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ankoles [38]
3 years ago
5

Gross Profit Method

Business
1 answer:
AveGali [126]3 years ago
5 0

Answer:

The answer is $119,000

Explanation:

cost of merchandise sold = Sales - Gross profit.

To find gross profit:

Gross profit rate x sales

0.42 x $1,450,000

= $609,000.

Now to calculate Cost of Sales:

Cost of Sales = Sales - gross profit

$1,450,000 - $609,000

$841,000

Now to calculate Estimated ending merchandise inventory:

Beginning merchandise inventory + purchases - cost of sales

=$100,000 + $860,000 - $841,000

=$119,000

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geniusboy [140]

Answer:

The correct answer is letter "D": direct materials prices are controlled by the purchasing department and quantity used is controlled by the production department.

Explanation:

Standard price is the estimated price direct materials could have at the moment of ordering a purchase. Standard quantity refers to the forecasted number of units necessary for the production process of the firm. The two of them are separated to allocate each one to the department in charge of their providing accurate measures: <em>standard prices are set by the purchasing department while the standard quantity is estimated by the production department. </em>

The efficiency of standard price and quantity relies on the purchasing and production departments separately.

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3 years ago
The interest on the projected benefit obligation component of pension expense:__
Aleonysh [2.5K]

Answer:

Option b (reflects..................settled) is the right response.

Explanation:

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Any other option is not connected to that case. That's the right choice.

4 0
2 years ago
The overall responsibility of health information management professional is
Vadim26 [7]
<span>Ensuring the quality and accuracy of health information. Hope this helps!

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8 0
3 years ago
A disadvantage of using the Web to communicate with potential customers is that it does not offer the cost savings of mass media
labwork [276]

Answer:

<u>False</u>

Explanation:

Remember, the word mass media encompasses the use of the internet or web to communicate information.

The cost savings of the web sprangs from digital media which is a form of mass media.

Therefore, a company using the Web to communicate with potential customers  is achieving cost savings through a form of mass media called the <em>digital media.</em>

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Which statement best defines a grant? A grant is an educational plan in which students alternate between studying for school and
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Answer:

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A grant is basically the amount of money which a Government or any other institution gives to someone or some organization or institution to serve a specific purpose. Grants are usually given for Educational purposes, Business Growth purpose, or to serve the under privileged people. Grants are not loans. Loans are required to be paid back but grants are not required to be given back to the lender. Grants are given to encourage growth and help people in raising from the bottoms.

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3 years ago
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