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aliya0001 [1]
2 years ago
10

macarthy landscape supply's selected accounts follow Selling Expenses $12,900 Interest Revenue 900 Net Sales Revenue 134,700 Cos

t of Goods Sold 114,000 Administrative Expense 10,200 compute gross profit percentage
Business
1 answer:
Thepotemich [5.8K]2 years ago
7 0

Answer:

15.37%

Explanation:

Computation of the gross profit percentage

First step is to calculate the Gross profit using this formula

Gross profit = Net sales revenue - Cost of goods sold

Let plug in the formula

Gross profit= $134,700 - $114,000

Gross profit= $20,700

Now let determine the Gross profit percentage using this formula

Gross profit percentage = Gross profit / net sales revenue

Let plug in the formula

Gross profit percentage= $20700/ $134700

Gross profit percentage= 15.37%

Therefore Gross profit percentage is 15.37%

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Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: M N O Unit sal
Ivahew [28]

Answer:

The answer is 629,000.

Explanation:

  • For each unit of M sold, the price is 7 and the cost is 3, so the contribution margin is 4;
  • For each unit of N sold, the price is 4 and the cost is 2, so the contribution margin is 2;
  • For each unit of O sold, the price is 6 and the cost is 3, so the contribution margin is 3;
  • With the mix, 1 unit of sale contributes (contribution per mix) 3*M+1*N+2*O = 3*4+1*2+2*3 = 20

For covering the 340,000 of fixed costs, you have to sale 340,000/20 units. That's equal to 17,000 units.

Each unit of sales is equal to (price per mix) 7*M+4*N+6*O = 7*3+4*1+6*2 = 37. So, with 17,000 units, the total sales will be 17,000 * 37 = 629,000.

3 0
3 years ago
Suppose that demand for a product is Q = 1200 − 4P and supply is Q = −240 + 2P. Furthermore, suppose that the marginal external
eimsori [14]

Answer: 16 units more than social optimum.

DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96

Explanation:

Q=1200 - 4P and Q=-240 + 2P

In a free market quantity demand =quantity supplied

1200 -4P = -240 +2P

P =240

Sub P

Q* = 240

Socially optimal quantity is

Marginal social benefit (MSC)= marginal social cost(MSC), including external damage =MEC

MPC= marginal private cost =inverse of supply function

MPC = (1/2)*Q + 120

MEC=12

MSC =(MPC +MEC) = (1/2)Q +120 +12

MSC= MPB where MPB is marginal private benefit = inverse of demand functn

MPB = 300 -(1/4)Q

(1/2)Q + 132 =300 - (1/4)Q

Q° = 224

Difference btw Q* & Q° = 16 units more than social optimum.

DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96

4 0
3 years ago
A periodic review system is __________. a. a term used to indicate the amount of demand b. to be met under conditions of demand
vladimir2022 [97]

Answer:

The correct answer is letter "C": an inventory system that is used to manage independent demand inventory.

Explanation:

A Periodic Review System is used to keep track of the inventory of a firm after determined periods. Review intervals are set by the company in an attempt to find out the amount of stock needed to fulfill consumers' orders or to reach the company's Target Inventory (TI). This inventory system is used to handle independent demand inventory.

3 0
3 years ago
As a marketing manager for kitch-it-tools, jim is frustrated with the way his organization markets their kitchen utensils. curre
Leokris [45]

The Kitch it tools is presently practicing mass marketing. Mass marketing is a way of having to produce products or serve their market or business in a wide variety or large scale in which the kitch it tools has the aim of targeting largest possible number of people.

6 0
3 years ago
Use below information to prepare general journal entries for Belle Co.'s 1 through 7 transactions.
antoniya [11.8K]

Answer:

Belle Co.

General Journal Entries

1. Debit Cash $6,000

Debit Equipment $7,600

Debit Web Servers $12,000

Credit Common Stock $25,600

To record the assets exchanged for common stock by D. Belle.

2. Debit Prepaid Insurance $4,800

Credit Cash $4,800

To record the prepayment of insurance coverage.

3. Debit Supplies $900

Credit Accounts Payable $900

To record the purchase of supplies on account.

4. Debit Selling Expenses $800

Credit Cash $800

To record the payment of selling expenses for cash.

5. Debit Cash $4,500

Credit Service Revenue $4,500

To record the receipt of cash for services rendered.

6. Debit Accounts Payable $900

Credit Cash $900

To record the payment on account.

7. Debit Equipment $3,400

Credit Cash $3,400

To record the payment for the purchase of equipment.

Explanation:

a) Data and Transaction Analysis:

1. Cash $6,000 Equipment $7,600 Web Servers $12,000 Common Stock $25,600

2. Prepaid Insurance $4,800 Cash $4,800

3. Supplies $900 Accounts Payable $900

4. Selling Expenses $800 Cash $800

5. Cash $4,500 Service Revenue $4,500

6. Accounts Payable $900 Cash $900

7. Equipment $3,400 Cash $3,400

4 0
3 years ago
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