The determination of the National Distributing Company's cost percentage under the gross profit method of estimating ending inventory and the cost of goods sold is 70%.
What is the gross profit method?Under the gross profit method, the cost of ending inventory and the cost of goods sold are estimated in each by following the following steps:
Add the cost of beginning inventory to the cost of purchases during the period to arrive at the cost of goods available for sale.Multiply (1 - expected gross profit percent, if given) by sales during the period to arrive at the estimated cost of goods sold.Otherwise, if you have the estimated cost of goods sold, you can use the figure to work out the gross profit percentage. Then work out the ending inventory by subtracting the cost of goods sold from the cost of goods available for sale.Data and Calculations:Net Purchases for August = $43,000
National Distributing Company
Income StatementsFor the months ending August 31, 2021, and July 31, 2021:
August July
Net sales $60,000 $50,000
National Distributing Company
Balance sheetsAt August 31, 2021 July 31, 2021
Assets: August July
Merchandise inventory $35,000 $34,000
Cost of goods available for sale for August:
Beginning inventory (July) $34,000
Purchases 43,000
Cost of goods available $77,000
Ending inventory (35,000)
Cost of goods sold $42,000
Company's cost of goods sold percentage = 70% ($42,000/$$60,000 x 100)
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You have been at fault in your second accident in six months. your insurance company is going to increase your annual premium by 28%. your current annual premium is $975. what will your adjusted premium be?.
Your adjusted premium based on a current annual premium of $975, increased by a 28% penalty for being at fault in the second accident in six months, is $1,248.
What is the annual premium?The annual premium is the amount that a policyholder pays to the insurance company for a one-year insurance policy.
The annual premium helps to guarantee payment of indemnity when the covered events occur.
This implies that the annual premium is a periodic contribution that helps in the pooling of risks by the insured to help the insurer meet its indemnity obligations.
Data and Calculations:Current annual premium = $975
Increase in annual premium = 28%
Adjusted premium = $1,248 ($975 x 1.28)
Thus, the adjusted premium based on a current annual premium of $975, increased by a 28% penalty for being at fault in the second accident in six months, is $1,248.
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What would be the best reason for the United States to provide military aid to another country? to protect an established alliance to improve the other nation’s reputation to help the other country gain greater power to result in a new trade agreement or alliance.
Answer: A protect an established alliance
Explanation:
that’s the answer on Ed2022
The best reason for the United States to provide military aid to another country is to protect an established alliance.
What is the reason the US providing military aid to other nations?The US wants to give security to other nations and establish its supremacy among the nations. It shows its power to big nations by collaborating with small nations.
Therefore, the US form an alliance with these nations and get their support by involving in trading and other economic agreements with them.
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What is systematic risk? Multiple choice question. It is a risk that is caused by failure of the internal control system of a corporation. It is a risk that increases in a systematic, gradual fashion. It is a risk that affects only one or a few assets. It is a risk that pertains to a large number of assets.
Systematic risk is D. It is a risk that pertains to a large number of assets.
What is systematic risk?It should be noted that systematic risk simply refers to the risk that's inherent to the entire market.
In this case, systematic risk is the risk that pertains to a large number of assets. It is also known as volatility.
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_____ adjust vehicle ratings to reflect just those individuals who match the advertiser’s target audience.
Answer:
Target Rating Points adjust vehicle ratings to reflect just those individuals who match the advertiser’s target audience.
Explanation:
Target Rating Points (TRPs) are a refinement of gross rating points, or GRPs. GRPs relate to the "total audience" exposure to advertising messages, whereas TRPs relate to the "target audience" exposure.
-Justin :)
Building, maintaining and strengthening beneficial relationships with suppliers and customers is accomplished through the use of: a. External process integration b. Data warehouses c. Expediting d. All of these choices are correct.
Building, maintaining and strengthening beneficial relationships with suppliers and customers is accomplished through the use of: a. External process integration.
External process integration can be defined as the process in which suppliers build and maintain a long lasting relationship with their customers.
External process integration is important as it enables suppliers to improve the quality of services rendered to their customers and it as well help them to save cost and time.
