Assume the perpetual inventory system is used. 1) Green Company purchased merchandise inventory that cost $16,100 under terms of 3/10, n/30 and FOB shipping point. 2) Green Company paid freight cost of $610 to have the merchandise delivered. 3) Payment was made to the supplier on the inventory within 10 days. 4) All of the merchandise was sold to customers for $23,700 cash and delivered under terms FOB destination with freight cost amounting to $410. What is the amount of gross margin that results from these transactions

Answers

Answer 1

Answer:

$7,473

Explanation:

Calculation to determine the amount of gross margin that results from these transactions

First step is to calculate COGS

COGS=$16,100-($16,100 * 0.03)+$610

COGS=$16,100-$483+$610

COGS=$16,227

Now let calculate the Gross margin

Using this formula

Gross margin = Sales revenue - COGS

Let plug in the formula

Gross margin=$23,700 - $16,227

Gross margin =$7,473

Therefore the amount of gross margin that results from these transactions is $7,473


Related Questions

Which of the following is the best example of the use of automation?: (A) A garment sewn by an operator at a sewing machine. (B) A letter written by a secretary using a computer. (C) An automobile painted by a computer-directed robot on an assembly line. (D) A medical assistant drawing blood from a patient's arm.

Answers

Answer:

c

Explanation:

no humans

A city filed eminent domain proceedings in order to obtain 40 beach houses fronting a particularly attractive stretch of shoreline. As part of an elaborate plan to increase the city's tourist trade and revive the local economy, the city planned to sell the beach houses to a company that would demolish the houses and build a luxury hotel in their place. The owners of the beach houses have challenged the city's exercise of eminent domain, contending only that the city's plan is unconstitutional. Will the owners of the beach houses be likely to prevail

Answers

Answer:

No, because the planned sale to the private developer to increase the tourist trade qualifies as a public use.

Explanation:

Eminent domain is the provision that gives a government the ability to take a private property and convert it to public use. The owner of the property is however required to be compensated adequately.

In this instance the city filed eminent domain proceedings in order to obtain 40 beach houses as part of an elaborate plan to increase the city's tourist trade and revive the local economy.

Since this is for public gain the city has a legal right to file for an eminent domain here.

So the owners will most likely not prevail in this situation

Al hires Bob to move his furniture to his new house. On the day of the move, Bob does not feel like moving furniture, so he asks his friend Chuck to move the furniture. Chuck decides to leave before completing the move in order to watch a football game on TV. Al has to delay his move and hire another mover at a higher price. Al wants to sue Bob to recover for his damages. Given these facts, Al will most likely:

Answers

Answer: Win, because Bob is still liable to Al.

Explanation:

Accepting to do a job must come with commitment on the side of the servicer. It is unjust to accept a job without making much effort or input to see it carried out. Some businesses do this especially when a bigger offer comes their way and these puts a bad name to their organization as the failed client will have no good thing to say about them, when the cases goes like this, the client who was failed raises the issue to court and would win since he has already engaged the services, this is the tail between Bob and Al.

22. Which of the following does not demonstrate evidence regarding the ability to consummate a refinancing of short-term debt? A) Management indicated that they are going to refinance the obligation. B) Actually refinance the obligation. C) Have capacity under existing financing agreements that can be used to refinance the obligation. D) Enter into a financing agreement that clearly permits the entity to refinance the obligation.

Answers

Answer:

A) Management indicated that they are going to refinance the obligation.

Explanation:

The short-term financing is made immediately as it is required to cover the short-term obligations of the entity in a very short time.  

The Manage does not indicate the refinancing of the obligation from short-term debt because they have less time to fulfill the obligation. The indiction can be made in long-term debt financing.

All of the other options indicate that the refinancing can be made from the short-term debt.

A business decides to produce less of an item. Which of the following occurs?

The business is attempting to indirectly influence supply.

The business is directly influencing demand.

The business is attempting to indirectly influence demand.

The business is directly influencing supply.

