The process of checking and testing products to ensure that they meet specifications is called e. quality control.
Quality control is a systematic approach used by organizations to monitor and evaluate the quality of their products or services. It involves various activities and techniques aimed at detecting and preventing defects or deviations from specified standards. During the quality control process, products are inspected, tested, and evaluated against predetermined criteria or specifications. This may involve conducting physical inspections, performing measurements, running tests, and analyzing samples. The objective is to identify any issues or non-conformities and take corrective actions to ensure that the products meet the desired quality level. Quality control helps organizations maintain consistency, reliability, and customer satisfaction by identifying and addressing quality problems before products are delivered to customers. It plays a vital role in ensuring that products meet the required standards and specifications, minimizing defects, and maximizing overall product quality.
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Company F has $1,000,000 of 10% 30 year bonds outstanding with a current yield of 10.5%. The company refinances all $1,000,000 to a 7% rate. Assuming a marginal tax rate of 40%, what is the annual increase to Company F's net income
The annual increase to Company F's net income is $18,000.
Solution-
When Company F refinances a 10% bond to 7% it realizes an annual interest savings of :
=3% x $1,000,000 = $30,000.
Company F will be required to pay additional taxes on this savings, so the after-tax impact to net income = $30,000 x (1 - tax rate)
net income = $30,000 x 60% = $18,000.
The current yield is not relevant to this question.
What is Net Income?Net income is the profit after all of a company's expenses have been subtracted from revenues. It represents the earnings available to shareholders after all obligations (e.g. debt, payable to vendors, etc.) have been paid. EBITDA is a widely used proxy for operating cash flow as it reflects the company's total cash operating costs for producing its products and services. Gross Profit is defined as sales less cost of goods sold (COGS). Sales is the first line item on an income statement.
Hence, The annual increase to Company F's net income is $18,000.
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Verifying a backup is also called _______________
Verifying a backup is also known as backup testing.
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Carol Byrd gets a student rate of $30.00 a month for health insurance. There is a $250 deductible. She recently received treatment for a covered condition. The bill was $2,300. Carol's insurance company provided payment of 80% of the bill less the deductible. If applicable, include a thousands comma and round each amount to the nearest dollar. What was the company's payment
The company's payment = $1640,
Carol's total cost = $410.
Step-by-step
Given:
Bill amount = $2300
Amount of deductible = $250
Remaining amount is given by:
=$2300-$250
=$2050
Since Carol's insurance company provided paid 80% of the bill less the deductible.
So, the Company's Payment is given by:
Company Pays 80% which translates to 0.8
Company Payment = 0.8*2050
Company Payment = $1640
Carol's total cost after the payment of company is given by
Carol pays = $2050 - $1640
Carol pays = $410
Hence, the company's payment was $1640, Carol's total cost was $410.
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What is the after-tax cost of debt for a firm with pre-tax cost of debt equal to 10% and a tax rate of 40%?.
The after-tax cost of debt for a firm with a pre-tax cost of debt is equal to 10% and a tax rate of 40% is 6%.
How Much Does Debt Cost?The effective interest rate that a business pays on its debts, such as bonds and loans, is known as the cost of debt. The cost of debt may be expressed as either the before-tax cost of debt, which is the amount owed by the business before taxes, or the after-tax cost of debt. The fact that interest expenses are tax deductible accounts for the majority of the difference between the cost of debt before and after taxes.
How is the after-tax cost of debt determined?
The initial cost of debt is the first cost of debt with the impact of the additional income tax rate taken into account. It is calculated by deducting the company's incremental tax rate from 100% and multiplying the result by the debt's interest rate. The equation is:
Debt service costs before taxes (100 percent - incremental tax rate)
= Debt's after-tax cost
Calculation:
10% * (100% - 40%)
= 6%
Therefore, the after-tax cost of debt for a firm with a pre-tax cost of debt is equal to 10% and a tax rate of 40% is 6%.
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Two necessary expenditures which are leading inflationary indicators are _________. a. Housing and lawn design b. Clothing and fashion c. Televisions and cable rates d. Food and gasoline Please select the best answer from the choices provided A B C D
Two necessary expenditures which are leading inflationary indicators are d. Food and gasoline.
What are expenditures?An expenditure serves as payment either in cash with either cash or credit that is used in purchasing goods or services.
Out of the options, Two necessary expenditures which are leading inflationary indicators are d. Food and gasoline.
