Answer:
True
Explanation:
The profit margin calculation is shown below:
= (Net income ÷ net sales) × 100
= ($130,500 ÷ $1,740,000) × 100
= 7.5%
We simply divide net income by net sales in order to achieve the gross profit margin. This indicates a correlation between net income or net income and net sales.
All other information provided is irrelevant. Therefore, it was ignored
Answer:
The amount of taxes that Tim can deduct as an itemized deduction is $7,340
Explanation:
The computation of the itemized deduction is shown below:
= State income tax for the previous year + state income tax from his salary + estimated payments of state income tax
= $1,100 + $5,050 + $1,190
= $7,340
The other item values which are mentioned in the question are not considered and not affect the deductions for current year So, we do not take in the computation part. Hence, ignored it
Answer:
B. List Operational Costs
Explanation:
Answer:
the number of units to be produced is 214,800 units
Explanation:
The computation of the number of units to be produced is given below;
= Budgeted units sales + required ending inventory - opening inventory
= 204,000 units + (240,000 units × 30%) - 61,200 units
= 204,000 units + 72,000 units - 61,200 units
= 214,800 units
Hence, the number of units to be produced is 214,800 units
We simply applied the above formula so that the correct units could come
