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
Leni [432]
3 years ago
14

Deep Water Mining added $411 to retained earnings last year on sales of $24,646. The administrative expenses were $4,370, deprec

iation was $812, dividends paid were $285, and the interest expense was $103. What was the cost of goods sold if the firm’s tax rate was 35 percent? $20,225 $24,385 $18,290 $14,815 $21,393
Business
1 answer:
ki77a [65]3 years ago
5 0

Answer:

$18,290

Explanation:

The computation of the cost of goods sold is given below;

The profit after tax is

= Retained earnings + dividend

= $411 + $285

= $696

The profit before tax = $696 ÷ (1 - Tax rate)

= $696 ÷ (1 - 0.35)

= $1,071  

Now  

Sales = $24,646

Let us assume the Cost of goods sold be X

admin expenses = $4,370

Depreciation = $812

Interest = $103

Profit before tax = $1.071

Cost of goods sold (X) = $24,646  - $4,370 - $812 - $103 - $1,071

= $18,290

You might be interested in
Which of the following is a problem that arises in a health insurance market?
alexira [117]

Answer: The correct answer is "A disproportionate number of high-risk individuals are attracted to buy insurance.".

Explanation: A disproportionate number of high-risk individuals are attracted to buy insurance is a problem that arises in a health insurance market. Due to the greater risk, many insurers choose not to allow these individuals to hire these policies, and those that do offer these products do so with a higher premium than others.

7 0
3 years ago
A company makes a $5 profit on each non-faulty product it sells. Approximately 2% of the products manufactured are faulty, with
Harlamova29_29 [7]

Based  on the information given the profit per item is $2.90.

First step is to calculate the company profit

Profit=(100%-2%)×$5

Profit=98%×$5

Profit=$4.9

Second step is to calculate the profit per item

Profit per item=$4.9-($100×2%)

Profit per item=$4.9-$2

Profit per item=$2.90

Inconclusion  the profit per item is $2.90.

Learn more here:brainly.com/question/1656767

5 0
3 years ago
Function keys provide shortcuts for specific tasks <br><br><br> a. True <br><br><br> b. False
gizmo_the_mogwai [7]
Answer - True
because the function key does provide shortcuts for specific tasks
3 0
4 years ago
Riverview Company is evaluating the proposed acquisition of a new production machine. The machine's base price is $200,000, and
Hitman42 [59]

The NPV of the venture is -$sixteen,752.55.

In accounting, the working capital overall is typically derived from the figures for present-day belongings and present-day liabilities recorded on the stability sheet. as an instance, a corporation with $2 hundred,000 in cutting-edge property and $100,000 in modern liabilities has operating capital of $100,000.

The working capital calculation is working Capital = present-day assets - modern Liabilities. as an example, if an agency's stability sheet has 300,000 total modern assets and 200,000 total modern liabilities, the corporation's working capital is one hundred,000 (property - liabilities).

Working capital is just what it says – it's for the cash you have to paint with to meet your short-time period needs. it is vital because it's miles a degree of an organization's capacity to repay quick-term costs or money owed.

Learn more about Working capital here: brainly.com/question/26214959

#SPJ4

3 0
2 years ago
If a manager rates an employee higher than he or she deserves in order to look good as a manager in the eyes of his or her own s
Reika [66]

Answer:

b.

Explanation:

Based on the information provided within the question it can be said that this scenario best illustrates the concept known as organizational politics. This refers to self-serving behaviors that individuals within a company use in order to increase the likely-hood of obtaining positive results in an organization. Which is what would happen if a manager rates an employee higher, they would end up looking like a good manager that is doing their job correctly because the employees are performing efficiently.

4 0
3 years ago
Other questions:
  • Muir Manufacturing produces two popular grades of commercial carpeting among its many other products. In the coming production p
    14·1 answer
  • On January 5, 2020, Sheffield Corporation received a charter granting the right to issue 5,100 shares of $100 par value, 7% cumu
    14·1 answer
  • Yield management systems are used to: Group of answer choices determine whether it is financially more feasible to buy a new pro
    8·1 answer
  • On May 28, 2021, Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for $620 million. The fair valu
    5·1 answer
  • Padraig receives total employment compensation of $70,000 and had $2,000 in job expenses. Which of the following could be true a
    14·2 answers
  • In planning Hong Kong Disneyland, Disney took special care to assure that the theme park would be culturally acceptable by: Grou
    7·1 answer
  • If a demand for a product is inelastic, the value of the price elasticity of demand is: Group of answer choices zero. equal to o
    5·1 answer
  • Zugar Company is domiciled in a country whose currency is the dinar. Zugar begins 2017 with three assets: cash of 20,000 dinars,
    5·1 answer
  • Question 6
    14·1 answer
  • Jasper has been working a lot of overtime during the most current economic expansion. As a result, his income is high enough for
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!