use the following information for jett co. 2022 2021 sales 1,200 1,000 cogs 850 700 operating expenses 200 200 income taxes 18 35 jett co.'s gross profit, operating profit and net profit margins for 2022 are: question 18 options: a) 29.2%, 12.5%, 11.0%, respectively. b) 29.2%, 12.5%, 9.6%, respectively. c) 29.2%, 12.5%, 10.0%, respectively. d) 50.0%, 32.5%, 22.5% respectively.
Answers
The solution is (b) 29.2%, 12.5%, 9.6%, respectively.
To calculate the gross profit margin, we divide gross profit by sales. Gross profit is sales minus cost of goods sold (COGS). Thus, the gross profit margin for 2022 is:
(1,200 - 850) / 1,200 = 29.2%
To calculate the operating profit margin, we divide operating profit by sales. Operating profit is gross profit minus operating expenses. Thus, the operating profit margin for 2022 is:
(1,200 - 850 - 200) / 1,200 = 12.5%
To calculate the net profit margin, we divide net profit by sales. Net profit is operating profit minus income taxes. Thus, the net profit margin for 2022 is:
(1,200 - 850 - 200 - 18) / 1,200 = 9.6%
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Related Questions
Two sets of elementary schoolchildren were taught to read by using different methods, 50 by each method. At the conclusion of the instructional period, a reading test yielded the results Y1 = 75, Y2 = 72, 51 = 9, and s2 = 11. (a) What is the attained significance level if you wish to see whether evidence indicates a difference between the two population means? (Round your answer to four decimal places.)
Answers
To determine the attained significance level, we need to perform a two-sample t-test to compare the means of the two groups. Let's calculate it step by step:
Step 1: State the hypotheses.
The null hypothesis (H0) assumes there is no difference between the two population means:
H0: μ1 = μ2
The alternative hypothesis (Ha) assumes there is a difference between the two population means:
Ha: μ1 ≠ μ2
Step 2: Select the significance level.
Let's assume a significance level (α) of 0.05. This means we want a 95% confidence level for our test.
Step 3: Compute the test statistic.
For a two-sample t-test, the test statistic is given by:
t = (Y1 - Y2) / sqrt((s1^2/n1) + (s2^2/n2))
Where:
Y1 = sample mean of group 1
Y2 = sample mean of group 2
s1 = sample standard deviation of group 1
s2 = sample standard deviation of group 2
n1 = number of observations in group 1
n2 = number of observations in group 2
Given:
Y1 = 75
Y2 = 72
s1^2 = 9
s2^2 = 11
n1 = n2 = 50
Let's substitute the values into the formula:
t = (75 - 72) / sqrt((9/50) + (11/50))
t = 3 / sqrt(0.18 + 0.22)
t = 3 / sqrt(0.4)
t ≈ 3 / 0.6325
t ≈ 4.7393 (rounded to four decimal places)
Step 4: Determine the critical value(s).
Since we have a two-tailed test, we need to consider both sides of the distribution. With a significance level of 0.05, we have α/2 = 0.025 for each tail.
To find the critical value(s), we consult the t-distribution table or use statistical software. Considering the degrees of freedom (df) for this test (df = n1 + n2 - 2 = 50 + 50 - 2 = 98), the critical values are approximately -1.9842 and +1.9842.
Step 5: Make a decision.
If the absolute value of the test statistic is greater than the critical value, we reject the null hypothesis. Otherwise, we fail to reject the null hypothesis.
Since |4.7393| > 1.9842, we can reject the null hypothesis.
Step 6: Compute the attained significance level.
The attained significance level is the probability of observing a test statistic as extreme as the one obtained, assuming the null hypothesis is true.
Using statistical software or a t-distribution table, we can find the p-value associated with the test statistic of 4.7393. The p-value turns out to be very small (p < 0.0001).
Therefore, the attained significance level, rounded to four decimal places, is less than 0.0001.
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88 million people live on less than $1. 00 a day. These people are said to be living in _____________.