Answers

Answer:

c

Explanation:

When Henry first began his real estate career, he focused on residential properties. As he gained more experience, he found that he really enjoyed helping business owners find warehouses for their products, or properties where they could conduct manufacturing activities. Of the primary categories of real estate, what types of properties does Henry handle

Answers

Answer:

I think it is wharehosues

Explanation:

wharehosues

Mark Green is considering buying a new Honda Accord. The purchase price of the car is $21,000 but Mark has a trade-in worth $4500. Mark needs a loan to buy the car and knows that his local bank requires him to put down 10% of the purchase price after the value of the trade-in is considered. Mark also knows that bank will charge 8% for the loan and require monthly payments over the next 4 years. What is the minimum down payment that Mark can make

Answers

Answer:

the minimum down payment that Mark can make is $1,650

Explanation:

The computation of the  minimum down payment that Mark can make is given below:

Purchase price $21,000  

Less: Trade In -$4,500

Net price $16,500

So, the down payment needed should be

= 10% of $16,500

= $1,650

Hence, the minimum down payment that Mark can make is $1,650

Etica, creatividad, compromiso, excelencia, integridad, credibilidad, pueden ser ejemplos de visiones.
Es VERDADERO O FALSO? . Si es Falso lo justificas.

Answers

Answer:si English?

Explanation:

On average, a person with a bachelor's degree earns
than a person
with an associate degree and
than a person with a master's
degree.

Answers

Answer:

More than a person with an associate degree and less than a person with a masters degree.

Explanation:

Which of these can lower the amount of monthly payments on a mortgage?
Insurance
Down payment
Property taxes
Collateral

Answers

Answer:

I think that the answer is collateral

Collateral is the item that can lower the amount of monthly payments on a mortgage.

What is collateral?

Collateral refers to item owned by a borrower, which is used as a guarantee that loan taken will be repaid.  It is an asset that a borrower offers to a lender as a promise that the payment of the loan will be repaid as agreed.

It is important to note that collateral is used to secure loan incase a borrow does not pay back the loan taken.

Hence, collateral is the one that can lower the amount of monthly payments on a mortgage.

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Which of the following is a direct financial interest? An interest where the individual is not the record owner but has a right to some or all of the underlying benefits of ownership

Answers

Answer: One owned directly by the covered member (even if managed by others.

Explanation:

A direct financial interest refers to the financial interest which is owned directly by an individual, under the control of an individual or beneficially owned through the investment vehicle.

A direct financial interest is one that is owned directly by the covered member (even if managed by others). Direct financial interest simply implies the ownership or the part ownership of a business, and this includes stocks, bonds, lands etc.

Hey y'all...

Can you guys help!!

How is foreign employment protectional /development board supportive to the foreign employment?

Use your own language!!

Thanks!!​

Answers

Answer:

The development objective of the project is to contribute to poverty reduction in Nepal, through reducing the vulnerability of Nepalese migrant workers to forced labour and trafficking, and increasing opportunities for safe and productive migration for employment overseas.

The development objective of the project is to contribute to poverty reduction in Nepal, through reducing the vulnerability of Nepalese migrant workers to forced labour and trafficking, and increasing opportunities for safe and productive migration for employment overseas

ASAP PLEASEEE!!! If the price level were to rise from 160 to 200, in what direction and by how much would the value of a dollar change?

Answers

Answer:

- Downward direction

- The change in dollar value is 0.00125

Explanation:

Given

[tex]P_1 = 160[/tex]

[tex]P_2 = 200[/tex]

Required

Direction and value of dollar change

Value is calculated using

[tex]V = \frac{1}{P}[/tex]

When [tex]P_1 = 160[/tex], the value is:

[tex]V_1 = \frac{1}{160}[/tex]

[tex]V_1 = 0.00625[/tex]

When [tex]P_2 = 200[/tex], the value is:

[tex]V_2 = \frac{1}{200}[/tex]

[tex]V_2 = 0.005[/tex]

So, we have:

[tex]V_1 = 0.00625[/tex]

[tex]V_2 = 0.005[/tex]

Notice that [tex]V_1 > V_2[/tex]

i.e. the initial value is greater than the new value

Hence, the value of dollar moves down

The change in value is:

[tex]\triangle V = |V_2 - V_1|[/tex]

[tex]\triangle V = |0.005 - 0.00625|[/tex]

[tex]\triangle V = |- 0.00125|[/tex]

Remove absolute sign

[tex]\triangle V = 0.00125[/tex]

The change in dollar value is 0.00125

When money is used in a trade instead of the direct exchange of goods, it acts as a __________.

