Answer:
The The number of sweatshirts the company would need to sell to earn a target profit of $1,710 is closest to <u>570</u> sweatshirts.
Explanation:
This can be calculated as follows:
Selling price per unit = $15
Total cost price per unit = Average unit cost + Sales commission per unit = $7 + $5 = $12
Profit per unit = Selling price per unit - Total cost price per unit = $15 - $12 = $3
Target profit = $1,710
Number of sweatshirts to sell to earn a target profit = Target profit / Profit per unit = $1,710 / 3 = 570
The governor of South Dakota reports a budget surplus in 2011 and he states that the government received more taxes in the year than it spent in that year
Explanation:
Budget is the amount that the government plans and spends for the future needs and always the government introduces the budgets in the beginning of the year
Taxes must be paid regularly by the citizens and it is the due responsibility and the report of the taxes paid will be given to the governor an the report will be read and in one such report the governor of Dakota reported that there was a budget surplus the government received more taxes than it spent
The investment type that typically carries the least risk is saving account
Answer:
2014 = zero
2015 = $6,450
Explanation:
2014
Under the completed-contract method of accounting, revenue, expenses, and gross profit is deferred until the completion of the contract. If at the end of the business fiscal year of a company work on a contract remains incomplete, no revenue, expenses, and profit on that contract is recognized in the current year on the income statement; all costs and billings are accumulated in respective balance sheet accounts.
2015
This year, the construction is completed so Horner Construction Co. will now recognize its Revenue and gross profit in relation to the project.
Contract price $16,500,000
Less: constructions costs <u>10,050,000</u>
Gross profit $6,450,000
* construction cost = ($5,850,000 + $4,200,000)