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If you look at average interest rates on savings accounts today, how do they compare with inflation?.
The average interest rates on savings account today compared to inflation shows that inflation is higher.
How are savings interest rates and inflation related?The current interest rates on savings accounts in the U.S. on average is about 0.08%.
Inflation on the other hand, is 9.1%. This shows that inflation massively outstrips the average savings interest rates.
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If labor in mexico is less productive than labor in the united states in all areas of production:____.
a. then neither nation can benefit from trade.b. then mexico can benefit from trade but the US cannot.c. then the united states will have a comparative adv relative to mexico in the production of all goods.d. then both mexico and the us still can benefit from trade.
If labor in Mexico is less productive than labor in the united states in all areas of production then both Mexico and us still can benefit from trade.
Labor is the amount of physical, mental and social effort spent to produce goods and services in the economy. We provide the know-how, human resources, and services necessary to turn raw materials into finished products and services.
A business that requires more people and fewer machines is known as a labor-intensive business. The beauty, home construction, education and fashion industries are examples of labor-intensive industries.
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An important customer showing up at a hotel that is fully booked and the reservation is missing would be placed in which category for managerial decision-making challenges?
An important customer showing up at a hotel that is fully booked and the reservation is missing would be placed in managers must make decisions quickly.
A business manager is a supervisor who directs and supervises the operations of an organization or department with employees. They strive to ensure that the company remains productive, efficient, and organized at all times by implementing operational strategies, conducting performance reviews, and overseeing all day-to-day activities.
Managers can lead teams and give them purpose and direction that employees can trust. It helps employees achieve their goals and manage the company's day-to-day production and processes. We also plan the next steps for managing projects and potential hires.
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Jonathan is interested in building the centerpiece of his firm's corporate governance, and so hires a ________ that is made up of individuals from both inside and outside the firm.
Jonathan is interested in building the centrepiece of his firm's corporate governance, and so hires a "Board of directors" that is made up of individuals from both inside and outside the firm.
What is a Board of directors?A board of directors is simply a group of people chosen by shareholders to serve as their representatives. While nonprofit organisations and many private firms may name a board of directors even though they are not legally obligated to, every public company is legally required to appoint one.
Functions of a Board of Directors are-
establishing dividend policiesDeveloping option policiesSenior executive hiring and firing (especially the CEO)determining executive compensationassisting managers and their teamskeeping up with business resourcessetting broad organisational objectivesensuring that the business has the resources necessary to be handled effectively.The bylaws of a business or organisation establish the structure, duties, and authority granted to a board of directors.
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To qualify as a pass-through entity for U.S. corporate income tax, a REIT must be all of the following EXCEPT
To qualify as a pass-through entity for U.S. corporate income tax, a REIT must be all of the following EXCEPT : Jointly owned by less than 100 persons.
What Is a Real Estate Investment Trust (REIT)?
A real estate investment trust (REIT) is a company that owns, operates, or finances income-generating real estate.
Modeled after mutual funds, REITs pool the capital of numerous investors. This makes it possible for individual investors to earn dividends from real estate investments—without having to buy, manage, or finance any properties themselves.
To qualify as a REIT, a company must comply with certain provisions in the Internal Revenue Code (IRC). These requirements include to primarily own income-generating real estate for the long term and distribute income to shareholders.
Specifically, a company must meet the following requirements to qualify as a REIT:
Invest at least 75% of total assets in real estate, cash, or U.S. TreasuriesDerive at least 75% of gross income from rents, interest on mortgages that finance real property, or real estate salesPay a minimum of 90% of taxable income in the form of shareholder dividends each yearBe an entity that's taxable as a corporationBe managed by a board of directors or trusteesHave at least 100 shareholders after its first year of existence Have no more than 50% of its shares held by five or fewer individualsTherefore, we can conclude that the correct option is D.
Your question is incomplete, but most probably your full question was:
To qualify as a pass-through entity for U.S. corporate income tax, a REIT must be all of the following EXCEPT
a.structured as a corporation, trust, or association.
b.have transferable shares or certificates of interest.
c.managed by a board of directors or trustees.
d.jointly owned by less than 100 persons.
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At the beginning of the year, Data, a C corporation, had a $45,000 deficit in accumulated earnings and profits. For the current year, Data reported earnings and profits of $15,000. Data distributed $18,000 to its shareholders during the current year. What amount of the distribution is treated as a taxable dividend
$15,000 is treated as a taxable dividend.
