Answer:
Gross profit will be $4
Explanation:
We have given that merchant purchased a jacket for $60
So purchased price = $60
Let the markup price is x
Now according to question selling price = x+60
Now it is given that marked up price is 25 % of the selling price
So ![x=(x+60)\times \frac{25}{100}](https://tex.z-dn.net/?f=x%3D%28x%2B60%29%5Ctimes%20%5Cfrac%7B25%7D%7B100%7D)
X = 20
So selling price = 60+20 =80
Now there is discount of 20%
So price after discount = ![80-\frac{80\times 20}{100}=$64](https://tex.z-dn.net/?f=80-%5Cfrac%7B80%5Ctimes%2020%7D%7B100%7D%3D%2464)
So gross profit = $64 -$60 = 4
Answer:
$490,000.
Explanation:
To find out sales of Opal Company we will use below equation,
Sales = Variable cost + Fixed cost + Target profit
variable cost margin will be (1 - contribution margin)
= 0.7 (1 - 0.3)
we will consider sales as x,
x = 0.70x + $49,000 + 0.20x
x = 0.90x + $49,000
x - 0.90x = $49,000
x = $49,000 / 0.10
x = $490,000.
Sales = $490,000.
Answer:
All of these are characteristics of the long-run supply curve.
Explanation:
In the long run supply curve shape is dependent on wether the industry is a constant cost industry, a decreasing cost industry, or an increasing cost industry. It can be horizontal, upward sloping, or downward sloping.
In constant cost market price remains constant with increasing output. Supply curve is horizontal.
In decreasing cost industry supply curve is sloping downward and cost reduces with output.
In increasing cost industry supply curve is upward sloping and cost increases with increased output.
Answer:
$13,240
Explanation:
The computation of the sales in first quarter of the year is shown below:
= January sales units + January sales units × increased percentage + February sales units × increased percentage
= 400 units + 400 units × 1.1 + 440 units × 1.1 units
= 400 units + 440 units + 484 units
= 1,324 units
So, now the sales is
= 1,324 units × $10
= $13,240