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tiny-mole [99]
3 years ago
13

Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60.0 percent. What amou

nt of Cost of Goods Sold did the company report?
Business
1 answer:
Pachacha [2.7K]3 years ago
8 0

Answer:

COGS= $67,200

Explanation:

Giving the following information:

Your campus computer store reported:

Sales Revenue of $168,000.

The company's gross profit percentage was 60%.

Gross profit= sales revenue - cost of goods sold

sales= 168,000

COGS=?

gross profit= 168,000*0.6= 100,800

COGS= 168,000 - 100,800= $67,200

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Suppose your business operates a machine at a cost of ​$100 per day whether it is used or not plus ​$50 for each hour it is used
Mice21 [21]

Answer:

You can find the drawing in the attached file

Explanation:

You have fixed cost of $100 whter the machine is used or not and a variable cost of $50 for each hour used. So if you do not use de machine the cost will be $100, if the machine is used 1 hour the cost will be $150 and will increase $50 per aditional hour, until it reaches $500 ($100 + 8*50)

The drawing must have two variables, one is cost and the other is hours.

Cost start from $100 when the machine is not used and grows $50 per hour

Download xlsx
3 0
3 years ago
Atlantis Corporation has​ 12,000 shares of​ 14%, $78 par noncumulative preferred stock outstanding and​ 29,000 shares of​ no-par
ira [324]

Answer:

The preferred shareholders will be allocated a dividend of $131040 and the common shareholders will be allocated a dividend of $56960.

Explanation:

Total dividend declared =$188000

the allocation of dividends:

Preferred shareholders = (12000×14%)×$ 78

                                       = $ 131040

Common shareholders = Total dividends - preferred shareholders dividend

                                       = $ 188000 - $ 131040

                                       = $ 56960

Therefore, the common shareholders will be allocated dividends of $ 56960 and the preferred shareholders will be allocated dividends of $ 131040.

7 0
3 years ago
Find the future values of these ordinary annuities. Compounding occurs once a year. Do not round intermediate calculations. Roun
neonofarm [45]

Answer:

(a) $50,980.35

(b) $5,129.90

(c) $2,400

(d) $50,980.35

(e) $5,129.90

(f) $2,400

Explanation:

A constant payment for a specified period is called annuity. The future value of the annuity can be calculated using a required rate of return.

Formula for Future value of annuity is

F = P * ([1 + I]^N - 1 )/I

P =Payment amount

I = interest rate

N = Number of periods

(a) $1,000 per year for 16 years at 14%

F = $1,000 x ([1 + 14%]^16 - 1 )/14%

F = $50,980.35

(b) $500 per year for 8 years at 7%

F = $500 x ([1 + 7%]^8 - 1 )/7%

F = $5,129.90

(c) $600 per year for 4 years at 0%.

F = $600 x 4

F = $2,400

(d) $1,000 per year for 16 years at 14%

F = $1,000 x ([1 + 14%]^16 - 1 )/14%

F = $50,980.35

(e) $500 per year for 8 years at 7%

F = $500 x ([1 + 7%]^8 - 1 )/7%

F = $5,129.90

(f) $600 per year for 4 years at 0%.

F = $600 x 4

F = $2,400

3 0
3 years ago
Multiple Choice Question 71 Boswell Company manufactures two products, Regular and Supreme. Boswell’s overhead costs consist of
seropon [69]

Answer:

Allocated MOH=  $5,250,000

Explanation:

Giving the following information:

Overhead costs:

Machining = $5,000,000

Assembling= $2,500,000

Regular:

Direct labor hours= 10,000

Machine hours= 10,000

Number of parts= 90,000

Supreme:

Direct labor hours= 15,000

Machine hours= 30,000

Number of parts= 160,000

First, we need to calculate the estimated overhead rate for each department. For Machining, we will use the machine hours. For Assembling, we will use the direct labor hours.

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

<u>Machining:</u>

Estimated manufacturing overhead rate= 5,000,000/ (10,000 + 30,000)= $125 per machine hour

<u>Assembling:</u>

Estimated manufacturing overhead rate=  2,500,000/(25,000)= $100 per direct labor hour

Now, we can allocate overhead to supreme.

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= (125*30,000) + (100*15,000)= $5,250,000

6 0
3 years ago
The Card Shoppe needs to maintain 18 percent of its sales in net working capital. Currently, the store is considering a four-yea
mylen [45]

Answer:

$56,520

Explanation:

As per given data

Year     Sales          Working Capital 18%

   0      $279,000   ($50,220)

   1       $308,000   ($5,220)

   2      $314,000    ($1,080)

   3      $314,000    $0

   4      $314,000   $56,520

As the sales value of year 2, 3 and 4 are same, as capital is adjusted in year 2 and company has equal working capital required in year 3, years 4 is the last year of the project so, working capital will be recovered from the project

Net Working capital will be reimbursed at the end of the project. The accumulated value of investment in working capital will be recorded as cash inflow in the analysis.

0 0
3 years ago
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