Answer:
Closing Stock = <u>38000 </u>
Explanation:
Net Sales = COGS + Gross Profit
- <u>Net sales</u> = sales - sales return = 185000 - 6000 = 179000
- <u>Gross Profit</u> = 60% of sales (as per gross profit ratio)
= 60% of 179000 = 107400
- <u>COGS </u>= Opening Stock + Net Purchase + direct expenses - Closing Stock
* <u>Net purchase</u> = Purchase - purchase return = 111000 - 4500 = 106500
*<u>Direct Expense</u> = Freight Inwards = 3100
Putting all values in formula :- Net Sales = COGS + Gross Profit
179000 = (0 + 106500 + 3100 - closing stock) + 107400
179000 = 106500 + 3100 + 107400 - closing stock
179000 = 217000 - closing stock
closing stock = 217000 - 179000
closing stock = 38000
Answer:
The answer is: Marc´s effective tax rate is 18.29% equivalent to $18,289.50
Explanation:
Marc is a single filer, so his taxable income of $100,000 falls under the fourth tax bracket ($82,501 to $157,500) with a tax rate of 24%. To calculate Marc´s effective tax rate:
Taxes due = $14,089.50 + [24% x ($100,000 - $82,500)]
= $14,089.50 + (24% x $17,500)
= $14,089.50 + $4,200
= $18,289.50
So Marc´s effective tax rate (ETR) = ($18,289.50 / $100,000) x 100 = 18.29%
Note: The $10,000 Marc earned in interest from municipal bonds (City of Birmingham bonds) are tax exempt, so they are not included in these calculations.
Answer:
Option C
Explanation:
Frazer should immediately start making the base for the deal with the customer, therefrom, he should determine which price tom quote as the price plays the most important role in every deal. All other factors such as presence of time and selection of products are usually pre- determined by an effective sales man during the preview of the customer in the initial research.
<span>A product used in this way is known as a Benchmark Item.
Benchmark item refers to the type of product that is used as a standard when we want to compare it another similar product.
By seeing the price of Burger in this particular situation, Jason could predict the price of other product that being sold in that place.</span>
