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
lozanna [386]
3 years ago
13

Carrier Lennox Trane York Sales $ 150,000 $ 550,000 $ 38,700 $ 255,700 Sales discounts 5,000 17,500 600 4,800 Sales returns and

allowances 20,000 6,000 5,100 900 Cost of goods sold 79,750 329,589 24,453 126,500 Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i.e.; 0.2367 should be entered as 23.7%.)
Business
1 answer:
kvv77 [185]3 years ago
7 0

Answer:

The Net sales of Carrier, Lennox, Trane, York is $125,000, $526,500, $33,000 , and $250,000 respectively

The gross profit of Carrier, Lennox, Trane, York is $45,250,  $196,911,  $8,547, and $123,500 respectively

The gross margin ratio of Carrier, Lennox, Trane, York is 36.2%,  37.4%, 37.4%, and 49.4% respectively.

Explanation:

The computation of the net sales is shown below:

= Sales - sales discounts - sales  returns and allowances

For Carrier, the net sales would be

= $150,000 - $5,000 - $20,000

= $125,000

For Lennox, the net sales would be

= $550,000 - $17,500 - $6,000

= $526,500

For Trane, the net sales would be

= $38,700 - $600 - $5,100

= $33,000

For York, the net sales would be

= $255,700 - $4,800 - $900

= $250,000

The computation of the gross profit is shown below:

= Net sales - cost of goods sold

For Carrier, the gross profit would be

= $125,000 - $79,750

= $45,250

For Lennox, the gross profit would be

= $526,500 - $329,589

= $196,911

For Trane, the gross profit would be

= $33,000 - $24,453

= $8,547

For York, the gross profit would be

= $250,000 - $126,500

= $123,500

The computation of the gross margin is shown below:

= (Gross margin ÷ net sales) × 100

For Carrier, the gross margin ratio would be

= ($45,250 ÷ $125,000) × 100

= 36.2%

For Lennox, the gross margin ratio would be

= ($196,911 ÷ $526,500) × 100

= 37.4%

For Trane, the gross margin ratio would be

= ($8,547 ÷ $33,000) × 100

= 25.9%

For York, the gross margin ratio would be

= ($123,500 ÷ $250,000) × 100

= 49.4%

You might be interested in
دریافت رمز شماره کارت عابربانک وحساب بهاره تبری
frez [133]
SORRY BUT YOU CAN ANSWER THIS HERE YOU HAVE TO FIND A WEBSITE FOR YOUR LANGUAGE
5 0
3 years ago
Read 2 more answers
Which of the following is an example of trade barriers imposed by Japan? Multiple Choice U.S. basTo comprehend why a society thi
lana [24]

The correct option is E). All of these choices are correct.

<h3>What trade barriers were imposed by Japan?</h3>

Along with the tariff barriers, Japan also have some non-tariff barriers that may impact commercial activity of foreign products into Japan.

Japan prohibited the imports of narcotics, firearms, explosives, and products that violate intellectual property laws.

Japan's tariff system offers lower and duty-free rates to those products which has been imported from developing countries.

Learn more about the trade barriers in Japan here:-

brainly.com/question/27863334

#SPJ1

3 0
1 year ago
On January​ 1, 2018, Brazos Company purchased equipment and signed a sixminusyear mortgage note for $ 186 comma 000 at 15​%. The
kifflom [539]

Answer:

The journal entry to record the first installment payment will include a​ debit to interest expense of $27,900, mortgage notes payable of $21,248 and a credit to cash account of $49,148

Explanation:

For recording the first installment payment, we have to compute the interest amount which is given below:

Interest amount = value of Mortgage note × rate × year

                           = $186,000 × 15% × 1 year

                           = $27,900

Since we have to compute the installment for January​ 1, 2019, therefore, we take the one year period

Now, we have to compute the principal amount which equals tp

= Installment amount - interest expense

= $49,148 - $27,900

= $21,248

So, the journal entry would be

Interest expense A/c Dr             $27,900

Mortgage note payable A/c Dr   $21,248

    To Cash                                                       $49,148

(Being payment of the first installment recorded)

7 0
2 years ago
The study of how people choose to use scarce resources to satisfy their wants and needs​
NeTakaya

Answer:

Economics

Explanation:

Economics is the study of the activities that individuals and society undertake to satisfy their unlimited wants using scarce resources. Economics involves analysis of the production of goods and services, their distribution and consumption in a country. It involves the study of how individuals, firms, and the government allocates scarce resources to meet the need of society.

Economics is categorized in microeconomics and macroeconomics.  Microeconomics concentrates on the key economic indicators such as demand, supply, and income and how they affect an individual, firm, or product.  Macroeconomics studies the economic conditions in a country as a whole. It is concerned with issues such as inflation, Unemployment rate, and GDP

5 0
3 years ago
Brief Exercise 12-1 Barbara Ripley and Fred Nichols decide to organize the ALL-Star partnership. Ripley invests $27,000 cash, an
Marysya12 [62]

Answer:

The journal entry is as follows:

Cash A/c Dr. $18,000

Equipment (Fair value) A/c Dr. $9,000

           To N's  capital                            $27,000

(To record the investment bought by Nichols)

Workings:

Cash contributed by Nichols = $18,000

Equipment's Book value = $6,300

Fair value of equipment = $9000

Nichols capital = $18,000 + $9,000

                         = $27,000

8 0
3 years ago
Other questions:
  • Yields on short-term bonds tend to be more volatile than yields on long-term bonds. Suppose that you have estimated that the yie
    12·1 answer
  • Which is an example of a withholding you might see on your pay stub?
    14·2 answers
  • Which account is credited when a job is completed? finished goods inventory. sales revenue. cost of goods sold. work in process
    12·1 answer
  • HR creates the company’s first performance appraisal system. Managers are required to review employee productivity at least once
    13·1 answer
  • TCost-908 Car Mechanic Inc. uses a job-order costing system. The company applies all of its overhead costs to jobs using a prede
    12·1 answer
  • What is meant by activity analysis? Give 3 criteria for determining whether an activity adds value.
    9·1 answer
  • This year, Amy purchased $1,900 of equipment for use in her business. However, the machine was damaged in a traffic accident whi
    11·1 answer
  • Price rises from $10 to $11, and the quantity demanded falls from 100 units to 95 units. What is the price elasticity of demand
    5·1 answer
  • Suppose a monopolistically competitive firm is earning an economic profit. The marginal revenue from selling an additional unit
    10·1 answer
  • Scott Company had sales of $12,350,000 and related cost of goods sold of $7,500,000. Scott provides customers a refund for any r
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!