Answer:
$32,300
Explanation:
With regards to the above, the amount of total assets is the addition of current assets + Fixed assets.
= Accounts receivables + Cash + Truck equipment
= $7,000 + $7,300+ $8,000 + $10,000
= $32,300
Therefore ,
Total assets = $32,300
Answer:
18.5%
Explanation:
The formula to compute the average rate of return is shown below:
= Annual net income ÷ average investment
where,
Annual net income equal to
= Expected total net income ÷ number of years
= $240,000 ÷ 4
= $60,000
And, the average investment would be
= (Initial investment + salvage value) ÷ 2
= ($650,000 + $0) ÷ 2
= $4650,000 ÷ 2
= $325,000
Now put these values to the above formula
So, the rate would equal to
= $60,000 ÷ $325,000
= 18.5%
Answer:
COGS = $156800 ; Opereating Expenses = $223500 ; Gross Profit = $125300
Explanation:
COGS is direct manufacturing/ production expenses on goods produced. Operating Expenses includes all expenses (direct manufacturing & indirect sale expenses). Gross Profit is the excess of Net Sales over COGS
Cost of Goods Sold = Opening Stock + Net Purchases + Direct Expenses - Closing Stock
= 0+ [Wood purchases +Account Payable (credit purchase)] + [stain + labour costs (mantainence and carpenters) + factory utility costs+ manfacturing overhead] + 0
= 57800 +7100 + 12700 + 21300 + 36900 + 11200 + 9800
= 156800
Gross Profit = Net Sales - COGS
= [Sales Revenue + Accounts Receivables] - COGS
= 255000 + 27100 - 156800
= 125300
Opereating Expenses = Direct Expenses + Indirect Expenses
= [Wood purchases +Account Payable (credit purchase)+ stain + labour costs (mantainence and carpenters) + factory utility costs+ manfacturing overhead] + [Staff Salaries & Wages + Administrative Rent & Utilities + Marketing Costs]
= 57800 +7100 + 12700 + 21300 + 36900 + 11200 + 9800 + 37400 + 12000 + 17300
= 223500
{COGS is direct manufacturing/ production expenses on goods produced} {Opereating Expenses includes all expenses (direct manufacturing & indirect sale expenses)}
{Gross Profit is the excess of Net Sales over COGS
Answer:
Ending inventory in units= 194
Explanation:
Giving the following information:
The beginning inventory consisted of 76 units.
During the current month, the company purchased 478 units.
Sales during the month totaled 360 units.
<u>To calculate the number of units in ending inventory, we need to use the following formula:</u>
Ending inventory in units= total inventory - sales in units
Ending inventory in units= 554 - 360
Ending inventory in units= 194
