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slamgirl [31]
2 years ago
6

Fill in the missing amounts.

Business
1 answer:
Marrrta [24]2 years ago
7 0

Answer:

Find my analysis below

Explanation:

The gross profit rate is the portion of net sales earned as gross profit prior to considering operating expenses as indicated by the formula below:

gross profit rate=gross profit/net sales

The profit margin measures the net income as a percentage of net sales

profit margin=net income/net sales

                                Crane company Sheridan company

Sales revenue                 $94,200  $103,000  

sales returns and allowance  $14,000  $3,000  

Net sales                           $80,200  $100,000  

cost of goods sold                  $54,200  $50,000  

Gross profit                               $26,000  $50,000  

Operating expenses            $14,700  $34,400  

Net income                            $11,300  $15,600  

 

Gross profit rate=gross profit /net sales 32.4% 50.0%

Profit margin=net income/net sales         14.1% 15.6%

Crane company Sheridan company

Sales revenue                 94200 =F5+F4

sales returns and allowance  =E3-E5 3000

Net sales                       80200 100000

cost of goods sold              54200 =F5-F7

Gross profit                       =E5-E6 50000

Operating expenses        14700 =F7-F9

Net income                            =E7-E8 15600

 

Gross profit rate=gross profit /net sales =E7/E5 =F7/F5

Profit margin=net income/net sales =E9/E5 =F9/F5

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Market

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6 0
3 years ago
During January, the solar cell factory begins 57,000 solar cells, and completes 53,000 of them. The remaining 4,000 solar cells
pogonyaev

Answer:

"2000 units" is the right solution.

Explanation:

The given values are:

Transferred from WIP,

= 53,000 units

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= 61,000 units

Beginning inventory,

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Now,

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= ( Beginning \Inventory + Transferred \ from \ WIP - Units \ Sold )

On substituting the values, we get

= ( 10000 + 53000 - 61000 )

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4 0
3 years ago
Which of the following is NOT considered to be one of the three primary functions that all organizations​ perform? A. research a
ra1l [238]

Answer: The correct answer is "A. research and development".

Research and development are <u>NOT</u> considered as one of the three primary functions that all organizations​ perform.

Explanation: The basic operating cycle of a company is buy-sell-collect-pay. In some cases, companies can produce the good they sell or directly re-sell it. This implies production, operation and marketing activities to increase sales and for an adequate control of these you need accounting.

Only in particular cases do companies engage in research and development, but it is not something basic.

4 0
3 years ago
If supply is price-inelastic and demand is price-elastic, then the firm can earn positive profits by increasing the price.
strojnjashka [21]
I think it might be true in my opinion
8 0
3 years ago
On December 31, 2018, the balance in Megan's Products Accounts Receivable was $680,000 and net credit sales amounted to $3,800,0
RoseWind [281]

Answer:

Bad Debt Expense ($40,000 - $3,200)  $36,800

           To Allowance for Doubtful Accounts   $36,800

(Being the bad debt expense is recorded)

Explanation:

The adjusting entry is shown below:

Bad Debt Expense ($40,000 - $3,200)  $36,800

           To Allowance for Doubtful Accounts   $36,800

(Being the bad debt expense is recorded)

For recording this we debited the bad debt expense as it increased the expenses and credited the allowance for doubtful debts as it decreased the value of the assets

And since there is a credit balance so the same is deducted from the account receivable

5 0
3 years ago
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