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Ad libitum [116K]
2 years ago
13

A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective

tax rate of 20%. Eneri uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period?
Business
2 answers:
adoni [48]2 years ago
7 0

Answer:

Gross profit is $42,000

Explanation:

stira [4]2 years ago
4 0

<em>Answer</em>:

<u>$52,000</u>

Explanation:

Remember, the FIFO inventory costing method records the inventory value based on the cost of the earliest (first) purchased or in hand balance.

The effective tax rate would usually be applied after the sales, however using FIFO we assume the first value of the inventory prior to the tax deduction.

= 4000 x $13

= $52,000

Therefore, the gross profit for the period is $52,000.

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what is a patent registration, design registration, NDA( non disclosure agreement, and a trademark registration
nata0808 [166]

Answer:

find all answers in the explanation below

Explanation:

Patent Registration: This can be defined as the registration of the protection an invention to ensure that no one can make a copy of the said invention elsewhere. A patent registration is usually done after obtaining a patent right. A patent is the protection of an invention or idea to ensure that it is not produced or sold, etc by another individual. Patents are usually issued by the Patent and Trademark Office

Design Registration: This is the registration of a design such that it cannot be used elsewhere by another person. The registration of a design helps to protect the external look of an invention or product to ensure it is unusable anywhere else.

Non disclosure agreement: This is a legal contract that exists between two parties in which confidential messages, information, etc exchanged between them cannot be revealed to a third party. A non disclosure agreement is also called a confidential agreement or secrecy agreement or confidential disclosure agreement, etc among other names.

Trademark Registration: This can be defined as the registration of the protection of a company's mode of identity with its customers. Trademarks range from signs to symbols, to words, etc.

Cheers.  

8 0
3 years ago
Once dan kim has successfully tested the concept for a new product, his next step would be
natali 33 [55]

Develop the product / Release the new product.

7 0
3 years ago
Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $3,360,000 (240,00
mixer [17]

Answer:

Option (C) is correct.

Explanation:

Given that,

Estimated overhead cost = $1,540,000

Estimated direct labors (in dollars) = $3,360,000

Estimated direct labor hours = 240,000

Actual overhead cost = $1,240,000

Predetermined overhead rate:

= Estimated overhead cost ÷ Estimated direct labor hours

= $1,540,000 ÷ 240,000

= $6.42 per direct labor hour

6 0
3 years ago
Bonita Realty Management Co. received a check for $32,400 on August 1, which represents a one year advance payment of rent on an
ludmilkaskok [199]

Answer:

Explanation:

The adjusted journal entry is shown below:

Unearned rent revenue A/c Dr

      To Rent revenue A/c

(Being the adjusted entry of rent is recorded)

The computation of the rent revenue is shown below:

= Received amount × number of months ÷ (total number of months in a year)

= $32,400 × (5 months ÷ 12 months)

= $13,500

The 5 months is calculated from August 1 to December 31

3 0
3 years ago
Parne Two large American beer producers have decided to merge and seek government approval. They claim that by joining forces th
leonid [27]

Answer:

The correct answer is letter "A": Beer prices will go down.

Explanation:

Usually, when two large companies merge they take most or almost all part of their market causing a monopoly. This implies the recently-merged company to set the price of the goods according to what they believe is suitable which does not necessarily match with the consumers' expectations. However, for the companies in the case to prove the government that the merger will benefit the economy, they must show that the price of the beer will go down which is the opposite of what is expected under other regular situations.

5 0
3 years ago
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