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densk [106]
3 years ago
13

Sales are budgeted at $350,000. All sales are on account and a provision for bad debts is made for each month at two percent of

sales for the month. Inventory was $101,000 on April 30; an inventory increase of $14,000 is planned for May 31. All inventory is marked to sell at cost plus 40 percent. Estimated cash disbursements for selling and administrative expenses for the month are $65,000. Depreciation for May is projected at $7,700. Brownsville's budgeted cost of goods sold (CGS) in May is:
Business
1 answer:
kobusy [5.1K]3 years ago
3 0

Answer:

Cost of goods sold= 250,000

Explanation:

We can calculate the cost of good sold based on the markup policy of the firm:

Sales price: cost + 40% over cost markup

sales price = cost ( 1 + 40%) = 1.4 cost

so we can calculate cost of good sold for May from the sales figure.

350,000 sales =  1.4 cost

350,000 / 1.4 = cost

Cost of goods sold= 250,000

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Presented below are three economic events. In each column, indicate whether the event increased, decreased, or had no effect on
Wewaii [24]

Answer:

See attached file

Explanation:

Accounting Equation Formula:

Assets = Liabilities + Stockholders' Equity

The equation shows that Assets are increased by Debits and decreased by Credits, instead, Liabilities and Stockholders´ Equity decreased by Debits and increased by Credits. In the file, Debits and Credits are represented by the word increased and decreased according to if the transaction has a positive or negative effect on each element.

6 0
4 years ago
What do you think are the most important components of budgeting? Why?
Murljashka [212]

Answer:

I would have to say figuring out ur cash flow where its going after u earn it and making sure u keep track of ur savings

Explanation:

5 0
3 years ago
fsa what percentage of your gross salary does the consumer financial protection bureau suggest your student loan payment be in o
grandymaker [24]

To maintain a low student loan repayment burden, the Consumer Financial Protection Bureau suggests student loan payments should not exceed 8% of your gross salary. A student loan is a form of loan that is intended to assist the students in paying for post-secondary education and associated fees such as tuition, books and supplies, and living expenses.

It may differ from the other forms of loans in that the interest rate is significantly lower and the re- payment plan is deferred while the student is still enrolled in the school. Many countries also have strong laws governing the  renegotiating and bankruptcy.

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3 0
1 year ago
A companies profit motive benifits consumers by ensuring the products and services they need are aviable at a high quality
Brilliant_brown [7]

Answer:

A. The invisible hand

Explanation:

CHECK THE COMPLETE QUESTION BELOW

A company's profit motive benefits consumers by ensuring the products and services they need are available at a high quality. what is this describing?

A. The invisible hand

B. Mixed economy

C. Laissez-faire

D. Private enterprise

The invisible hand can be regarded as a metaphor used in describing the unseen forces which is responsible for movement of the free market economy. With freedom of production as well as individual self-interest and consumption, we can fulfill best interest of society. This is a concept by Adam Smith. For instance, A company's profit motive benefits consumers by ensuring the products and services they need are available at a high quality, describe invisible hand.

8 0
3 years ago
The commission structure on a stock purchase is $45 plus $0.04 per share. If you purchase five round lots of a stock selling for
Vedmedyk [2.9K]

The commission for purchasing five round lots of a stock selling for $130 is $65.

<h3>What is round lots of a stock?</h3>

A specified quantity of securities to be traded on an exchange is known as a round lot. In the stock market, a round lot is defined as 100 shares or a bigger number that may be divided in half equally.

1 round lots = 100 shares

5 round lots = 500 shares

The commission structure on a stock purchase is $45 plus $0.04 per share.

For 500 shares, the commission is

= 45 + 0.04×500

= 65

Therefore, the commission for purchasing 500 shares of stock selling for $130 is $65.

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7 0
2 years ago
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