Ask question

Ask question

All categories

2 years ago

9

Mr. Small, store manager for Jay's Appliance, is having a difficult time placing a selling price on a refrigerator that cost $41

0. Mr. Small knows his boss would like to have a 45 percent markup based on cost. The selling price should be

1 answer:

Dvinal [7]2 years ago

7 0

The answer is $594.50, hope this helped you

You might be interested in

The opportunity cost to a consumer who smokes cigarettes is the:

andreyandreev [35.5K]

Answer: d. Products the consumer could have bought instead of cigarettes.

Opportunity cost refers to the loss benefits from the choices a person would have made if he or she had not made a particular choice.

Opportunity cost is also known as alternate cost.

In this question, had the consumer would have spent on other products if he had not bought cigarettes. Hence these products represent the opportunity cost of cigarettes.

6 0

3 years ago

According to recent research, 91 percent of businesses with 11 or more employees and 50 percent of those with 10 or fewer employ

Katena32 [7]

The answer here is true.

6 0

2 years ago

Now, assume that Addison’s savings institution modifies the terms of her account and agrees to pay 5.8% in compound interest on

love history [14]

Answer:

Addison will have $ 1,661 in her account in nine years.

Explanation:

This problem requires us to calculate value of our investment of $ 1000 dollars after nine years. The interest on the investment is 5.8% compounded annually.

This problem can be solved by using simple compounding formula given below.

Future Value = Present Value (1+interest rate%)^-period

Future Value = 1,000 (1+5.8)^9

Future = $ 1,661

5 0

3 years ago

Sheffield Corp. uses the periodic inventory system. For the current month, the beginning inventory consisted of 488 units that c

swat32

Answer:

$80,544

Explanation:

We will calculate the amount of cost of goods sold using FIFO as;

= (Beginning inventory unit × Cost of each inventory) + [(Units sold during the month - Beginning inventory units) × Unit cost of the first purchases made by the company]

= (488 × $65) + [(1,206 units - 488 units) × $68]

= $31,720 + $48,824

= $80,544

Therefore, the cost of goods sold using FIFO is $80,544

4 0

3 years ago

The income statement for the Carolina Service Company for the year ended December 31, 2017, appears below. Includes $25,000 of i

KATRIN_1 [288]

Answer:

Earning per share = 2.166

Price earning = 10.15

Times interest earned = 5.4

Explanation:

Common stock outstanding at end = Shares outstanding (open) +Shares issued.

= 50000+10000= 60000 outstanding shares (at end)

a.)we know that earning per share =<u> net income - preference dividend</u>

Common shares outstanding at end

= ( N#1) <u>135000 - 5000</u>

60000

= 2.166 earning per share

(N#1):To calculate net income we will need statement of changes in equity,Suppose par value of shares = $10,

we have Beginning equity + net income - Dividend = Equity (end)

Net Income = 600000+35000-500000

Net income = 135000

b.) Price earning = <u>Market value per share </u> = <u>22 </u> = 10.15

Earning per share 2.166

c.) Times interest earned =<u> Income before interest and taxes</u> or EBIT

Interest expense

EBIT = 135000

= 135000 / 25000 = 5.4 times

6 0

2 years ago