All categories

2 years ago

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

You might be interested in

professionals who take onwership of their mistakes are said to have: A: a work ethic B: integrity C:dishonesty D:ingenuity

Gwar [14]

The correct answer is B. integrity

7 0

1 year ago

Conducting a(n) __________ of the disaster recovery documentation for accuracy should be a standard practice for the organizatio

erica [24]

Answer:

Revision/Review

Explanation:

DRP is a key procedure in every company so the documentation must be reviewed usually and updated accordignly.

4 0

3 years ago

When the price of a good is $5, the quantity demanded is 120 units per month; when the price is $7, the quantity demanded is 100

Gre4nikov [31]

Price elasticity can be calculated using the attached formula where:
the first term represents the % change in quantity and the second term represents the % change in price

% change in quantity = (100-120) / (220/2) = -2/11 x 100 = -18.1818%
% change in price = (7-5) / (12/2) = 33.3333%

price elasticity = 18.1818/33.3333 = 0.55

Note that the price elasticity is usually taken as an absolute value.

6 0

3 years ago

A grocery store manager must decide whether to buy four rug cleaners to rent to customers. The manager estimates that the first

aksik [14]

Answer:

It will purchase three.

Explanation:

the return will be:

income / investment

1ST rug cleaners: 200/500 = 40% return

2 rug cleaners: 150/500 = 30% return

3 rug cleaners: 75/500 = 15% return

4 rug cleaners: 20/500 = 4% return

As the current market rate is 12% if the forth rug cleaner is pruchased it will not turn out profitable.

7 0

3 years ago

Ariana and John, who file a joint return, have two dependent children, Kai and Angel. Kai is a freshman at State University and

mihalych1998 [28]

The amounts and types of education tax credits that Ariana and John can take without modified AGI limitation are as follows:

Amount of Education Tax Type of Education Tax Credits

For Kai $1,000 ($2,500 x 40%) The American Opportunity Credit

For Angel $1,560 ($7,800 x 20%) The Lifetime Learning Credit

Total tax credit = $2,560 ($1,000 + $1,560)

<h3>What are the American Opportunity Credit and the Lifetime Learning Credit?</h3>

Whereas the American Opportunity Credit (Kia's) covers only the first 4 years of post-secondary education at 40% of $2,500 per student because Kia is a half-time student, the Lifetime Learning Credit applies to graduate schooling (Angel's) and covers 20% of the first $10,000 paid for tuition.

We must note that no taxpayer can claim both the American Opportunity Credit and the Lifetime Learning Credit for the same student in the same tax year.

Thus, the total education tax credit that Ariana and John can claim for both Kai and Angel is $2,560.

Learn more about education tax credits at brainly.com/question/8166956

6 0

1 year ago