A company's gross profit margin increased from 30% to 35%. If the company generated revenue of $3.5 million at the new margin, what was the gross profit?
Q: Correct Answer
A: To calculate Asset Turnover for 2024, we use the formula: Asset Turnover = Sales ÷ Average Total…
Q: I need help with this problem and general accounting question
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) is the direct cost…
Q: degree of operating leverage ?? accounting
A: Step 1: Definition of Degree of Operating Leverage (DOL)Degree of Operating Leverage (DOL) refers to…
Q: Total factory Overhead costs would be
A: Provided Data:Direct materials = $14,200Indirect materials = $4,300Indirect labor = $9,800Factory…
Q: I am searching for the most suitable approach to this financial accounting problem with valid…
A: Step 1: Definition of Net SalesNet Sales represent the actual revenue a company earns after…
Q: Dear tutor solve with appropriate method.
A: Step-by-Step Calculation:1. Calculate Gross Profit 2. Calculate Operating Income3. Calculate Income…
Q: Need help with this general accounting question
A: Step 1: Definition of Variable Costing InventoryUnder variable costing, only variable production…
Q: Can you help me solve this general accounting problem using the correct accounting process?
A: To calculate the Capital Gains Yield (CGY), use this formula: CGY = (Selling Price - Purchase Price)…
Q: I am looking for the correct answer to this general accounting problem using valid accounting…
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is an estimated…
Q: Accurate Answer
A: Provided Data:Net Income = $185,000Realized gain on sale of available-for-sale securities =…
Q: I need help finding the accurate solution to this general accounting problem with valid methods.
A: To calculate the Capital Turnover Ratio, we use the formula:Capital Turnover Ratio = Sales / Average…
Q: Financial accounting
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is a budgeted rate…
Q: Can you help me solve this general accounting problem using the correct accounting process?
A: Step 1: Definition of Key Ratios and FormulaCurrent Ratio is the ratio of current assets to current…
Q: Please explain the correct approach for solving this general accounting question.
A: Step 1: Definition of Accumulated Other Comprehensive Income (AOCI)Accumulated Other Comprehensive…
Q: Please help me solve this general accounting question using the right accounting principles.
A: Step 1: Definition of Profit MarginProfit Margin is a financial ratio that measures how much of…
Q: Can you demonstrate the accurate steps for solving this financial accounting problem with valid…
A: Step 1: Definition of Basis in LandThe total basis in land is the initial cost of acquiring the…
Q: Need answer
A: Calculate the total contribution margin:Contribution Margin = Sales * Contribution Margin…
Q: I want to this question answer for General accounting question not need ai solution
A: Step 1: Define Owner's EquityOwner's equity represents the owner's claim on the assets of the…
Q: General Accounting
A: Step 1: Define Standard Rate per HourThe standard rate per hour is the predetermined or expected…
Q: Please provide the solution to this general accounting question using proper accounting principles.
A: Step 1: Definition of Investing ActivitiesInvesting activities in a cash flow statement refer to the…
Q: When accounting for business transactions, to what extent should the substance of an event or…
A: Introduction: In accounting, the principle of "substance over form" refers to the idea that…
Q: the company VinGrenDom Ltd is a regional utility and manufacturing firm Create 3 different balance…
A: Below are three different sample balance sheets for a hypothetical company, VinGrenDom Ltd, each…
Q: Financial accounting
A: Step 1: Define Required Return on Preferred StockThe required return on preferred stock is the…
Q: Calculate the actual quantity of materials Riya used
A: Concept of Standard QuantityStandard Quantity refers to the predetermined amount of material that…
Q: A company reports the following figures for the • Net income: $280,000 . Preferred dividends:…
A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a financial metric that…
Q: Dear expert need help by real expert and true answer.
A: Given:Budgeted hours = 2,000Actual hours worked = 1,800Overhead rate = ₹20/hourStep 1: Calculate…
Q: I need assistance with this general accounting question using appropriate principles.
A: Step 1: Definition of Bad Debt ExpenseBad debt expense is the amount of accounts receivable that a…
Q: Please provide correct solution and accounting question
A: Step 1: Definition of Direct Labor VariancesDirect Labor Rate Variance measures the difference…
Q: If the project's cost of capital is 11%, what is the NPV of the project? What is the Year-0 net…
A: NPV Formula:NPV=∑((Cash Flowt/1+r)^t)−Initial Investment Where:r=0.11t=year Step-by-step…
Q: What is marine enterprises after tax net cash inflow?
