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Anika [276]
3 years ago
13

Refer to the following selected financial information from our company. Compute the company's profit margin for Year 2.

Business
1 answer:
Marianna [84]3 years ago
3 0

Answer:

a. 14.1%

Explanation:

Year 2

Net Profit Margin = Earnings Before Tax / Sales × 100

                             = $ 67,250 / $478,500 × 100

                             = 14.05 or 14.1 %

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Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory is as follows: Product Tota
balu736 [363]

Answer:

Tatum Company

1. The carrying value of inventory at December 31, 2021, assuming the LCNRV rule is applied to individual products is:

=  $ 303,000

2. Adjusting Journal Entry:

Debit Cost of Goods Good $38,000

Credit Inventory $38,000

To write-down the value of ending inventory.

Explanation:

a) Data and Calculations:

Product   Total Cost     Total Net Realizable Value    LCNRV

101            $ 136,000        $ 108,000                           $ 108,000

102               99,000             118,000                               99,000

103               68,000             58,000                                58,000

104               38,000             58,000                                38,000

Total        $ 341,000       $ 342,000                          $ 303,000

Write-down:

Cost of inventory =    $341,000

LCNRV of inventory    303,000

Inventory write-down $38,000

8 0
3 years ago
Assuming suppliers produce 75 lawnmowers per week:
Irina-Kira [14]

Answer:C

Explanation: this quantity is allocatively inefficient because the marginal cost of producing the last lawnmower exceeds the marginal benefit to consumers.

6 0
3 years ago
The amount of safety time needed to protect a particular path in a project is less than the sum of the safety times required to
Shkiper50 [21]

Answer:

a. True

Explanation:

For computing the amount of safety time required for protecting a specific path we need to subtract the total of safety time in order to protect the individual activities who are making the path so that the path should be secure, safe and protected

Hence, the given statement is true

Therefore the correct option is a. True

8 0
3 years ago
What is the weighted average cost of capital and it's purpose?
Alenkinab [10]
The weighted average cost of capital<span> i</span><span>s the rate that a company is expected to pay on </span>average<span> to finance their operation/assets
The purpose of this financial measurement would be for the budgeting process. It can be used to estimate future cash outflow that the company made for the operating period.</span>
5 0
3 years ago
In the united states ,dollar bills, , and dimes are representative money
AnnyKZ [126]

Answer:

In the United States, dollar bills, nickels, and dimes are Representative money It can be exchanged for a valuable good, was used in systems involved a "gold standard", and can be traded for a commodity such as silver.

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