Answer:
$32,000
Explanation:
Cost of goods sold refers to all direct expenses incurred in producing goods and excludes all selling and indirect costs.
Cost of goods sold = Sales value - Gross Profit
Gross profit = Sales value - Direct costs - overhead costs
Gross profit per unit = $120 - ($50 + $ 20 + $10)
Gross profit per unit = $40 per unit
Gross profit in value = $40 per unit × No of units = $40 × 400 units = $16,000
Budgeted sales value = Selling price per unit × Budgeted sales units
= $120 × 400 chairs = $48000
Thus, budgeted cost of goods sold = Budgeted sales value - Gross Profit in value
= $48000 - $16000 = $32000
<u>Note</u>: While computing gross profit, selling and administrative expenses would be excluded since those are used while computing net income. Also, cost of goods sold excludes selling and administrative i.e . indirect costs.
It would be better when doing business .
Explanation:
A cost-of-living index is a theoretical price index that measures relative cost of living over time or regions. It is an index that measures differences in the price of goods and services, and allows for substitutions with other items as prices vary.
The definition of deficit is, A sum of money that is small. Also, this can mean a loss of money. Another definition is, the number of loses in sports. Or, individual. Hope this helps
Answer:
small business
Explanation:
Based on the company specifications that is provided about Raul's company the most appropriate representation of his firm would be a small business. This is the case because a small business is categorized as any business with one owner controlling and running a business with less than 100 employees. Seeing as Raul only has 21 brokers employed and is planning to expand his model nationally but has NOT yet done so, then he is the owner of a small business.
