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Nikolay [14]
3 years ago
7

United Machining's margin was 2% and turnover was 3.0 on sales of $60 million for the year. On the basis on this information____

______.
a. net income for the year was $3,600,000, average assets were $10 million, and ROI was 6%.
b. net income for the year was $1,200,000, average assets were $20 million, and ROI was 6%.
c. net income for the year was $3,600,000, average assets were $20 million, and ROI was 2%.
d. net income for the year was $1,200,000, average assets were $10 million, and ROI was 2%.
Business
1 answer:
Hunter-Best [27]3 years ago
3 0

Answer:

B, net income for the year was $1,200,000, average assets were $20 million, ROI was 6%

Explanation:

net income is calculated by multiplying the percentage margin by the sales. We have,

(2 ÷ 100) × $60,000,000

= 0.02 × $60,000,000

= $1,200,000

To calculate the average assets, sales is divided by the turnover.

we have, ($60,000,000 ÷ 3.0)

= $20,000,000.

To calculate the ROI, margin and turnover are multiplied.

we have,

(2% × 3.0) = 6%

Cheers.

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<em>In order to give lower-level staff members access to the corporate network but bar them from seeing confidential human resources records, you would employ:</em><em>a system of authorization management.</em>

<h3>What is an authorization management system?</h3>

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<h3>What is the authorization procedure?</h3>

A server assesses if a client has permission to use a resource or access a file through the authorization procedure. Authentication and authorization are frequently combined so that the server can identify the client making the access request.

<h3>What is an example of authorization?</h3>

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3 0
2 years ago
n 2018, Warehouse 13 had net credit sales of $750,000. On January 1, 2018, Allowance for Doubtful Accounts had a credit balance
Finger [1]

Answer:

$28,000

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Given that Past experience indicates that the allowance should be 10% of the balance in receivables

Allowance = 10% * $150,000

= $15,000

Since during 2018, $29,000 of uncollectible accounts receivable were written off

Balance in allowance account before adjustment

= $29,000 - $16,000

= $13,000 (Debit)

Required adjustment for Doubtful Accounts at December 31, 2018

= $13,000 + $15,000

= $28,000

4 0
3 years ago
Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
ValentinkaMS [17]

Answer:

$10,900

Explanation:

The computation of net operating income (loss) for the month under variable costing is shown below:-

Sales = Selling price × Units sold

= $116 × 8,600

= $997,600

Variable cost = (Direct material + Direct labor + Variable manufacturing overhead + Variable selling and administrative expenses) × Units sold

= ($19 + $61 + $7 + $11) × 8,600

= $98 × 8,600

= $842,800

Contribution Margin = Sales - Variable cost

= $997,600 - $842,800

= $154,800

Fixed cost = Fixed manufacturing overhead + Fixed selling and administrative expense

= $135,000 + $8,900

= $143,900

Net operating income = Contribution Margin - Fixed cost

= $154,800 - $143,900

= $10,900

Therefore for computing the net operating income we simply applied the above formula.

4 0
3 years ago
Suppose the economy is closed with national saving of $3 trillion, consumption of $10 trillion, and government purchases of $4 t
yanalaym [24]

Answer:

The correct answer is: $17 trillion.

Explanation:

The Gross Domestic Product or GDP represents the overall market value of all the goods and services a country produces and it measures the size of the economy. The GDP is determined with the following formula:

GDP = C +  G + I + NX

where:

  • C: private consumption or consumer spending
  • G: government spending
  • I: businesses' capital spending
  • NX: net exports (exports - imports)

In the example:

GDP = $3 trillion + $10 trillion + $4 trillion = $17 trillion

4 0
4 years ago
What is the role of the entrepreneur in the modern economy?
iris [78.8K]

Answer:

B) TO CREATE JOBS

Explanation:

2. Create Jobs: Entrepreneurs are the organizers of the other factor of production(Land, Labour Capital) and are by nature and definition job creators, as opposed to job seekers. The simple translation is that when you become an entrepreneur, there is one less job seeker in the economy, and then you provide employment for multiple other job seekers. This kind of job creation by new and existing businesses is again is one of the basic goals of economic development. All this in turn creates a lot of job opportunities, and is helping in augmenting our standards to a global level.

4 0
3 years ago
Read 2 more answers
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