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maxonik [38]
2 years ago
15

Your campus computer store reported Sales Revenue of $175,000. The company's gross profit percentage was 65 percent. What amount

of Cost of Goods Sold did the company report?
Business
1 answer:
vaieri [72.5K]2 years ago
6 0

Answer:

The company reported $61,250 amount of Cost of Goods Sold

Explanation:

As gross profit percentage is the net percentage of sales revenue and cost of goods sold. We can find the cost of goods sold percentage as follow

Gross profit = Sales - Cost of Goods Sold

Placing the percentage

65% = 100 % - Cost of Goods sold

Cost of Goods sold = 100% - 65%

Cost of Goods sold = 35%

Now calculate the value of cost of goods sold using following formula

Cost of goods sold percentage = Cost of good sold / Sales Revenue

35% = Cost of Goods sold / $175,000

Cost of Goods sold = $175,000 x 35%

Cost of Goods sold = $61,250

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Greer Company developed the following data for the current year:
bixtya [17]

Answer:

option (C) is correct.

Explanation:

Given that,

Beginning work in process inventory: $102,000

Direct materials used: 156,000

Actual overhead: 132,000

Overhead applied: 138,000

Cost of goods manufactured: 675,000

Total manufacturing costs: 642,000

Company's direct labor cost for the year:

= Total manufacturing costs - Overhead cost - Direct materials cost

= Total manufacturing costs - Overhead applied - Direct materials used

= $642,000 - $138,000 - $156,000

= $348,000

5 0
2 years ago
You have just applied for a 30year 100000 mortgage at a rate of 10%.what must be annual payment be?​
Fittoniya [83]

Answer:

The correct answer is "$10,607.92".

Explanation:

Given:

Amount borrowed,

P = 100000

Interest rate,

r = 10%

or,

 = 0.1

Time,

= 30 years

Now,

The annual payment will be:

⇒ A=P\times \frac{r(1+r)^n}{(1+r)^n-1}

       =100000\times \frac{0.1(1+0.1)^{30}}{(1+0.1)^{30}-1}

       =10,607.92 ($)

7 0
2 years ago
Cane Company manufactures two products called Alpha and Beta that sell for $195 and $150, respectively. Each product uses only o
Savatey [412]

Answer and explanation:

a.

the table below shows the impact of dropping beta product

Loss of Contribution Margin if Beta is Dropped (75,000*64) -$4,800,000

Traceable Fixed Manufacturing Overhead (123,000*33)          $4,059,000

Incremental Contribution Margin from Additional Alpha Sales (15,000*72)

                                                                                                        $1,080,000

Increase in Net Operating Income if Beta is Dropped          $339,000

Notes:

Contribution Margin Per Unit (Beta) = 150 (Selling Price) - 15 (Direct Material) - 28 (Direct Labor) - 20 (Variable Manufacturing Overhead) - 23 (Variable Selling Expenses) = $64 per unit

Contribution Margin Per Unit (Alpha) = 195 (Selling Price) - 40 (Direct Material) - 34 (Direct Labor) - 22 (Variable Manufacturing Overhead) - 27 (Variable Selling Expenses) = $72 per unit

check the attached files for additional details

where 9=b, 10=c, etc

6 0
3 years ago
Barbara operates a sporting goods store. She uses the cash method and treats inventory as nonincidental supplies. At the beginni
hoa [83]

Answer:

$454,000

Explanation:

Ending inventory is the value of the inventory in the store at the end of the year.

Goods are purchased and added to the the beginning inventory, the sale for the period is deducted from it. the residual value is the value of ending Inventory.

In This question it is assumed that there is $26,000 of beginning inventory of the goods. $470,000 of the purchases were made and at the end of the year there was $42,000 balance of inventory.

We can calculate the deduction value as follow

Ending Inventory = Beginning Inventory + Purchases - deduction

$42000 = $26,000 + $470,000 - deduction

$42000 = $496,000 - deduction

Deduction = $496,000 - $42,000 = $454,000

5 0
3 years ago
Dave mentions that insurance is the defense for managing your money. Why is this true?.
777dan777 [17]

Insurance is a method of defense when it comes to managing your money according to Dave because it prevents you from incurring more debt.

<h3>How does insurance defend your money?</h3>

According to Dave Ramsey, a defense method in managing your money is one that helps you reduce or avoid debt.

Insurance is therefore a defense for managing your money because it saves you from having to incur debt when you pass through a dangerous situation because the insurance will pay out instead of you having to borrow.

Find out more on the purpose of insurance at brainly.com/question/1941778.

#SPJ1

8 0
2 years ago
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