1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
faltersainse [42]
3 years ago
11

​Jim's Handicrafts' main product sells for​ $100 and the cost of goods sold is​ $40. The​ $60 (the difference between the​ two)

is called​ ______.
Business
1 answer:
sammy [17]3 years ago
4 0

Answer:

Gross Profit

Explanation:

Gross Profit is defined as the amount earned by the company, after deducting the cost of producing and selling the products in case of a manufacturing business, or the cost of providing services to customers in case of service oriented business. Therefore, the difference between sales revenue and the cost of goods sold is called Gross Profit.

Sales Revenue - Cost of Goods Sold = Gross Profit

$100 - $ 40 = $60  

You might be interested in
Assume you are bequeathed $500 by a long-lost cousin. You decide that, for the next year, you will put all that money in the ban
lukranit [14]

Answer:

Results are below.

Explanation:

Giving the following information:

Initial investment (PV)= $500

Number of periods (n)= 1 year

Interest rate (i)= 4% = 0.04

<u>To calculate the future value after one year, we need to use the following formula:</u>

FV= PV*(1+i)^n

FV= 500*(1.04^1)

FV= $520

The savings increased by $20.

5 0
3 years ago
A local hamburger shop sold a combined total of 601 hamburgers and cheeseburgers on monday. there were 51 more cheeseburgers sol
kaheart [24]
Let number of hamburgers be N, and number of cheese burgers be (N + 51).

The total sold: N + (N + 51) = 601
=> 2N + 51 = 601
=> (2N + 51) - 51 = 601 - 51
=> 2N = 550
Divide through by 2:
=> N = 275

There were 275 hamburgers sold on Monday.
4 0
4 years ago
Research was conducted by professor jobs to check which one program out of three given programs is the optimal choice for a stud
maw [93]
We have that the student gains the same reward completing any one of the three programs; thus the program with the least cost is optimal. We have that the first program costs 38.600$. Nevertheless, we need to also account for the lost opportunity, which is 2000$ per month. Thus, instead of going to the program, the student could have saved 38.600$+6*2000$=50.600$. Now for the 12month program, we have similarly 35.000$+12*2000$=59.000$. Finally, for the 15month program, the calculation yields: 28.600$+15*2000$=58.600$. We see that the best program to attend is the 6-month one (lowest total opportunity cost); despite it being the most expensive one, after completing it the student can make up for it by grabbing the other opportunity and making 2000$ per month (in the other programs, the student cannot work for 6 or 9 months more than this program).
7 0
3 years ago
What does SEO stand for and what does it mean exactly?
algol13
I believe SEO stands for Search Engine Optimization<span>. But I don't exactly know what it means :( I hope this helps!</span>
6 0
3 years ago
Honda Motor Company is considering offering a $ 1 comma 800 rebate on its​ minivan, lowering the​ vehicle's price from $ 30 comm
finlep [7]

Answer:

Taking into consideration only the income, the increase in unit sales will not increase the income of Honda. It can impact in other ways, like a decrease in inventory.

Explanation:

Giving the following information:

Honda Motor Company is considering offering an $1800 rebate on its​ minivan

New price $30200

Old price $28400.

The marketing group estimates that this rebate will increase sales over the next year from 42000 to 53900 vehicles.

Honda's profit margin with the rebate is $5650 per vehicle.

Normal price:

Income= (5650+1800)*42000= $312,900,000

New price:

Income= 5650* 53900= $304,535,000

Taking into consideration only the income, the increase in unit sales will not increase the income of Honda. It can impact in other ways, like a decrease in inventory.

6 0
4 years ago
Other questions:
  • Tutoring concerns. wally and sally want to go into business together and plan on offering a tutoring service to high school and
    13·1 answer
  • It is safe to use your bright headlights if there is a car ahead of you within 300 feet. True or False?
    8·2 answers
  • 1. Under a shipment contract, the seller is required only to the goods into the hands of a carrier and title passes to the buyer
    9·1 answer
  • Justin has hired someone to handle all of the financial issues for his small business. He hired a:
    7·1 answer
  • Consider the following monthly amortization schedule: Payment # Payment Interest Debt Payment Balance 1 1,167.34 540.54 626.80 2
    7·1 answer
  • Hung and Suzanne’s company has instituted a new volunteering program where more experienced employees mentor the youngest employ
    11·1 answer
  • Bill uses his entire budget to purchase Pepsi and hamburgers, and he currently purchases no Pepsi and 6 hamburgers per week. The
    8·1 answer
  • Sure Tool Company is expected to pay a dividend of $2 in the upcoming year. The risk-free rate of return is 4%, and the expected
    7·1 answer
  • The three basic production strategies for addressing the aggregate planning problem are the chase production strategy, the level
    15·1 answer
  • During each stage of a product's life cycle, the types and levels of sales, profits, and competition rise, peak, and eventually
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!