Inconclusion Building, maintaining and strengthening beneficial relationships is accomplished through the use of: a. External process integration.
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All companies operate in a broad ______-environment that is made up of six components, including political factors and technological factors. Multiple choice question. micro meso para macro
Answer:
The word that is underlined, that's the answer; Macro
Explanation:
hope this helps.
Answer:
the answer is macro .
Explanation:
MARK ME AS A BRIANLIESTWhat system is based on the supply and demand of goods to make a profit?.
Answer:
B : market economy
Explanation:
Which statement describes what this graph indicates about government spending? the government spends less than it receives year over year. the government should produce more money to cover spending. the government on average spends more than it collects. the government needs to lower taxes to cover spending.
The government spending graph indicated that
the government on average spends more than it
collects.
What is Government Spending?Government Spending serves as the public expenditure on goods as well as services which can be seen as a major component of the GDP.
Therefore, it can be concluded that the government spending graph let us know that the government spend more.
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When costs to purchase inventory are rising, using LIFO leads to reporting ______ cost of goods sold and ______ net income than FIFO.
When costs to purchase inventory are rising, using LIFO leads to reporting lower cost of goods sold and higher net income than FIFO.
LIFO and FIFOLIFO means last in last out while FIFO represent first in first out. In a situation were price of goods and service are falling using LIFO tend to assume that the newer and less expensive inventory is sold out first.
This tend to lead to lower cost of goods sold and higher net income.
Inconclusion when costs to purchase inventory are rising, using LIFO leads to reporting lower cost of goods sold and higher net income than FIFO.
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After 7 years of working for a company that installed underground sprinkler systems for homeowners, terrance was ready to venture into his own business. As he prepared his swot analysis, he evaluated where he stood at this time. He was fortunate to have $120,000 financing to get the business under way. He knew of three skilled installers who were willing and interested to work for him, and he was aware that new construction was at an all-time low, with several residential properties being foreclosed. In reviewing his list, you would categorize these events as.
In reviewing his SWOT analysis, Terrance, who was ready to venture into his own business after working for 7 years as an underground sprinkler installer, has two strengths and one threat.
What is a SWOT analysis?A SWOT analysis is a framework for analyzing a company's competitive position to enable the development of competitive strategies.
A SWOT analysis includes Strengths, Weaknesses, Opportunities, and Threats.
Thus, for Terrance, he has two strengths ($120,000 financing and three skilled installers who were willing and interested in working for him) and one threat (low construction activities) with increasing foreclosures.
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How do trade agreements of international organizations affect trade? by incentivizing the development of trade policies by eliminating tariffs and taxes on imports and exports by encouraging countries to provide open access to trade by helping smaller countries compete in the world market.
One way in which trade agreements by international organizations affect trade is by encouraging countries to provide open access to trade.
How do International Organizations affect trade?International organizations agree to treaties with nations that encourage those nations to allow free access to trade.
This ensures that more trade happens because people and nations would be free to import and export which would increase trade volumes as people take advantage.
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Answer: C. by encouraging countries to provide open access to trade
Explanation:
right on edge 2022
what are the two factors that go into which item is thought of as bought first, etc., when choosing between several possible purchases.
Answer:
Fifo
Explanation:
Because the stock that is bought first should be the one to be purchased first
In+a+survey+conducted+on+an+srs+of+200+american+adults,+72%+of+them+said+they+believed+in+aliens. +give+a+95%+confidence+interval+for+percent+of+american+adults+who+believe+in+aliens
Based on the size of the sample, the 95% confidence interval for American adults who believe in aliens is (0.6577719, 0.7822281).
What is the confidence interval?With a 95% interval, we can find the Z score using the Z table to be 1.96.
