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
MrRissso [65]
3 years ago
8

Swenson Oil​ & Gas allows its customers to prepurchase heating oil in June for the coming winter. Customers who took advanta

ge of the offer prepurchased​ 400,000 gallons of oil at​ $3.50 per gallon. Swenson hedged its position by contracting to purchase​ 400,000 gallons of oil for November delivery at a price of​ $3.00 per gallon. If the November spot price is​ $3.85 per​ gallon, Swenson's gross profit on the heating oil sold in June will be
Business
1 answer:
Kaylis [27]3 years ago
5 0

Answer:

$200,000

Explanation:

The calculation of gross profit on the heating oil sold in June is shown below:-

Gross profit = Prepurchased × (Prepurchased per gallon - Delivery at a price)

= 400,000 gallon × ($3.50 per​ gallon - $3.00 per gallon)

= 400,000 gallon × $0.5

= $200,000

Therefore for computing the gross profit on the heating oil sold in June we simply applied the above formula.

You might be interested in
The decision to innovate
sukhopar [10]

Answer:

D hope that helps you out

7 0
3 years ago
No more than 10% of your monthly income should go toward credit card payments.. . false. . true.
evablogger [386]
FALSE.  Pay down the credit card, 100%,  FIRST because it's probably the most expensive credit you have. Don't put things on the credit card that you won't be able to pay for this month.
4 0
3 years ago
Read 2 more answers
The most recent financial statements for Live Co. are shown here: Income Statement Balance Sheet Sales $4,400 Current assets $4,
hram777 [196]

Answer:

3.88%

Explanation:

ROA = Net income/Total assets

ROA = $972/$16,127

ROA = 0.0602716

ROA = 6.03%

Retention ratio = 1 - Payout ratio

Retention ratio = 1 - 0.38

Retention ratio = 0.62

Internal growth rate = (ROA*Retention ratio) / [1 - (ROA*Retention ratio)]

Internal growth rate = 0.0602716*0.62 / 1 - (0.0602716*0.62)

Internal growth rate = 0.037368392 / 1-0.037368392

Internal growth rate = 0.037368392/0.962631608

Internal growth rate = 0.038818995

Internal growth rate = 3.88%

3 0
3 years ago
Holden, a buyer for a medium-sized company, is assessing the value of competing software products for use in his firm. Which wou
Alchen [17]

Answer:

Higher price than competitor with lower quality

Explanation:

Higher priced goods with lower or same quality than competitor is not a customer benefit because the customer can get it cheaper from the businesses competitor

3 0
3 years ago
Fortune Company had sales during July 20X3 of $29,000. During the month, the company had purchases of $17,000. At July 1, 20X3,
mart [117]

Answer:

$4,100

Explanation:

In this question ,we apply the income statement equation

Opening stock + Purchase + Gross profit = Sales + Closing stock

$4,500 + $17,000 + $11,600 = $29,000 + Closing stock

$33,100 = $29,000 + Closing stock

So, the closing stock would be

= $33,100 - $29,000

= $4,100

The gross profit is computed below:

= Sales × gross profit percentage

= $29,000 × 40%

= $11,600

6 0
4 years ago
Other questions:
  • If an executive or department head practices a laissez-faire approach to management, she is _____.
    11·2 answers
  • When preparing her monthly budget, marge kent has a total spending allowance of $4,600. each month she pays $1,200 in rent, $60
    13·1 answer
  • Joanne and ed greenwood built a new barn with an attached arena. to finance the loan, they paid $1,307 interest on $45,000 at 4.
    10·1 answer
  • Reagan is a new HR manager for a large company. She is concerned about the number of employees leaving the company and the lack
    8·1 answer
  • Nova Electrics anticipates cash flow from operating activities of $12 million in 20X1. It will need to spend $9.5 million on cap
    5·1 answer
  • A struggling company currently has a total value of $700,000. It owes $500,000 from debt financing (assume these are loans from
    15·1 answer
  • Nash Corporation has outstanding 343,000 shares of $10 par value common stock. The corporation declares a 10% stock dividend whe
    11·1 answer
  • Hallie owns 20% of the common stock of the Bean Brothers Coffee Company. The company announced plans to offer an additional 10,0
    6·1 answer
  • A company manufactures various sized plastic bottles for its medicinal product. The manufacturing cost for small bottles is $67
    6·1 answer
  • Discuss Two social factors that may contribute to unemployment in South Africa amongst the youth?​
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!