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
zhuklara [117]
3 years ago
14

Baco opens its business in 20x2 and purchases merchandise on account for $88000. In 20x2, baco pays $67000 cash on the $88000 du

e, sales are $145000 and ending inventory is $24000. Baco gross profit for 20x2 is?
Business
1 answer:
FrozenT [24]3 years ago
5 0

Answer:$81,000

Explanation:

Sales is $145,000

Less:

Cost of goods sold is purchases less closing inventory

$88,000 - $24,000

= $64,000

Gross profit = $145,000 - $64,000

= $81,000

You might be interested in
A company uses the following standard costs to produce a single unit of output. Direct materials 7 pounds at $0.60 per pound = $
Naddika [18.5K]

Answer:

Direct material price variance= $20,100 unfavorable.

Explanation:

Giving the following information:

Direct materials 7 pounds at $0.60 per pound = $ 4.20

During the latest month, the company purchased and used 67,000 pounds of direct materials for $.90 per pound to produce 10,000 units of output.

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (0.60 - 0.90)*67,000= $20,100 unfavorable.

7 0
3 years ago
According to the quantity theory, if constant growth in the money supply is combined with fluctuating velocity, which of the fol
tatuchka [14]

Answer:

A

Explanation:

The quantitative theory of money states that MV=PT.

M: money supply

V: velocity of circulation (number of times that a dollar changes of holder in a period)

P : price of a typical transaction

T: total number of transactions.

We can also write the equation as MV=PY, because the value of transactions is equal to the GDP (Y).

If M has a constant growth but there are fluctuations in V, then P, Y or both change.

5 0
3 years ago
_______________ mrp is an mrp system that includes production planning, master production scheduling, and capacity requirements
Diano4ka-milaya [45]
A Tangible mrp is an mrp system that includes those stated
3 0
3 years ago
7. Which of the following people is required to file taxes? *
rewona [7]

Answer:

what you will be when grow up?

4 0
2 years ago
What was the non-live show revenue (merchandising + record sales + etc) for the Amzai Brothers during September-December 2019?
andrew-mc [135]

Full question attached

Answer and Explanation:

Answer and explanation attached

7 0
3 years ago
Other questions:
  • Wattan Company reports beginning inventory of 25 units at $39 each. Every week for four weeks it purchases an additional 25 unit
    13·1 answer
  • Zippy had cash inflows from operations $60,500; cash outflows from investing activities of $47,000; and cash inflows from financ
    8·1 answer
  • When a company produces​ 5,000 units, total costs equal​ $150,000 and total variable costs equal​ $75,000. At this level of​ out
    12·1 answer
  • Lucky Cow Dairy provided the following expense information for​ May: Assemblyminusline ​workers' wages $ 72 comma 300 Caps for m
    11·1 answer
  • You purchase fire insurance<br> a. Reduction<br> b. Transfer
    13·1 answer
  • Assume that you are on the financial staff of Vanderheiden Inc., and you have collected the following data: The yield on the com
    15·1 answer
  • Janes Company provided the following information on intangible assets: A patent was purchased from the Lou Company for $1,100,00
    7·1 answer
  • What is the maximum amount a 45-year-old taxpayer and 45-year-old spouse can put into a Traditional or Roth IRA for 2019 (assumi
    14·2 answers
  • Which of the following was the cause of the passage of the Blaine Amendments?
    7·2 answers
  • Under what circumstancess should outsourcing be used for building Information systems​
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!