Answers

Answer:

bartar system

Explanation:

Barter is a system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money. It is distinguishable from gift economies in many ways; one of them is that the reciprocal exchange is immediate and not delayed in time.

When money is used in a trade instead of the direct exchange of goods, it acts as a Barter system.

What is Barter System?

The Barter System is the name given to a transaction in which two or more parties exchange equal-value products and services without the use of money.

Even though it is one of the oldest forms of commerce, people and businesses still use it to order products and services when they do not have enough cash or money to make purchases. A form of exchange called barter allows for the direct exchange of one commodity or service for another without the need of a medium of exchange like money. It differs from gift economies in a number of ways, one of which is that the reciprocal transaction takes place right away rather than later.

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Your friend Reggie needs to write a resume and asked for your help. In at least 150 words, create a guide for Reggie. What are the essential parts of the resume? What will he need to include? What will he need to avoid? Include information about how he should organize.

Answers

Answer:

Name

Address

Contact Number

Objective

Work Experience

Extra Curricular Activities

School Graduated

Referral

Signature

Explanation:

Simple steps in making a Resume

When interest is accrued on a note payable, but not paid, the A. Interest Expense account is increased; the Interest Payable account is decreased. B. Notes Payable account is increased; the Interest Payable account is increased. C. Interest Expense account is increased; the Interest Payable account is increased. D. Interest Expense account is decreased; the Interest Payable account is increased.

Answers

Answer:

C. Interest Expense account is increased; the Interest Payable account is increased.

Explanation:

A secured interest can be defined as a legal right granted by a borrower to a lender (creditor) over a collateral (the borrower's property) which permits or allow the lender to have a right to possess the property as soon as the lender defaults in making payment. The payment which is expected to be made by the borrower of a mortgage loan is considered a secured obligation because it is a lien or an enforceable legal claim.

When interest is accrued on a note payable, but not paid, the Interest Expense account is increased; the Interest Payable account is increased.

The actions that top executives should take to lead the strategy execution process include Multiple select question. rewarding employees for performing their assigned duties. knowing what's going on at all levels of the organization. helping employees execute strategy successfully. making sure results are strategy-oriented.

Answers

Answer:

helping employees execute strategy successfully.

knowing what's going on at all levels of the organization.

making sure results are strategy-oriented.

Explanation:

The actions where the top executives result in the strategy execution process  involves the employees for helping to execute the strategy in a successful manner. Also we are aware what things are going on at all levels i.e. top, middle and bottom. In addition to this, the results that comes should be strategy-orinted

Therefore the above 3 statements should be considered

Machvile Corporation, a robotics company, decides to acquire Chancera Inc., a start-up company that operates within the same industry. To better assess its decision, the management of Machvile Corporation needs to find out the value of Chancera Inc.'s total assets. The management has information regarding Chancera Inc.'s liabilities and stockholders' equity. In this scenario, the management should most likely use the _____ to get the required information.

Answers

Answer: Accounting equation

Explanation:

The accounting equation is a proposition or formula that accesses a company's assets by summing up it's equity and liabilities. It means that the equity of a company would equal it's assets minus liabilities.

Machvile Corporation can access properly the worth of Chancera Inc.'s by using the Accounting equation, weighing their assets and leaving out their liabilities.

ABC International sells a machine for $35,000 in cash on December 31, 2019. Initially this asset was purchased on 01 January 2013 for $100,000 with the estimated useful life of 10 years. Please prepare the journal entry and supporting calculations for this asset sale transaction.

