BUSINESS HIGH SCHOOL

Holly Farms has sales of $581,600, costs of $479,700, depreciation expense of $32,100, and interest paid of $8,400. The tax rate is 42 percent. How much net income did the firm earn for the period? A. $25,78835,612

$43,380

$45,671

$45,886

Answers

Answer 1
Answer:

Answer:

B. $35,612

Explanation:

The net income which shall be earned by the Holly Farms shall be determined through following mentioned formula:

Sales                                    $581,600

Costs                                   ($479,700)

Depreciation expense        ($32,100)

Interest expense                 ($8,400)

Income before tax               $61,400

Tax@42%                            ($25,788)

Net income for year            $35,612

So based on the above discussion, the answer is B. $35,612

Related Questions

Would someone who is a police officer have a job or a career? Be sure to explain your answer.PLEASE HELP ITS DUE TODAY
Which statement of cash flow method would require the disclosure of the noncash transaction of acquiring a factory financed entirely by issuing a 10-year note payable?
A cost, which does not involve cash outlay, is called: a. Historical cost b. Imputed cost and c. Out of pocket cost
In production, what is a flexible factor that can change in amount or usage?a. variable factor b. invisible factor c. fixed factor d. produced factor
When production is very high but demand is very low, it can lead to a recession. a recovery. prosperity. the peak.?

________ pricing involves setting prices based on the costs for producing, distributing, andselling the product plus a fair rate of return for the company's efforts and risks.A) Value-based
B) Fixed cost
C) Cost-based
D) Variable

Answers

Answer:

C) Cost-based

Explanation:

Cost-based based pricing is a pricing strategy where price is a mark up of cost of production. Price is the sum of cost of production and an extra amount to account for profit.

Value based pricing is setting prices at the consumers' perceived value for the product.

Fixed pricing is when price remains unchanged over a long period of time.

Variable pricing is when price changes based on location, region and other factors

I hope my answer helps you

Traditionally, department stores almost exclusively offered soft goods. But now, most department stores focus on selling both hard and soft goods. Group of answer choices True False

Answers

Answer:

False

Explanation:

Traditionally, department stores sold both soft goods and hard goods. But now, most department stores focus almost exclusively on soft goods.

Soft goods refers generally to clothing and other textiles like bedding and fabrics.

Hard goods refers to a broad range of products like appliances, furniture, tools, electronics, etc.

​Lydia, a minor, charges the cost of a smartphone at a Mobile Devices & Minutes store. Two nights later, Lydia loses the phone at Natural Foods restaurant. She disaffirms the phone’s purchase. Lydia owes Mobile Devices the reasonable value of the phoneA)​ if it is deemed a necessary
B)​ if it is deemed a luxury.
C) ​if it is deemed unique.
D)​ under no circumstances.

Answers

Answer:

A)​ if it is deemed a necessary good

Explanation:

Minors are not usually bound by a contract, and most of the time they can avoid liability under a contract. Minors can only sign a valid contract if it includes something that is essential for them. Medicines, food and medical services are the only things that are usually considered essential for a minor.

So the store has to prove that selling her the cell phone was a necessity, and something essential for her. It is possible to prove that it was a necessity, but it is something very difficult to do.

But the fact that the contract is not valid doesn't mean that Lydia can do whatever she wants. Her parents are responsible for returning the cell phone or since she lost it, they are responsible for paying it.

The weighted-average method a. calculates an average unit cost by dividing the total cost of goods sold by the total units sold.
b. calculates an average unit cost by dividing the total cost of goods available for sale by the total units of goods available for sale.
c. calculates an average unit cost by adding the total cost of goods available for sale to the total units of goods available for sale.
d. none of the above

Answers

The weighted average method is used to assign the average cost of production to a product. Weighted average costing is commonly used in situations where:

Inventory items are so intermingled that it is impossible to assign a specific cost to an individual unit.The accounting system is not sufficiently sophisticated to track FIFO or LIFO inventory layers.Inventory items are so commoditized (i.e., identical to each other) that there is no way to assign a cost to an individual unit.

The company president meets with senior managers to determine what is causing a problem with the company's best-selling computer microchip. They discuss whether the cause might be a modification that was made in the manufacturing process. Which management function is the group performing?

Answers

Answer:

Controlling Function

Explanation:

According to my research on the different management functions, I can say that based on the information provided within the question the management function that the group is performing is the Controlling Function. This focuses on measuring performance and making sure that all the processes in an organizational design are being met accordingly in order for the Organizations vision to be fulfilled.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

Is Investing in collectibles is very risky?

Answers

Collectibles can be risky. Because the taste of fashion tends to change, what's in today may not be in tomorrow. But then again it can be that's the risk.
Other Questions
Quick Eats is a fast-food restaurant that has recently entered the hospitality industry. Since most of its competitors are pursuing a low-cost position and doing well, Quick Eats also wants to adopt the same strategy. Which of the following will be a likely implication of this decision?A. Quick Eats will face low profit potential.B. Quick Eats will be able to create higher value for its customers.C. Quick Eats will be better placed to gain a competitive advantage in the industry.D. Quick Eats will not face any direct competition in the industry.
According to the Taylor​ rule, the Fed should raise the federal funds interest rate when inflation​ ________ the​ Fed's inflation target or when real GDP​ ________ the​ Fed's output target.
one way to resolve agency problems is to align compensation with company performance. which of the following is an example of such alignment? group of answer choices an hourly worker for a retail company who is paid for time spent working a major league baseball manager who is paid based on his team's winning percentage a salesperson for a manufacturer who is paid a commission based on her individual sales a program director for an event company who is compensated based on the number of participants in individual events he organizes
Gameware recently entered the German market. Gameware executives also wanted to enter the Canadian market but had to delay the entry because of limited resources. What type of costs will Gameware incur as a result of being unable to enter the Canadian market?