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
What is the name of the specific protection that the insurer provides to the policy holder
kupik [55]

Answer:

option D is correct answer

Explanation:

hope it's helpful for you

5 0
2 years ago
Read 2 more answers
Splish Inc. had pretax financial income of $139,400 in 2020. Included in the computation of that amount is insurance expense of
RoseWind [281]

Answer:

The Journal entry and their narrations is shown below:

Explanation:

The Journal entry is shown below:-

Income tax expenses Dr,         $43,140

        To income tax payable                    $40,140

         To Deferred tax liability                  $3,000

(Being Income tax expenses for the year is recorded)

Working Note 1:-

Income as per tax purpose

Pretax financial income                   $139,400

Add: permanent difference

Disallowed insurance expenses     $4,400

Less: Timing difference

Excess depreciation allowed            $10,000

Income as per tax purpose                 $133,800

Working Note 2

Income tax payable

= Income tax rate × Income as per tax purposes

= 30% × $133,800

= $40,140

Working Note 3

Deferred tax liability = Timing difference × Tax rate

= $10,000 × 30%

= $3,000

6 0
2 years ago
You have $3000 per month to cover your expenses. You estimate your monthly costs to be rent of $1200, car expenses of $700, util
kobusy [5.1K]

Answer:

with the student loans you will be over 800

Explanation:

so if you subtract all of that from 3000 you will be in negatives by -800 each month

4 0
2 years ago
1. Clean Machines Company (Clean) makes washing machines. Over the phone, Clean offers to sell Dealers Appliance Outlet (Dealers
photoshop1234 [79]

Answer:

Explanation:

In my opinion, I would like to say that Clean Machines Company is correct. If you look at it this way, you'd see that there actually isn't any contract between Clean Machines Company and Dealer. When it came to about offers, the person offering is able to revoke an offer before the offer is even accepted. And he won't be held responsible unless of course, the offer is irrevocable. Then, to make the offer to be irrevocable, the Dealer then would have needed to prove that an option was present, or prove that the offer is was not able to be revoked due to UCC provision.

6 0
2 years ago
A company makes two products, A and B. A sells for $100 and B sells for $90. The variable production costs are $30 per unit for
Slav-nsk [51]

Answer:

True

Explanation:

Profit function would be maximised.

Profit = Revenue - Cost

Let units of both goods be = A ,B

Revenue per unit good A = 100

Revenue per unit good B = 90

Variable Cost per unit good A  = 30

Variable Cost per unit good B = 25

Profit Function = (100 - 30)A + (90 - 35)B

= 60A + 65B

{The function is right without including 'average fixed cost' part of 'total cost' in the function because : average fixed cost is a constant & constant figure doesn't effect optimisation (via differentiation , ∵ d (c) = 0)

5 0
3 years ago
Other questions:
  • The story of the Reset Button is an example of a noise caused by (select all that apply)
    12·1 answer
  • Mary's bakery is trying to determine what price to charge for her cookies, so mary places a low price on them and raises it each
    6·1 answer
  • Which of the following situations represents financially responsible choices? Select all that apply.
    5·2 answers
  • Conducting research about an occupation, company, or job can increase your employability.
    10·1 answer
  • POINTS!!!!!!!!!!!!!! BRAINLIEST AND 20+ POINTS!!!
    7·2 answers
  • St. Claire Manufacturing expects to produce and sell 6,000 units of Big, its only product, for $20 each. Direct material cost is
    9·1 answer
  • Chapman Machine Shop is considering a 4-year project to improve its production efficiency. Buying a new machine press for $576,0
    11·1 answer
  • he following information for Cooper Enterprises is given below: December 31, 2021Assets and obligations Plan assets (at fair val
    10·1 answer
  • Three months ago, Central Supply stock was selling for $51.40 a share. At that time, you purchased five put options on the stock
    13·1 answer
  • A local newspaper devotes its New Year's Day issue to people who have performed heroically during the past year. One of the peop
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!