Cover food in the microwave with plastic wrap to?

Required: a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiser. Hint: Not all

vivado [14]

Answer:

A.

a. Good Available For Sale $21,900

b. Cost of goods sold $15,900

c. Gross profit $3,600

B. Net income for merchandise company $1650

Net income for service company $15600

Explanation:

A.Compution for gross profit, the goods available for sale, and the cost of goods sold for the merchandiser.

a. Good Available For Sale

Using this formula

Good available fro sale = Beginning inventory + Net purchase

Let plug in the formula

Good available fro sale = $10,000 + $11,900

Good available fro sale = $21,900

b. COST OF GOODS SOLD

Using this formula

Cost of goods sold = Goods available for sale - Ending inventory

Let plug in the formula

Cost of goods sold= $21,900 - $6000 =

Cost of goods sold= $15,900

c. GROSS PROFIT

Using this formula

Gross profit= Sales - COGS

Let plug in the formula

Gross profit = $19,500 - $15,900

Gross profit= $3,600

b.Computation for net income

Net income for merchandise company = Gross profit - Expenses = $3,600 - $1,950 = $1,650

Net income for service company = Revenue - Expenses = $24,000 - $8,400 = $15,600

8 0

3 years ago

Use the weighted-average inventory method for the following problem: The beginning inventory on August 1 has two items that are

Andrej [43]

Answer:

Average cost units in inventory=$1,205

Explanation:

August 8

Weighted average cost in August 8

=( (2 × 100 )+ (3 × 250))/5=$190

Cost of goods sold in August 15 = 190× 3= 570

Balance in inventory in August 15 = 950 - 570 =380

Weighted average cost in August 25 = 380 + (3* 275)/(2+3)= 241 per

Average cost of units = $241 per unit

Average cost units in inventory in August 25= $241×5 =1205

Average cost units in inventory=$1,205

6 0

3 years ago

zzy Division of Marine Boats Corporation had the following results last year (in thousands). Sales $ 4 comma 700 comma 000 Oper

o-na [289]

Answer:

C. $ 168 comma 000

Explanation:

The computation of the residual income is shown below:

= Operating income - minimum return

where,

Operating income is $600,000

And, the minimum return equal to

= Invested asset amount × minimum rate of return

= $3,600,000 × 12%

= $432,000

Now put these values to the above formula

So, the value would equal to

= $600,000 - $432,000

= $168,000

We simply applied the above formula

3 0

3 years ago

Lotina apologized to a subordinate for an e-mail that upset him. she said she had chosen an unfortunate way of stating her idea,

MissTica

<span>Lotina deciding to apologize to her subordinate for the email that she sent that upset him is Lotina expressing consideration behavior. She recognized that she used a poor choice of words to express her idea and she let him know that not only was she sorry for that, but she would love an opportunity to sit down and discuss the ideas.</span>

6 0

3 years ago

True or False: In the event of the firm's bankruptcy, the most shareholders can lose is their original investment in the firm's

KATRIN_1 [288]

Answer:

The answer is true.

Explanation:

Preference or preferred shareholders are synonymous to lenders to a business or company. Preferred shares are like debt to a business. They possess the characteristics of both debt and equity and in the case of liquidation, they have to be settled first. Common shareholders are the last shareholders to settled.

3 0

3 years ago