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
marta [7]
2 years ago
9

May 31, Novac Corp. Has net sales of $415,000 in cost of goods available for sale of $286,000 compute the estimated cost of the

ending inventory assuming the gross profit rate is 37%
Business
1 answer:
BabaBlast [244]2 years ago
5 0

Answer:

$24,550

Explanation:

Computation for the estimated cost of the ending inventory

Net Sales = $415,000

Gross Profit rate= 37%

Cost of goods Sold = 100%- 37% = 63%

Cost of Goods Sold =$415,000*63% = $261,450

Cost of Goods Available for sale = $286,000

Using this formula

Estimated Cost of Ending Inventory= Cost of goods available for sale - Cost of Goods Sold

Let plug in the formula

Estimated Cost of Ending Inventory = $286,000-$261,450

Estimated Cost of Ending Inventory = $24,550

Therefore the estimated cost of the ending inventory is $24,550

You might be interested in
The following information relates to last year's operations at the Legumes Division of Gervani Corporation: Minimum required rat
Lubov Fominskaja [6]

Answer: $45000

Explanation:

Firstly, the operating asset will be calculated which will be:

Operating asset = Sales / Turnover

= 900,000/3

Operating assets = $300,000

Then, the net operating income will be: Return on investment × Operating assets

Net operating income = 300,000 × 15%

= 300,000*0.15

= $45,000

Therefore, Legume Division's net operating income last year is $45000

4 0
3 years ago
Vertical space can be utilized to gain more storage space?<br> True or False
alexandr402 [8]
<span>True. Vertical space can be used for more storage space, however in most storage units only fifty percent of the total storage is not utilized. Using vertical space will increase the storage space</span>
6 0
3 years ago
Read 2 more answers
A company has established that the relationship between the sales price for one of its products and the quantity sold per month
notka56 [123]

Answer:

Q = 450

P = 35

Explanation:

TR = P x Q = (75 - 0.1Q) x Q = -0.1Q2 + 75Q

Then, Cost = (30Q + 1,000)

Profit: Total revenue - C

-0.1q2 + 75Q - 30q - 1,000 = -0.1q2  + 45q - 1,000

as this is a quadratic function we identify a b c:

a= -0.1 b = 45 x = -1000

the profit maximum point is at the vertex:

-b/2a = -45/ 2(-0.1) = -45/-0.1 = 450

The profit maximize at Q = 450

P = 75 - 0.1x450 = 35

3 0
3 years ago
Alison owns a coffee shop in a small city in which there are many similar establishments. she advertises that her coffee is the
Maru [420]
Alison's business idea of coffee shop in a small city with coffee beans that are fair trade​ certified, shade​ grown, and organic is best described with the following degree of competition : Monopolistic competition. (B). The coffee shop will <span>sell products that are differentiated from the product of other coffee shops (because of the special coffee beans). Which means there won't be perfect substitutes. This makes the competition monopolistic. </span>
3 0
3 years ago
. LG plans to structure a transaction as a legal sale of property, even though the economic substance of the transaction is a le
arsen [322]

Answer: LG needs to be aware of the implications around leasing her property or to selling off out rightly.

whether A sale or lease happens between her and the company /individual who wants to buy over or make use of the property. So she cannot ignore the legal formalities and  report the transaction as a lease.

Explanation:

5 0
3 years ago
Other questions:
  • The Atlantic Division of Stark Productions Company reported the following results for 2019:
    11·1 answer
  • Omnimenium, an automobile company, incurred a debt of $20 million for the fiscal year of 2016. The company used that money with
    9·1 answer
  • The subject matter expert in an e-learning learning program is one who pays the project bills, coordinates activities of writers
    13·1 answer
  • The stockholders' equity section of the balance sheet for Pokagon Corporation appeared as follows before its recent stock divide
    13·1 answer
  • Bouchard Company's stock sells for $20 per share, its last dividend (D0) was $1.00, its growth rate is a constant 6 percent, and
    15·1 answer
  • Ersatz Beneficial Insurance wants to estimate the cost of damage to cars due to accidents. The standard deviation of the cost is
    12·1 answer
  • To attract customers into a store, Safeway advertises its milk at less than cost, hoping that customers will purchase other groc
    6·1 answer
  • Lindsay is in 11th grade and wants to be a physical trainer and work with athletes for her career. She wants to help them learn
    13·1 answer
  • On July 1, 2021, Ross-Livermore Industries issued nine-month notes in the amount of $400 million. Interest is payable at maturit
    7·1 answer
  • If the true mean is .9350 with a standard deviation of 0.0090, within what interval will 90 percent of the sample means fall? (r
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!