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
Tanzania [10]
3 years ago
14

Presented below are the components in Gates Company’s income statement. Determine the missing amounts. Sales Revenue Cost of Goo

ds Sold Gross Profit Operating Expenses Net Income (a) $82,400 $ $30,100 $ $20,900 (b) $110,600 $77,000 $ $ $23,600 (c) $ $75,100 $87,200 $47,700
Business
1 answer:
Mumz [18]3 years ago
4 0

Answer:

(a) $52,300; $9,200

(b) $33,600; $10,000

(c) $162,300; $39,500

Explanation:

(a) Sales Revenue = $82,400

Cost of Goods Sold = ?

Gross Profit = $30,100

Operating Expenses = ?

Net Income = $20,900

Gross profit = Sales revenue - Cost of goods sold

$30,100 = $82,400 - Cost of goods sold

Cost of goods sold = $82,400 - $30,100

                                = $52,300

Net income = Gross margin - Operating expenses

Operating expenses = Gross margin - Net income

                                  = $30,100 - $20,900

                                  = $9,200

(b) Sales Revenue = $110,600

Cost of Goods Sold = $77,000

Gross Profit = ?

Operating Expenses = ?

Net Income = $23,600

Gross profit = Sales revenue - Cost of goods sold

                    = $110,600 - $77,000

                    = $33,600

Operating expenses = Gross margin - Net income

                                  = $33,600 - $23,600

                                  = $10,000

(c) Sales Revenue = ?

Cost of Goods Sold = $75,100

Gross Profit = $87,200

Operating Expenses = $47,700

Net Income = ?

Gross profit = Sales revenue - Cost of goods sold

Sales revenue = Gross profit + Cost of goods sold

                        = $87,200 + $75,100

                        = $162,300

Net income = Gross margin - Operating expenses

                   = $87,200 - $47,700

                   = $39,500

You might be interested in
Besides the actual mortgage payment, which also factors into the monthly payment on a home?
Pie
Aside from the actual mortgage payments, you also pay for your monthly property taxes, homeowner's insurance, and home repairs.

Sometimes homeowners also pay for monthly dues to their homeowners association. This monthly dues include water, sewer, garbage, and maintenance of other amenities like clubhouse, pool, and tennis courts. 
5 0
3 years ago
Read 2 more answers
What federal agency is tasked with developing policies and procedures for emergencies that impact federal lands?
mariarad [96]
It can fall between Federal Emergency Management Agency (FEMA) or the U.S. National Guard (depends if the head of government for said state declared the are as in a state of emergency.<span />
3 0
2 years ago
Samir, the new CEO of Cloud Marketing, has been with the firm for over 25 years. He was picked by the board to turn the 85-year-
IRISSAK [1]

Answer:

A. embedding organizational culture

Explanation:

4 0
2 years ago
Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the marginal revenue for a product is MR = 1
n200080 [17]

Answer:

Profit 6,130

Explanation:

MC = 30X + 4

when X=5

Cost to produce 5 units:

We will need to calcualte the MC for 1, 2 , 3, 4 and 5 units and then add them together

MC = 30(5) + 4 = 150 + 4 = 154

MC = 30(4) + 4 = 150 + 4 = 124

MC = 30(3) + 4 = 150 + 4 =  94

MC = 30(2) + 4 = 150 + 4 =  64

MC = 30(1) + 4 = 150 + 4 =   34

Total                                   470

Giving this, now anther way, more easy would be to use the Gauss method to a summatory:

S=\frac{n\times(n+1)}{2}

S to 5 from 1 of (30x+4) =

30 \times \frac{5\times6}{2} +4 \times 5

S = 470

Now we can continue:

Total Marginal cost 470 + Fixed Cost: 900 = 1370

MR = 1500 revenue for adding 1 unit

1500 x 5 = 7500 total revenue

total revenue - total cost = profit

7500 - 1370 = 6,130

3 0
2 years ago
The following standards for variable manufacturing overhead have been established for a company that makes only one product: Sta
galben [10]

Answer:

See below

Explanation:

Given the following;

Standard hours per unit of output 6.4 hours

Standard variable overhead rate $12.80 per hour

Actual hours 2,650 hours

Actual output 150 units

To calculate the variable overhead efficiency variance, we will use the formula below;

Variable overhead efficiency variance

= (Standard quantity - Actual quantity) × Standard rate

Standard quantity = 150 units × 6.4 = 960

Variable overhead efficiency variance

= (960 - 2,650) × $12.80

= $21,632 unfavourable

4 0
3 years ago
Other questions:
  • Blossom Company reports operating expenses of $100,000, excluding depreciation expense of $17,000 for 2022. During the year, pre
    13·1 answer
  • According to the fiedler contingency model, high managerial control is characterized by ________.
    14·1 answer
  • On August 1, 2016, Rocket Retailers adopted a plan to discontinue its catalog sales division, which qualifies as a separate comp
    12·1 answer
  • All are signs of neglect and emotional abuse EXCEPT:
    5·2 answers
  • A division of IBM works out of 360 locations in 64 countries, tracking more than 1.5 million assets for both IBM and its clients
    10·1 answer
  • A reduction in the tax rate on pass-through business income to a maximum of 25 percent would ________ the return to entrepreneur
    10·1 answer
  • Jem wants to make sure the gaming system she wants to buy includes
    8·1 answer
  • A style guide, such as an MLA manual, will assist you in:
    13·1 answer
  • Kentucky Fried Chicken, with 18,875 stores in 118 countries and territories around the world, changed their recipe (the spicines
    6·1 answer
  • Can Eskom raise extra capital for expansion​
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!