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evablogger [386]
2 years ago
7

During its first year of operations, Silverman Company paid $11,625 for direct materials and $11,000 for production workers' wag

es. Lease payments and utilities on the production facilities amounted to $10,000 while general, selling, and administrative expenses totaled $3,500. The company produced 7,250 units and sold 4,500 units at a price of $7.00 a unit. What was Silverman's net income for the first year in operation
Business
1 answer:
ella [17]2 years ago
3 0

Answer:

$7,750

Explanation:

The computation of the net income for the first year is shown below:

but before that following calculations needed

The Cost of production is

= Direct material + Direct labor + Manufacturing overhead

= $11,625 + $11,000 + $10,000

= $32,625

The Unit product cost is

= $32,625 ÷  7,250 units

= $4.50 per unit

Now  

Cost of goods sold = Number of units sold × cost per unit

= 4,500 units × $4.50

= $20,250

And, finally

Net Income = Sales revenue - COGS - general, selling, and administrative expenses

= (4,500 units × $7) - $20,250 - $3,500

= $7,750

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So, the correct option is A (Earned income)

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5 0
1 year ago
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STALIN [3.7K]

Answer:

please Elaborate like how much money do you have or something

3 0
2 years ago
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Temka [501]

Answer:

American Marketing Association

Explanation:

American Marketing Association -

It refers to the association of many marketing professionals all together , is referred to as the American Marketing Association  .

In the year 2012 , there were 30,000 members , present in the United states .

Which consists of 250 collegiate chapters and 76 professional chapters .

Hence from the given scenario of the question ,

The correct option is American Marketing Association .

3 0
3 years ago
From 1965 to 2013, women went from 9 percent to _____ percent of u.s. medical students. 52 30 47 12
LUCKY_DIMON [66]
The answer to this question would be: 47%

In 1965, there are just 9% of women that taking medical program but in 2013 the amount is nearly same as the man. The increase is more intense before 1990 which was 40%. It would be 31% increase from 1965. The percentage of the total applicant and the accepted applicant is nearly same, so the increase is mostly done because there are more women applicant in later years.
8 0
3 years ago
5. Categorize each of the following funding schemes as examples of the benefits principle or the ability-to-pay principle. a. Vi
Simora [160]

Answer:

b, c and a

Explanation:

Ability to pay principle refers to an economic principle that states that the amount of tax an individual pays should be <u>dependent on the level of burden the tax will create relative to the wealth</u> of the individual.

Based on the above definition, the first category will be:

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3. Visitors to many national parks pay an entrance fee. <em>Park entrance fees will be of the lightest burden of the three cases in the scenario.</em>

<em />

7 0
3 years ago
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