a) Set up a new spreadsheet to calculate the profit made (or lost) on the following...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
a) Set up a new spreadsheet to calculate the profit made (or lost) on the following inventory: gold floor lamps, blue armchairs, wood side tables, and glass coffee tables. Use the data below as a starting point. Hint: Profit= total revenue - total cost. What columns do you need to add to your spreadsheet to calculate the total cost and total revenue (and therefore profit) for each item? Item Gold Floor Lamp Blue Armchair Wood Side Table Glass Coffee Table Cost per Item $20.00 $55.00 $8.00 $85.00 Quantity at Beginning of March 25 16 44 35 Price in March Number Sold in March $35.00 $105.00 $25.00 $95.00 14 7 40 4 CLOSE a) Set up a new spreadsheet to calculate the profit made (or lost) on the following inventory: gold floor lamps, blue armchairs, wood side tables, and glass coffee tables. Use the data below as a starting point. Hint: Profit= total revenue - total cost. What columns do you need to add to your spreadsheet to calculate the total cost and total revenue (and therefore profit) for each item? Item Gold Floor Lamp Blue Armchair Wood Side Table Glass Coffee Table Cost per Item $20.00 $55.00 $8.00 $85.00 Quantity at Beginning of March 25 16 44 35 Price in March Number Sold in March $35.00 $105.00 $25.00 $95.00 14 7 40 4 CLOSE
Expert Answer:
Answer rating: 100% (QA)
To calculate the total cost and total revenue and therefore profit for each item youll need to add t... View the full answer
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
Posted Date:
Students also viewed these finance questions
-
buckeyelink Midterm 1 Study Guide Fall 202 Course Hero HW 5-1250 Mansfield, Fall 20 x + webassign.net/web/Student/Assignment-Responses/submit?dep=32500676&tags=autosave#question4213103_9 Gmail...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Payroll Assignment - (50 Marks) The following employees are working in the ABC Clinic, they are paid biweekly. Calculate the gross income, net income, and the total remittance that ABC is to report...
-
Why is the grade of a bond in a grinding wheel important?
-
Cites as a pitfall the utilization of a subset of the performance equation as a performance metric. To illustrate this, consider the following data for the execution of a program in different...
-
Smith & Co, experienced the following six events in its first year of operations: 1. Shareholders contributed \($60,000\) cash. 2. Purchased land for \($40,000\) cash. 3. Borrowed \($18,000\) in cash...
-
Skylar Systems completed the following stock issuance transactions: May 19 Issued 1,700 shares of $2 par value common stock for cash of $9.50 per share. Jun. 3 Issued 200 shares of $9, no-par...
-
You have always shown a keen interest the largest JSE listed share Naspers (JSE:NPN). As a result, you are interested in speculating on the price and you find that the actual futures price on Naspers...
-
Simtek projects year-end EBIT of $800M which is expected to grow at 5% annually, and capital expenditures will equal depreciation. Simtek has $4,590M of 6% perpetual debt trading at face value and no...
-
(c) On 1/1/2020 Talha Company Limited acquired 80% of the equity share capital of Lutful & Company when the net assets of Lutful & Company were Tk. 65,000. Talha Company Limited further acquired a...
-
Sally, an analyst, wants to value a two-year European call option on a non-dividend paying stock, using the binomial option-pricing model. The call's strike price is 40. The annual riskless interest...
-
Assess how the 1 3 8 Student Living Jamaica ltd has changed from 2 0 2 1 - 2 0 2 2 . What conclusions can you draw from this information about 1 3 8 Student Living Inc. strategy? 5 . What conclusions...
-
Sales & Operations Planning Understand sales & operations planning and these coordinates manufacturing, logistics, service & marketing plans Construct aggregate plans that employ different strategies...
-
outstanding at a market price of $96 a share. Candy Land has 2,700 shares outstanding at a price of $24 a share. The The Sweet Shoppe and Candy Land are all-equity firms. The Sweet Shoppe has 800...
-
Amanda has a utility function of, U = ln(Y)where Y is income. She has an investment opportunity where there is 30% change of earning $10,000, a 20% chance of earning $30,000 and a 50% chance of...
-
Suppose that we want to know the mass of gasoline in an automobile's gas tank. The tank has a volume of 70 L, and a handbook of fluid properties states that the density of gasoline is 736 kg/m. (1000...
-
Use Stokes' Theorem to evaluate f(y+sin x) dx+(z+cos y) dy+rdz, where C is the rve r(t) = (sint, cost, sin 2t), t = [0, 2].
-
Refer PB1-1. Accounts Payable.. $ 33,130 Accounts Receivable.. 9,500 Cash. 13,900 Common Stock 10,000 Dividends.. 1,100 Equipment... 86,000 Notes Payable.. 51,220 Operating Expenses. 60,000 Other...
-
Explain why stockholders equity is increased by revenues and decreased by expenses.
-
Robin Harrington established Time Definite Delivery on January 1. The following transactions occurred during the companys most recent quarter. a. Issued common stock for $ 80,000. b. Provided...
-
Classify each of the following costs relative to the cost object customer for a new car dealer: Salesperson wages Dealership manager salary. Depreciation on showroom furniture. Cost of automobiles...
-
Complete the following T-accounts: Materials Inventory ? 20,000 19,900 300 Wages Payable 15,000 Work-in-Process Inventory Finished Goods Inventory 2,000 ? 5,000 ? ? ? ? ? 3,000 32,000 5,000...
-
Benton Engineering Services Company incurred the following during 2019: Calculate prime cost and conversion cost for Benton Engineering Services Company during 2019. Direct labor.. Overhead Selling...
Study smarter with the SolutionInn App