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88 million people live on less than $1. 00 a day. These people are said to be living in absolute poverty.
Poverty is about no longer having enough money to fulfill primary wishes which include meals, garb and safe haven. but, poverty is extra, an awful lot more than just now not having enough cash. the arena bank corporation describes poverty in this manner: “Poverty is hunger. Poverty is loss of safe haven.
We will outline poverty as the circumstance in which the fundamental needs of a own family, like meals, refuge, clothing, and schooling are not fulfilled. it is able to lead to different troubles like poor literacy, unemployment, malnutrition, and so on. A terrible individual is not capable of get education due to lack of cash and consequently stays unemployed.
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why would division of labor without trade not work?
Answers
Because without trade, people cannot specialize and would have to produce everything themselves.
If there were no trade in the world, people would have to work together to produce the goods and services they need. This would not be possible as someone would have to come up with ideas and ideas for products and services. Without trade, people could not get the things they need from other people.
One of the reasons division of labor doesn't work without trade is that trade would allow the exchange of goods and services between people who would be able to produce more goods and services than they could without the help of others. People specialize in their jobs, which would lead to an overall drop in production because everyone is doing the same thing at the same time.
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If the product or service you sell is taxable, you must obtain is ———— A. A sales tax permit B. An employer identification number C. A business checking account D. Business cards
Answers
Answer:
The answer I prefer is
Explanation:
An employer identification number.
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Have a nice day!!!!
the ethical concern regarding expert witnesses is about whether they are really
Answers
The ethical concern regarding expert witnesses is about whether they are truly impartial and unbiased in providing their testimony.
In legal proceedings, expert witnesses play a crucial role in presenting specialized knowledge and opinions to assist the court in reaching a fair judgment. However, the ethical concern arises when the expert witnesses' credibility and objectivity come into question. There is a risk that expert witnesses may be influenced by financial incentives, personal biases, or a desire to support the side that hired them.
To address this concern, ethical guidelines and standards have been established to ensure the integrity of expert witness testimony. These guidelines emphasize the importance of independence, objectivity, and transparency. Experts are expected to provide unbiased opinions based on their expertise and the available evidence, rather than being swayed by external pressures.
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A manufacturer produces a commodity where the length of the commodity has approximately normal distribution with a mean of 7.3 inches and standard deviation of 1.2 inches. If a sample of 34 items are chosen at random, what is the probability the sample's mean length is greater than 6.9 inches? Round answer to four decimal places. to find answer
Answers
The probability that the sample's mean length is greater than 6.9 inches can be calculated using the normal distribution with the given mean and standard deviation.
Since the sample size is relatively large (n = 34), we can use the Central Limit Theorem approximate the sample mean's distribution as normal. The mean of the sample mean will be equal to the population mean (7.3 inches), and the standard deviation of the sample mean will be equal to the population standard deviation divided by the square root of the sample size (1.2 inches / sqrt(34)).
To calculate the probability that the sample's mean length is greater than 6.9 inches, we need to find the area under the normal curve to the right of 6.9 inches. This can be done by standardizing the value using the z-score formula: z = (x - μ) / (σ / sqrt(n)). Plugging in the values, we have z = (6.9 - 7.3) / (1.2 / sqrt(34)).
Once we have the z-score, we can use a standard normal distribution table or a statistical calculator to find the corresponding probability. The probability should be rounded to four decimal places for accuracy.
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Review the information in the chart with reasons for and against adding juice boxes to the high school lunch menu.A 2-column table with 3 rows. The 1st column is labeled In Favor of Adding Juice Boxes with entries Juice boxes are an alternative for students with dairy allergies, Juice boxes are an easy way to increase fruit offerings on the menu, and Juice boxes are made from recyclable materials. The 2nd column is labeled Against Adding Juice Boxes with entries The serving size of a juice box is insufficient for high school students, The cafeteria already offers three fruit options as side dishes, and blank.Which statement completes the chart
Answers
Answer:
D. Juice boxes contain too much sugar to be considered a nutritious fruit choice
Explanation:
bc it’s the only option against juice boxes
Answer:
D
Explanation:
Because logic... try it sometime
Rug emporium, a manufacturer of large area rugs, markets its products throughout the united states using a network of regional sales offices. they are using a ________ sales force structure.a. Marketb. Regionalc. Territoriald. Customere. Product
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Rug emporium, a manufacturer of large-area rugs, markets its products throughout the united states using a network of regional sales offices. they are using a territorial sales force structure.
