You can do financial transactions through mobile banking using a A.Smartphone B. Home phone C.Smart Card D.Computer

On January 1, JKR Shop had $225,000 of inventory at cost. In the first quarter of the year, it purchased $795,000 of merchandise

Gala2k [10]

Answer:

The estimated cost of inventory at the end of the first quarter is $327,250.

Explanation:

Gross profit : The gross profit represents the difference between sale price and purchase price.

The gross profit margin shows the ratio between gross profit and sales.

The calculation of cost of ending inventory is shown below:

First we have to calculate the cost of good sold.

Cost of goods sold = Beginning Merchandise inventory + Purchase of merchandise inventory - Returned Merchandise inventory + Freight charges

= $225,000 + $795,000 - $11,550 + $18,800

= $1,027,250

Now, we have to calculate the approximate cost of goods sold.

Since gross profit is 30% and net sales is $1,000,000

And, The Gross profit = Sales - cost of goods sold

So the Approximate cost of good sold = Net sales × (1 - 30%)

= $1,000,000 × 70%

= $700,000

Here 70% is the cost of goods sold percentage and 1 here denotes sales.

After considering these amounts, the ending inventory would be

= Cost of goods sold - Approximate cost of goods sold

= $1,027,250 - $700,000

= $327,250

Hence, the estimated cost of inventory at the end of the first quarter is $327,250.

5 0

2 years ago

Explain how workplace safety is guaranteed by the roles of the government, the employer, and the employee

GuDViN [60]

<u>Explanation:</u>

Workplace safety is the responsibility of the employer to provide a safe place to work for the employees. According to Occupational Safety and Health administration it is necessary to follow certain job safety standards by the employer. The employer has to give safety awareness to the employees. Employees can utilize the safety empowerment and report to management if there are any safety issues.

The government's responsibility is to set standards for the business enterprises to maintain their workplace safety. The government collects fines if anything is beyond the safety regulations or improper standards of organisations.

7 0

2 years ago

Read 2 more answers

The budget for Department 6 of Cardinal Company for the current month ending March 31 is as follows:

Hitman42 [59]

Answer:

a) Cardinal Company, department 6

Budget performance report

For the month ended march 31, 202x

Budget Actual Over Under

budget budget

Materials $208,000 $204,000 $4,000

Factory wages $265,000 $285,000 ($20,000)

Supervisory salaries $67,800 $63,600 $4,200

Depreciation P&E $35,000 $35,000 - -

Power and light $22,500 $21,360 $1,140

Insurance and $15,500 $14,400 $1,100

property taxes

Maintenance $9,700 $9,456 $244

Total $623,500 $632,816 ($9,316)

b) Factory wages were higher than budgeted by $20,000 or 7.55%, supervisory salaries were lower than budget by $4,200 or 6.19%, power and light were lower than budgeted by $1,140 or 5.07%, and insurance and property taxes were lower than budgeted by $1,100 or 7.1%

7 0

2 years ago

Toyota and Honda both have the capabilities to build cars of high quality at relatively low cost and their products regularly be

Liono4ka [1.6K]

Answer:

Rare

Explanation:

VRIO Analysis is an analytical technique for the evaluation of company's resources and thus the competitive advantage. VRIO comes from the initials of the evaluation dimensions: Value, Rareness, Imitability, Organization.

A resource is rare simply if it is not widely possessed by other competitors. When a firm has valuable resources that are rare in the industry, they are in a position of competitive advantage over firms that do not have the resource.

8 0

1 year ago

If all you knew about a production system was that total daily output was 400 units and the total labor necessary to produce the

Serjik [45]

Answer:

partial measure

Explanation:

Based on the information provided it can be said that the kind of productivity measure that can be used would be a partial measure. Partial Productivity measure relates output to a single input unit. For example, capital productivity deals with output per unit of capital while energy productivity relates output per joule of energy used. In this scenario, we would need labor productivity which is output per hour worked.

6 0

2 years ago