Listed below are five procedures followed by Eikenberry Company.

Selling, general, and administrative expenses were $59,000; net sales were $268,100; interest expense was $6,300; research and d

ozzi

Answer:

$35,800

Explanation:

Gross Profit = Net sales - Cost of goods sold

= $268,100 - $145,500

= $122,600

Total Operating Expense:

= S, G & A Expenses + R&D expense

= $59,000 + $27,800

= $86,800

Operating Income = Gross Profit - Total Operating Expense

= $122,600 - $86,800

= $35,800

7 0

3 years ago

Take Test: Lab 3: Saving for Retirement Quiz Suppose Betty saves $200 each month in her 401(k) account. How much less will her m

g100num [7]

Answer:

$160

Explanation:

her net monthly take home pay will be reduced by $200 x (1 - combined tax rate = $200 x (1 - 20%) = $200 x 0.8 = $160

If instead of contributing to her 401k account, Betty took the money home, she would have to pay $40 in taxes (both state and federal), so the net amount that she receives is reduced by the taxes that she pays.

8 0

3 years ago

The following information is available for Baker Industries: Cost of goods manufactured $ 320,000 Beginning finished goods inven

schepotkina [342]

Answer:

Baker Industries

The Cost of goods sold for the period is:

= $330,000

Explanation:

a) Data and Calculations:

Cost of goods manufactured $ 320,000

Beginning finished goods inventory 45,000

Ending finished goods inventory 35,000

Cost of goods sold:

Beginning finished goods inventory $45,000

Cost of goods manufactured 320,000

Ending finished goods inventory (35,000)

Cost of goods sold = $330,000

4 0

3 years ago

Pathways Careers, Inc. has two productslong dashResume Reader and Cover Letter Cure. Financial data for both the products foll

Serga [27]

Answer:

Option (D) is correct.

Explanation:

Given that,

Willow had a sales mix of 60% Resume Reader and 40% Cover Letter Cure.

Each sales representative sold = 1,400 units

Contribution margin from the sale of Resume Reader:

= Sales revenue - Variable manufacturing costs - Sales commission

= (1,400 × $500 × 60%) - (1,400 × $300 × 60%) - (1,400 × $500 × 60% × 7%)

= $420,000 - $252,000 - $29,400

= $138,600

Contribution margin from the sale of Cover Letter Cure:

= Sales revenue - Variable manufacturing costs - Sales commission

= (1,400 × $1,000 × 40%) - (1,400 × $650 × 40%) - (1,400 × $1,000 × 40% × 5%)

= $560,000 - $364,000 - $28,000

= $168,000

Therefore, the total contribution to company profits is as follows:

= Contribution margin from the sale of Resume Reader + Contribution margin from the sale of Cover Letter Cure

= $138,600 + $168,000

= $306,600

4 0

3 years ago

Cyclical unemployment is caused by business cycle fluctuations. reducing international trade barriers, which causes some industr

Shalnov [3]

Answer:

The correct answer is letter "A": business cycle fluctuations.

Explanation:

Cyclical unemployment refers to unemployment related to downturns in the economy. It tends to be temporary but the length depends on the level of contraction of the economy during a recession. This type of unemployment is typical of the natural increase and decrease cycle of a nation's growth.

6 0

3 years ago