An emporium refers to a buying and selling publish, factory, or marketplace of Classical antiquity, derived from the historical Greek: , romanized: (empórion), which will become Latin: emporium. The plural is emporia in each languages, despite the fact that in Greek the plural undergoes a semantic shift to mean "products".[1] Emporium is a term that has additionally been used to describe the centres of heightened change during the Early middle a while. Emporia varied greatly of their degree of interest. some appear to have functioned much like the permanent eu buying and selling colonies in China, India and Japan within the early present day period or those of the mediaeval Italian maritime republics in the Levant. Others have been probable annual activities for a few days or weeks like the medieval Champagne festivals or modern-day trade festivals.
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A property and liability insurance agent is generally authorized
to bind coverage. This is not true with respect to surety
coverages. Why not?
Answers
A property and liability insurance agent is generally authorized to bind coverage. This is not true with respect to surety coverage.
This is because of the differences in the underwriting processes between the two types of coverage. In the case of property and liability insurance, the underwriting process involves determining the potential risk of loss from the client and setting the premium based on that risk. The agent is authorized to bind coverage because the underwriting process is relatively straightforward and standardized.
On the other hand, surety coverages involve a more complex underwriting process. Unlike property and liability insurance, surety coverages require a thorough analysis of the client's financial position, creditworthiness, and ability to fulfill the obligations of the contract.
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Mandatory government spending includes which of the following?
a. Infrastructure and science
b. Social Security and Medicare
c. Healthcare and military
d. Education and agriculture
Answers
Social Security and Medicare is the Mandatory government spending. Hence, option B is correct.
What does government spending include?The federal government spends money on many different things, including Social Security and Medicare as well as military hardware, upkeep of the country's roadways, construction development, research, and education. These expenses can be divided into two groups: necessary and discretionary.
Examples of obligatory spending include contributions to entitlement systems like Social Security and Medicare as well as required interest payments on the national debt. Nearly two thirds of all federal spending is accounted for through mandatory spending.
Thus, option B is correct.
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c) 4 benefits which membership in a trade union can bring to employees are
Answers
Answer:
seguro de servicios medicos, la paga de horsa extras, la antiguedad, las pensiones,
Answer:
Unions are associated with higher productivity, lower employee turnover, improved workplace communication, and a better-trained workforce. There is a substantial amount of academic literature on the following benefits of unions and unionization to employers and the economy: Economic growth. Productivity.
Explanation:
Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31 of 2016. Total costs/expenditures were $4,800,000 on March 1, $3,000,000 on June 1, and $6,000,000 on December 31. Arlington Company borrowed $2,400,000 on January 1 on a 5-year, 12% note to specifically help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $4,800,000 note payable and an 11%, 4-year, $9,000,000 note payable. 1. What are the average accumulated expenditures
Answers
The information provided indicates that on January 1, Arlington Company took out a $2,400,000 loan on a 5-year, 12% note to expressly assist finance the building's development.
The average accumulated expenditure is computed by adding all the expenditures and dividing by the number of months of construction that elapsed during the year. The construction started on January 1 and completed on December 31 of 2016; thus, twelve months of construction elapsed during the year.
Therefore, Total costs = $4,800,000 + $3,000,000 + $6,000,000= $13,800,000The average accumulated expenditure is computed by adding all the expenditures and dividing by the number of months of construction that elapsed during the year. So, Average accumulated expenditure= Total costs / Number of months of construction Average accumulated expenditure = $13,800,000 / 12 = $1,150,000.
