The net income is $3,800, sales is $42,000, and cost of goods sold is $29,400. What is the gross margin?
Q: General accounting
A: Step 1: Definition of Pretax IncomePretax Income represents the company's profit before deducting…
Q: Give solution correctly no chatgpt
A: 1. Contribution Margin per Machine HourSelling Price per Unit = $55.00Variable Cost per Unit =…
Q: Bodhi Company has three cost pools and two doggie products (leashes and collars). The activity cost…
A: (a) Compute the Activity-Based Overhead RatesThe overhead rate for each activity cost pool is…
Q: What is the correct option this general accounting question?
A: Step 1: Information givenTotal Asset Turnover = 1.6Net Profit Margin = 5%Debt Ratio = 40% or 0.4 (in…
Q: AMC Enterprises is preparing its cash budget for October. The budgeted beginning cash balance is…
A: To determine how much AMC Enterprises should borrow, let's analyze the cash budget: Given…
Q: Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made…
A: As per the Law, businesses can deduct up to $5,000 of start-up costs and $5,000 of organizational…
Q: I don't need ai answer general accounting question
A: The net profit margin is calculated using the formula: Net Profit Margin=(Total RevenuesNet…
Q: ??
A: To calculate the Return on Equity (ROE), we use the formula: ROE = Net Income / Shareholders' Equity…
Q: Accurate Answer
A: The sales volume variance is calculated as:Sales Volume Variance=(Actual Sales Volume−Budgeted Sales…
Q: Star Sports sells baseball equipment. On October 10, they shipped $5,600 worth of baseball gloves to…
A: Explanation of Accounts Receivable:Accounts receivable refers to the amount of money a company is…
Q: Sin Carter's start-up business is growing rapidly, but he needs $300,000 in additional funding to…
A:
Q: Get correct answer with accounting question
A: Step 1: Definition of Shareholders' EquityShareholders' Equity represents the residual interest in a…
Q: How much is the total manufacturing cost?
A: Explanation of Total Manufacturing Cost: Total manufacturing cost represents the aggregate…
Q: Accounting question
A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is a budgeted rate…
Q: Answer? ? Financial accounting question
A: Step 1:First calculate the cash sales for June: Cash sales, June = Total sales, June * 30%…
Q: New Technologies has currentliabilities of $390,000, a quick ratio of 1.30, an inventory turnover of…
A: Concept of Current RatioThe current ratio is a liquidity measure that indicates a company's ability…
Q: Bruce Inc. began the year with stockholders' equity of $280,000. During the year, the company…
A: Explanation of Stockholders' Equity: Stockholders' equity represents the residual interest in a…
Q: Correct answer please
A: Step 1: Definition of Gross ProfitGross profit is the difference between total sales revenue and the…
Q: what is the overhead at the end of the year ?
A: Step 1: Definition of Over- or Under-Applied OverheadManufacturing overhead is applied to production…
Q: Get correct answer with accounting
A: To determine Avalon Inc.'s share price without the increase in leverage, we use the formula:Share…
Q: Empire Manufacturing recorded the following direct materials costs for December: Actual Costs: 5,200…
A: Step 1: Definition of Direct Materials Quantity VarianceThe Direct Materials Quantity Variance…
Q: Nozama.com Inc. sells consumer electronics online. For the upcoming period, the budgeted cost of the…
A: Step 1: Definition of Activity Rate Activity Rate is a key concept in Activity-Based Costing (ABC),…
Q: What are the total assets
A: Explanation of Total Assets:Total assets represent the sum of everything a company owns, including…
Q: Hello tutor provide answer this accounting question please help
A: Step 1: Definition of EBIT (Earnings Before Interest and Taxes)EBIT (Earnings Before Interest and…
Q: Give me correct answer please
A: The Direct Labor Efficiency Variance measures how efficiently the labor hours were used during…
Q: How much sunshine's contribution margin ratio?
A: Step 1: Definition of Contribution Margin RatioThe contribution margin ratio (CMR) represents the…
Q: Find the firm's asset turnover ratio and ROA of this financial accounting question
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that…
Q: The amount of the direct materials quantity variance?
