Olivera, Inc provides the following data for 2017
Sales Revenue $626,000
Sales Returns and Allowances 21,000
Sales Discounts 6,000
Net Sales Revenue 599,000
Cost of Goods Sold 400,000
The gross profit as a percentage of net sales is ________. (Round your answer to two decimal places.)
A) 31.79%
B) 33.22%
C) 66.78%
D) 34.22%
B .B)
Percent of
2017 Total
Net Sales $599,000 100.00
Cost of Goods Sold 400,000 66.78
Gross Profit $199,000 33.22
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If overhead is applied on the basis of direct labor hours, and actual hours worked are less than budgeted, which of the following is true, assuming estimated overhead is correct?
a. Overhead is probably overapplied. b. Overhead is probably underapplied. c. Applied overhead and actual overhead are equal. d. None of these is true.
Kim Hsu is the owner of Hsu's Financial Services. At the end of its accounting period, December 31, 2009, Hsu's has assets of $575,000 and owner's equity of $335,000. Using the accounting equation and considering each cased independently, determine the
following amounts. a. Hsu's liabilities as of December 31, 2009. b. Hsu's liabilities as of December 31, 2010, assuming that assets increased by $56,000 and owner's equity decreased by $32,000. c. Net income or net loss during 2010, assuming that as of December 31, 2010, assets were $592,000, liabilities were $450,000, and there were no additional investments or withdrawals.
The cultural context refers to the nature of relationship between communicators as well as who is present
Indicate whether the statement is true or false
St. Michaels School ranks investments by using the profitability index (PI). The following data relate to Project X and Project Y: Project X Project YInitial Investment$400,000 $1,300,000 Present value of inflows 600,000 1,800,000 Which project would be more attractive as judged by its ranking, and why?
A. Project Y because the PI is 1.38. B. Project Y because the PI is 0.72. C. Project X because the PI is 0.67. D. Both projects would be equally attractive in terms of ranking, as indicated by a positive PI. E. Project X because the PI is 1.50.