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
telo118 [61]
4 years ago
12

Tuity Fruity Beverage Company's operating activities for the year are listed below.Purchases $140,100Operating expenses 80,400Be

ginning inventory 13,000Ending inventory 19,000Sales revenue 300,400What is the gross profit for the year?A) $160,300B) $300,400C) $80,400D) $166,300
Business
1 answer:
GuDViN [60]4 years ago
8 0

Answer:

D) $166,300

Explanation:

The computation of gross profit is shown below:

= Sales - cost of good sold

where,

Sales is $300,400

And, the cost of goods sod equals to

= Opening inventory + purchase - ending inventory

= $13,000 + $140,100 - $19,000

= $134,100

Now put these values to the above formula

So, the answer would be equal to

= $300,400 - $134,100

= $166,300

You might be interested in
On July 1, 2020, Sheffield Co. pays $10,480 to Tamarisk Insurance Co. for a 2-year insurance policy. Both companies have fiscal
Gwar [14]

Answer:

Explanation:

The journal entry is shown below:  

On July 1

Prepaid Insurance A/c Dr $10,480

         To Cash A/c $10,480

(Being prepaid insurance is paid)

On December 31

Insurance expense A/c Dr $2,620

         To Prepaid Insurance $2,620

(Being prepaid insurance is adjusted)

The computation is shown below:

= $10,480 ÷ 2 years × 6 months ÷ 12 months

= $2,620

5 0
3 years ago
Which of the following is an example of how managers use production cost reports to control​ costs? A. promoting products that a
Fudgin [204]

Answer:

The answer is: setting product prices high enough for the company to be profitable.

Explanation:

Production cost refers to the <u>cost that a company has incurred from the moment it manufactured its product, towards the delivery until it provided the product or service to the customers. </u>Part of this cost are the taxes that are imposed on the product or service.

So, in order to control costs, the production cost report is being used by managers in order to set product prices high enough for the company to be profitable.

or example, if the production cost is higher than the sale price of a product, then the company could either l<u>ower their production cost or set their product prices high enough in order to be profitable.</u> If they cannot do both, then they could stop producing the product or service.

3 0
4 years ago
Type the correct answer in the box. Spell all words correctly
sesenic [268]

Answer:

.. .

Explanation:

5 0
4 years ago
Healthy competition among businesses is good for consumers.<br><br> True or False
Ludmilka [50]

I say true because it seems like most likely answer.

5 0
3 years ago
In September of Year 1, Hansen Company issued a note payable to borrow money from its bank. Principal and interest on the note w
Ghella [55]

Answer: True

Explanation:

As a result of the Accrual principle in accounting, transactions need to be recorded in the period that they occur in and not in the period they are paid for in.

The interest in Year 1 was incurred in year 1 and so will need to be recorded in year 1 for the period from issuance of the note to the last day of the accounting period.

This means that if the last day of the accounting period is December 31st, the interest for year 1 would have to be accrued from September to December of year 1 and recorded as year 1 interest.

4 0
4 years ago
Other questions:
  • Do the following activities contribute to US GDP in 2020? Explain why or why not? In which year do these activities contribute t
    10·1 answer
  • Who was the general manager of the ritz carlton in phoenix when they won the baldrige national quality​ reward?
    9·1 answer
  • Which of the following securities is exempt from registration under the Securities Act of 1933?a. Shares of nonvoting common sto
    15·1 answer
  • Assume that Sandhill completed the office and warehouse building on December 31, 2020, as planned at a total cost of $12,480,000
    10·1 answer
  • Company purchased equipment on January​ 1, 2017 for $600,000. The residual value is $60,000 and the estimated useful life is 10
    13·1 answer
  • It is sometimes difficult to determine whether large corporations such as the Carlyle Group, or Wall Street overall, are expandi
    11·1 answer
  • The following transactions are February activities of Swing Hard Incorporated, which offers golfing lessons in the northeastern
    13·1 answer
  • Charlotte is trying to measure her salon's productivity during the first quarter. For this period, she should divide ________ by
    11·1 answer
  • Working capital is ______. Multiple select question. treated as a cash inflow when released at the end of a project. not discoun
    6·1 answer
  • Alicia deposited $400 in the bank. The bank paid her simple interest at the rate of 5 percent per year. How much money will she
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!