Homework Answers
Solution A:
Average unit of sales = $3,250 / 225 = $14.44
Solution B:
Average unit of sales = $2,600 / 112 = $23.21
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2. Calculate Gross Profit for A and B. Gross profit is the profit of a business...
17. The market is perfectly competitive and your business is considered to be profit maximizing. Your...
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calculate the net loss or net profit based on the information
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b.) Calculate the following ratios for each of the three years
presented:
Gross Profit (2018) _________ (2017)__________ (2016)
_________
Ratio of operating expenses to sales (or operating revenue) (%)
(2018) _________ (2017)__________ (2016) _________
Profit Margin (%) Net income/sales or operating revenues (2018)
_________ (2017)__________ (2016) _________
Return on assets Net income/average total assets (2018)
_________ (2017)__________ (2016) _________
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17. The market is perfectly competitive and your business is considered to be profit maximizing. Your business earns economic profits of $1500. The foxed costs of your business decrease from $500 to $450. This means your business will b C a reduce its output raise is price eam a greater profil d. earn a smalier profit 18. Sebastian has the choice of working as a grocery store stocker ($12/hour) or washing windows for local businesses ($4 per window). He doesn't...
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Flow of Costs and Income Statement R-Tunes Inc. is in the business of developing, promoting, and selling musical talent online and with compact discs (CDs). The company signed a new group, called Cyclone Panic, on January 1, 2018. For the first six months of 2018, the company spent $2,194,500 on a media campaign for Cyclone Panic and $658,000 in legal costs. The CD production began on April 1, 2018 R-Tunes uses a job order cost system to accumulate costs associated...
Janet has a business designing handmade bookmarkers. Her unit of sale is one bookmarker: She sells 40 bookmarkers per week to a bookstore in her neighborhood · Her selling price is $4.50 each, including an envelope. . Her costs are 80€ per card for materials (construction paper, glue, and paint) and 20¢ each for the envelopes, for a total of $1.00 each. On average, it takes her one hour to make six bookmarkers. • Janet pays herself $9 an hour....
calculate the net loss or net profit based on the information
for the year.
OME N Atte Sec . SCHEDULE C Profit or Loss From Business (Form 1040 or (Sole Proprietorship) 1040-SR) Go to www.lrs.gow Schedule for instructions and the latest information Department of the Treasury *Attach to Form 1040, 1040-SR, 1040-NR, or 1041; partnerships generally must file Form 1065. Intemal Revenue Service Income 1 Gross recebe orales. Incons for line 1 and check the box this come was reported...
b.) Calculate the following ratios for each of the three years
presented:
Gross Profit (2018) _________ (2017)__________ (2016)
_________
Ratio of operating expenses to sales (or operating revenue) (%)
(2018) _________ (2017)__________ (2016) _________
Profit Margin (%) Net income/sales or operating revenues (2018)
_________ (2017)__________ (2016) _________
Return on assets Net income/average total assets (2018)
_________ (2017)__________ (2016) _________
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