Answer:
$2,320
Explanation:
It is given that the cost of goods sold should be calculated as per specific identification method. Cost of goods sold consists of total cost of sales which includes the product of the unit and cost per unit of sales. The sale on June 7 consists of the cost of $190 as per beginning inventory. The sale on June 15 consists of the sale of 3 fishing reels from beginning inventory which costs $190 per unit and 9 fishing reels from units purchased on June 12 which, costs $180 per unit. Likewise, the sale on June 29 consists of cost of $190 and cost of $170 from the purchase of June 24. Thus, the cost of goods sold is $7,980.
It is given that the total cost is $7,980. The cost of goods sold is $5,660. Cost of ending inventory can be found by deducting cost of goods sold from the total cost. Thus, the total cost of ending inventory is $2,320.
See attached picture for further explanation.
The Fed's policy tools focuses on required reserve ratio, the discount rate, and open market operations. The required reserve is set by the Fed to determine the required reserve ratio for each type of deposit made. The discount rate is set by the Fed by which interest rates are given out by commercial banks. The open market operation is the purchase or sale of government securities.
Answer and Explanation:
In the case of proprietorship
net profit is
= Operating income - operating expenses
= $220,000 - $175,000
= $45,000
Since the long term capital loss is given i.e. $10,000 so the same is to be considered
In the case of C Corporation
Since no dividend is paid so here the net profit and the long term capital loss would be zero
In this instance you will need to calculate the future value of the investment. The formula for this is FV = I * [1 + (R * T)]
FV - future value
I - initial investment (300,000)
R - Interest Rate (5%)
T - number of years you will hold the investment (3 years)
Once you calculate this formula, you will need to compare it to the price of the home if they sold it (351,700). If the future value calculation is LESS than the sales price, then the house was a GOOD investment.
Answer:
67.29%
Explanation:
The computation of the contribution margin ratio is shown below:
Contribution margin ratio = (Contribution margin) ÷ (Sales) × 100
where,
Contribution margin equals to
= Total sales - variable cost
= $214,000 - $70,000
= $144,000
So, the Contribution margin ratio is
= ($144,000) ÷ ($214,000) × 100
= 67.29%