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PLS HELP ME I NEED THIS DONE TODAY!!! What does the audience focus on when an entire photograph is in focus? OA. OB. O c. O D. They focus only on the subject of the image. They review the entire image. They mainly focus on the foreground. They mainly focus on the background.
Answers
The answer is C. They mainly focus on the foreground in photograph.
When an entire is in focus, the audience's focus is not solely limited to the subject of the image. Instead, they tend to review the entire image, taking in all the details and elements present. While the subject may still attract initial attention, viewers often explore the composition as a whole.Photographs that are in sharp focus throughout offer a balanced visual experience, allowing viewers to engage with the foreground, middle ground, and background equally. This encourages them to examine various elements and relationships within the frame. To improve decision making and creativity in teams, several strategies can be employed. First, fostering open and inclusive communication is essential. Encouraging team members to freely express their ideas, opinions, and concerns creates a collaborative environment where diverse perspectives can be considered.Secondly, establishing a clear decision-making process can streamline the team's efforts. Defining roles and responsibilities, setting goals and objectives, and outlining the steps to reach a decision can enhance efficiency and effectiveness.Encouraging creative thinking and innovation is also crucial. Providing space for brainstorming sessions, idea generation, and exploration of different possibilities allows team members to think outside the box and come up with unique solutions.
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Marcel wants to open a car wash after graduating from high school. For several days, he observed the cars being washed at a local car wash and recorded the following information: Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 50 cars 45 cars 48 cars 26 cars 47 cars 55 cars What is the average number of cars washed each day? If the car wash were open only five days a week, how many cars might be washed per year? (Hint: There are 52 weeks in a year.)
Answers
The average number of cars washed each day is 45 cars and the total number of cars washed in a year is 11,700.
What is mean?In statistics, in addition to the mode and median, the mean is one of the measures of central tendency. Simply put, the mean is the average of the values in the given set. It indicates that values in a particular data set are distributed equally. The three most frequently employed measures of central tendency are the mean, median, and mode. The total values provided in a datasheet must be added, and the sum must be divided by the total number of values in order to determine the mean.
Given a table for car washing each day,
Day 1 Day 2 Day 3 Day 4 Day 5 Day 6
50 45 48 26 47 55
Average for cars washed each day,
Average = sum of cars washed/number of days
sum of cars washed = 50 + 45 + 48 +26 + 47 + 55
the sum of cars washed = 271
total days = 6
average = 271/6 = 45.1667
average car washed each day = 45
If the car wash were open only five days a week, how many cars might be washed per year,
total car washed in year = (number of days)(average car washed)(year week)
total car washed in year = 5 x 45 x 52
total car washed in year = 11,700
Hence average car washed each day is 45 and the total car washed in a year is 11,700.
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When sport/event organizations seek sponsors who will exploit the sponsorship, what benefit are they seeking to gain?
Answers
Answer: they want to generate more income from doing so, the greater the allowance the more income they will generate for the event they intend holding.
Explanation:
Exploiting of sponsorship would be described as allowing a sponsor to utilize every opportunity in the event to promote their brand.
When event organizers look out for sponsors who would handle their event and allow them explore it, it'll mean they want to generate more income from doing so, the greater the allowance the more income they will generate for the event they intend holding. For them to allow a particular brand to exploit the event would mean that brand would virtually take care of all expenses for the event since it'll be the face the audience would see when they come to the event. It is a way of generating more income for events.
The supply and demand equations for a clothing product in a particular week are given by
p=0.7q+6 Supply Equation
p=-1.7q+18 Demand Equation
where p is the price in dollars and q is the quantity in hundreds
Find the equilibrium price and quantity.
Note:
The format of your answer for the price must be written as an integer with two decimals. Examples of this format is $8.35 or $4.00.
The format for the quantity must be written in only integer (in 100), for example 200 (not 2).
Answers
At the equilibrium point, the price for the clothing product settles at $9.50, while the corresponding quantity reaches 500 (in hundreds).
To find the equilibrium price and quantity, we need to set the supply equation equal to the demand equation and solve for the values of p and q.
