Janice owns a business that builds and sells custom skateboards. Last year she sold 480 skateboards...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Janice owns a business that builds and sells custom skateboards. Last year she sold 480 skateboards for $200 each. To make the boards she purchased wood, wheels, paint, and other components that cost $36 per board. She hired two part-time employees whom she paid $6000 each. She also invested in tools and manufacturing equipment that cost $13400. (a) Calculate Janice's total revenue. (b) Calculate Janice's total value added. (c) Calculate Janice's total profit. (d) Explain why your answers for parts a, b, and c above are different. Janice owns a business that builds and sells custom skateboards. Last year she sold 480 skateboards for $200 each. To make the boards she purchased wood, wheels, paint, and other components that cost $36 per board. She hired two part-time employees whom she paid $6000 each. She also invested in tools and manufacturing equipment that cost $13400. (a) Calculate Janice's total revenue. (b) Calculate Janice's total value added. (c) Calculate Janice's total profit. (d) Explain why your answers for parts a, b, and c above are different.
Expert Answer:
Answer rating: 100% (QA)
a Calculate Janices total revenue Total Revenue Number of Skateboards Sold Price per Skateboard Tota... View the full answer
Related Book For
Posted Date:
Students also viewed these economics questions
-
4) Continuous glass fibers are introduced in a unidirectional orientation into (H) kg of an aluminum alloy matrix. The volume of the composite is desired to be 2500 cm. a) Calculate the amount (kg)...
-
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...
-
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...
-
The Justice Department has been asked to review a merger request for a market with the following four firms. Firm Assets A .......... $156 million B .......... 130 million C .......... 45 million D...
-
Genetic material acts as a blueprint for an organism's traits. Explain how Griffith's experiments indicated that genetic material was being transferred to the type R bacteria.
-
Write a short program that asks for your height in integer inches and then converts your height to feet and inches. Have the program use the underscore character to indicate where to type the...
-
How does an individual know if all cash transactions have been properly accounted for on the statement of cash flows?
-
The external auditors for Heart Health Procedures (HHP) are currently performing the annual audit of HHPs financial statements. As part of the audit, the external auditors have prepared a...
-
Year Stock X Stock Y Market 2 0 1 5 1 3 % 1 3 % 1 3 % 2 0 1 6 1 7 7 1 1 2 0 1 7 - 1 3 - 4 - 1 0 2 0 1 8 5 3 1 2 0 1 9 2 2 8 1 5 Assume that the risk - free rate is 4 % and the market risk premium is...
-
Personal Philosophy (aka Mission Statement): This section will provide inner insights about you. Explain your values and convictions, or the "rules" by which you live your life? 2. Demographic...
-
In your own workplace, can you give a good example of a direct cost? An indirect cost?
-
Have you ever in the course of your work reviewed a financial report that applied inflation factors? If so, were you able to see the assumptions used to apply the factors? If not, why not? Please...
-
Do you believe that grouping expenses by diagnoses and procedures (based on type of services provided) is better to use for control and planning than grouping expenses by care setting (based on...
-
What is a long-term plan?
-
How do you think you would use break-even analysis?
-
Your town has a bill or a proposal to criminalize prostitution. You are appearing at a city council meeting to present an argument as a liberal feminist What would you argue?
-
To balance the chemical equation SiH3 + O2 SiO2 + HO, you could introduce coefficients a, b, c, d and write aSiH3 + bO2 cSiO + dHO then write linear equations for each element. The equation for Si...
-
LowFare is a no-frills airline that provides daily shuttle service in the northeast United States. Passengers are predominantly businesspeople who travel between New York and Boston for the day....
-
J Bryant, Ltd. is a local coat retailer. The stores accountant prepared the following income statement for the month ended January 31. Bryant sells its coats for $250 each. Selling expenses consist...
-
The following list includes activities that are performed in a physicians office. Classify each activity as value-added or non-value-added. For each non-value-added activity, state whether it can be...
-
Camille Stibbe is general manager of Alden Corporation. She suggests that the budgeted income statement and the cash budget seem to show the same information. Therefore, she recommends that one of...
-
Thomas Baker, president of Brundage Corporation, says he has observed that an increase in sales almost always results in an increase in net income. Therefore, he is considering recommending that the...
-
From net sales to the number of warehouses, the ten-year operating and financial highlights on pages B-2-B-3 of Appendix B in this textbook provide a historical perspective to Costco's growth. This...
Study smarter with the SolutionInn App