Dwayne has proper funding for his bicycle shop, but needs assistance on what to do next.<u>The type of assistance needed by Dwayne is Small Business Administration</u>
Explanation:
In U.S. Small Business Administration is a United States government agency that render support the budding entrepreneurs and small businesses houses
The Small Business Administration (SBA) was established in the year 1953 with intention of providing assistance to small business houses ,thus promoting economic growth.
The main function of SBA includes providing counselling and financial aid to individuals trying to start their own businesses.
The assistance of SBA is provided in four main areas:
- Financial aid
- Educating and training individuals
- Providing Government contracts
- Acts as a supporting voice in policy matters.
All the above mentioned programs are aimed to help entrepreneurs start and establish their businesses .
If the exchange rate was 1.2 Canadian dollars per US dollar, a watch that costs $12 US dollar would cost 14.4 Canadian Dollars.
<h3>What is Exchange Rate?</h3>
An exchange rate is the currency difference that two different currencies have this rate converts one currency into another. There are countries whose currency is high and there are small countries whose currency is too low, exchange rate helps to convert currency.
1 US Dollar is equal to 1.2 Canadian Dollars, while calculating the cost of watch we need to multiply the US dollars with the exchange rate given to get the amount in Canadian Dollars.
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Answer:
$15,000
Explanation:
The computation is given below:
The goods available for sale is
= $40,000 + $480,000
= $520,000
And the sales is $620,000
So, the gross profit
= $620,000 × 25%
= $155,000
So, the cost of goods sold is
= Sale - Gross profit
= $620,000 - $155,000
= $465,000
Now the ending inventory is
= $520,000 - $465,000
= $55,000
And, the reimbursement amount is
= ($55,000 - $5,000) × 70%
= $35,000
So, the loss from the explosion is
= $55,000 - $5,000 - $35,000
= $15,000
Explanation:
The preparation of forecasted contribution margin income statement for 2018 is shown below:-
Sales (9600 × $225) $2,160,000
Variable costs = 9600 × (180-9) $1,641,600
Contribution margin $518,400
Less Fixed costs = 324,000 + 40,500 $364,500
Pretax Income $153900