The 95% interval here would therefore be:
Lower limit:
= (Proportion that believes in Aliens - 1.96 x √((Proportion that believes in aliens x Percentage that doesn't)) / Sample size
= 0.72 - 1.96 x √((0.72 * 28) / 200)
= 0.6577719
Upper limit:
= 0.72 + 1.96 x √((0.72 * 28) / 200)
= 0.7822281
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Caspion Corporation makes and sells a product called a Miniwarp. One Miniwarp requires 6.5 kilograms of the raw material Jurislon. Budgeted production of Miniwarps for the next five months is as follows:
August 23,000 units
September 21,700 units
October 23,100 units
November 24,300 units
December 24,000 units
The company wants to maintain monthly ending inventories of Jurislon equal to 20% of the following month's production needs. On July 31, this requirement was not met since only 11,200 kilograms of Jurislon were on hand. The cost of Jurislon is $22 per kilogram. The company wants to prepare a Direct Materials Purchase Budget for the next five months.
The total cost of Jurislon to be purchased in August is:_______.
Assuming the company wants to prepare a Direct Materials Purchase Budget for the next five months. The total cost of Jurislon to be purchased in August is:$3,663,220.
Total costUsing this formula
Total cost=(Desired ending inventory+ Required for production-Ending inventory)×Rate per kilogram
Total cost=[(21,700×6.5×20%)+(23,000×6.5)-11,200]×$22 per kilogram
Total cost=(28,210+149,500-11,200)×$22 per kilogram
Total cost=166,510×$22 per kilogram
Total cost=$3,663,220
Inconclusion the total cost of Jurislon to be purchased in August is:$3,663,220.
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What element of the marketing mix has a unique role in that it is the place where all other business decisions come together?.
The element of marketing mix that has a unique role in that it is the place where all other business decisions come together is known as Place
What is marketing mix?The marketing mix relates to the collection of steps or strategies employed to sell the brand or commodity on the market by an company.
Elements of marketing mix include:
PlacePricePromotionProductHence, the element of marketing mix that has a unique role in that it is the place where all other business decisions come together is known as the place.
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Financial incentives given by the government to corporations, individuals, or other governments for the purpose of encouraging certain activities or behaviors are ______.
a. Grants
b. Entitlements
c. Welfare programs
d. Subsidies
Answer:
It os D, subsidies. this is correct.
_______________ is the degree to which decision-making authority is retained at higher managerial levels a. Formalization b. Unification c. Centralization d. Specialization
There are various organizations structure. one of it is centralization. Centralization is the degree to which decision-making authority is retained at higher managerial levels.
Features of CentralizationIn a centralized company, cogent decisions are made at topmost levels of the hierarchy, whereas in decentralized companies, decisions are made and problems are solved at lower levels by employees who are closer to the problem.
Advantages of centralizationSome employees are more okay in an organization where their manager authoritatively gives instructions and makes decisions. Centralization can also lead to operational efficiency because there will be no time wasting, particularly if the company is operating in a stable environment. Strategic process and content as mediators between organizational context and structure.
Therefore, the answer is centralization option C.
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Employee ________ are perks that are provided in addition to salaries and wages, such as all or part of medical, dental, life and disability insurance.
The perks that are provided in addition to salaries and wages, such as all or part of medical, dental, life, and disability insurance are known as Employee Benefits.
What are Employee Benefits?Employee benefits are benefits that include all types of nonwage compensation that are given to employees in addition to their normal wages and salaries.
These benefits cover a lot of things including transportation, group life insurance, medical benefits, and even disability insurance. These are perks that are added to the normal wage of an employee.
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What is the purpose of establishing economic sanctions? to enter into an alliance with a country to honor the terms of a trade agreement to pressure a nation to change its policies to provide financial aid to a nation in need
The purpose of establishing economic sanctions is to pressure a nation to change its policies.
What is economic sanction?Economic sanction refers to the states use economic pressure (trade and financial restrictions) against other states to create policy or behavioral change.
Various international bodies like UN, NATO uses economic sanctions against nations whose policy is against international agreeable standards.
Hence, the purpose of establishing economic sanctions is to pressure a nation to change its policies.
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Answer:
c
Explanation:
Darren has borrowed $100$ clams from ethan at a $10\%$ simple daily interest. meanwhile, fergie has borrowed $150$ clams from gertie at a $5\%$ simple daily interest. in how many days will darren and fergie owe the same amounts, assuming that they will not make any repayments in that time period?
Answer:
20
Explanation:
start doing math
In 20 days Darren and Fergie owe the same amounts.
