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Sloan [31]
3 years ago
14

Slapshot Company makes ice hockey sticks and sold 1,890 sticks during the month of June at a total cost of $378,000. Each stick

sold at a price of $360. Slapshot also incurred two types of selling costs: commissions equal to 10% of the sales price and other selling expense of $64,700. Administrative expense totaled $53,800.
Required:
Prepare an income statement for Slapshot for the month of June
Business
1 answer:
Grace [21]3 years ago
6 0

Answer:

<u>Slapshot Company</u>

<u>Income statement for the month of June</u>

Sales ( 1,890 x $360)                                   $680,400

Less Costs of Sales                                    ($378,000)

Gross Profit                                                  $302,400

Selling Costs :

Commissions                           $68,040

Other Selling Expense            $64,700

Administrative Expense          $53,800    ($186,540)

Net Income                                                   $115,860

Explanation:

The Income statement shows the <em>Profit</em> earned during the reporting period. This is determined as Gross Profit (Sales - Cost of Sales) minus the Operating Expenses.

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Yekutia has the resources to manufacture 320 motorcycles or 570 lawn-mowers per year. The country of Bezanitia, has the capabili
kodGreya [7K]

Answer:

Bezanitia,

1.782609

Explanation:

Opportunity cost is the cost of the next best option forgone hen one alternative is chosen over another alternative.

By choosing to produce one  more motorcycle, the countries would be giving up the opportunity to produce one more unit of lawn mowers

Yekutia's opportunity cost in the production of motor cycle = 570 / 320 = 1.781250

Bezanitia's opportunity cost in the production of motor cycle = 410 / 230 = 1.782609

8 0
3 years ago
Choose the word that best completes this sentence. ________ exist in the ground, air, and bodies of most living things but do no
exis [7]
It seems that you have missed the necessary options for us to answer this question, but anyway here is the answer. BACTERIA <span>exist in the ground, air, and bodies of most living things but do not need a host organism to live and multiply. Hope this answers your question.</span>
4 0
2 years ago
A good reason for cutting meats and poultry into thin slices for sandwiches is that
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<span>A good reason for cutting meats and poultry into thin slices for sandwiches is that thin cuts are more delicate, a sandwich produced using dainty cuts is less demanding to eat and many thin cuts make a thicker sandwich than maybe a couple thick cuts of a similar aggregate weight.</span>
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2 years ago
Malone Imports stock should return 12 percent in a boom, 10 percent in a normal economy, and 2 percent in a recession. The proba
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Answer:

6.11%

Explanation:

For computing the variance, first we have to determine the expected return which is shown below:

= (Expected return of the boom × weightage of boom) + (expected return of the normal economy × weightage of normal economy)  + (expected return of the recession × weightage of recession)

= (12% × 5%) + (10% × 85%)  + (2% × 10%)  

= 0.6% + 8.5% + 0.2%

= 9.30%

Now the variance would equal to the

= Weightage × (Return - Expected Return) ^2

For boom:

= 5% × (12% - 9.3%) ^2

= 0.3645

For normal economy:

= 85% × (10% - 9.3%) ^2

= 0.4165

For recession:

= 10% × (2% - 9.3%) ^2

= 5.329

So, the total variance would be

= 0.3645 + 0.4165 + 5.329

= 6.11%

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2 years ago
A receipt showing that an investor has made an interest-bearing loan to a bank is a.
Zigmanuir [339]

Certificates of Deposit are documentation indicating an investor has given a bank an interest-bearing loan. The money market instrument known as a "certificate of deposit" is one that banks and other similar financial organisations issue to raise capital on the secondary market.

A certificate of deposit is documentation indicating an investor has lent money to a bank, the government, a corporation, or another bond issuer at interest. A certificate of deposit is documentation indicating an investor has lent money to a bank, the government, a corporation, or another bond issuer at interest.

A savings account known as a certificate of deposit (CD) holds a fixed sum of money for a predetermined length of time, such as six months, a year, or five years. One of the most crucial factors is the certificate of deposit's maturity period.

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4 0
11 months ago
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