A corporation's distribution amount on its stock to it's shareholders will be the dividend distribution that is made with current earnings or profits or accumulated earnings or profits. In this question, $18,000 distribution would be a dividend to the extent of the $15,000 of the current period earnings or profits.
$45,000 deficit in its accumulated earnings and profits would begin the next year with the same amount amount because distribution does not increase a deficit.
Dividend income is taxable, but taxation varies depending on whether the dividend is eligible or ineligible. 1 Investors are usually drawn to dividend stocks and mutual funds because the return on investment (ROI) includes market appreciation in addition to dividends.
All dividends are taxable and all dividend income must be reported. This includes dividends that are reinvested to buy shares. If you received a dividend of at least $10 from a company, you should receive a Form 1099-DIV detailing the amount you received.
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Do you think that credit policy decisions are made more on the basis of numerical analyses or on subjective judgment
A process of accepting or denying credit based on the lender's discretion rather than on a specific credit score model is known as subjective credit analysis
Basis of numerical analyses or on subjective judgment?Using past interactions with applicants who are similar to the borrower, judgment is used in the credit analysis to assess the borrower's application and determine credit approval. This method for determining approvals does not use any algorithms or empirical methods. Credit policy decisions are made more on the basis of numerical analyses or on subjective judgment. Smaller banks are the main users of subjective credit analysis. Smaller banks use judgmental credit analysis because it is more cost-effective for them to do so than it is for larger banks to develop credit scoring systems or hire a third party to establish credit scores. Large banks frequently have more automated credit processes because of the volume of applications they receive. The judgmental credit analysis is distinct in its methodology and is founded on conventional credit analysis standards, including payment history, bank references, age, and other factors. The credit issuer employs an overall credit score that is calculated by scoring and weighting certain factors.
The majority of people are more familiar with the idea of a credit score and most frequently link it with the FICO or the Fair Isaac Corporation, which developed the most widely used credit score model, even though judgmental credit analysis works well for smaller banks. Larger banks and lenders use a credit score methodology that gauges a consumer's creditworthiness using a statistical number. Lenders then use credit ratings to determine the likelihood that a borrower would pay back their loans.
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What role does personal motivation play in improving time management?
Having the capacity for self-motivation is a crucial talent.
Self-motivation is what propels people to persist in the face of obstacles, seize chances, and demonstrate dedication to their goals. More information on this crucial component of emotional intelligence is provided on this page.
The administration and coordination of tasks to accomplish a goal is management. Setting the organization's strategy and organizing staff efforts to achieve these goals through the application of resources available are examples of such administration activities.
The handling, directing, or controlling of anything. Executive aptitude; management talent; excellent management. The person or people in charge of managing and directing a company, institution, etc. There is new management at the store.
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Do nontraditional products positively impact the housing market or will they lead to further downturns in the industry?
Nontraditional products always positively impact the housing market.
First, they are such flexible that they allow the lender to make adjustments on the loans which would ensure that the borrower makes the repayment even after they defer at one point of time.
This means that they are not subjected to any amortization and their value do not deterioate.
Non-traditional goods means goods which do not include crepe rubber, scrap rubber, sheet rubber, latex or fresh coconuts, or agricultural, horticultural or dairy produce. These non traditional goods includes goods other than black tea not in packet or package form and each packet or package must not weigh more than one kilogram and always includes organic tea in bulk.
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A company has a debt-to-capitalization ratio of 31.8%. Its pre-tax cost of debt is 7.4%. It has an unlevered beta of 1.05, a levered beta of 1.37 and a marginal tax rate of 35%. The risk free rate is 5.2% and the market risk premium is 6.2%. What is the company's WACC
The company's WACC will be 10.87% which is option A.
What is WACC and how is it calculated?WACC stands for Weighted average cost of capital.
WACC is calculated by multiplying the cost of each capital source (debt and equity) by its relevant weight by market value, and then adding the products together to determine the total. The cost of equity can be found using the capital asset pricing model (CAPM).
A company's debt-to-capital ratio or D/C ratio is the ratio of its total debt to its total capital, its debt and equity combined. The ratio measures a company's capital structure,
Formula For Calculation of WACC :-
WACC Formula = (E/V * Ke) + (D/V) * Kd * (1 – Tax rate)
E = Market Value of Equity.
V = Total market value of equity & debt.
Ke = Cost of Equity.
D = Market Value of Debt.
Kd = Cost of Debt.
