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Mazyrski [523]
4 years ago
14

Newark Company has provided the following information:• Cash sales, $450,000• Credit sales, $1,350,000• Selling and administrati

ve expenses, $330,000• Sales returns and allowances, $90,000• Gross profit, $1,360,000• Increase in accounts receivable, $55,000• Bad debt expense, $33,000• Sales discounts, $43,000• Net income, $1,030,000How much is Newark's cost of sales?A $307,000.B. $252,000.C. $440,000.D. $340,000.
Business
1 answer:
Arisa [49]4 years ago
8 0

Answer:

Newark's cost of sales is A $307,000

Explanation:

Cost of Sales can be determined by using the Missing figure Approach for this question.

Cost of Sales = Sales less Gross Profit

<u>Calculation of Sales figure :</u>

Cash sales,                                          $450,000

Credit sales,                                      $1,350,000        

<em>Less</em> Sales returns and allowances,  ($90,000)

<em>Less</em> Sales Discounts                          ($43,000)

Sales                                                   $1,667,000

<u>Calculation of Cost of Sales</u>

Thus Cost of Sales =  $1,667,000 - $1,360,000 (given)

                               =  $307,000

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Zeke Company sells 25,000 units at $21 per unit. Variable costs are $10 per unit, and fixed costs are $75,000. The contribution
Irina18 [472]

Answer:

A. 52% and $11 per unit

Explanation:

The contribution margin ratio is a measure of how much of a business revenue is available for covering its variable expenses. It also reveals how much is left to cover its fixed cost. The contribution margin is the unit income generated from each product sold. To calculate contribution margin ratio we divide contribution margin by sales. i.e

Contribution margin ratio = (contribution margin)/sales

Contribution margin = (sales - variable expenses)/sales

OR

contribution margin = (selling price - average variable cost)/ selling price

Since selling price is $21 and average variable cost is $10

contribution margin = (21 - 10)/21

= 11/21

=52.38% or 0.5238

Contribution margin = $21 - $10

= $11

thus,   A. 52% and $11 per unit is the answer.

variable cost per unit also means average variable cost.

5 0
4 years ago
Any useful activity is _____.
mr_godi [17]
Any useful activity is work because it requires energy and effort.
Leisure can be something that is not useful like chasing animals.
An occupation is your job. But then again, it is not always useful.
And you identity is who you are.

Answer: Work

Hope this helps :)
6 0
3 years ago
Read 2 more answers
A concern of using 360-degree evaluation is that: a. this system has no scope for employee collusion. b. raters feel accountable
oksano4ka [1.4K]

Answer:

The correct option is C

Explanation:

A 360-degree feedback also known as multi-rater feedback, multi source feedback, or multi source assessment is a process through which feedback from an employee's subordinates, colleagues, and supervisor(s), as well as a self-evaluation by the employee themselves is gathered.

Organizations have most commonly utilized 360-degree feedback for developmental purposes, providing it to employees to assist them in developing work skills and behaviors.

7 0
3 years ago
Assume for this problem that the price of gold is $1,200 per troy ounce. If the price of silver is $20 per troy ounce, how many
ValentinkaMS [17]

Answer:

3.75

Explanation:

Given;

Price of gold = $1,200 per troy ounce

Price of silver = $20 per troy ounce

Therefore,

1200/20 = 60 pieces of silver is worth one troy ounce of gold but;

1 ounce = 0.0625 pounds

60 ounces = 60 ×0.0625

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4 0
4 years ago
Practice Question 24 At the beginning of the year, Powers Company purchased a piece of machinery for $50,000. It has a salvage v
Naya [18.7K]

Answer:

$5,000

Explanation:

The computation of the depreciation expense under the straight-line method  is shown below:

Depreciation expense = (Original cost - residual value) ÷ (useful life)

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In this method, the depreciation is same for all the remaining useful life

The units are ignored in this method as it is used when units of production method applies

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