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3 years ago

What is an example of a firm

Business

2 answers:

frutty [35]3 years ago

5 0

Co-operation, partnership, bank, collectives ..

DaniilM [7]3 years ago

4 0

An example of a firm is an office firm

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Spirit Company made sales of $ 38 comma 000 million during 2018. Cost of goods sold for the year totaled $ 17 comma 100 million.

ddd [48]

Answer:

Inventory TO 9

Gross profit percentage: 55%

Explanation:

Inventory Turnover

$\frac{COGS}{Average Inventory} = $Inventory Turnover$

where:

$$$Average Inventory=(Beginning Inventory + Ending Inventory)/2$

COGS 17,100

beginning: 1,800

ending: 2,000

$$$Average Inventory=1,800 + 2,000)/2$

Average Inventory: 1900

$\frac{17,100}{1900} = $Inventory Turnover$

Inventory TO 9

Gross profit percentage:

$\frac{sales-COGS}{sales}$

$\frac{38,000-17,100}{38,000}$

Gross profit percentage: 0.55 = 55%

3 0

3 years ago

Cement Company, Inc. began the first quarter with 1,000 units of inventory costing $25 per unit. During the first quarter, 3,000

3241004551 [841]

Answer:

Calculation of Cost of Goods sold under LIFO:

For 3,000 units (3000*40) $120,000

For 400 units (400*25) $10,000

Add: Excess of replacement cost over historical $8,000

cost of LIFO liquidation (400*(45-25))

Cost of Goods sold under LIFO $138,000

Journal entry

Date Account Titles and Explanation Debit Credit

Cost of Goods sold $138,000

Inventory (120000+10000) $130,000

Excess of replacement cost over $8,000

historical cost of LIFO liquidation

3 0

3 years ago

Dissolution of common salt in water is physical change. give reason

Misha Larkins [42]

haiahaiajajonajsb aohsusjsosvdisw

8 0

3 years ago

CORRECT ANSWERS ONLY!

sasho [114]

Answer:

1. False

2. True

3. False

4. False

Explanation:

1. Associate degree

2. A masters in business administration would be an asset to someone wanting to run a business

3. A minor is a great way to augment skills

4. There is also a bachelors of fine arts

6 0

3 years ago

Roget Factory has budgeted factory overhead for the year at $15,500,000. It plans to produce 2,000,000 units of product. Budgete

yawa3891 [41]

Answer:

$14,76

Explanation:

Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is $14,76.

6 0

3 years ago