Tax Rate = Corporate Tax Rate.
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Correct Question - A company has a debt-to-capitalization ratio of 31.8%. Its pre-tax cost of debt is 7.4%. It has an unlevered beta of 1.05, a levered beta of 1.37 and a marginal tax rate of 35%. The risk free rate is 5.2% and the market risk premium is 6.2%. What is the company's WACC?
A) 10.87%
B) 13.70%
C) 11.69%
D) 9.55%
Asa believes that her organization is taking data collected from customers for technical support and using it for marketing without their permission. What principle is most likely being violated
Asa believes his organization is taking data collected from customers for technical support and using it for marketing without their permission. In this situation, the principle that is likely to be violated will be that of purpose limitation.
What is purpose limitation?It is a constitutional principle of protection of the data of individuals and companies, expressed in article 5, paragraph b, related to the protection of personal data. The legislation refers to the use of data for purposes other than those for which they were initially intended.
Related content can be a serious breach for companies, as data security is an increasingly relevant topic these days.
Therefore, it is essential that companies use the data of potential consumers only when this use is carried out following the principles provided for by law, in an ethical and safe way.
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4. Suppose an 802.11b station is configured to always reserve the channel with the RTS/CTS sequence. Suppose this station suddenly wants to transmit 1,000 bytes
The time required to transmit the frame and receive the acknowledgment DIFS + 3SIFS +820μsec
What is Bytes?Digital information is stored in units called bytes, which typically have eight bits.The byte is the lowest addressable unit of memory in various computer architectures because it was historically the amount of bits needed to encode a single character of text in a computer.Network protocol specifications such as The Internet Protocol (RFC 791) refer to an 8-bit byte as an octet to distinguish them from the ordinary 8-bit definition.Depending on the bit endianness, an octet's bits are typically counted from 0 to 7 or 7 to 0, respectively. Since the initial bit is a zero, the eighth bit is a seven.Know more about Bytes numerical https://brainly.com/question/15166519
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I hope you are trying to ask the question below:
Question:
Suppose an 802.11 b station is configured to always reserve the channel with the RTS/CTS sequence.
Suppose this station suddenly wants to transmit 1,000 bytes of data, and all other stations are idle at this time.
As a function of SIFS and DIFS, and ignoring propagation delay and assuming no bit errors, calculate the time required to transmit the frame and receive the acknowledgment.
What organization issues management marketing and technical publications
SBA organization issues management marketing and technical publications.
The U.S. Small enterprise administration is a US government company that offers aid to marketers and small organizations.
The U.S. Small enterprise administration (SBA) facilitates Americans to grow groups and create jobs by using offering sources and gear, inclusive of getting the right of entry to capital; opportunities in Federal contracting; get admission to entrepreneurial training; and disaster assistance for companies, owners, and renters.
The term Small commercial enterprise management (SBA) refers to a U.S. government employer this is designed to bolster and promote the financial system by way of supporting the united states' small businesses. Mounted in 1953, the SBA's largest function is to recommend folks who need to start and develop their very own corporations.
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Sleep Tight, Inc., manufactures bedding sets. The budgeted production is for 34,700 comforters this year. Each comforter requires 1.5 hours to cut and sew the material. The cost of cutting and sewing labor is $16.30 per hour. Determine the direct labor budget for this year.
Direct labor budgeted cost = $848,415
How to reach the solution?
Giving the following information:
The budgeted production is for 34,700
comforters this year.
Each comforter requires 1.5 hours to cut
and sew the material.
The cost of cutting and sewing labor is
$16.30 per hour.
To calculate the direct labor budget, we
need to determine the total amount of
direct labor hours and then multiplying it
to the direct labor hour cost.
The total amount of hours
= 34,700 × 1.5
= 52,050 hours
Direct labor budgeted cost
= 52050 × 16.30
= $848,415
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Which two lines intersect at level of output the firm is supplying if that business is earning zero economic profits?
The average cost curve and the variable revenue curve are two lines which intersect at level of output when the firm is supplying and that business is earning zero economic profits.
If the price which the firm is charging from customer is higher than its average cost of production for the quantity of the goods produced, then the firm will earn profits to a large extent.
Conversely, if the price which is charged by the firm is lower than its average cost of production, the firm will suffer losses.
Thus when the cost is equal to the revenue of the firm it means there is no profit at all. At this level the average cost curve will intersect the revenue curve.