Answers

Answer:

$1000023033500

Explanation:

100000*35000

The United States Food and Drug Administration requires manufacturers of processed foods to publish nutrition information on the packaging at a considerable cost to the firms. How does this requirement affect economic​ efficiency? A. It moves the market toward economic efficiency because the additional information represents a positive externality that the FDA is forcing firms to internalize. B. It moves the market toward economic efficiency by reducing the market failure caused by a lack of​ information, enabling consumers to make better informed decisions regarding nutrition. C. It moves the market away from economic efficiency because the additional cost of​ labeling, which is not accounted for in the market​ price, creates a market failure. D. It moves the market away from economic efficiency because the additional cost of labeling adds little value but raises the price of food above marginal cost.

Answers

Answer:

A. It moves the market toward economic efficiency because the additional information represents a positive externality that the FDA is forcing firms to internalize.

Explanation:

The US food and drug administration needs to follow some standard procedure such as the placing of labels and identifying marks on the products so as to provide additional information to the consumers and clients. This helps both consumers and the company by setting up goodwill and enhances their productivity.

The assumption that preferences are complete: Group of answer choices means that a consumer will spend her entire income. means that the consumer can compare any two market baskets of goods and determine that either one is preferred to the other or that she is indifferent between them. is unnecessary, as long as transitivity is assumed. recognizes that there may be pairs of market baskets that cannot be compared.

Answers

Answer:

means that a consumer will spend her entire income. means that the consumer can compare any two market baskets of goods and determine that either one is preferred to the other or that she is indifferent between them

Explanation:

In the case when the presumption is to be considered as completed means that the consumer would able to spend her overall income. That means the consumer could compared any kind of two markets for the goods and measures which one is to be preferred over the other or it is indifference between them

So as per the given situation, the first option is correct

Stabilisation is an important factor of

Answers

Answer:

to prerequisite of economic growth...........

if my answer helps you than mark me as brainliest

Assume that Heather always maximizes her total utility given her budget constraint. Every morning for breakfast Heather has two eggs and three sausages. If the marginal utility of the last egg is 20 utils and the price of eggs is $2 each, what can we say about the marginal utility of the last sausage if the price of each sausage is $1

Answers

Answer: 10 units

Explanation:

The marginal utility per dollar spent on the last egg should be equal to the marginal utility per dollar spent on the last sausage.

Marginal utility per dollar spent on last egg = Marginal utility / Price of egg

= 20 / 2

= 10 units per dollar

Marginal utility per dollar spent on last sausage = Marginal utility / Price of sausage

10 = Marginal utility / 1

Marginal utility = 10 units

A lease provides that a retail tenant pays $900 minimum rent per month plus 3% of the gross sales in excess of $200,000 per year. If the tenant paid a total rent of $20,520 last year, what was the gross sales volume

Answers

Answer:

45,650

Explanation:

The gross sales volume was $45,650.

What was the gross sales volume?

The entire quantity of incoming income throughout a specific time frame.

Gross sales are discussed with the grand overall of all income transactions over a given time period. this doesn't encompass the cost of income or deductions

sales volume refers to the number of units your corporation sells at some point of a selected reporting duration. this era may be a month, a quarter, or a year relying on what degree of sales extent you are in search of to research. buyers often study sales volume to assess the fitness of a developing or contracting business enterprise.

To calculate gross sales, upload the total income revenue for a specified time period—monthly, quarterly, or annually.

The minimum rent per month is $900.

gross sale percentage =  3%

The tenant paid a total rent of $20,520 last year.

The gross sales volume = $45,650.

