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3 years ago

Drag the tiles to the correct boxes to complete the pairs. Match the components of an income statement with their description.

Business

1 answer:

Korolek [52]3 years ago

5 0

Answer:

see below

Explanation:

1. COGS

Expenses incurred for manufacturing or obtaining the products and materials sold during a given period.

COGS are the direct expenses in the production process. They include labor, materials, and direct overheads.

2. Gross profit

Balance arrived at after deducting the expenses incurred on the goods sold from the revenue earned by selling the goods.

The revenues must exceed the expenses for a business to realize a gross profit. Otherwise, it will be a loss.

3. Operating expenses

Expenses that a business incurs to carry out its daily operations. They are the indirect cost of production. Examples include insurance, administrative, and security costs.

4. Selling expenses

Money spent on advertising, traveling, and promotions. These are the costs incurred in the selling process.

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Which of the following is an example of representative money?

Leto [7]

"Representative money is an item such as a token or piece of paper that has no intrinsic value but can be exchanged on demand for a commodity that does have intrinsic value, such as gold, silver, copper, and even tobacco" Google.

C) A check.

5 0

3 years ago

Read 2 more answers

Superior Construction Co. was contracted to plaster all the buildings of a historical preservation project for $2,500,000 over t

Cerrena [4.2K]

Answer:

Gross Profit in Year 1 = $200000

so correct option is B. $200,000

Explanation:

given data

historical preservation project = $2,500,000

time = 2 year

estimated costs = $2,000,000

Actual costs Years 1 = $800,000

Actual costs Years 2 = $900,000

to find out

what amount of gross profit would Superior report in Year 1

solution

we find here first Percentage Completion that is express as

Percentage Completion = Cost to date ÷ Estimated Total Cost .............1

put her value we get

Percentage Completion = $\frac{800000}{2000000}$

Percentage Completion = 40%

and

Revenue Recognized will be here

Revenue Recognized = Percentage Completion × Total estimated Revenue ...............2

Revenue Recognized = 40 % × 25000000

Revenue Recognized = 1000,0000

so here Gross Profit in Year 1 will be

Gross Profit in Year 1 = Revenue Recognized - Cost to date of year 1 ..............3

Gross Profit in Year 1 = 1000,0000 - v800000

Gross Profit in Year 1 = $200000

so correct option is B. $200,000

3 0

4 years ago

Suppose a self-regulating economy is in a recessionary gap at the time the Fed enacts expansionary monetary policy. Furthermore,

anzhelika [568]

The combination of expansionary monetary policy and a self-regulating economy will cause real GDP will rise to the level above natural real GDP and the recessionary gap would hence turn into an inflationary gap situation.

<h3>What do you mean by monetary policy?</h3>

Monetary Policy refers to the control of the quantity of money available in an economy through which new money is supplied.

The self-regulating economy experiences a recessionary gap. The real GDP is less than the level of natural real GDP. The gap is been corrected by the rightward shift in the short-run aggregate supply curve.

Due to interplay, real GDP will rise to the level above natural real GDP and the recessionary gap turn into an inflationary gap.

Learn more about Monetary policy here:

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8 0

2 years ago

Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managi

Anestetic [448]

Answer:

A Star.

Explanation:

The Boston Consulting Group (BCG) matrix depicts a product's market share against the market growth rate. The matrix is also known for it's cow- dog metaphor.

The matrix represents 4 situations namely:

1. Stars : Products with high market share in high growth markets i.e high- high situation.

2. Cash Cows: Products with high market share in low growth markets.

3. Question Mark: Products with low market share in a high growth markets.

4. Dogs: Products with low market share in low growth markets.

In the given case, the product dominates the market i.e high market share. Secondly, it operates in a high growth market. Which means, the product belongs to the situation of a Star.

8 0

3 years ago

Poskey Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following

MrRa [10]

Answer:

$\left[\begin{array}{cccccc}&Cost&Assembly&Setting Up&Other&Total\\wages&349,000&226,850&69,800&52,350&349,000\\Depreciation&290,000&101,500&58,000&130,500&290,000&Utilities&199,000&29,850&149,250&19,900&199,000&Total&838,000&358,200&277,050&202,750&838,000&\end{array}\right]$

Explanation:

We mulitply each line by the stated percent of each activity

for example

Setting Up % x Utilities= Utilities cost assigned to setting up

199,000x 75% = 149,250

Assembly % Depreciation= Depreciation cost assigned to assembly

35% x 290,000 = 101,500

This process must be done to assign each portion of cost.

6 0

3 years ago