Answer:
Gross profit= $195,000
Explanation:
Giving the following information:
Sales= $240,000
Number of units sold= 75
Weighted-average cost= $600 each.
<u>To calculate the gross profit, we need to use the following formula:</u>
Gross profit= sales - COGS
Gross profit= 240,000 - 75*600
Gross profit= $195,000
Answer:
$19.95
Explanation:
Breakeven is where when total Cost = Total Revenue,
Let Selling Price = X
Total Revenue = Total cost
X*800 = 10,600+6.70*800
800x = 15960
Hence, selling Price(X) = 15960/800 = $ 19.95
Profits are negative in a monopolistically competitive market, the new firms will enter the market until economic profits are zero.
<h3>What is competitive market?</h3>
Competitive market is a market that involves many sellers and producer that are competing with one another.
They compete to provide goods and services
Therefore, profits are negative in a monopolistically competitive market new firms will enter the market until economic profits are zero.
Learn more on competitive market here,
brainly.com/question/25717627
Answer:
$180,000
Explanation:
Residual Income is the difference between net income of the company and the required rate of return. It determines the excess of income generate than the minimum return. The residual income serve a company to track its performance. It is a financial metric to assess company's internal performance. The formula to calculate the residual income is,
RI = Net operating Income - (Required rate of return * Cost of operating assets)
RI = $420,000 - (15% * $1,600,000 )
RI = $180,000
Answer: Insurance broker
Explanation:
An insurance broker is an individual/organization that is hired by their client to help them buy the best insurance coverage available, from an insurance company.
The insurance broker also has the function of giving their clients insurance advice and also negotiating terms of insurance on behalf of their clients with the insurance company.
