$122,000 is Shulster's net income
To find the net income, subtract expenses and taxes from the gross income.
380,000 - 210,000 - 48,000 = 122,000
Answer:
Contribution margin equals fixed cost.
Explanation:
The break even point is the point at which the firm is earning no profit or no loss suffered
i.e
Total cost = Total revenues
Plus,
The contribution margin = Sales - variable expenses
So,
The contribution margin = Fixed cost = break even point
So if we deduct the contribution margin from the fixed cost so the amount should be zero that implies the break even point
Answer:
c. Ending inventory will be lower if Blake uses weighted average than if FIFO were used
Explanation:
To check which answer is correct, we simply evaluate each option step by step.
<u>Option A</u>
Gross margin is the difference between selling price and cost.
Under FIFO gross margin is $14. (32 -18 =14)
Under LIFO gross margin is $13. (32-19 = 13)
Thus statement is incorrect as gross margin is higher if FIFO is used.
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<u>Option B</u>
If FIFO is used, the dollar amount of ending inventory will be $19 as ending inventory will contain product purchased later that is at $19. In contrast, if LIFO is used, the dollar amount of ending inventory will be $18. Thus the statement becomes incorrect that it will be the same.
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<u>Option C</u>
The ending inventory under FIFO is $19.
The ending inventory under LIFO is $18
The endng inventory under AVCO or weighted average will be, 18+19 / 2 = 18.5
Thus the statement is correct as the ending inventory under weighted average $18.5 is lower than ending inventory under FIFO $19. So, C is the correct Answer.
Answer:
The answer is: False
Explanation:
The labour force consists of people who are employed and those who are unemployed. The unemployed consist of three groups: unemployed but actively searching for a job, unemployed and not actively look for a job, those who are able to work but have given up the search for employment. The official rate of unemployment measures the number of unemployed people in a country's labour force. In this case, people who have given up looking for jobs and are not reporting themselves as unemployed but rather as out of the labour force, make the unemployment rate lower. If they were counted as part of the unemployed, then the unemployment rate would be higher.
If British textiles become more fashionable in the United states, the U.S. demand for pounds curve would shift outwards.
As a result of British textiles becoming more fashionable in the United states, there would be an increase in the demand for British textiles. This would lead to an increase in the demand for pounds. As a result, the demand curve for pounds would shift outwards.
Please check the attached image for a graph showing the outward shift of the demand curve. To learn more, please check: brainly.com/question/14456267