TileSquare Inc. buys floor tiles at $0.89 each from its manufacturer. If a contractor purchases 120 tiles and pays $142.80 for the tiles, how much was the markup per tile? What was the percentage markup of the overall price?
Q: Naveena Smith is a single individual. She claims a standard deduction of $12,000. Her salary for the…
A: Concept of Gross Income: Gross income refers to the total income earned before any deductions or…
Q: General Account Subject Questions
A: Step 1: Understand the ScenarioBeginning WIP Inventory:6,000 units, 50% complete with respect to…
Q: Give true answer this financial accounting question
A: To calculate the Holding Period Return (HPR) and Holding Period Yield (HPY) on your investment, we…
Q: Thompson corp. Has a total debt ratio
A: Total Debt Ratio = Total Debt/Total Assets45% = 245,000/Total AssetsTotal Assets = 245,000/45%Total…
Q: How much is the material quantity variance?
A: Explanation of Standard Cost:This is a predetermined cost per unit that represents what a product…
Q: Financial accounting
A: Explanation: The amount of income tax expense for 2019 will be = Current tax expense for 2019 +…
Q: Explanation
A: Key Definitions:Accrual Basis Accounting: Records revenue when earned and expenses when incurred,…
Q: General accounting
A: Step 1: Definition of Asset TurnoverAsset turnover is a financial ratio that measures a company's…
Q: 1. Net income 750 2. Depreciation 86
A: To calculate the total cash from operating activities, we need to adjust the net income based on…
Q: Which of the following is the predetermined overhead rate, if calculated using direct labor hours?
A: The predetermined overhead rate is a rate calculated in advance of an accounting period to allocate…
Q: Before prorating the manufacturing overhead costs at the end of 2016, the Cost of Goods Sold and…
A: Explanation of Manufacturing Overhead:Manufacturing overhead refers to all indirect costs incurred…
Q: Need answer the financial accounting question
A: Step 1: Define Effective Interest RateThe effective interest rate can be a useful tool to analyze…
Q: When the predetermined overhead rate is based on direct labor-hours, the amount of overhead applied…
A: When companies allocate manufacturing overhead to jobs, they often use a predetermined overhead rate…
Q: provide solution to this financial accounting problem
A: Explanation of Absorption Costing:Absorption costing is a method where all manufacturing costs,…
Q: Solve thi question financial accounting
A: Step 1: Define Contribution Margin RatioThe contribution margin ratio (CMR) is a key financial…
Q: I won't to this question answer general Accounting
A: The return on assets (ROA) is calculated using the formula: ROA = (Net Income / Average Total…
Q: Question 45 . Related to financial accounting. 4 marks
A: Explanation of Net Income:Net Income represents the total earnings of a company after deducting all…
Q: Not use chart gpt solution please provide answer general Accounting
A: The Total Holding Period Percentage Return (THPR) is calculated using the formula: THPR = ((Ending…
Q: Tutor help me
A: Step 1: Introduction to closing entriesClosing entries are journal entries made at the end of an…
Q: I won't this question answer general Accounting
A: Step 1: Define Gross ProfitThe gross profit is the overall profit after neglecting the expenses and…
Q: Answer this general accounting question
A: Explanation of Net Sales:Net sales represent the revenue a company earns from selling goods or…
Q: None
A: Step 1: Define Gross ProfitThe whole amount of money you make from selling a product is referred to…
Q: Net sales are $3,000,000, beginning total, assets are $1,400,000. and the asset turnover is 3.0…
A: Step 1:Given information: Net sales = $3,000,000Beginning total assets = $1,400,000Asset turnover =…
Q: Please provide this question solution general accounting
A: Step 1: Definition of Economic Order Quantity (EOQ)Economic Order Quantity (EOQ) is the optimal lot…
Q: Mr. Husker's Tuxedos Corp. ended the year 2017 with an average collection period of 35 days. The…
A: Average Collection PeriodThe average collection period tells us the average number of days it takes…
Q: Do fast answer of this accounting questions
A: Step 1: Define Return on AssetReturn on asset is a financial ratio that compares the assets of the…
Q: Need help with this question solution general accounting
A: Step 1: Definition of Operating LeverageOperating leverage measures the sensitivity of operating…
Q: Mona reported $70,000 in net profit for the year using absorption costing. The company had no units…
A: To calculate the net profit under variable costing, we need to account for the key difference…
Q: Provide correct option general accounting
A: To calculate the accrued interest recorded for the note, we use the simple interest formula:Interest…
Q: Hello tutor please provide this question solution general accounting
A: Step 1: Definition of Stockholders' EquityStockholders' Equity: It represents the owners' residual…
Q: Stonier company has a materials price solve this question
A: The Materials Quantity Variance (MQV) is calculated using the formula: MQV = (Standard Quantity…
Q: account
A: To calculate the equivalent units of production (EUP) for conversion costs using the weighted…
Q: Differential Chemical produced 18,000 gallons of Preon and 39,000 gallons of Paron. Joint costs…
A: Step 1: To calculate the portion of joint costs to be allocated to Preon if the value basis is used…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Net IncomeNet income is the total profit of a company after deducting all…
Q: Provide correct answer the accounting question
A: Purchase Value = Purchase Price*No. of sharesPurchase Value = 65*100Purchase Value = $6,500 Selling…
Q: Zorro Company has a delivery truck that is being sold after 5 years of use. The current book value…
A: Explanation of Book Value: Book value, also known as carrying value, represents the original cost of…
Q: 26. Armstrong Co has produced the following net profit figures for the years ending 31 December. Sm…
A: Step 1: Calculate the Bonus Fraction The bonus fraction adjusts for the rights issue to reflect the…
Q: Do fast answer of this accounting questions
A: Information Given:Number of shares: 200,000Debt to be issued: $500,000Interest rate on debt:…
Q: Please given correct answer general Accounting
A: Step 1: Define Sales RevenueThe sales revenue is the income received by selling the products or…
Q: Quirky Inc. is a Subchapter S corporation. It properly reported a net income of $100,000 for…
A: Quirky Inc., as a Subchapter S corporation, is a pass-through entity for federal income tax…
Q: Sandals Company is preparing the annual financial statements dated December 31. Ending inventory…
A: Problem OverviewSandals Company is preparing its year-end financial statements and needs to apply…
Q: What is Mitsys forced manufacturing overhead budget variance?
