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Lesechka [4]
3 years ago
8

Skymont Company wants an ending inventory each month equal to 30% of that month's cost of goods sold. Cost of goods sold for Feb

ruary is projected at $45,000. Ending inventory at the end of January was $12,000. Based on this information, purchases for February would be:
Business
1 answer:
Law Incorporation [45]3 years ago
5 0

Answer:

Purchases for February would be: $46,500

Explanation:

Prepare a Purchases Budget to find the Purchases for February.

<u>Purchases Budget for February</u>

Budgeted Cost of Sales                                                    $45,000

Add Budgeted Closing Inventory ($45,000 × 30%)         $13,500

                                                                                           $58,500

Less Budgeted Opening Inventory                                 ($12,000)

Budgeted Purchases                                                         $46,500

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Answer:

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While most of this debate has focused on the automotive manufacturing sector, there is a wider question that needs to be answered. This relates to the issue of whether it is feasible for an advanced economy to grow and prosper without a manufacturing sector?

Explanation:

3 0
3 years ago
If the Netherlands enjoys comparative advantage in the production of dairy products, it implies that the opportunity cost of pro
sladkih [1.3K]

Answer:

False

Explanation:

A country has comparative advantage in production if it produces at a lower opportunity cost when compared with its trading partners.

I hope my answer helps you

7 0
3 years ago
John (45) and Cynthia (46) are married, and they will file a joint return. During the year, they earned investment income consis
svetlana [45]

Answer:

                          Calculation of Net taxable income

Particulars                                                        Amount        Amount

Interest income from savings interest                                   $200

Interest income from certificate deposit                                $350

Dividend from saving account with                                        $100

local credit union  

Interest income from us treasury note                                    $250

Tax exempt interest from municipality bond                          $500

Ordinary dividend                                                                     <u>$1,700</u>

Gross total income                                                                    $3,100

<u>Income exempt</u>

Dividend from saving account                           $100

Dividend from treasury note                              $250

Tax exempt interest from municipality bond    <u>$500</u>              <u>$850</u>

Net taxable income                                                                   <u>$2,250</u>

8 0
3 years ago
Jacqui decides to open her own business and earns $50,000 in accounting profit the first year. When deciding to open her own bus
Ira Lisetskai [31]

Answer:

C) $4,000

Explanation:

To calculate economic profit we can use the following formula:

economic profit = total revenue - (accounting costs + implicit costs) = (total revenue - accounting cost) - implicit costs

where:

  • accounting profit = total revenue - accounting cost = $50,000
  • implicit costs: ($20,000 x 5%) + $45,000 = $1,000 + $45,000 = $46,000

economic profit = $50,000 - $46,000 = $4,000

3 0
3 years ago
Assume Metro Corporation had a net income of $ 2,200 for the year ending December 2018. Its beginning and ending total assets we
Aleksandr-060686 [28]

Answer:

The return on assets is 8.4%

Explanation:

In order to calculate the return on assets we will first need to find the average total assets. We will do this by adding the beginning and ending total assets and dividing it by 2.

Average total assets= (31,500+20,500)/2= 26.000

Now in order to find the return on assets we will divide the net income by the average total assets.

Return on assets = 2,200/26,000=0.084=8.4%

7 0
3 years ago
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