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
quester [9]
3 years ago
5

Bergeron is a local manufacturer of off-shore drilling platforms. In 2020, Bergeron entered into a contract to construct a drill

ing platform, which will be placed in the North Atlantic Ocean. The total contract price is $5,000,000, and Bergeron estimates the total construction cost at $2,000,000. Actual costs incurred in 2020 are $600,000. If Bergeron uses the completed contract method, the gross profit for 2020 is
Business
1 answer:
forsale [732]3 years ago
6 0

Answer:

$900,000

Explanation:

The first step is to calculate the percentage completed

= 600,000/2,000,000

= 0.3

The revenue can be calculated as follows

= 5,000,000 × 0.3

= 1,500,000

Therefore the gross profit for 2020 can be calculated as follows

=1,500,000 -600,000

= $900,000

You might be interested in
Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits an
ikadub [295]

Answer:

$ 226.04

Explanation:

Given:

Paying fund, FV = $ 30000

Interest rate, i = 2%

Time, t = 10 years

Now,

\textup{PMT}=\textup{FV}[\frac{i}{(1+i)^n-1}]

since, the payment is made monthly

thus,

n = 10 × 12 = 120 months

i = 2% / 12 = 0.02 / 12

on substituting the values in the above equation, we get

PMT={30000}[\frac{\frac{0.02}{12}}{(1+{\frac{0.02}{12}})^{120}-1}]

or

PMT = $ 226.04

3 0
3 years ago
The name for minimum energy expended to keep a resting, awake body alive is _______________. This represents about 60% to 70% of
Solnce55 [7]

The name for minimum energy expended to keep a resting, awake body alive is basal metabolic rate. This represents about 60% to 70% of total energy expenditure.

What is basal metabolic rate?

As we know that to keep our most life-sustaining activities at a position of rest, our body needs a lot of calories, so basal metabolic rate (BMR) simply helps in determining how much calories are actually needed to perform such activities such as energy needed at the time when our body is resting or we are sleeping. The best basal metabolic rate (BMR) is between 1000-2000, means there should be an intake of around 1000-2000 of calories each day so that these activities should be carried out.

Learn more about basal metabolic rate (BMR) here: brainly.com/question/27976523

#SPJ4

4 0
1 year ago
Dear Ms. Clinton: We have a problem. The other day I saw one of my coworkers loading boxes into the trunk of her car. I offered
Novosadov [1.4K]

Give more specific information, including dates and names.

Answer: Option B.

<u>Explanation:</u>

Since the situation that has been talked about in the question is a situation in which a doubt is shown on one of the employees of the organisation. This situation needs to be studied further and it is to investigated to reach to a conclusion and punish the culprit involved in it.

But to catch the culprit, the investigation is to be done properly and for that certain very important evidences are to be provided which would lead the investigation. So you should for that reason provide the date, the name of the employee, the time and so on.

4 0
2 years ago
When someone owns an asset (such as a share of stock) that rises in value, he has an "accrued" capital gain. If he sells the ass
puteri [66]

Answer:

Please check the answer below

Explanation:

a. One issue is the "locking-in" of assets. If I hold shares of Corporation X, then I can delay paying taxes as long as I don't sell. Effectively, I get to keep all of the interest/dividend payments on my tax liability. However, if I discover that X is really a poor investment and Corporation Y is better, then selling X and buying Y means that I have to pay taxes. This might discourage me from making a switch to a more profitable/efficient investment decision. This is the "locking-in" effect.

b. A short-run cut might cause many people to sell stocks that they had felt "locked-in" with. The penalty for switching is smaller, so more people will do it -- resulting in a great deal of cap gains tax revenue collected.

c. Taxing realized gains, even when the stock is not sold, rather than just accrued gains would eliminate this locking-in effect. Investors would not be penalized for switching to a better investment, and long-term capital gains revenue (as well as efficiency) would rise.

6 0
3 years ago
Garnett Co. expects to purchase $90,000 of materials in July and $105,000 of materialsin August. Three-quarters of all purchases
marissa [1.9K]

Answer: $101,250

Explanation:

Given that,

Expects to purchase material in July = $90,000

Expects to purchase material in August = $105,000

August's cash disbursements for materials purchases:

= 75% of August purchases + 1/4 of July purchases

= 0.75 × $105,000 + 0.25 × $90,000

= $78,750 + $22,500

= $101,250

7 0
3 years ago
Other questions:
  • One important point to remember is that just because a difference between two treatment groups is found to be statistically sign
    7·1 answer
  • When writing about the effects, or impact, of the 1969 moon landing, which organizational pattern would be most effective?
    8·2 answers
  • Hi-Tek is a young start-up company that is currently retaining all of its earnings. The company plans to pay a $2 per share divi
    12·1 answer
  • The ideal, initial step leading to implementation of an effective employee communications program should begin with
    7·1 answer
  • Johnson Corporation unadjusted trial balance at year-end include the following accounts. Compute the uncollectible account expen
    10·1 answer
  • Trak Corporation incurred the following costs while manufacturing its bicycles.
    14·1 answer
  • Which of the following occurs when a 2-for-1 stock split is declared?A) The balance in Common Stock remains the same.B) The bala
    5·1 answer
  • George is an entrepreneur who owns a large office that has a few meeting rooms. Almost every day, he sees that there are conflic
    5·1 answer
  • Snyder Painting is transitioning to an ABC system. So far, the company has traced its costs back to several different activities
    5·1 answer
  • 4. The national average utility cost is $270. 48 per month. If the average electric bill is 44. 9% of the total amount and the a
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!