FREE Trial
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!

Suppose you make beautiful coffee tables out of juniper trees. Your materials cost for each table is $135. You pay your craftsman $25 per hour and it takes him 5 hours to complete one table. If you sell these tables

  1. Suppose you make beautiful coffee tables out of juniper trees. Your materials cost for each table is $135. You pay your craftsman $25 per hour and it takes him 5 hours to complete one table. If you sell these tables for $689.

  3. What is your Cost of Goods Sold Percentage?
  • Expert Answer

To calculate the Cost of Goods Sold COGS percentage we need View the full answer


answer-question
Related Book For  answer-question
Income Tax Fundamentals 2013

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

See More Books
Post a Question and Get Help

Cannot find your solution?

Post a FREE question now and get an answer within minutes*.

*Average response time.
Posted Date: June 07, 2023 06:24:38
See More Questions

Students also viewed these finance questions

Q:
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
A:
A hotel s target market is a specific subset of all hotel customers from whom a particular property seeks to obtain business This could be business travelers and families on vacation to a hotel near a......
Q:
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
A:
phase 1 Doesn t everyone At fourteen I began working at Crazy Eddie as a stock boy in 1971 I started off by stealing cash and inflating insurance loss claims This was how the firm operated and I never......
Q:
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
A:
Three specific parts of the Case Guide Objectives and Strategy Section that I had the most difficulty understanding are the purpose of the Industry an......
Q:
An astronaut must journey to a distant planet, which is 200 light-years from Earth. What speed will be necessary if the astronaut wishes to age only 10 years during the round trip?
A:
The detailed......
Q:
Consider the tea-tasting experiment of Example 10 and Table 11.18. Consider the possible sample table in which all four of her predictions about the cups that had milk poured first are correct. Using...
A:
PREDICTION ACTUAL Milk Tea Total Milk 4 0 4 Tea 0 4......
Q:
What lump sum of money must be deposited into a bank account at the present time so that $500 per month can be withdrawn for five years, with the first withdrawal scheduled for six years from today?...
A:
This is a deferred annuity the ti......
Q:
When possible, compute the truth values of the simple components in the following compound propositions. If no truth value can be computed, write a question mark (?) under the letter or letters with...
A:
Click to View...
Q:
Overall, Steve Edwards, vice president of Marketing at Ditten hoefer's Fine China, is very pleased with the success of his new line of Gem-Surface china plates. Gem-Surface plates are different from...
A:
1 Dittenhoefer s competes on several dimensions of quality including features protective coating designs available reliability durability of china conformance designs not faded all pieces match aesthe......
Q:
How you would advise the CEO of BP to apply your selected leadership approach(es) for the most effective handling of the BP Oil Spill as it is actually taking place (not in retrospect). Using one of...
A:
To advise the CEO of BP on applying mid 20th century leadership approaches to the effective management of the BP oil spill we would recommend using a combination of contingency theory and transformati......
Q:
Pickle Corporation issued nonvoting preferred stock with a fair market value of $4,000,000 in exchange for all the outstanding common stock of Sickle Corporation. On the date of the exchange, Sickle...
A:
Solution Answer C 4000000......
Q:
What is the role of the feedback loop in the basic communication process? How can the sender and receiver use it to improve communication effectiveness?
A:
Role of the Feedback Loop Information Verification The feedback loop allows the receiver to verify their understanding of the message sent by the send......
Q:
Debate the necessity of the USA Patriot Act with regards to the NSA gathering data and voice conversations from world leaders in October 2013.
A:
The USA PATRIOT Act enacted shortly after the 9 11 attacks in 2001 was designed to enhance national security efforts by granting the U S government broader surveillance powers With regards to the NSA......
Q:
Open and use Spotify or Deezer and identify how data is transformed into useful information to personalise its services to consumers.
A:
User Registration and Profiles When users sign up for these services they provide information such as their name age gender and music preferences This......
Q:
Search the Web for big data and healthcare. How relevant are the two terms in current global debates?
A:
Big data and healthcare are highly relevant and interconnected terms in current global debates Here s why Data Driven Healthcare Big data has revolutionized the healthcare industry by providing the me......
Q:
Name two applications of ES in finance and describe their benefits.
A:
1 Risk Management with Enterprise Systems Enterprise systems ES play a significant role in risk management within the finance industry These systems help financial institutions identify assess monitor......
Q:
