,000 per year

Unavoidable fixed costs= $77,500 per year.

The company is considering buying this component from a supplier for $3.70 per unit.

We need to calculate the cost of producing and buying and choose the best option.

Production:

Total cost= 43,000*2.95 + 73,000= $199,850

Buy:

Total cost= 43,000*3.7= $159,100

It is cheaper to buy the component. At this level of production by $40,750.

8 0
3 years ago
World trade has grown substantially in the last 60 years. For example, while world output grew at an annual rate of 3.8% per yea
3241004551 [841]

Answer:

b.Increases in the global population

c.Services such as web conferencing and teleconferencing that facilitate international meetings.

d.International trade agreements such as the North American Free Trade Agreement (NAFTA).

Explanation:

As the countries increase their trade with free trade agreement like NAFTA or the Eurozone which enables to a higher transactions of factors between countries like labor, capital and goods.

Also better communications method facilitate to build trust between parties thus, making trade more feasible.

More population enables more people willing to trade as well.

7 0
3 years ago
Timmy Company's comparative balance sheet at January 31, 2017, and 2016. reports the following (in millions):
Irina-Kira [14]

Answer:

The Accounting Equation states that;

Assets = Liabilities + Equity

Equity as at 2016 = Assets - Liabilities

= 50 - 13

= $37 million

Equity as at 2017 = Assets - Liabilities

= 77 - 18

= $59 million

1. Timmy issued $13 million of stock and declared no dividends.

<em>The Net Income ( loss) will be the figure that gives the Statement of Equity a figure of $59 million.</em>

Net Income = Total stockholders' equity, January 31, 2017 - Total stockholders' equity, January 31, 2016  - Issuance of stock

= 59 - 37 - 13

= $9 million

Total stockholders' equity, January 31, 2016  ................ 37

Add: Issuance of stock ......................................................... 13

Net income  ......................................................................9

Less: Dividends declared......................................................0

Net loss.......................................................................................0

Total stockholders' equity, January 31, 2017...................59

2. Timmy issued no stock but declared dividends of $17 million.

Net Income (loss) = Total stockholders' equity, January 31, 2017 - Total stockholders' equity, January 31, 2016  + Dividends Declared

= 59 - 37 + 17

= $39 million

Total stockholders' equity, January 31, 2016  ................ 37

Add: Issuance of stock ......................................................... 0

Net income  ......................................................................39

Less: Dividends declared......................................................(17)

Net loss.......................................................................................0

Total stockholders' equity, January 31, 2017...................59

3. Timmy issued $20 million of stock and declared dividends of $27 million.

Net Income (loss) = Total stockholders' equity, January 31, 2017 - Total stockholders' equity, January 31, 2016  + Dividends Declared -  Issuance of stock

= 59 - 37 + 27 - 20

= $29 million

Total stockholders' equity, January 31, 2016  ................ 37

Add: Issuance of stock ......................................................... 20

Net income  ......................................................................29

Less: Dividends declared......................................................(27)

Net loss.......................................................................................0

Total stockholders' equity, January 31, 2017...................59

7 0
3 years ago
Kyoko is managing a team of people who are working on a critical project. she wants to use positive reinforcement, but the days
Harrizon [31]

Kyoko needs to find the time.

When people’s days are busy they need to prioritize their tasks and do the ones that are the most important. Kyoko needs to make the use of positive reinforcement one of their priorities for the day. Another thing to consider is doing positive reinforcement while doing something else. For instance, praising the quality of someone’s work while doing another task.

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3 years ago
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