0.7q + 6 = -1.7q + 18
Combining like terms, we have:
2.4q = 12
Dividing both sides by 2.4, we get:
q = 5
Substituting the value of q back into either the supply or demand equation, we can find the equilibrium price:
p = 0.7(5) + 6
p = 3.5 + 6
p = 9.5
Therefore, the equilibrium price is $9.50 and the equilibrium quantity is 500 (in hundreds).
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Besides pricing and issues directly related to costs, what are at least two other considerations you would need to think about before marketing a product in multiple countries?
Imagine you are a board game creator with a great new idea, but little business experience. What are some of the benefits you could get out of going to a board game conference or convention?
Craft a short (three or four sentence) sales pitch with you as the product—that is, some service you offer, or maybe selling yourself as an employee. To help create the message, imagine you happened to be entering an elevator the same time as the potential customer/client/employer. What could you say in the short time it takes to go between a few floors to convince them to “buy” what you are offering?
You are opening a store that sells children’s hiking gear, aimed especially at very small children (preschoolers). What kind of brand could help you increase sales? What kind of logo might you use? Who is, ultimately, your target audience?
60 IF you answer these questions ASAP
EXPLAIN YOUR ANSWERS
Answers
Answer:
Publicity, connections, promotion, tips, advice, business partners, investors, Offers.
Explanation:
Conventions and conferences for anything are always meant for meeting others like you. They are created for social connection.
Two considerations to think about before marketing a product in multiple countries are cultural differences and language barriers.
What is marketing?Marketing is the process of discovering, creating, and delivering value to a target market in the form of goods and services.
Cultural differences and language barriers are two factors to consider before marketing a product in multiple countries.
Different cultures have different values, customs, and preferences, which can influence how products are perceived and used.
Attending a board game conference or convention could provide several advantages as a board game creator with little business experience.
These events allow you to network with other game designers, publishers, and distributors while also showcasing your game to potential customers.
A brand that promotes outdoor exploration and adventure for young children could help increase sales for a store that sells children's hiking gear aimed at preschoolers.
Thus, this can be concluded regarding the given scenario.
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Which aspect of organizing Is concerned with dividing a large task Into smaller tasks and assigning the tasks to the right employees? __________, which is an important part of the organizing function, Includes dividing a large task Into smaller tasks and assigning the same to the right employees.
Answers
Answer:
i think its division of labor but im not sure
Explanation:
its right on edmentum/plato i just took the test
Answer:
division of labor
Explanation:
plato answer
for each of the following situations involving marginal cost (mc) and marginal benefit(mb) indicate whether it would be best to produce more , fewer, or the current number of units.
Answers
Properly evaluate each situation involving marginal cost (MC) and marginal benefit (MB), we need specific details for each scenario.
However, I can provide a general framework to help you analyze these situations:
If MC is less than MB: It would be best to produce more units. When the cost of producing an additional unit is lower than the benefit gained from that unit, increasing production can lead to higher overall profitability.
If MC is greater than MB: It would be best to produce fewer units. When the cost of producing an additional unit exceeds the benefit gained from that unit, reducing production can help avoid incurring unnecessary costs and improve overall efficiency.
If MC is equal to MB: It would be best to maintain the current number of units. When the cost of producing an additional unit is equal to the benefit gained from that unit, maintaining the current production level ensures that costs and benefits are balanced.
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what is the relationship between income and demand?
Answers
Income and demand are directly correlated in the case of common products, which means that as income rises, demand will follow suit, and as income falls, demand will decline.
Inferior goods, as we previously discovered, have a negative income elasticity of demand due to the inverse link between income and demand. Contrarily, the relationship between income and demand for normal commodities is positive, as seen by a positive income elasticity of demand.
Between income and demand for a typical good, there is an elastic relationship. To put it another way, shifts in income and demand are positively connected or move in the same direction. The consumer base's income.
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Which of the following is an example of a fixed asset?
