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
densk [106]
3 years ago
8

Banks make a profit by

Business
2 answers:
Neporo4naja [7]3 years ago
7 0
When people take money out of the bank, they have to pay them back with a little more and interest is why.<span />
Anton [14]3 years ago
4 0
Banks make a profit by charging interest
You might be interested in
A person who is named to receive the benefits from an insurance policy is a(n)
Finger [1]
Just going on a whim:

primary beneficiary?
4 0
3 years ago
What is the term for an interval smaller than a step?.
Svetach [21]

Answer:

Half step

Explanation:

If you're talking about music, then a half step is smaller than a step.

7 0
2 years ago
The marginal product of labor in the production of computer chips is 3030 chips per hour. The marginal rate of technical substit
fredd [130]

Answer:

150

Explanation:

As we know that

The marginal rate of technical substitution ​(MRTS) = Marginal product of labor ÷ Marginal product of capital

where,

The marginal rate of technical substitution ​(MRTS) = 0.20

And, the marginal product of labor is 30 chips per hour

So, the marginal product of capital is

= 30 chips per hour ÷ 0.20

= 150

The marginal rate of technical substitution ​(MRTS​) shows a relationship between the marginal product of labor and the marginal product of capital

5 0
3 years ago
Consider the following account balances (in thousands) for the Peterson Company.
Leya [2.2K]

Answer:

Peterson Company

1. A schedule for the cost of goods manufactured for 2017:

A. Peterson Company

Schedule of Cost of Goods Manufactured

For the Year Ended December 31, 2017 (in thousands)

Beginning direct materials inventory            21,000

less ending direct materials inventory        (23,000)

Beginning Work-in-process inventory         26,000

less ending work in process inventory      (25,000 )

Purchases of direct materials                       74,000

Direct manufacturing labor                          22,000

Indirect manufacturing labor                        17,000

Plant insurance                                               7,000

Depreciation - plant, building, & equipment 11,000

Repairs and maintenance - plant                  3,000

Total cost of manufactured goods         $133,000

B. Peterson Company

Schedule of Cost of Goods Manufactured

For the Year Ended December 31, 2017 (in thousands)

Direct materials

Beginning direct materials inventory            21,000

Purchases of direct materials                       74,000

Cost direct materials available                     95,000

less ending direct materials inventory         23,000

Direct materials used                                           72,000

Direct manufacturing labor                                 22,000

Indirect manufacturing costs:

Labor                                     17,000

Depreciation                         11,000

Plant Insurance                     7,000

Repairs and maintenance    3,000            

Total Indirect manufacturing costs                    38,000

Manufacturing costs incurred during 2017  $132,000

Beginning work in process inventory             26,000

Total costs to account for                             $158,000

less ending work in process inventory          25,000

Cost of goods manufactured                      $133,000

2. Peterson Company

Income Statement

For the Year Ended December 31, 2017 (in thousands)

Sales Revenue                                                      $310,000

Cost of goods sold:

Beginning Finished goods inventory      13,100

Cost of goods manufactured               133,000

Cost of goods available for sale         $146,100

less ending Finished goods inventory 20,000

Cost of goods sold                              $126,100      126,100

Gross profit                                                           $183,900

Operating costs :

Selling & Distribution costs  91,000

General & Admin. costs      24,000

Total operating costs                                            $115,000

Operating income (loss)                                       $68,900

Explanation:

The cost of manufactured goods is the sum of the costs of direct materials, direct labor, manufacturing overhead, and work in process inventory.

The cost of goods for sale is the sum of the beginning finished goods inventory plus the cost of manufactured goods less the ending finished goods inventory.

The income statement is a statement of revenue and costs in order to show the financial performance of an entity during a period of time.  It shows the gross profit and net operating profit or loss.

The Gross profit is the difference between Sales Revenue and the Cost of goods sold.

The Operating Profit (Loss) is the difference between the Gross profit and the Operating costs.

8 0
3 years ago
What is the journal for : Incurred loan of $1000 from swiss bank. ?​
Fiesta28 [93]

Answer:

DR: Cash $1000

CR: Loan Payable $1000

Explanation:

N/A

8 0
3 years ago
Other questions:
  • The assets of Prosian Italia, a marble and granite company, amount to $400 million, and its liabilities add up to $180 million.
    14·1 answer
  • The database contains three tables containing information about this company's sales process: Inventory, Sales and Salesitems. U
    10·1 answer
  • How is going public a way to secure capital without going into debt? Name a company that has held an IPO.
    7·1 answer
  • Most students are on strike. Very few students were crossing the picket line. In fact, the postal employees refused to deliver m
    7·1 answer
  • Sheffield Corp. started the year with $63600 in its Common Stock account and a credit balance in Retained Earnings of $46600. Du
    12·1 answer
  • During the Asian financial crisis, the leading financial powers seemingly either declined to take part in the rescue operations,
    10·1 answer
  • Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life’s balance sh
    7·1 answer
  • A nation's production possibilities curve is bowed out from the origin because: A. resources are not equally efficient in produc
    6·1 answer
  • Question: SANDHILL CO. Balance Sheet Assets Cash $29,100 Supplies (a) Equipment (net) 61,000 Total assets $...
    5·1 answer
  • What are the three activities according to which a statement of cash flows is organized?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!