A: Step 1: DefinitionsConcept of Direct Materials Quantity Variance - Direct materials quantity…
Q: Provide answer
A: Explanation of Work in Process Inventory:Work in Process (WIP) inventory consists of units that have…
Q: 1) Evaluate the progress and challenges in achieving a single set of global accounting standards. 2)…
A: 1) Progress and Challenges in Achieving a Single Set of Global Accounting StandardsProgress:Efforts…
Q: Please help me this question
A: Step 1: Definition of Shareholder Equity & Net Working Capital (Detailed Explanation)Shareholder…
Q: Quantum Mobile Ltd. purchases and resells smartphones. On September 5th, 2022, the company purchased…
A: Concept of Cost of Goods Sold (COGS)The Cost of Goods Sold (COGS) refers to the direct costs…
Q: ???
A: Option a: This option is correct because disaggregation analysis divides complex contracts into…
Q: Critically evaluate the progress and challenges in achieving a single set of global accounting…
A: The progress towards a single set of global accounting standards has been significant, with the…
Q: Palease give me answer accounting
A: Step 1: Definition of Pretax IncomePretax Income represents the profit a company earns before…
Q: On July 31, 2025, the general ledger of Cullumber Legal Services Inc. showed the following balances:…
A: Journalizing transactions involves recording the debit and credit of each financial transaction made…
Q: On July 10, Queer Optics sells merchandise on account to Vision Plus (VP) for $5,200, terms 3/10,…
A: Explanation of Merchandise on Account: This refers to goods sold to a customer with an agreement…
Q: Everett Corporation started the year with long-term debt of $85,000, which represents the principal…
A: To determine the value of the ending long-term debt, we follow these steps:1. Starting long-term…
Q: Determine the net profit under variable costing on these financial accounting question
A: Step 1: Define Net Profit under Variable CostingNet profit under variable costing differs from…
Q: Bonita Industries reports the following ledger account balances at June 30, 2025: Cash $1158…
A: In accounting, accounts are classified as either debit or credit accounts. Debit accounts include…
Q: In 2019, a company reported sales revenue of Landon Manufacturing Company produced 2,000 units of…
A: Step 1: Definition of Overhead Cost Pool and Predetermined Overhead RateOverhead Cost PoolAn…
Q: Calculate the Budgeted direct labor costs for August. general accounting
A: Compute the budgeted production.Budgeted production = Budgeted sales + Desired ending inventory -…
Q: managerial accounting
A: Step 1: Definition of Standard Direct Materials Cost and Budgeted Direct Materials CostStandard…
Q: Solve with explanation and accounting question
A: Step 1: Definition of Asset Turnover RatioThe Asset Turnover Ratio measures how efficiently a…
Q: A company reports total liabilities of $2,100 and stockholders' equity of $1,600. What is the amount…
A: Step 1: Recall the basic accounting equation.Total Assets = Total Liabilities + Total Shareholders'…
Q: Charlotte's Cleaning Services began the year with total liabilities of $120,000 and stockholders'…
A: Explanation of Total Liabilities: Total liabilities represent the aggregate of all debts and…
Q: What is the variance percentage?
A: So, the variance percentage is 5.5555%. If you need to round to a specific decimal place, you can do…
Q: What was the cash flow to stockholders of the financial accounting?
A: Step 1: Definition of Cash Flow to ShareholdersCash Flow to Shareholders represents the amount of…
Q: A gourmet coffee shop currently sells 25,000 premium coffee cups annually at an average price of $5…
A: **Step 1: Calculate current revenue**The coffee shop currently sells **25,000** premium coffee cups…
Q: What percentage of RBC’s total assets is held in investments (at October 31, 2020 and 2019)? refer…
A: Royal Bank of Canada (RBC) holds a mix of loans and securities in its portfolio of assets to balance…
What is the gross margin? General accounting
Step by step
Solved in 2 steps
- In a common-sized income statement, 100% is the a. net cost of goods sold b. gross profit c. sales d. net incomeIf Net Sales is $10,500, Cost of Goods Sold is $5,400, Gross Profit is $5,100 and Operating Expenses are $1,800, what is the Net Income from Operations?Calculate its gross margin ratio.
- Calculate it's gross margin ratio? General accountingHow much was the cost of goods sold?Determining Gross Profit During the current year, merchandise is sold for $11,750,000. The cost of the goods sold is $7,050,000. a. What is the amount of the gross profit?$ b. Compute the gross profit percentage (gross profit divided by sales). Round to the nearest whole number. % c. When will the income statement report net income?
- Consider the following income statement: Sales Costs $ 602,184 391,776 Depreciation 89,100 Taxes Calculate the EBIT. EBIT 21% Calculate the net income. Net incomeWhat is the gross profit?Consider the following income statement: Sales Costs Depreciation Taxes Calculate the EBIT. EBIT $748,168 486,752 110,700 Net income 23% Calculate the net income.