A. Money in the bank
B. Accounts payable
C. Gross profit
D. Real estate
Answers
Answer:
D. Real estate
Explanation:
Fixed assets are physical resources belonging to a business. There are tangible and valuable items that a business owns. A firm uses fixed assets to generate income in the current and future periods.
Fixed assets have a useful life exceeding the current financial year. They are not meant for sale in the short run but to help a business generate income for many years to come. From the list provided, real estate is a fixed asset. Other examples of fixed assets include motor vehicles, machinery, and equipment.
I need help with all those questions
Answers
Question 9 of 10
Amy is interested in fashion. She is a talented public speaker and enjoys
traveling abroad. Which career path might be right for her?
A. Marketing representative for an international clothing designer
B. Sales representative for a local furniture store
C. Art director for an interior design company
D. Marketing manager for a local clothing retailer
SUBMIT
Answers
Answer:
A
Explanation:
since shes a talented public speaker and enjoys travelling (A) would be a good fit
Marketing representative for an international clothing designer.
Thus, the correct option is A.
Who is a Marketing representative?Advertising, promotions, and other strategies are used by marketing professionals to shape public perception of a company's goods and draw in new clients.
By directly engaging customers on the ground, a field marketing person is in charge of raising brand recognition. Field marketers serve as a bridge between buyers and sellers by giving consumers useful information about goods and services.
Several of the typical sales and marketing goals include: Boost the sale of goods or services. Increase brand recognition. Increase a business's market share.
It goes without saying that marketing is not for everyone because it is a very difficult career option. That does not preclude it from being your ideal profession, though. In addition to being one of the sectors with the highest growth, marketing offers a wide range of specializations.
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if the mpc is 0.50 and the equilibrium gdp is $100 billion below the full-employment gdp, then the size of the recessionary expenditure gap is
Answers
Correct answer is $50 billion.
Explanation,
Given,
MPC = 0.50
GDP gap = $100 Billion
Therefore the recessionary hole is given by:
Recessionary Gap=(1−MPC)×GDP Gap=(1−0.50)×100=0.50×100=50
That is the dimension of the recessionary hole is $50 Billion.
A recessionary gap, or contractionary gap, occurs when a country's actual GDP is lower than its GDP at full employment. Recessionary gaps shut when actual wages return to equilibrium, and the extent of labor demanded equals the volume supplied.
What is a recessionary hole example?In 2005, the US financial system had a viable GDP of 66.86 billion, whereas its actual GDP was 17.95 billion. Since the potential GPD is greater than the actual GDP, there is a recessionary gap. In other words, the US economic system operates beneath its full-employment level.
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What is a non-profit organization? What is an example of one?
Answers
Answer:
An organization that sells products, but doesn't keep the money for themselves.
Explanation:
which of the following questions could not be answered from the statement of cash flows? multiple choice question. what are the earnings-per-share of common stock? can the company pay its debts? where does a company spend its cash? does the company have the resources to pursue opportunities?
Answers
The following questions could not be answered from the statement of cash flows is the what are the earnings-per-share of common stock.
What is a statement of cash flows?In accounting, a statement of cash flows refers to a financial statement that provides an aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources.
This statement also includes all cash outflows that pay for business activities and investments during a given period.
It breaks down analysis to investing, operating and financing events. It covers up current operating results and accompanying changes in the statement of financial position or balance sheet.
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HELPPSPSPPSPSOSPPSSPOSJHDJWK
The benefits of marketing include techniques that create promotion of goods and products that lead to all but
A. Competition for new and improved products
B. Unlimited resources for the products promoted
C. Increased demand leading to lower prices
D. Added value to products and adds.
Answers
Answer: B
Explanation:
Assume an item has a demand of 1 per day and a demand of 3 every 7th day. however, the item is out of stock every 7th day. what would be the item fill rate (ifr)?
Answers
The item fill rate (IFR) in this scenario is approximately 66.67%. The item fill rate (IFR) represents the percentage of demand that is fulfilled or satisfied.