An acid that has two different pK_a values is also called a ______________ acid
A:
An acid that has two different pK a values is also called a concentr......
Q:
Repeat Exercise 16.6 using the t-test of the coefficient of correlation. Is this result identical to the one you produced in Exercise 16.6?
A:
Rejection region or E......
Q:
A company purchased a mine of Rs. 50,000. Its scrap value is Rs. 5,000 and expected working life is 9 years. 1,00,000 units were expected to be produced during its working life. Units produced in...
A:
Correct option is B Rate of deprecia......
Q:
Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the office equipment for the year is $10,000. Employee salaries are paid twice a month, on the 22nd for...
A:
Step 1 of 3 A Explanation for the journal entries 1 The entry reduces equipment by 10 000 However th......
Q:
Talladega Enterprises borrowed $32,000 from a local bank on July 1, 2013, when the company was started. The note had a 10 percent annual interest rate and a one-year term to maturity. Talladega...
A:
Talladega Enterprises Effect of Events on the Accounting Equation 2013 an......
Q:
The degree of operating leverage for Dousmann Corp. and PCB Co. are 1.4 and 5.6, respectively. Both have net incomes of $50,000. Determine their respective contribution margin s.
A:
Degree of operating leverage Contribution ma......
Q:
If the monthly machine repair and maintaneance cost X in a certain factory is known to be normal with mean $12000 and standard deviation $2000, what is the probability that the repair cost for the...
A:
The complementary eve......
Q:
Presented below is an incomplete income statement and incomplete comparative statements of financial position of Bondi ASA. Additional information: 1. The accounts receivable turnover for 2020 is 8...
A:
Net accounts receivable 12 31 20 1 050 000 2 625 000 Net accounts receivable 12 31 20 1 57......
Q:
(X B) (Y A) Determine the truth values of the following symbolized statements. Let A, B, and C be true and X, Y, and Z be false. Circle your answer.
A:
Click to View...
Q:
The Sedona Company is dedicated to making products that meet the needs of customers in a sustainable manner. Sedona is best known for its KLN water bottle, which is a BPA-free, dishwasher-safe,...
A:
1 Conversion costs incurred in March 68 850 Equivalent units of work Units completed and tra......
Q:
observe a conversation between two people and comment on both their verbal and nonverbal behaviors during the interaction. First listen to either a conversation you observed outside of your home,...
A:
I observed a conversation between two individuals at a coffee shop They were sitting at a small tabl......
Q:
1. As its customer base grows and becomes more diversified, how will the information requirements of the IDI supply chain change? 2. Given its anticipated volume growth and inventory variety...
A:
1 IDIs world is about to get much more complex Moving from small build to order quantities to large shipments will require IDI to have a much better handle on inventories of production materials procu......
Q:
Answer both of the following questions: 1. Look up the exchange rate of the U.S. dollar for another currency in a country you may wish to visit in the future - whether to go on vacation, visit...
A:
given data 1 The exchange rate of the dollar vis the rupee is what is being considered The exchange......
Q:
how do you believe a project manager should decided that one estimate is better than another when scheduling project work if you were the project manager in this case study, which estimate would you...
A:
How do you believe a project manager should decide that one estimate is better than another when sch......
Q:
A centrifugal pump rotating at 1450 rpm discharges 0.015 m 3 /s of water. Its impeller has internal and external diameters of 200 mm and 400 mm, respectively. Width of the impeller at the inlet is 15...
A:
Pressure......
Q:
Which of the following gifts is a deductible contribution? a. A gift of $100 to a homeless person b. A $500 gift to the Democratic National Committee c. $1,000 spent on church bingo games d. A $200...
A:
b A 500 gift to the Democratic National Committee In the context of tax deductions for charitable co......
Q:
Which of the following items is not deductible as a miscellaneous deduction on Schedule A? a. Investment expenses b. Gambling losses to the extent of gambling winnings c. Unreimbursed business...
A:
The Tax Cuts and Jobs Act TCJA passed in 2017 eliminated miscellaneous itemized deductions......
Q:
Which of the following statements is true with regard to the classification of employment-related expenses? a. A self-employed taxpayers business travel expenses are deductible as itemized...
A:
c Unreimbursed employee business expenses are deductible as deductions for adjusted gross income Opt......
Q:
What form does an employee use to report expenses that are fully reimbursed by an employer under an accountable plan? a. Schedule D b. Schedule A, Miscellaneous Itemized Deductions c. Schedule C d....
A:
e No form the expenses are not reported as income to......
Q:
Which of the following is correct for Qualified Tuition Programs? a. Contributions are deductible, and qualified educational expense distributions are tax free. b. Contributions are not deductible,...
A:
b Contributions are not deductible and qualified educational expe......
Q:
