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miv72 [106K]
3 years ago
9

Lucky Inc. reported sales revenue of $385,000, operating expenses of $65,000, and a net loss of $23,000 for the most recent fisc

al year. What amount did Lucky report for cost of goods sold
Business
1 answer:
Mademuasel [1]3 years ago
3 0

Answer:

$343,000

Explanation:

Given that,

Sales revenue = $385,000

Operating expenses = $65,000

Net loss = $23,000

Gross profit:

= Net loss + Operating expenses

= - $23,000 + $65,000

= $42,000

Cost of goods sold:

= Sales revenue - Gross profit

= $385,000 - $42,000

= $343,000

Therefore, the amount of cost of goods sold for the Lucky is $343,000.

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3 years ago
Producers' surplus is __________.
evablogger [386]

Answer:

the difference between the price a seller receives for a good and the minimum price for which he would have sold the good. 

Explanation:

Producer surplus is the difference between the price a seller sells her goods and the least price she would be willing to sell her goods.

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4 0
3 years ago
The Fremont Company uses the weighted-average method in its process costing system. The company recorded 42,500 equivalent units
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Answer:

Satrted                     36000

Explanation:

opening units     =   9300

Satrted                     36000

                                45300

Transferred              38000

Closing                     7300

Here is the quation

Opning units+Started-Transferred =  Closing units

Now put the values in equation

9300+Started-38000=7300

Started+28700=7300

Transfer the -28700 to left of the equation and change the sign in + due to transfer

Started =7300+28700

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8 0
3 years ago
Since 2005, publicly traded companies in the European Union have been required to use IFRS in preparing their consolidated finan
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Answer:

Comparability of Financial Statements in different jurisdictions

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Boris Jasper is the manager of an auto parts division for a large auto parts supplier. The division makes dampers and oil pumps.
shepuryov [24]

Answer:

a) Raise the sales revenue.

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ROI increases when the  Divisional Profit Contribution increased and Assets Employed in the Division are reduced.

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3 years ago
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