QUESTION 7 Using the following information, calculate the monthly net profit Sales for the month Food costs 73,904 25% of Sales Labor costs 45% of Sales Rent and Insurance $1500/month Supplies $2217/month Other expenses $3791/month OA. $51,733 OB. $22,171 OC. $7508 OD. $14,663 QUESTION 8 Calculate the profit margin from the last problem OA. 17.5% OB. 19.84% OD. 22.22% OC. 18.29% Submit to save and submit. Click Save All An

QUESTION 7 Using the following information, calculate the monthly net profit Sales for the month Food costs 73,904 25% of Sales Labor costs 45% of Sales Rent and Insurance $1500/month Supplies $2217/month Other expenses $3791/month OA. $51,733 OB. $22,171 OC. $7508 OD. $14,663 QUESTION 8 Calculate the profit margin from the last problem OA. 17.5% OB. 19.84% OD. 22.22% OC. 18.29% Submit to save and submit. Click Save All An

Name: Question Completion Status:QUESTION 7Using the following information,
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Description: Question Completion Status:QUESTION 7Using the following information, calculate the monthly net profitSales for the monthFood costs73,90425% of SalesLabor costs45% of SalesRent and Insurance$1500/monthSupplies$2217/monthOther expenses$3791/monthOA.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Saved Assume a merchandising company's estimated sales for January, February, and March are $111,000, $131,000, and $121,000, respectively. Its cost of goods sold is always 60% of its sales. The company always maintains ending merchandise inventory equal to 20% of next month's cost of goods sold. It pays for 20% of its merchandise purchases in the month of the purchase and the remaining 80% in the subsequent month. What are the cash disbursements for merchandise purchases that would appear in the company's cash budget for February? Multiple Choice O $72,680 $73,680 $70,680 $67,680 Help Save & Exit Submi
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