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3 years ago

You purchase a new stereo at a local electronics store and decide to pay using your credit card. You

Business

1 answer:

S_A_V [24]3 years ago

3 0

Answer:

D. 0% interest for 1 year and 12% interest after that

Explanation:

Since you are purchasing a new stereo and will be paying it off within a year, it will be best to choose a credit card that charges the lowest interest rate in the first year. This will be the one with 0% interest rate for the first year; choice D. After you use it , fully pay off the amount and you can cancel your credit card so you don't get charged the 12% interest rate from year 2 going forward.

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The consumer price index measures: ____________.a. The prices of a fixed basket of goods and services in the United States b. Th

lana66690 [7]

Answer:

c. The average change in prices of a fixed basket of goods and services of urban consumers

Explanation:

It is a measure of the average change over time in the price paid by urban households for a set of consumer goods and services. It reflects the spending patterns of each of two population groups: all-urban consumers and urban wage earners and clerical workers, which include professionals, the self-employed, the unemployed, and poor persons.

7 0

3 years ago

What is target costing? A. Designing a product, then determining its cost and price B. Basing price on customer perceptions of

aivan3 [116]

The answer would be (D); Setting acceptable costs and then setting the price.

7 0

3 years ago

Low Carb Diet Supplement Inc. has two divisions. Division A has a profit of $199,000 on sales of $2,340,000. Division B is able

mojhsa [17]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Division A has a profit of $199,000 on sales of $2,340,000. Division B is able to make only $32,500 on sales of $368,000

Gross profti margin= gross profit/revenue

Division A:

Gross profit margin= 199,000/2,340,000= 0.085= 8.5%

Division B:

Gross profit margin= 32,500/368,000= 0.088= 8.8%

5 0

3 years ago

Cooper Company currently uses the FIFO method to account for its inventory but is considering a switch to LIFO before the books

VLD [36.1K]

Answer:

Cooper Company

1. FIFO:

Current ratio

= 3.15

Inventory turnover ratio

= 1.34

Rate of return on operating assets

= 12%

2. LIFO:

Current ratio

= 2.85

Inventory turnover ratio

= 1.73

Rate of return on operating assets

= 12.8%

Explanation:

a) Data and Calculations:

Merchandise inventory, January 1 $1,430,000

Current assets 3,603,600

Total assets (operating) 5,720,000

Cost of goods sold (FIFO) 2,230,800

Merchandise inventory, December 31 (LIFO) 1,544,400

Merchandise inventory, December 31 (FIFO) 1,887,600

Current liabilities 1,144,000

Net sales 3,832,400

Operating expenses 915,200

FIFO

Merchandise inventory, December 31 (FIFO) $1,887,600

Cost of goods sold (FIFO) 2,230,800

Goods available for sale $4,118,400

Merchandise inventory, January 1 1,430,000

Purchases $2,688,400

LIFO:

Goods available for sale $4,118,400

Merchandise inventory, December 31 (LIFO) 1,544,400

Cost of goods sold (LIFO) $2,574,000

Income Statements FIFO LIFO

Net sales $3,832,400 $3,832,400

Cost of goods sold (FIFO) 2,230,800 2,574,000

Gross profit $1,601,600 $1,258,400

Operating expenses 915,200 915,200

Net income $686,400 $343,200

Merchandise inventory, December 31 (LIFO) 1,544,400

Merchandise inventory, December 31 (FIFO) 1,887,600

Difference between FIFO and LIFO = 343,200

FIFO Difference LIFO

Current assets 3,603,600 343,200 3,260,400

Total assets (operating) 5,720,000 343,200 5,376,800

Cost of goods sold (FIFO) 2,230,800 2,574,000

Merchandise inventory, January 1 1,430,000 1,430,000

Merchandise inventory, December 31 1,887,600 1,544,400

Current liabilities 1,144,000 1,144,000

Average inventory 1,658,800 1,487,200

FIFO:

Current ratio = current assets/current liabilities

= $3,603,600/$1,144,000 = 3.15

Inventory turnover ratio = Cost of goods sold/Average Inventory

= $2,230,800/$1,658,800

= 1.34

Rate of return on operating assets = Net income/Total assets * 100

= $686,400/$5,720,000 * 100

= 12%

LIFO:

Current ratio = $3,260,400/$1,144,000

= 2.85

Inventory turnover ratio = $2,574,000/$1,487,200

= 1.73

Rate of return on operating assets = $686,400/$5,376,800 * 100

= 12.8%

3 0

3 years ago

What kind of interest group represents different facets of business interests?

kogti [31]

I would say that it would simply be a businessman's interest group or an association such as the Association of Mineral Exploration in the province of British Columbia, Canada that is an advocacy group for the businessmen to ensure they get the ear of the provincial government and so they can be a lobby group too.

4 0

3 years ago