1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ira Lisetskai [31]
3 years ago
5

During 2020, Sarasota Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sarasota for

a lump sum of $131,670 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three types and the estimated selling price for each are listed below.Col1 Type Lounge chairs Armchairs Straight chairsCol2 No. of Chairs 880 660 1540Col3 Estimated Selling Price Each $90 80 50During 2020, Sarasota sells 440 lounge chairs, 220 armchairs, and 264 straight chairs.
What is the amount of gross profit realized during 2020? What is the amount of inventory of unsold straight chairs on December 31, 2020?
Business
1 answer:
vfiekz [6]3 years ago
8 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

Gross profit = Sales - Cost of goods sold

= (440 x 90 + 220 x 80 + 264 x 50) - (440 x 56.7 + 220 x 50.4 + 264 x 31.5)

= (39,600 + 17,600 + 13,200) - (24,948 + 11,088 + 8,316)

= 70,400 - 44,352

= $26,048

Ending inventory schedule attached in the excel archive

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
You might be interested in
Why do brands with a large market share spend proportionally less on advertising compared to brands with a small market share? D
Tju [1.3M]

Answer:

because their already known

Explanation:

7 0
3 years ago
A company pays its employees $4,250 each Friday, which amounts to $850 per day for the five-day workweek that begins on Monday.
BartSMP [9]

Answer:

$3,400

Explanation:

Out of five day workweek, accounting period ends on Thursday which indicates that employees work only for 4 days. Therefore, salaries are earned only for 4 working days and unpaid at the end of the accounting period

Salaries earned but unpaid= 4 working days * $850 per day = $3,400

Hence, salaries earned but unpaid at the end of the account period is $3,400

5 0
3 years ago
Which function is one that pertains to the Federal Reserve System?I. conducting fiscal policy.II. examining and supervising comm
Over [174]

Answer: yo mama

Explanation:

6 0
3 years ago
5. If you enter a road from a driveway, alley or roadside you must:
8_murik_8 [283]

Answer:

If you enter a road from a driveway, alley or roadside you must:

Yield to vehicles already on the main road.

Explanation:

The concept of right to way is supposed to be understand since there are no law that actually grants the right of way since it only states when the right of way is to be yielded. This concept has to be considered and well understood by all motorists to avoid conflict on roads. These conflicts often cause accidents which can lead to possible loss of life. Thus the rules governing right of way have to be taken very seriously to minimize the probability of accident.

In the following cases the right of way has to be yielded;

1. When one is at a yield sign for example; a stop sign

2. At a pedestrian crosswalk

3. At intersections that don't have traffic lights or where there is uncontrolled movement

4. At T intersections where one has to yield to motorists already on the main road

5. When one needs to turn left into the main road, one needs to yield to oncoming vehicles on the main road

6. One one is moving from a parking lot to the pavement

In our case, rule number four applies since one needs to enter from a driveway alley or roadside to the main road. This means that one on the driveway needs to yield to vehicles already on the main road.

3 0
3 years ago
Read 2 more answers
After assessing the market growth potential and market competitiveness in Mexico for his company's baby products, Harold wanted
Arturiano [62]

Answer:

After assessing the market growth potential and market competitiveness in Mexico for his company's baby products, Harold wanted to evaluate market access. To do this, Harold would consider ease of assessing or developing distribution channels and brand familiarity

<u>Explanation: </u>

Harold would, first of all, find out the ease in accessing the market. If he finds that it is easy to access the market or target the consumers than he will develop distribution channels. Distribution channels take lots of time and effort.

Than Harold will determine the brand familiarity which means he will make the consumers familiar with his company's baby products. Brand familiarity affects the consumer's information about the product.

5 0
3 years ago
Other questions:
  • 1. Gerald and Moira Johnson, are married taxpayers with two children, Michael and Oliver. Oliver lives with the Ryans and Michae
    9·1 answer
  • Joan is trying to decide if she wants to open her own hair​ salon, or buy an existing one. Curl Up and Dye is a very popular sal
    11·1 answer
  • Terapin Company engages in the following external transactions for November.
    8·1 answer
  • Channel members should be evaluated using all of the following criteria EXCEPT which one? A) economic factorsB) control issuesC)
    13·1 answer
  • An _________________ is calculated by subtracting the firm's costs from its total revenues, _______________________. *
    7·1 answer
  • Riley Company received a notice with its bank statement that the bank had collected a note receivable for $5,000 plus $150 of in
    8·1 answer
  • Harvey Hotels has provided a defined benefit pension plan for its employees for several years. At the end of the most recent yea
    12·1 answer
  • Why is the quality of standards/services of products usually low for a domestic business?
    9·1 answer
  • With respect to the selection tools that are used in processing applicants for a sales job:Group of answer choicesNone of these
    10·1 answer
  • In order to explain human behavior or make valid predictions, organizational behavior (ob) concepts must reflect: _______.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!