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horsena [70]
2 years ago
14

In 2009, an agricultural company introduced a new cropping process which reduced the cost of growing some of its crops. If sales

in 2008 and 2009 were steady at $30 million, but the gross margin increased from 2.9% to 3.2% between those years, by what amount ($) was the cost of sales reduced
Business
1 answer:
Natali5045456 [20]2 years ago
8 0

Answer: $90,000

Explanation:

If sales in 2008 and 2009 were steady at $30 million, but the gross margin increased from 2.9% to 3.2% between those years, the amount by which the cost of sales would be reduced would be:

= $30 million × (3.2% - 2.9%)

= $30 nillioy× 0.3%

= $30 million × 0.003

= $90,000

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ololo11 [35]

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Explanation:sorry dont report .y answer

7 0
2 years ago
You are helping a customer who wants to purchase pavers and they have selected
IrinaVladis [17]

Answer:

D. Ask the customer if they need any other products for the project.​

Explanation:

Customers who buy pavers are usually involved in a medium or large house project, and probably need other products. For this reason, a sales representative should ask the customer if they need anything else for the project in order to increase sales for the company.

7 0
3 years ago
During 2015, Bears Inc. recorded credit sales of $680,000. Before adjustments at year-end, Bears has accounts receivable of $300
Rufina [12.5K]

Answer:

Bad Debts Expense                      Debit                  $ 34,440

Allowance for Uncollectible accounts   Credit                          $ 34,440

Explanation:

Computation of amount of uncollectible balances to be recorded

Total accounts Receivable                                    $ 300,000

Accounts past due                                                  <u>$   51,000</u>

Accounts not yet past due                                     $ 249,000

Estimated uncollectible from not yet past due         10 %

Estimated uncollectible from past due                       24 %

Estimated uncollectible from not yet past due 10 % * $ 249,000  = $ 24,900

Estimated uncollectible from past due 24 % * $ 51,000            =     <u>$   12,240</u>

Total Estimated Uncollectible amounts                                            = $ 37,140  

Available balance in Allowance account                                           $   (2,700)

Allowance for uncollectible accounts to be recorded                       <u>$ 34,440</u>

8 0
3 years ago
Prepare a multiple-step income statement for Armstrong Co. from the following data for the year ended December 31. Sales, $755,0
OLEGan [10]

Answer:

See explanation

Explanation:

                       Armstrong Co.

          Multi-step Income Statement

  For the year ended, December 31, 20YY

Sales                                              $755,000

<u>Less: Cost of merchandise sold   (330,000)</u>

Gross Profit                                                    $425,000

Less: Operating expenses

Administrative expenses  $35,000

Selling expenses               $50,000

<em><u>Total operating expenses                               $85,000</u></em>

Income from operation                                 $340,000

Other revenue and expenses:

Rent Revenue                    $25,000

interest expense               ($30,000)

<u>Total other revenues (expenses)                      $(5,000)</u>

Income before taxes                                      $335,000

<u>Less: Income Tax                                                     0</u>

Net Income (loss)                                           $335,000

That is the appropriate way to prepare a multi-step income statement

3 0
3 years ago
In year 1 the price level is constant and the nominal rate of interest is 6 percent. But in year 2 the inflation rate is 3 perce
LiRa [457]

The nominal interest rate will rise by 3%.

Nominal interest rate is the sum of real interest rate and inflation rate. Real interest rate is interest rate that has been adjusted for inflation. Inflation is the persistent rise in general price levels.

Nominal interest rate in year 2 = real interest rate + inflation rate

6% + 3% = 9%

Nominal interest rate in year 1 = 6%

Change in nominal interest rate = 9% - 6% = 3%

To learn more, please check: brainly.com/question/21323568

6 0
2 years ago
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