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A change in the demand for Godfather's Pizza would not be caused by a change in the: Group of answer choices price of Scarface's Pizza. price of Godfather's Pizza. All of the available options cause a change in the demand for Godfather's Pizza. popularity of Godfather's Pizza. buyers' income.
A change in the demand for Godfather's Pizza would not be caused by a change in the Buyers Income.
A good for which demand will decrease when buyers' incomes increase. goods that can replace each other; when the price of a good increase, the demand for its substitute will increase. goods that tend to be consumed together; when the price of a good increases the demand for its complement will decrease.
According to reports, Pillsbury purchased The Godfathers Pizza largely by accident. Godfathers were part of Diversifoods Inc., a conglomerate that includes over 300 Burger King franchises. Pillsbury wanted Burger King, and then came The Godfather's chain of over 800 pizzerias.
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When a consumer purchases a product, a(n) _________ is created for this item to be re-stocked by the merchant.
When a consumer purchases a product, a demand is created for this item to be re-stocked by the merchant.
Consumer demand is a monetary measure of a group's choice for a service or product primarily based on availability. It represents the shopping behavior of clients and helps determine the shopping traits of unique populations.
The monetary elements that maximum affect the call for customer goods are employment, wages, expenses/inflation, hobby fees, and purchaser self-belief.
Demand is decided by using some factors, inclusive of the range of humans looking for your product, how a great deal they are inclined to pay for it, and what kind of your product is available to consumers, both from your business enterprise and your competition.
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When a company services the broad market and has a low degree of product differentiation, it is most likely Group of answer choices pursuing a differentiation strategy. pursuing a cost-leadership strategy. pursuing a focus strategy. pursuing both cost leadership and differentiation. stuck in the middle.
When a company services the broad market and has a low degree of product differentiation, it is most likely pursuing a cost-leadership strategy.
What is Cost Leadership?
Cost leadership is a term used when a company projects itself as the cheapest manufacturer or provider of a particular product or commodity in a competition. It is difficult to deploy the strategy because the management must constantly work on reducing cost at every level to remain competitive.
Cost leadership is a part of marketing strategy. Although, it is highly effective in gaining market share as well as drawing the customers' attention, it is difficult to deploy. The management team of the company has to constantly work towards reducing the cost of not just one product, but the entire range of products in the company's portfolio.
What Is Cost Leadership Strategy?
Cost leadership is a business-level strategy employed by companies who wish to gain a competitive advantage by being the lowest-cost producer of a service, production process, or commodity.
Therefore, we can conclude that the correct option is it is most likely pursuing a cost-leadership strategy.
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A 12-month budget that is continuously adjusted by adding an additional month at the end of each month is called a(n) ______ budget.
A 12-month budget that is continuously planning by adding an additional month at the end of each month is called a perpetual budget. A perpetual budget is one that is continually extended once the current reporting period is over. This usually means that a budget for the next 12 months is in place, though the budget could be for a shorter or longer period.
The goal of using a perpetual budget is to provide a business with a fixed planning horizon over which the management team is constantly making plans to implement changes to the organization example monthly expenses etc.
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The theory of frictional unemployment suggests that workers in which age group are least likely to be unemployed for a significant period of time?
The theory of frictional unemployment suggests that workers in25 - 54 age group are least likely to be unemployed for a significant period of time.
What is meant by the term frictional unemployment?Unemployment can be defined as the time in a persons life where they have the skills and all of the knowledge to do work yet they do not have the job positions to work handy.
In the case of frictional unemployment, it is a time of transition that people make between jobs. This is the period where they transition between jobs in the nation.
It is when people would voluntarily leave the place that they are working because they are in search of new job opportunities. Hence we can conclude that The theory of frictional unemployment suggests that workers in25 - 54 age group are least likely to be unemployed for a significant period of time.
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Lemony lemonade has 3,200 gallons of lemonade in wip inventory, with 76% of materials already added. The lemonade is 50% through the process. Assuming all conversion costs are added evenly throughout the process, what are the equivalent units for conversion costs?.
The equivalent units for conversion costs are 3200 * 50% = 1600.
A Work-in-Progress (WIP) is what?
Work-in-progress (WIP) is a production and supply-chain management word used to describe products that are partially done but need to be finished. Raw materials, labor, and overhead expenses expended on goods that are in various phases of manufacturing are referred to as WIP.
WIP is a part of the balance sheet's inventory asset account. Following that, these expenses are charged to the finished goods account and ultimately to the cost of sales.
