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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

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Answer:

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6 0
2 years ago
Chamonix Chateau Rentals. You are planning a ski vacation to Mt. Blanc in Chamonix, France, one year from now. You are negotiati
nata0808 [166]

Answer:

The budgeted $ amount is  $13,680.88  

Explanation:

The purchasing power parity formula gives us an idea what an exchange spot rate would be in future period using the below formula:

Future spot rate=current spot rate*(1+US inflation)/(1+French inflation)

current spot rate=$1.3620

US inflation rate is 2.50%

French inflation is 3.50%

Future spot rate=$1.3620*(1+2.5%)/(1+3.5%)

future spot rate=$1.3488

The weekly cost of vacation would also be adjusted for inflation rate in France as follows:

Adjusted price=9800*(1+3.5%)=10143

Hence the cost of the one week rental would be 10143  multiplied by the future spot exchange rate of 1.3488 i.e $ 13,680.88   (10143*1.3488)

7 0
2 years ago
In 2019, Bonita Industries sold 3000 units at $1000 each. Variable expenses were $700 per unit, and fixed expenses were $780000.
solniwko [45]

Answer:

Bonita’s break-even point in units for 2020 is 812.50 units.

Explanation:

Break-even point in units refers to the number of units of commodity that must sold by a company in order for its cost to be equal to revenue and therefore make no profit but also no loss. This can be determined for Bonita Industries as follows:

Selling price in 2020 = Selling price in 2019 * (100% - Percentage cut in selling price) = $1,000 * (100% - 40%) = $1,000 * 96% = $960

Variable expenses = $700

Fixed expenses = $780,000

Contribution per unit = Selling price in 2020 - Variable expenses = $960 - $700 = $260

Bonita’s break-even point in units for 2020 = Fixed expenses / Contribution per unit = $780,000 / $960 = 812.50 units

Therefore, Bonita’s break-even point in units for 2020 is 812.50 units.

8 0
3 years ago
Investment X offers to pay you $6,900 per year for 9 years, whereas Investment Y offers to pay you $9,300 per year for 5 years.
Oliga [24]

Answer:

$44,955.10

$38,131.84

Explanation:

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Investment X

Cash flow each year from year 1 to 9 = $6900

I = 7%

PV = $44,955.10

Investment Y

Cash flow each year from year 1 to 5 = $9300

I = 7%

PV = $38,131.84

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

7 0
3 years ago
A tragic flaw in a character is cause by
suter [353]
Tragic flaw is a literary device that can be defined as a trait in a character leading to his downfall, and the character is often the hero of the literary piece. This trait could be the lack of self-knowledge, lack of judgment, and often it is hubris (pride).
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3 years ago
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