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
Otrada [13]
3 years ago
13

Turner Corporation acquired two inventory items at a lump-sum cost of $80,000. The acquisition included 3,000 units of product L

F, and 7,000 units of product 1B. LF normally sells for $24 per unit, and 1B for $8 per unit.
If Turner sells 1,000 units of LF, what amount of gross profit should it recognize?

a. $3,000b. $9,000.c. $16,000.d. $19,000.
Business
1 answer:
OverLord2011 [107]3 years ago
8 0

Answer:

c. $16,000

Explanation:

Total cost of both products = $80,000

Units of product LF = 3000

units of product 1B = 7000

Selling price per unit of LF = $24

Selling price per unit of 1B = $8

Cost of 3000 units of LF

= (3000/10000) × 80000

= $24,000

If 3000 units cost $24,000

1000 units would cost

= (1000/3000) × 24000

= $8,000

If Turner sells 1000,

Revenue from the sale

= 1000 × 24

= $24,000

Gross profit from this sale = $24,000 - $8000

= $16,000

The right option is c. $16,000.

You might be interested in
International firms have found it necessary to institute formal global planningA. to eliminate the practice of informal planning
Julli [10]
A is the correct answer
6 0
3 years ago
A ________ plan distributes compensation based on some established formula designed around revenue of the company. Group of answ
Komok [63]

Answer:

profit-sharing

Explanation:

As in the partnership, the profit and losses are shared between the partners in their profit losses sharing ratio so the profit sharing plan deals in the same thing if the compensation is distributed so it would be distributed based on the profit sharing plan so that everyone can get their share and according to that the work can done in a smoothly manner      

5 0
3 years ago
Amanda Winter worked as a public engagement coordinator at Safe Food Alliance until three months ago when her manager, Laura Mor
fenix001 [56]

Answer:E. Laura worked closely with Amanda over a period of eight months.

Explanation: As a manager, Laura has worked with Amanda for a period of time. As her manager, supervising her work over a period of time made her feel she is capable of handling a project on her own without been supervised or told what to do. But she is wrong or has been proven wrong by Amanda's inability to handle the project as the project is falling behind schedule.

6 0
3 years ago
You are the project manager for the Late Night Smooth Jazz Club chain, with stores in 12 states. Smooth Jazz is considering open
scoundrel [369]

Answer:

Project Kansas City

Explanation:

Payback period: It reflects the period at which the investor recovered their invested money. It always shows in years.  

IRR: It refers to the internal rate of return. It shows an interest rate at which the Net present value is zero or the initial investment and the present value of all years cash flow would be equal

In the question, it is mentioned that Project Kansas city has a payback period of 27 months and IRR is 6% whereas the project Spokane has a payback period of 25 months and IRR is 5%.

So if we compare both the projects based on IRR, the project Kansas city has higher IRR which means it produces a higher return in the near future.

3 0
3 years ago
the present value of a cash flow will never be greater than the future dollar amount of the cash flow. t or f
svlad2 [7]

The following statement "the present value of a cash flow will never be greater than the future dollar amount of the cash flow" is true.

Cash flow is the net balance of money coming into and going out of a firm at a certain moment in time. A firm continuously has cash coming in and going out. For instance, money leaves the company and goes to its suppliers when a retailer buys inventory.

The expenses made as part of daily operations are included in the cash flow from operations. These cash outflows include things like rent, utilities, wages, and the cost of products sold. When a corporation operates heavily on the seasonal cycle, cash outflows might vary greatly.

To know more about Cash Flow here

brainly.com/question/24179665

#SPJ4

4 0
2 years ago
Other questions:
  • Read the following scenario and answer the question in 5-10 sentences. You are an experienced small business owner who would lik
    5·1 answer
  • What is the Clementine's volume variance for SALES? If the variance is unfavorable put a minus sign in front of your answer.
    13·1 answer
  • For each example of a reward, identify whether it is an extrinsic or intrinsic reward.1)The employees were happy with the new la
    6·1 answer
  • What is the maximum amount you would pay for an asset that generates an income of $ 250,000 at the end of each of five years if
    7·1 answer
  • Suppose that the production function faced by a 30-weight ball bearing producer is given by Q- 4KL, where MP = 2K2 and MP = 2K L
    8·1 answer
  • MicroTech Corporation maintains a capital structure of 40 percent debt and 60 percent common equity. To finance its capital budg
    13·1 answer
  • Moonlight Bay Inn is incorporated on January 2, 2014, by its three owners, each of whom contributes $20,000 in cash inexchange f
    9·1 answer
  • What modification options are available in Design view of a report? Check all that apply.
    14·2 answers
  • What advice would you give to brand managers whose brands have become victims of brand hate? Illustrate your answer with at leas
    9·1 answer
  • A __________ represents a long-term partnership between two or more companies established to help each firm build competitive ma
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!