What is simple interest?simple interest is primarily based on the primary quantity of a or the primary deposit in a savings account. simple interest does not compound, which means that a creditor will best pay interest on the main amount and a borrower could by no means pay extra interest at the previously gathered interest.calculation:-
10% is on $100 is = $10
5% SI on $150 = $7.5
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Terrel is designing and maintaining a web page for a local company. In which career pathways would Terrel be involved?
Programming and Software Development, and Network Systems
Network Systems and Interactive Media
Information Support and Services, and Programming and Software Development
Interactive Media, and Information Support and Services
Answer:
C. Information Support and Services, and Programming and Software Development
Explanation:
I got it right on edge. trust me.
Answer:
C. Information Support and Services, and Programming and Software Development
Explanation:
Edge
References that employers trust for the most accurate reporting include _____. a. friends b. relatives c. counselors d. parents please select the best answer from the choices provided a b c d
Counselors are one of the references that employers trust for the most accurate reports. As a result, option (c) is the proper response.
Which are considered the most-trusted references by the employer?Counselors are one of the references that employers trust for the most accurate reports.
Employers do not trust the friends, relatives, and parents of prospective employees or employees to provide an accurate report because they believe they are not professional enough and that because of their proximity to the employee, they may provide false information in order to benefit the employee.
Employers view counselors as more professional and more likely to provide accurate information.
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Undue influence cases often involve a relationship of trust and confidence between the contracting parties.
a. True
b. False
Dane is a single father with one qualifying dependent child. He has AGI of $154,000 and paid $9,100 to a qualified day care center for the two children. What amount of child and dependent care credit can Dane receive in 2021? Multiple Choice $0. $2,800. Incorrect $8,000. $9,600
Because Dane is a single father with one qualifying dependent child, the child and dependent care credit will be $8,000.
What is the child and dependent care credit?This is a tax benefit that is made for qualifying persons that provide care for someone else.
The child and dependent care credit is for up to of $8,000 in qualified expenses for a qualifying child, and up to $16,000 for two or more children.
Hence, because Dane is a single father with one qualifying dependent child, the credit will be $8,000.
Therefore, the Option D is correct.
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Describe two places where you have seen dimensioned drawings. explain why the dimensions were needed for both situations.
Answer:
house plans and building a car
Explanation:
Differentiate between the scheduling techniques known as CPM and PERT
Debts and obligations of a business are referred to as:.
Answer:
Liabilities
Explanation:
Liabilities are the debts and obligations that a business owes.
Which ics functional area arranges for resources and needed services.
The ICS functional area that arrange for resources and needed services is known as logistics.
What is ICS?ICS is an acronym for Incident Command System. It is a management system designed to enable effective and efficient domestic incident management.
The five major ICS functional areas are:
CommandOperationsPlanningLogisticsFinance/administration.Hence, Logistics as an ICS functional area is responsible for arranging for resources and needed services to support achievement of the incident objectives.
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Knowing the educational requirements for a job you are interested in is very important. For example, to become a doctor would require you to go to school for many years, but to become a carpenter would require you to complete a specialized program through a trade school.
In the space below, write 2 to 3 sentences explaining why knowing the educational requirements for a job you are interested in is important.
Answer: It is very important because you need to be prepared to invest the time and money necessary to gain the required skills.
Explanation:
Use your knowledge of the leadership grid to select the correct management style for each description.
The most appropriate management style for description A would be Country Club Management because they are related in different ways.
What is leadership grind?Leadership grind is a text published in 1964 by Robert Blake and Jane Mouton. In this text, forms of management are classified as a tool for company managers to develop a management style.
One of the management styles proposed in this book is the country club manager, who is characterized by focusing his concern on the people who make up his work group, not worrying about production. This produces a comfortable work environment with poor performance.
Based on the foregoing, the most appropriate style for description A. would be Country Club Management, since it would foster a good work environment without looking at the team's results.
Note: This question is incomplete because there is some information missing. Here is the complete information:
A. Thoughtful, attention to people's needs for satisfying relationships leads to a comfortable and friendly organizational atmosphere and work pace.
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