A: Explanation of Budget Variance:This is the difference between the budgeted amount and the actual…
Q: Job 910 was recently completed
A: Explanation of Direct Labor Cost:Direct labor cost is the total expense incurred for the labor…
Q: Which of the following does NOT appear on an income statement prepared using variable costing? A.…
A: Correct Answer: C. Gross margin Explanation:Variable Costing Overview:Under variable costing, only…
Q: Sterling electronics has announced net earnings solve this accounting questions
A: Step 1: Definitions of Key MetricsEarnings Per Share (EPS):EPS measures the amount of net earnings…
Q: Use absorption costing
A: Explanation of Variable Manufacturing Cost: Variable manufacturing cost represents the combination…
Q: Sarasota Company follows the practice of pricing its inventory at LCNRV, on an individual-item…
A: Sarasota Company follows the practice of pricing its inventory at LCNRY, on an individual-item…
Q: Norris company's 2013 income statement is ? General accounting
A: The net income is calculated as follows: Net income = Service revenue - Operating expenses…
Q: Answer? ? General Accounting
A: Step 1: Define Gross ProfitNet sales are reduced by the cost of products sold to generate gross…
Q: General Account
A: Step 1: Understand the LCM RuleFor each commodity, the inventory value is calculated based on the…
I won't to this question answer general Accounting
Step by step
Solved in 2 steps
- Financial accounting questiona. For how much does Nicolas Appliance Center sell an electric fan? 2. Nicolas Appliance Center has purchased electric fans for Php 800 eac The electric fans are marked up 48% of the selling price. b. What is the rate of markup based on cost?At Lowe's, each contractor receives 5% discount for his purchases. A contractor buys a saw which is listed at $149 less 10% What is the actul price paid by the contractor? Select one: A. $127.40 B. $134.10 C. $141.55 D. $128.68 E. $129
- A home costs $148,500 to build and is sold for $168,000. What is the percent markup on selling price to the nearest tenth of a percent?Glam company offers customers a pottery cereal bowl if they send in three boxtops from its products and P10. The entity estimated that 60% of the boxtops will be redeemed. During the current year, the entity sold 675,000 boxes and customers redeemed 330,000 boxtops receiving 110,000 bowls. The cost of each bowl is P25. 1a. What is the premium expense for the current year? a. 1,650,000 b. 2,025,000 c. 4,550,000 d. 6,075,000 1b. What is the liability for outstanding premiums at year-end? a. 250,000 b. 375,000 c. 625,000 d. 875,000Home Depot sells a couch for $250.50. The dollar amount of markup on the couch is $95.72. Round all dollar values to two decimal places and percentages to two decimals (i. e 34.56%). a. What is the cost to Home Depot? [1 pt] b. What is the markup on selling percentage? 1pt
- Mr. Assad a Wholesaler buys a product from the Al Mazoon manufacturing company at RO 700 and pays VAT at the prescribed rate of 10%. a retailer buys a product from the wholesaler at RO 800 and the wholesaler charges VAT at the prescribed rate of 10%. The retailer fixes the price at RO 1000 and charges VAT at the same rate. Mr. Yousuf buys the product from the ABC LLC. What is the price including VAT that Mr. Yousuf has to pay to buy the Product? What is input tax and output tax? Discuss Amount of output tax for the retailer and wholesaler. How much VAT does the retailer pay to the government? VAT is different from sales tax system. Explain and give reason to your answerAn office supply store adds a $2.50 markup to calculators and sells them for $6.95. (a) What is the cost (in $) of the calculators? $ (b) What is the percent markup based on cost? (Round your answer to the nearest tenth of a percent.) %Assume a jeweler paid $1,000 for a watch and sold it for $4,000. What would be his markup based on cost? Show calculations. What would be his markup based on selling price? Show calculations.
- The Garden Shoppe buys hedge trimmers from a wholesaler and sells them to customers at a retail price of $417.96 each. The Garden Shoppe earns a 37% markup on its cost for this hedge trimmer. Calculate The Garden Shoppe's cost for one hedge trimmer. (Rounding: penny.)Ivy purchases phones for $260.50 each and is selling them for $330.00 each. a. What is the rate of markup on cost? % Round to two decimal places b. What is the rate of markup on selling price?Please give answer of the questions