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
konstantin123 [22]
3 years ago
5

JCS Incorporated experienced the following transactions during its first year of business. The company purchased $16,000 of merc

handise from Kent Company. The company paid $2,000 for selling and administrative expenses and purchased land for $5,000. All of the merchandise purchased was sold for $30,000 cash. What is the company’s gross margin?
Business
1 answer:
12345 [234]3 years ago
4 0

Answer:

46.67%

Explanation:

Gross margin is the ratio of gross profit to the total sales. The gross profit is the difference between the sales and cost of goods sold. Other cost given such as land and selling and distribution cost make up assets and  operating expenses respectively.

Hence

Gross profit = $30,000 - $16,000

= $14,000

Gross margin = $14,000/$30,000

= 0.4667

The company's gross margin is 46.67%.

You might be interested in
Unimart Precision Manufacturing
Anarel [89]

Answer:

Results are below.

Explanation:

Giving the following information:

Company 1:

Beginning inventory Merchandise $253,000

Cost of purchases 600,000

Ending inventory Merchandise 153,000

Company 2:

Beginning Finished goods $506,000

Cost of goods manufactured 930,000

Ending Finished goods 147,000

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

<u></u>

COGS= beginning finished inventory + cost of goods manufactured/purchased - ending finished inventory

<u>Company 1:</u>

COGS= 253,000 + 600,000 - 153,000

COGS= $700,000

<u>Company 2:</u>

COGS= 506,000 + 930,000 - 147,000

COGS= $1,289,000

7 0
3 years ago
21. which of the following sections is responsible for providing communication planning and resources?
Reil [10]
Wher do we choose the communication planning and resource?
8 0
3 years ago
Chuck is concerned with what he considers to be an unfair situation at work. Although he put in 10 hours of overtime last week,
Levart [38]

Answer:

b. Decrease his inputs

Explanation:

The Equity Theory explains the influence that the perception of fair treatment has on the motivation of individuals. Or, from another point of view, in its demotivation.

People tend to compare ourselves to others. With other people's situations, inside and outside work. Thus, we form a perception about what is fair or unfair.

If the result of the comparison is understood as fair, people are more likely to feel motivated. On the contrary, when they perceive that they are treated unfairly, tension and demotivation appear.

In short, when compared to others, people want to be treated fairly for their contributions to the organization. And beliefs regarding what is fair and unfair can affect their motivation, attitudes and, therefore, their behaviors at work.

6 0
3 years ago
Baylor Service Corp. redeemed $1,000 of gift cards that customers used to pay for services that were performed by the company. T
Nitella [24]

Answer:

B. Unearned Revenue and a credit to Service Revenue.

Explanation:

The adjusting entry is given below:

Unearned revenue $1,000

         To Service revenue $1,000

(Being service revenue is recorded)

Here unearned revenue is debited as it decreased the liabilities and credited the service revenue as it increased the revenue

Therefore the option b is correct

7 0
3 years ago
Which formula should be used to correctly calculate the<br> monthly mortgage payment?
Charra [1.4K]
What’s the question
7 0
3 years ago
Other questions:
  • The generic value chain consists of​ ________ activities and four support activities.
    8·1 answer
  • When employees perceive that the process for decision-making is unfair or that the distribution of resources is unfair, they are
    8·1 answer
  • Ulysses S. Grant appears on the front of which denomination of US. currency?
    15·1 answer
  • All of the following statements regarding the double-entry system are true except:__________. 1. both sides of the accounting eq
    8·1 answer
  • Cost-push inflation is a situation in which the:
    11·1 answer
  • Analyze a local space that is open to the public. It can be a store or mall, a club, restaurant, or a school (like COC), perhaps
    7·1 answer
  • ook at these two sentences about Undeposited Funds: By posting to Undeposited Funds, you can create a single bank deposit for mu
    12·1 answer
  • All of the following are appropriate benchmarks for a state or local government to use as a basis for comparing performance exce
    7·1 answer
  • ANSWER FAST please !!!
    7·1 answer
  • Applying the concept of marginal costs, how would you, as a business owner, decide how much to produce?.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!