1) Write a balanced chemical equation for the following acid/base reactions. Identify the acid, base, conjugate base and conjugate acid pairs of the reaction. Example: Hydrobromic acid dissolved in...
A:
a Hydrosulfuric acid dissolved in water H2S aq H2O l H3O aq HS aq acid......
Q:
Find the numerical value of each expression. (a) sech 0 (b) cosh -1 1
A:
a b......
Q:
Utilizing the Routh-Hurwitz criterion, determine the stability of the following polynomials: (a) s2 + 5s + 2 (b) s3 + 4s2 + 8s + 4 (c) s3 + 2s2 - 6s + 20 (d) s4 + s3 + 2s2 + 12s + 10 (e) s4 + s3 +...
A:
a Given s 2 5s 2 we have the Routh array Each element in the first column is positive thus the sy......
Q:
By Nyquist stability criterion determine the stability of closed loop system, whose transfer function is given by G(s) H(s) = (s+2) / (s+1) (s-1). Comment on stability of open loop and closed loop...
A:
Click to View...
Q:
A negative unity feedback system has a loop transfer function where T = 0.1 s. Show that an approximation for the time delay is Using obtain the root locus for the system for K > 0. Determine the...
A:
The expansion for e Ts is If Ts 1 then where a b c......
Q:
QI: Obtain the closed loop transfer function for the system whose block diagram is shown in fig.(1) 3 Y(s) 2 +. X(s) s+2 s+2 s+2 Fig. (1)
A:
Click to View...
Q:
The unbalance of the rotor of a 180-kg motor is equivalent to a mass of 85 g located 150 mm from the axis of rotation. The pad which is placed between the motor and the foundation is equivalent to a...
A:
Then So Pm mrov 85 10 kg......
Q:
Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid...
A:
a 21 780 Purchase of 23 760 24 000 24......
Q:
{[(G N) H] [(G H) P]} (N P ) Use truth tables to determine whether the following symbolized statements are tautologous, self-contradictory, or contingent.
A:
Click to View...
Q:
Beyers Corporation provides security services. Selected transactions for Beyers are presented below. Oct. 1 Issued common stock in exchange for $66,000 cash from investors. 2 Hired part-time security...
A:
a Date Account Titles Debit Credit Oct 1 Cash Common Stock 66 000 66 000 2 No entry 4 Rent Expense C......
Q:
Harry Hands is the sole proprietor of a business entity involved in the repair and servicing of antique clocks. The entity trades under the name of The Grandfather Clock. . On 1 March 20X1 Harry...
A:
SOLUTION a Statement of Profit or Loss of The Grandfather Clock for the year ended 28 February 20X2......
Q:
Which 3 statements are correct regarding reconciling a bank account in QuickBooks Online? To begin the reconcile process, you need to enter the statement ending date and ending balance from the...
A:
The following are three statement s correct TO begin the neoncile p......
Q:
3. Differentiate between the following types of movement observed in a wet mount: true motility, Brownian motion, water current movement.
A:
With true motility cells can exhibit freelance movement in some c......
Q:
Determine which of these three processes are capable: Standard Lower Upper Spec Process Mean Deviation Spec 1 7.5 .10 7.0 8.0 2 4.6 .12 4.3 4.9 6.0 .14 5.5 6.7 Process 1 Process 2 Process 3 None of...
A:
Click to View...
Q:
A takes data as its input, performs a numeric operation on this data, and returns a numeric value.
A:
Click to View...
Q:
Think about the apples we eat. They are in the genus Malus which is a member of the rose family, Rosaceae, along with roses, peaches, cherries, and even strawberries plus many other familiar plants....
A:
Woodiness in the rose family Rosaceae If the ancient ancestor of the rose family and its members including apples was indeed a tree then woodiness the......
Q:
At the end of the 19th century, taxonomists adopted the goal of developing a natural system of classification. In a natural system, which kinds of organisms are classified together?
A:
In a natural system of classification taxonomists aim to group organisms based on their ev......
Q:
In Problems 3138, match each of the graphs (A) through (H) to one of the following polar equations. =6 TIIV 0 TE = f T = 5m + 9 = T 5T = 1/ TV VIN !! FIN 0 0 (A) I FIN AWO 0=37 (E) 3 0=0 0=1 7T 0=0 =...
A:
Given that 3 4 N......
Q:
For fossils, we often must use a mix of artificial and natural classification. What is a form genus? If you found a specimen of fossil woodbut only wood, with no leaves or cones or barkand it looked...
A:
A form genus in the context of paleontology and the study of fossils refers to a taxonomic classific......
Q:
One of the critical goals of biological nomenclature is to provide each species with a ______________ name. After the discovery of evolution by natural selection, taxonomists realized that the most...
A:
One of the critical goals of biological nomenclature is to provide each species with a unique and un......
Q:
The rigid bar AOB is pinned at O and connected to aluminum and steel rods. If the bar is horizontal at a given temperature, determine the ratio of the areas of the two rods so that the bar will be...
A:
The detailed......
Q:
An access route is being constructed across a field (Figure Q8). Apart from a relatively firm strip of ground alongside the field's longer side AB, the ground is generally marshy. The route can...
A:
Let ACEX BC 50 X CD Let rete of coustruition......
Introduction To Numerical Methods In Chemical Engineering 1st Edition - ISBN: 8120340183 - Free Book