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
german
4 years ago
6

Jack Corporation uses horizontal analysis to compare its income statement from year to year. Jack Corporation reported the follo

wing data last year as well as the percent change when compared to the current year:
Total Last Year % Change in Current Year
Sales Revenue $600,000 7.00%
Cost of Goods Sold $180,000 1.00%
Gross Profit $420,000

What is the Cost of Goods Sold in the current year?

A. $657,600
B. $560,748
C. $642,000
D. $42,000
Business
1 answer:
fredd [130]4 years ago
6 0

Answer:

Current year cost of goods sold is $181,800.

Explanation:

The current year cost of goods sold is calculated as follows:

Current year cost of goods sold = Last year cost of goods sold + Current year change

= $180,000 + ($180,000 * 1%)

= $180,000 + $1,800

= $181,800

Therefore, current year cost of goods sold is $181,800.

You might be interested in
Which business model seeks to reduce distribution expenses?
beks73 [17]

It is "cutting out the middleman", which  seeks to reduce distribution expenses.

By avoiding the middleman, i.e. offering straightforwardly to you, the maker can list that equivalent item for, say $75 which because of a broker or retailer rises to at least 100 $, which it to appear is a lot of difference to the buyer, while in the meantime giving them significantly more benefit than they'd make selling to a store.

4 0
4 years ago
Offering to pay the passenger in front of you to keep her from reclining her airplane seat is an example of a Pigovian solution
Blizzard [7]

Answer:

a Coasian solution to an externality situation.

Explanation:

Basically. a Coasian solution to an externality situation occurs when the economic activities of one party results in a damage or cost to another party or their property. In this situation, the Coase Theorem which recommends two possible settlements may be applied. The first settlement is for the party causing the damage or imposing the cost to choose to give financial compensation to the affected party so that he can continue to impose the cost or cause the damage. The second settlement is for the affected party to pay the party causing the damage or imposing the cost so that he can stop causing the damage or imposing the cost.

From the question, the affected person chose the second possible settlement by offering to pay the passenger in front of him to keep her from reclining her airplane seat. It is therefore an example of a Coasian solution to an externality situation.

3 0
3 years ago
Andy's two nephews want to travel to Philadelphia with him to see a show. Andy has two free plane tickets and three tickets to t
amid [387]
The two plane tickets represent a scarce resource because there are three of them who are going to Philadelphia and it needs three tickets to fly over there. The available resources that they have are not enough for them to realize their desire to watch the show in that place. 
7 0
3 years ago
If a family spends its entire budget in a given time frame, the family can afford either 10 restaurant meals or 30 home meals. A
Andrej [43]

The opportunity cost of one extra restaurant meal in the time frame is 3 home meals.

<h3>What is opportunity cost?</h3>

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When the family chooses to go for the restaurant meal, they forgo the opportunity for a home meal.

Opportunity cost  = 30 / 10 = 3

To learn more about opportunity cost, please check: brainly.com/question/26315727

7 0
2 years ago
The minimum wage is an example of a Group of answer choices price ceiling. price door. price wall. price floor.
topjm [15]

Answer:

price floor

Explanation:

A price ceiling is a limit that is established by the government that determines the highest price that can be charged for a product or service.

A price floor is a control that is established by the government that determines the lowest price for a product or service.

According to this, the answer is that the minimum wage is an example of a price floor because it determines the minimum amount that a company can pay to a worker.

The other options are not right because a price ceiling establishes the highest price for a product and price door and price wall are not price controls.

8 0
3 years ago
Other questions:
  • Dominic and Morgan are partners. Dominic has a capital balance of $360,000 and Morgan has a capital balance of $265,000. Morgan
    12·1 answer
  • Manufacturers follow four steps to implement a manufacturing overhead allocation system. what is the first​ step?
    7·1 answer
  • DFS Electronics Inc. ensures that all its products are highly durable and reliable by using techniques like zero-defect and lean
    6·1 answer
  • Statistical process control charts are not really used to fix quality so much as they are used to_________.A) highlight when pro
    8·1 answer
  • Teresa has just opened a NOW account that pays 3.50​% interest. If she maintains the account at the required minimum balance of
    14·1 answer
  • Which best describes china's economic impact on living conditions and trends?
    7·1 answer
  • On March 15, American Eagle declares a quarterly cash dividend of $0.125 per share payable on April 13 to all stockholders of re
    13·1 answer
  • Horace is seeking to exchange money in preparation for his trip to Uruguay. He will need 5,000 Uruguayan pesos, and the exchange
    10·1 answer
  • Troy will receive $7,500 at the end of Year 2. At the end of the following two years, he will receive $9,000 and $12,500, respec
    8·1 answer
  • A $200,000 loan amortized over 13 years at an interest rate of 10% per year requires payments of $21,215.85 to completely remove
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!