The amount of net sales for 2021 is $1,035,000.
Average inventory = (Beginning inventory + Ending inventory) / 2
Average inventory = ($63,000 + $75,000) /2
Average inventory = $69,000
- The formula for Inventory turnover ratio is <em>{Cost of goods sold/Average inventory]</em>
6 = Cost of goods sold / $69,000
Cost of goods sold = $414,000
Given Gross profit ratio is 40%: Gross profit = 40% on sales
Let the sales be $K
Gross profit = Sales - Cost of goods sold
0.4K = K - $414,000
0.4K = $414,000
K = $414,000 / 0.4
K = $1,035,000
Therefore, the amount of net sales for 2021 is $1,035,000.
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Answer:
<em>The answer is product, sales, similar products.</em>
Explanation:
Hope This Helps.
No, because the decision has already been made by the Board of Directors.
More about directors and decision making:
The board's decision-making process is divided into two stages: communication and decision-making. Each director decides whether to incur a cost to communicate his information to others during the communication stage. At the decision-making stage, all directors take actions (e.g., vote) based on their private information and information inferred from the discussion, and the board makes a collective decision. Directors may have conflicts of interest and thus prefer a decision that is not in the best interests of the shareholders. Directors may also have a preference for conformity and thus incur a loss if their actions differ from those of other directors, such as voting differently than the majority.
Learn more about decision making here:
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Calculation
Period Cash Interest Bond Interest Discount Carrying
End paid Expense Amortization Value
01-Jan-21 $375,505,452
30-Jun-21 $25,200,000 $26,285,38 $1,085,382 $376,590,834
1-Dec-21 $25,200,000 $26,361,358 $1,161,358 $377,752,192
Total $50,400,000 $52,646,740
Answer:
a) he equilibrum quantity is 95 million pounds of butter and the equilbrum price is $1.20 per pound. At this level, both demand and supply is 95 million.
b) 0 or no surplus.
Explanation:
The question is in three parts
a) a. In the butter market, the monthly equilibrium quantity is million pounds and the equilibrium price is $ per pound
The equilibrum price and quantity refers to that point in sales where the quantity demanded = the quantity supplied.
Looking at the schedule, the equilibrum quantity is 95 million pounds of butter and the equilbrum price is $1.20 per pound. At this level, both demand and supply is 95 million.
b) What is the monthly surplus created in the wholesale butter market due to the price support (price floor) program?
First, what is the price floor fixed by the government = $1.00 per pound and at this rate, the demanded quantity is 101 million and the quantity supplied is 79 million pounds.
Hence, the monthly surplus = 79 million pounds - 101 million pounds = -22 million pounds
At this price, there is no surplus
