The total of a company's net sales is its gross sales less any returns, allowances, and discounts.
<h3>What is the formula for net sales?</h3>
- The total income that your company brings in before discounts, returns, and allowances is referred to as gross sales value.
- The following is the net sales formula.
Net sales = Gross sales – Returns – Allowances – Discounts.
- Sales made with a debit card, cash, credit card, or trade credit will all be counted toward the total sales.
- The total number of units sold is multiplied by the price per unit for the purpose of calculating gross sales.
- Example to illustrate net sales
The net sales will be computed with the formula net sales = gross sales – returns – allowances – discounts. The net sales would be $9000 - $1000 - $5000 = $3000.
Gross Sales = $9,000
Returns and Allowances = $1000
Discounts =$5000
Net Sales = $3000.
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Identifying a single overhead rate as the predetermined overhead rate (b)
Answer:
move along upwards
shift out
shift in
Explanation:
A change in price of a good leads to a movement along the supply curve and not a shift of the supply curve.
Other factors other than a change in the price of the good would lead to a shift of the supply curve. Such factors include :
- A change in the price of input
- A change in the number of suppliers
- Government regulations
When the price of corn increases, the quantity supplied of corn increases. this is in line with the law of supply.
according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
This would lead to a movement up along the supply curve
If the price of seed which is an input to corn decreases, it becomes cheaper to produce corn. As a result, the supply of corn would increase. this would lead to an outward shift of the supply curve.
If the number of grocery stores decreases, there would be a reduction in supply. As a result, the supply curve would shift inwards
Answer: joint venture agreement
Explanation:
To enter the Chinese market, General Motors entered a joint venture agreement with the local company SAIC.
A joint venture is when two or more companies come together utilizing their skills and pooling their resources together so that they can achieve a particular aim
Here, both company pooled their resources together and they both own about 50% of the new company.
