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expeople1 [14]
3 years ago
9

Nueva Company reported the following pretax data for its first year of operations. Net sales 7,400 Cost of goods available for s

ale 5,610 Operating expenses 1,638 Effective tax rate 40 % Ending inventories: If LIFO is elected 627 If FIFO is elected 804 What is Nueva's net income if it elects FIFO
Business
1 answer:
Ludmilka [50]3 years ago
8 0

Answer:

Net Income $574

Explanation:

Calculation of Nueva's net income if it elects FIFO will be :

Net sales$7,400

Less Cost of goods sold ($4,806)

($5,610 − $804)

Gross profit 2,594

Operating expenses (1,638)

Income before taxes 956

(2,594-1,638)

Income tax 382.4

(40%×956)

Net income $574

(956-382.4)

Therefore the Nueva's net income if it elects FIFO would be $574

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Answer:

Explanation:

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3 0
3 years ago
Anthony Herrera recently fulfilled his long-time dream of opening a gym that offers spinning exercise classes for $5.42 per pers
Alik [6]

Answer:

(a) $3.48 per unit

(b) 64.2%

Explanation:

(a) Anthony’s contribution margin per unit:

= Selling price per unit - Variable cost per unit

= $5.42 - $1.94

= $3.48 per unit

Therefore, the Anthony’s contribution margin per unit is $3.48 per unit.

(b) Anthony's contribution margin ratio:

= (Contribution Margin Per unit ÷ Selling Price per unit) × 100

= ($3.48 per unit ÷ $5.42 per unit) × 100

= 0.6420 × 100

= 64.20%

Therefore, the Anthony's contribution margin ratio is 64.2%.

8 0
3 years ago
The bookstore of a university would be considered:
Artyom0805 [142]
The answer would be C
6 0
3 years ago
Walmart What should you do if you cannot fit an entire case on the shelf
Fofino [41]

Answer & Explanation:

If there is no other place for it. The case must be put back together and returned to the back room to be stored. There are times where it is acceptable to return a partial case to the back. An example is if a customer asks for an item out of the box.

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Which option identifies the type of budget development represented in the following scenario?
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