Through hard work and careful saving, Hans and his family have $152,000 to start a small specialty
Question:
Through hard work and careful saving, Hans and his family have $152,000 to start a small specialty foods business. The family estimates sales to customers will be about $4,500 per month during the first year. On the average, expected costs per month are budgeted as follows:
Wages for occasional labor ........$ 700
Utilities ............... $100
Rent on land and buildings ........1,200
Advertising .............. 300
Supplies .............. 75
Delivery costs ............ 225
Required
A. What is the projected monthly profit?
B. What is the expected annual return on investment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (11 reviews)
A Sales 4500 Wages for occasional labor 700 Utilities 100 Rent on land and build...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright
Question Posted:
Students also viewed these Accounting questions
-
Suppose you have decided to start a small business selling snacks from vending machines. You have secured a location for one candy vending machine in a local bookstore. Rental for the space will cost...
-
Suppose you have decided to start a small business selling snacks from vending machines. You have secured a location for one candy vending machine in a local bookstore. Rental for the space will cost...
-
Assume that you are going to start a small business of your own. Describe the business and discuss the following: What costs you would incur? What competition you might experience How you would...
-
What type of insurance policy insures against all risks of loss that are not specifically excluded by the policy? OA) Binder policy OB) Named peril policy OC) Specified peril policy OD) Open peril...
-
Virginia Technology is considering two alternative proposals for modernizing its production facilities. To provide a basis for selection, the cost accounting department has developed the following...
-
A jogger runs down a straight stretch of road with an average velocity of 4.00 m/s for 2.00 min. What is his final position, taking his initial position to be zero? Strategy Draw a sketch. The final...
-
As shown in Fig. P9.77, a vertical wind tunnel can be used for skydiving practice. Estimate the vertical wind speed needed if a 160-lb person is to be able to "float" motionless when the person (a)...
-
Assume that you have been hired by Willington, CPA, as a new staff assistant. He informs you that his approach to audits has always been to assess control risk at the maximum and perform all the...
-
Stangl Incorporated has provided the following data for the month of September. There were no beginning inventories, consequently, the direct materials, direct labor, and manufacturing overhead...
-
Grim Corporation has income and expenses for its current fiscal year, recorded under generally accepted accounting principles, as shown in the following schedule. In addition, a review of Grims books...
-
Provided below are four types of organizations and a list of organizations with which you are probably familiar. Associate each organization with a type of organization. Types of organizations...
-
You are considering opening a shop in a nearby mall that will sell specialty T-shirts. T-shirts, containing designs and words selected by customers, will be produced for customers on order. You will...
-
After a socket establishes a connection, which of the following mechanisms will your client program use to read data from the server computer? a. The Socket will fill a buffer with bytes. b. You will...
-
If Mr. Keating quits his job as a teacher to homeschool his own children, GDP a. stays the same because he is engaged in the same activity. b. rises because he now pays lower income taxes. c. falls...
-
If all quantities produced rise by 5 percent and all prices fall by 5 percent, which of the following best describes what occurs? a. Real GDP rises by 5 percent, while nominal GDP falls by 5 percent....
-
The largest component in the basket of goods and services used to compute the CPI is a. food and beverages. b. housing. c. medical care. d. apparel.
-
The goal of fundamental analysis is to a. determine the true value of a company. b. put together a diversified portfolio. c. predict changes in investor irrationality. d. eliminate investor risk...
-
The CPI measures approximately the same economic phenomenon as a. nominal GDP. b. real GDP. c. the GDP deflator. d. the unemployment rate.
-
Solve the systems in Problems 39-56 for all real solutions, using any suitable method. \(\left\{\begin{array}{l}100 x-y=0 \\ 50 x+y=300\end{array}ight.\)
-
In your audit of Garza Company, you find that a physical inventory on December 31, 2012, showed merchandise with a cost of $441,000 was on hand at that date. You also discover the following items...
-
Find the roots of the equations (a) x 2 + 2x + 2 = 0 (b) x 3 + 8 = 0
-
Indicate whether each statement best describes the allowance method or the direct write-off method. 1. Does not predict bad debts expense. 2. Accounts receivable on the balance sheet is reported at...
-
Dexter Company uses the direct write-off method. Prepare journal entries to record the following transactions. Mar. 11 Dexter determines that it cannot collect $45,000 of its accounts receivable from...
-
Sherman Co. began operations in Year 1. During its first two years, the company completed several transactions involving sales on credit, accounts receivable collections, and bad debts. These...
-
How can you use your understanding of diversity to develop your relationship-building skills in your healthcare career?,Explain ways in which religion can help or hinder individuals as they build...
-
A Quality Management System, often called a QMS, is a set of internal rules that are defined by a collection of policies, processes, documented procedures, and records. This system defines how a...
-
1. Mr. Alvis, the director of Match Lighting, has found himself with sorts of emails including customer complaints about incorrect order deliveries, periodic reports on products, stock, and sales,...
Study smarter with the SolutionInn App