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Katena32 [7]
3 years ago
8

delmont movers has a profit margin of 6.2 percent and net income of $48900. what is the common size percentage for the cost of g

oods sold if that expense amounted to $379000 for the year ?
Business
1 answer:
ValentinkaMS [17]3 years ago
4 0

Answer:

The common size percentage for the cost of goods sold is 48.05%

Explanation:

The profit margin reflects a company's overall ability to turn income into profit, is calculated by formula:

Profit margin = Net income/Net sales

Delmont movers has a profit margin of 6.2 percent and net income of $48,900

Net sales of the company = Net income/Profit margin = $48,900/6.2% = $788,709.68

The cost of goods sold amounted to $379,000.

The common size percentage for the cost of goods sold = (The cost of goods sold/Net sales) x 100% = ($379,000/$788,709.68) x 100% = 48.05%

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Answer:

$1,000

Explanation:

For the computation of overhead over/under applied last year first we need to find out the applied overhead which is shown below:-

Applied overhead = Actual direct labor × Per direct labor

= 24,000 × $2

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Therefore for computing the overhead over/under applied last year we simply applied the above formula.

7 0
3 years ago
International Imports (I2) pays an annual dividend rate of 10.40% on its preferred stock that currently returns 13.94% and has a
dangina [55]

Answer:

$74.61

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Mel operates a video game store. His records indicate that he had sales of $78,000. Customers returned $1,500 worth of video gam
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Answer:

D. $57,500

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Milio is having coffee in a coffee house when he sees jordan, who is the dean of a midwest business school. milio used to teach
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Based on the scenario, it is considered to be false. The school of Jordan won’t be sued for tortious interference with existing contractual relationship because it doesn’t even prove that the person involved had intentionally damage one’s contractual or business relationship of which Jordan didn’t even engaged to.

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3 years ago
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5. June sales were $27,000, while projected sales for July and August were $51,000 and $69,000, respectively. Sales are 60% cash
liraira [26]

Answer:

$41,400

Explanation:

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3 years ago
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