To achieve a target profit of $930,000, Softies' sales must be $1,520,000.
<h3>
What is target profit?</h3>
- Target profit is the amount of profit that a company's managers anticipate achieving by the conclusion of a specific accounting period.
- Typically, the target profit is established from the budgeting process and is compared to the actual result in the income statement.
- If they chose to earn a 20% margin on each sale, they will make a $50 profit on each chair sold.
- As a result, if the corporation wishes to make $50 per chair and sell the chair for $200, the chair must be manufactured for $150 or less.
To find the target profit of Softie, Inc.:
- Sales = ($240,400 + $930,000) ÷ 0.77
- = $1,520,000
Therefore, to achieve a target profit of $930,000, Softies' sales must be $1,520,000.
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Answer:
B. They should retest the current model, as there may have been an error in the testing methods the first time.
Explanation:
If in the studies carried out theoretically it is verified that the model works, that means that at the time of testing to confirm the veracity of the investigation there was an error and that is why it does not work in real cases. therefore a feedback should be made to identify where the faults are and correct.
Answer:
Fees-the additional costs a lender charged for processing a loan
Principal-The amount initially borrowed from a lender
Taxes-payments homeowners are required to make each year to the government
Down payment- the amount a borrower needs to have on hand to obtain a mortgage
Explanation:
Technical skills and software skills are most important for jobs in the IT (Information Technology) sector. Some of the most wanted technical skills and knowledge are: coding and programming (some programming languages are Java, C, C++, Visual Basic, PHP, Python,...), project management (being able to lead and organize project, to delegate tasks and measuring the success of the project), big data analysis (being good at collecting, organizing and working with data), social media experience (experience and working in various social media platforms).
Answer: See attachment
Explanation:
The adjusting journal entries for the transactions has been attached. It should be noted that for (a), there was a debit of supplies expense by $400 which was calculated as:
= $500 - $100
= $400
For (d),the accounting revenue of $1000 was gotten as:
= 1/2 × $2000
= $1000
