In the given question GP ratio will be 53.4%
Here Net sales= 296000 $
Cost of goods sold= 138000 $
average inventory= 50000 $
Gross profit= Net sales- Cost of goods sold
=296000-138000
=158000
Formula for calculating Gross profit ratio is:
Gross profit/ Net sales *100
= 158000/296000*100
=53.4%
Gross profit ratio is a financial ratio which measures the performance and efficiency of a business by dividing its gross profit by the total net sales. The gross profit ratio can also be expressed in the form of percentage by multiplying the result by 100.
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Answer:
C) competitive <u>analysis</u>
Explanation:
A competitive analysis is a business plan part which reflects on the key competitors of our business (their key characteristics which are relevant for our business plan or product in general).
In this example, Robert would bring out the key characteristics of the construction industry (industry trends, industry segments etc.) and list out the relevant competitors and their potential <em>competitive advantage</em>. If Robert's company is a construction business specialized in skyscraper building in LA, he would list construction companies specialized in high-rise building located in California.
With the aid of a proper competitive analysis, Robert will be able to point out the business areas where it is possible to surpass our competitors. For example, when Robert decomposes the product features of the ABC competitor company - materials used, project cost, project length, skyscraper portfolio, only then he is able to see what specific area in his company needs improvement.
On the other hand, an <em>executive summary</em> is a short description of our business goals, key financial indicators, strategies and forecast. It possesses summarized key information, similar to a pitch.
Answer:
The journal entry to record the sale transaction would be to "debit cash $295.50; debit credit card expense $4.50 and credit sales $300"
Explanation:
The credit card expense of $4.5 ( i.e, Sales of Merchandise <em>$300</em> multiplied by Bank service charge deduction <em>1.5%</em>) is a loss.
Therefore, It should be debited.
Answer:
(Q, R) = (1555, 1400)
shortage imputed = $0.388
Explanation:
Lot size-reorder point system is one of the multi period models. This system is denoted by decision variables (Q, R). This multi period model is implemented when there is uncertain demand in inventory control.
nevertheless, in the simple EOQ model, demand is known and fixed. But when the demand is random, these lot size-reorder point (Q, R) systems allow random demand.
There are two decision variables in a (Q, R) system:
Order quantity, Q and
Reorder point, R
Additional steps are attached as files