In this case, we need to calculate the IFR considering the item's demand pattern and the fact that it is out of stockevery 7th day.
To calculate the IFR, we need to determine the total demand for the item and the actual quantity available during the demand period. Let's consider a 7-day period for analysis.
Total Demand = (6 days * 1 unit/day) + (1 day * 3 units/day) = 9 units
However, since the item is out of stock on the 7th day, the available quantity will be less than the total demand.
Actual Quantity Available = Total Demand - Quantity Out of Stock
Actual Quantity Available = 9 units - 3 units (for the 7th day) = 6 units
The Item Fill Rate (IFR) is then calculated by dividing the actual quantity available by the total demand and multiplying by 100 to express it as a percentage.
IFR = (Actual Quantity Available / Total Demand) * 100
IFR = (6 units / 9 units) * 100
IFR = 66.67%
The item fill rate (IFR) measures the proportion of demand that is fulfilled or satisfied by the available quantity of the item. In this case, the demand for the item is 1 unit per day except on the 7th day, where the demand is 3 units. Additionally, the item is out of stock on the 7th day.
To calculate the IFR, we consider a 7-day period to capture the complete demand pattern. Within this period, the total demand is calculated by summing the demand for the individual days. In this case, we have 6 days with a demand of 1 unit per day and 1 day with a demand of 3 units.
However, since the item is out of stock on the 7th day, we need to subtract the quantity out of stock from the total demand to determine the actual quantity available. Subtracting the 3 units out of stock from the total demand of 9 units leaves us with 6 units as the actual quantity available.
The IFR is then calculated by dividing the actual quantity available by the total demand and multiplying by 100 to express it as a percentage. In this case, the IFR is approximately 66.67%, indicating that 66.67% of the total demand is fulfilled by the available quantity.
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the following line items are from the horizontal analysis of income statements:increase(decrease)increase(decrease)20y720y6amountpercentfees earned$140,000$120,000$20,000 16.7%wages expense80,00060,00020,00033.3%supplies expense8001,000??
Answers
The missing tab for supplies expense is $200 (decrease) and -20% (decrease).
What is the amount and percent change for supplies expens?To get the missing tab, we will calculate the amount and percent change for supplies expense.
Amount Change:
20y7 supplies expense = 800
20y6 supplies expense = 1,000
Amount change = 20y7 supplies expense - 20y6 supplies expense
Amount change = 800 - 1,000
Amount change = -200
Percent Change:
Percent change = (Amount change / 20y6 supplies expense) * 100
Percent change = (-200 / 1,000) * 100
Percent change = -20%.
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Inferring Shrinkage Using a Perpetual Inventory System (LO6-2] In fiscal 2020, assume that HBC reported Cost of Goods sold of $11,571 million, Ending Inventory for the current year of $3,259 million, and Ending Inventory for the previous year (2019) of $3,641 million. Required: If you knew that the cost of inventory purchases was $11,289 million, could you estimate the cost of shrinkage during the year? (Enter your answer in millions - no need to add 6 zeros after your number as these numers are already in millions.) 6:10 Cost of shrinkage
Answers
Given the cost of goods sold, ending inventory for the current year, ending inventory for the previous year, and the cost of inventory purchases, we can estimate the cost of shrinkage during the year.
To estimate the cost of shrinkage, we can use the following formula:
Cost of Shrinkage = (Ending Inventory for the Previous Year + Cost of Goods Sold) - (Ending Inventory for the Current Year + Inventory Purchases)
Using the given values:
Cost of Shrinkage = ($3,641 million + $11,571 million) - ($3,259 million + $11,289 million)
Simplifying the calculation:
Cost of Shrinkage = $15,212 million - $14,548 million
Cost of Shrinkage = $664 million
Therefore, the estimated cost of shrinkage during the year is $664 million. This represents the reduction in inventory value due to factors such as theft, damage, or obsolescence.
It is important to note that shrinkage is an estimation and may not capture the exact amount of losses accurately. Various factors can contribute to shrinkage, and this estimate provides an approximation based on the given information.
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