The net income of Cookies by casey is $123,240
What is net income?
The net income of the company is the excess of its sales revenue over all costs of the running the business, which includes, the costs of sale, interest expense, depreciation as well as the taxes payable to the government authority which is 21% of profits before tax in this case.
Profit before tax=sales-costs of sale-depreciation-interest expense
sales=$487,000
costs of sale=$263,000
depreciation=$42,000
interest expense=$26,000
profit before tax=$487,000-$263,000-$42,000-$26,000
profit before tax=$156,000
tax rate=21%
net income=profit before tax*(1-tax rate)
net income=$156,000*(1-21%)
net income=$123,240
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Answer:
The correct option is (b)
Explanation:
According to the scenario, the foreign currency that original sold at the market is shown below:
= (Forward rate to Jan 15 - Spot rate) × paymen made
= ($0.00089 - $0.00082 ) × 20 million
= $0.00007 × 20,000,000
= $1,400 premium
hence, the foreign currency that originally sold at the market is $1,400 premium
Therefore the correct option is (b)
Answer:
c. $33.33 per housekeeping hour
Explanation:
The housekeeping department's activity rate is how much each housekeeping hour costs.
This question can be solved by a simple rule of three.
27000 hours cost $900000. How much does 1 hour cost?
27,000 hours - $900,000.
1 hour - $x.
So the correct answer is:
c. $33.33 per housekeeping hour
• eqm Q = 175
• eqm P = $ 190
<u>Explanation:</u>
At current price, Quantity Demanded is less than Quantity supplied
As Qd = 200, Qs = 160
• so market is currently experiencing a deficiency, as Qd > Qs
•so to adjust, market price will incraese,
so that Quantity Demanded decrease & Quantity supplied increases, till Qd = Qs
• eqm Q = 175
• eqm P = $ 190
As if P falls by 1, then P = 194
Qd = 200 minus 5= 195
Qs = 160 plus 3= 163
If P = 193, Qd = 190, Qs = 166
If P = 191, Qd = 180, Qs = 172
P = 190, Qd = 175, Qs = 175
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