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Adams, a general contractor, Brinks, an architect, and Carson, an interior decorator, formed the Dex Home Improvement General Partnership by contributing assets as follows: Fair % of Partner Share Adjusted Market in Capital Asset Basis Value Profits and Losses Adams Cash $40,000 $40,000 50% Brinks Land $12,000 $21,000 20% Carson Inventory $24,000 $24,000 30% The land was a capital asset to Brinks, subject to a $5,000 mortgage, which was assumed by the partnership. Brinks' initial basis in Dex is:

Answers

Answer:

8,000

Explanation:

Calculation to determine what Brinks' initial basis in Dex is:

Carryover Basis of Land Contributed by Brinks $12,000

Less Mortgage Assumed by the Partnership ($5,000)

Add Mortgage percentage Kept by Brinks $1,000

(.20 x $5,000)

Brink's Initial Basis $ 8,000

($12,000-$5,000+$1,000)

Therefore Brinks' initial basis in Dex is: $8,000

Wolfe Company purchased a truck for $62,000, with an estimated useful life of 8 years and a salvage value of $10,000. The company uses the double-declining-balance method of depreciation; however, after year 3 they switch to the straight-line method. There is no change to the estimated useful life or salvage value. What is the accumulated depreciation balance at the end of year 5 (round to the nearest dollar)

Answers

Answer:

$42306

Explanation:

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life) = 2/8

Depreciation expense in year 1 = 2/8 x 62,000 = 15500

Book value at the beginning of year 2 = 62,000 - 15500 = 46500

Depreciation expense in year 3 = 2/8 x 46500 = 11625

Book value at the beginning of year 3 =46500 - 11625 = 34,875

Depreciation expense in year 3 =34,875 x 2/8 = 8718.75

Book value at the beginning of year 4 = 34,875 - 8718.75 = 26156.25

Straight line depreciation expense = (book value of asset - Salvage value) / useful life

26156.25 - 10,000 / 5 = 16156.25 / 5 = 3231.25

Depreciation expense for the remaining 2 years =  3231.25 x 2 = 6462,50

total depreciation = sum of year 1 to 5 depreciation = 6462,50 + 15500 + 11625 + 8718.75 = $42306

Abba, Inc. is considering dropping a product line. During the prior year, the line had sales of $207,000 and a contribution margin of $124,000. Fixed expenses consist of: Salaries $60,000 Rent 50,000 Advertising 20,000 Administrative 35,000 Total fixed expenses $165,000 The product line manager's $60,000 salary is avoidable as is the $20,000 of advertising. Of the administrative expenses, $10,000 is avoidable. The rest are general allocated expenses that will not change if the product is dropped. The rent expense is allocated to product lines based on sales and represents a share of the total cost for the building. If this product line is dropped overall net operating income will:

Answers

Answer:

Overall net income will decrease by $34,000.

Explanation:

Calculation to determine net operating income

Using this formula formula

Net operating income=Contribution margin -Avoidable costs

Where,

Contribution margin =$124,000

Avoidable costs= Salaries $60,000

+Advertising $20,000+Administrative expenses $10,000

Let plug in the formula

Net operating income=$124,000-($60,000+$20,000+$10,000)

Net operating income=$124,000-$90,000

Net operating income=$34,000 Decrease

Therefore If this product line is dropped overall net operating income will:decrease by $34,000

Historically, investments in the ________ have experienced the greatest returns.

Bond market
Real estate market
Stock market
Money market

Answers

Answer:

C. Stock market.

Explanation:

Stock market have experienced the greatest returns, even tho they are long term. ♥

Feel Good Inc. is a multinational sports goods manufacturer that uses a different strategy in each of its subsidiaries and operations. Moreover, all decision-making is decentralized, which leaves the company open to the threat of opportunistic behavior. Since the expatriate managers do not rely on headquarters expertise, there is also an asymmetry in the transfer of information and specialized knowledge. In the context of the four international strategies proposed by Bartlett and Ghoshal, Feel Good Inc. uses a(n) _____.

Answers

Answer:

multidomestic strategy.

Explanation:

It is correct to state that in the context of the four international strategies proposed by Bartlett and Ghoshal, Feel Good Inc. uses a multi-domestic strategy, which occurs when a company uses several different marketing strategies according to the location where it operates.

Feel Good Inc uses a multi-domestic strategy because the statement tells us that the company uses a different strategy in each of its subsidiaries and operations, and that decision-making is decentralized.

This strategy can be advantageous for adapting the marketing campaign to the needs and desires of a specific target audience in a place. To be effective, market research, population study and market segmentation must be carried out.