Is a Work-in-Progress an Inventory Type?
When raw materials and human labor are combined, an item of inventory is classified as a "work in progress." When the product is finished, its status changes from WIP to finished product. When a product is sold, its balance sheet representation changes from inventor to cost of goods sold (COGS).
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Which form do employers use to calculate the amount of federal income tax to be withheld from your paycheck
The type of form employers use to calculate the amount of federal income tax to be withheld from our paycheck is "Form W-4".
What is form W-4?As the employer, Form W-4 informs you of the employee's filing status, numerous job adjustments, credits, other income, deductions, and any additional amounts to be deducted from each paycheck in order to determine how much federal income tax should be withheld from the employee's salary.
Some characteristics of form W-4 are-
Employers figure out how much federal income taxes they should deduct from an employee's salary or wages by using the employee's Form W-4 and the IRS's income tax withholding table.An employee must complete Form W4, titled "Employee's Withholding Certificate," in order to tell the employer how much to deduct from your income. Individuals are required by the IRS to pay income taxes annually in installments.What is the name of a W-4 Form?According to an employee's marital status, the number of allowances and dependents they have, as well as other considerations, the W-4 form instructs the employer how much tax should be deducted from their paycheck.To know more about the W-4 form, here
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Johnson sells $107,000 of product to Robbins, and also purchases $11,400 of advertising services from Robbins. The advertising services have a fair value of $8,700. Johnson should recognize total revenue to account for these events of:
Johnson should recognize a revenue of $104,300
What is revenue?
Revenue means the amount generated from the normal operations of the business through sale of goods or rendering services.
In the case, Johnson incurs an extra cost for the product purchased from Robbins, which means that such extra cost implies losses which should be deducted from Johnson's overall revenue.
In this case, the amount paid by Johnson to Robbins for the purchases is more than the fair value(the reasonable market price), hence, the excess of the amount paid over fair value should be deducted from the sales revenue of $107,000.
revenue=$107,000-($11,400-$8,700)
revenue=$107,000-$2,700
revenue=$104,300
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The net asset value is calculated by dividing the current _______ value of the fund's portfolio (reduced by liabilities) by the number of outstanding shares.
The net asset value is calculated by dividing the current assets value of the fund's portfolio (reduced by liabilities) by the number of outstanding shares.
What is net asset value (NAV)?The worth of an investment fund is represented by its net asset value, or NAV, which is determined by adding up all of the fund's assets and deducting all of its liabilities.
NAV is used by mutual funds and ETFs to determine the cost per share of the fund.The net asset value of an investment fund is calculated by dividing the number of outstanding shares by the net value of the fund's assets less its liabilities.Commonly, NAV is used to compute the price per share of a mutual fund or ETF.The closing market values of the securities in the portfolio are used to determine NAV at the conclusion of each trading day.A pooled investment security called an exchange-traded fund (ETF) functions very similarly to a mutual fund.ETFs often follow a certain sector, index, commodity, or other asset, but unlike mutual funds, they can be bought or sold on a stock exchange just like conventional stocks.Anything from the price of a single commodity to a sizable and varied group of securities can be tracked by an ETF.ETFs may even be designed to follow particular investment strategies.Know more about ETF https://brainly.com/question/15169791
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Item 23 Old Antique Store prepared the following budget information for the month of May: Sales are budgeted at $360,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month. Inventory was $84,000 on April 30; an inventory increase of $12,000 is planned for May 31. All inventory is marked to sell at cost plus 50 percent. Estimated cash disbursements for selling and administrative expenses for the month are $48,000. Depreciation for May is projected at $6,000. Old Antique 's budgeted gross profit for May is:
The Budget Gross Profit for the Month of May is $199,200 calculated as follows:
What is Gross Profit?Gross profit is the profit that a company have earned from the customers after deducting its cost of goods sold. The other expenses are then deducted from this gross profit and then the net profit is calculated.
Sales $360,000
Less: Provision for Bad debts $10,800 (360,000 * 3%)
Net Sales $349,200
Less: Cost of Goods Sold $96,000 (84000+12000)
Less: Administrative expenses $48,000
Less: Depreciation $6,000
Gross Profit $199,200
The Sales is reduced by the allowance for bad debts, the net sales are arrived. However these net sales are then deducted from the relevant expenses such as cost of goods sold, administrative expenses and the depreciation.
Cost of Goods sold are calculated by adding the increase in inventory in the opening inventory.
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