A: Step 1: Calculate Gross ProfitSales = $120,000COGS = $50,000Gross Profit = $120,000 - $50,000 =…
Q: solve this question by using appropriate methodology and true answer.
A: Given:Current Ratio = 2.8Acid-Test Ratio = 1.2Working Capital = $420,000Current Assets = Cash +…
Q: I need help with this problem and accounting question
A: To calculate the Cost of Goods Sold (COGS), use the formula: COGS = Beginning Inventory + Net…
Q: I am looking for the correct answer to this financial accounting problem using valid accounting…
A: To calculate the opening stock, let's use the Gross Loss method based on the cost.Given:Sales =…
Q: Please provide the answer to this general accounting question using the right approach.
A: Solution:Formula:Required Return = Annual Dividend / Current PriceGiven:Annual Dividend =…
Q: General accounting
A: To calculate the required return on preferred stock, you use the formula for a perpetuity because…
Q: hello expert i need best answer for this question.
A: To calculate the adjusted Cost of Goods Sold (COGS), we'll follow the standard Schedule of Cost of…
Q: How many units would the company have to sell to attain target profits of Rs. 600,000? 88,000 units…
A: To determine how many units the company needs to sell to achieve a target profit of Rs. 600,000, we…
Q: Could you help me solve this financial accounting question using appropriate calculation techniques?
A: Step 1: Definition of Predetermined Manufacturing Overhead RateThe Predetermined Manufacturing…
Q: Answer? ? Financial accounting question
A: To find the Return on Equity (ROE), use the formula:ROE = Net Income / EquityWe are…
Q: I need help finding the accurate solution to this general accounting problem with valid methods.
A: Step 1: Definition of Net Income Net income is the amount of profit left after all expenses have…
Q: Please provide the solution to this general accounting question with accurate financial…
A: Solution:Wages Expense - Cash Paid = Increase in Wages PayableWages Expense = $420 millionCash Paid…
Q: Can you solve this financial accounting question with accurate accounting calculations?
A: Step 1: Definition of Cost AllocationCost Allocation is the process of distributing a company's…
Q: Compare the cost model vs. revaluation model, including pros, cons, and theoretical implications…
A: 2. Revaluation ModelThe revaluation model allows for the periodic adjustment of an asset's carrying…
Q: Can you explain the correct methodology to solve this general accounting problem?
A: Step 1: Operating Cash Flow (OCF)Operating Cash Flow (OCF) is a key financial metric that represents…
Q: Vista Market Store's daily register records an opening float of $250. During the day, the store made…
A: To calculate the expected cash amount in the register at the end of the day, we only include…
Q: I want the correct answer with accounting question
A: Step 1: Definition of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) is the…
Q: degree of operating leverage ??
A: ReferencesInvestopedia. (n.d.). Degree of Operating Leverage (DOL). Retrieved from…
Q: I need help with this financial accounting question using standard accounting techniques.
A: To compute the cash flow for Patton Inc., we'll follow these steps:Given:Gross Profit =…
Q: General accounting question
A: Let's work through this step by step using a bank reconciliation approach.Given:Book (company) cash…
Q: Can you solve this general accounting question with accurate accounting calculations?
A: Step 1: Definition of Desired Profit Desired profit is the target amount of income a company aims to…
I need help with this general accounting question using the proper accounting approach.
Step by step
Solved in 2 steps
- A business improves its gross profit margin from 20% to 22%. What was the gross profit if revenues of $1.5 million were made at the improved margin?A business improves its gross profit margin from 20% to 22%. What was the gross profit if revenues of $1.5 million were made at the improved margin? Find outMillion were made at the improve margin?
- A business improves its gross profit margin from 20% to 22%. What was the gross profit if revenues of $1.5 million were made at the improved margin? Answer to below QuestionA business improves its gross profit margin from 20% to 22%. What was the gross profit if revenues of $1.5 million were made at the improved margin? HelpI want answer
- What is the profit margin?If a company has a profit margin of 10%, this means that:A) For every $1 of sales, the company earns $0.10 in profit.B) The company has $0.10 in expenses for every $1 of sales.C) The company’s revenue exceeds its expenses by 10%.D) The company’s assets exceed its liabilities by 10%.explain.What is the net profit margin?
- What is its profit margin? General accountingWhat is its profit margin?PLease show Solutions for a guide. 1. A firm total sales is 156,000 this year. If the cost of sales is 55% . What is the amount of gross profit? 2. If the firm above earned a profit of 39,000 . How many percent of total sales is the net profit? 3. Compute for the operating expenses of the firm 1 and 2. How many percent of the total sales are the operating expenses?