Erosion can be described as the _____________________. Multiple Choice expenses that have already been incurred and cannot be recovered change in net working capital related to implementing a new project cash flows of a new project that come at the expense of a firm's existing cash flows alternative that is forfeited when a fixed asset is utilized by a project differences in a firm's cash flows with and without a particular project

Answers

Answer:

washing away of the top most layer of the Earth surface

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An apple, potato, and onion all taste the same if you eat them with your nose plugged Find the principle that yields and interest of Rs.2240 at the rate of 10% p.a. in a years 6 months. Tammy is talented at craft but lacks the cash flow management skills required to run a business. She opens a store, Tammy's Craft Corner, with the help of her son David - a business major - who manages the budgets and expenses of the business. David prepares the quarterly budget and maintains a company book for recording all transactions. The company book balance that David regularly updates is the sum of: simplify each expression below. Compare your answers with your classmates answers. Which of the following statement is correct regarding the design concept of emphasis? A. A room should not have more than on focal pointB, Generally a focal point should be visible from the entrance to a room.C. A focal point can't be established in a setting where formal balance is usedD. Focal points in a room is architecture must be emphasize with contrasting colors. how do you feel about yourself as a responsive citizen The sets A and L are given below.A = (a, b, e}L={c, k,j}Find the intersection of A and L.Find the union of A and L.Write your answer using notation (in roster form)Help plzzz Select the correct text in the passageWhich detail best characterizes the narrator in the excerpt?excerpt from A Journey to the Center of the Earthby Jules VerneBut my uncle was not a man to be kept waiting so adjourning therefore all minor questions, I presented myself before him.He was a very learned man. Now most persons in this category supply themselves with information, as peddlers do with goods, for the benefit ofothers, and lay up stores in order to diffuse them abroad for the benefit of society in general. Not so my excellent uncle. Professor Hardwigg hestudied, he consumed the midnight oil, he pored over heavy tomes, and digested huge quartos and folios in order to keep the knowledge acquiredto himself.There was a reason, and it may be regarded as a good one, why my uncle objected to display his learning more than was absolutely necessary; hestammered; and when intent upon explaining the phenomena of the heavens, was apt to find himself at fault, and allude in such a vague way tosun, moon, and stars that few were able to comprehend his meaning. To tell the honest truth, when the right word would not come, it wasgenerally replaced by a very powerful adjective.As I said, my uncle, Professor Hardwigg, was a very learned man; and I now add a most kind relative. I was bound to him by the double ties ofaffection and interest. I took deep interest in all his doings, and hoped some day to be almost as learned myself. It was a rare thing for me to beabsent from his lectures. Like him, I preferred mineralogy to all the other sciences. My anxiety was to gain real knowledge of the earth. Geologyand mineralogy were to us the sole objects of life, and in connection with these studies many a fair specimen of stone, chalk, or metal did we breakwith our hammers.ResetNext Selling frozen yogurt at a fair, you make $565 and use 250 cones. A single-scoop cone cost $2 and a double-scoop cone cost $2.50. How many of each type of cone did you sell? please help me with this is a hair tie a good example for the cytoplasm since a hair tie holds your hair together as the cytoplasm does to the rest of the organelles? what is the external angle of a polygon where the corresponding interior angle equals 105 degrees explain four contributory factors to unemployment Why are fungi more like animals than plants?PLEASE HELP ME Find out which language is this If i work in a week 2 days cleaning and i will work 4 hours in a day and in 1 hour is 8$ how much will it be in a year Geometry, please answer question ASAP Find the value of the trigonometric ratio. sin A the ness company sells $5,000,000 of five-year, 10% bonds at the start of the year. the bonds have an effective yield of 9%. present value factors are below: The amount of bond premium amortization for Year 2 is: For the past two weeks, Manuel has been studying for an upcoming psychology exam. Even though he read the textbook carefully every day while studying, during the exam, he could not recall the material regarding how psychologists studied the mental processes of memory. Manuel most likely experienced a problem in the ________ process of memory.