Answer:
Gross margin = $219,000
Operating income = $198,720
Explanation:
The computation of gross margin
and operating expenses is shown below:-
Gross margin = Net sales - Cost of goods sold
= $788,500 - $569,500
= $219,000
Net income = Gross margin - Operating expenses
$26,280 = $219,000 - Operating expenses
Operating expenses = $219,000 - $26,280
= $198,720
Therefore the gross margin is $219,000 and operating income is $198,720
We simply applied the above formulas
Answer:
Option D: Incorporates both financial and operational performance measures
Explanation:
Balance Scorecard Concept
This was said to be published in 1992 by Kaplan and Norton. Thereafter, a book version was made in 1996.
It is also said to be a form of Traditional performance measurement that depends on external accounting data as out of date(old/out of use).
This approach aim to obtain 'balance' to the financial perspective.
Balanced Scorecard
This is simply regarded as a form of strategic planning and management system that is being used to merge or align business activities to the vision and strategy of the organization through the act of monitoring performance against strategic goals.
Importance of Balanced Scorecard
1. Improve organizational performance by measuring what matters
2. Increase focus on strategy and results
3. Align organization strategy with workers on a day-to-day basis.
3. Focus mainly on the drivers key to future performance
Honestly I would say being an entrepreneur is the most complex and difficult to form, especially if you're trying to build from the ground up it can take a matter of 4-5 maybe more years, this isn't a "answer" ore of an "opinion."
Hope this helped though!
Answer:
70 days
Explanation:
For computing the number of days first we have to determine the credit turnover ratio which is shown below:
Credit turnover ratio is
= (Cost of Goods Sold ÷ Average accounts payable)
= ($45,021 ÷ $8,583)
= 5.245 times
Now the number of days is
= Total number of days in a year ÷ credit turnover ratio
= 365 ÷ 5.245
= 70 days
