FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If Kingbird, Inc. has net sales of $481000 and cost of goods sold of $348000, Kingbird gross profit rate is 72%. 28%. 38%. 100%

image text in transcribed
If Kingbird, Inc. has net sales of $481000 and cost of goods sold of $348000, Kingbird gross profit rate is 72%. 28%. 38%. 100%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Business Continuity Plans Assess And Improve Your Performance Against ISO 22301

Auditing Business Continuity Plans Assess And Improve Your Performance Against ISO 22301

Authors: John Silltow

2nd Edition

058074342X, 978-0580743429

More Books

Students also viewed these Accounting questions

Question

★★★★★
In 2013, Kathleen Tweardy incurs $30,000 of interest expense related to her investments. Her investment income includes $7,500 of interest, $6,000 of qualified dividends, and a $12,000 net capital...

Answered: 1 week ago

Question

★★★★★
A 0.15-kg mass is attached to a vertical spring and hangs at rest a distance of 4.6 cm below its original position ( Figure 5.9). An additional 0.50-kg mass is then suspended from the first mass and...

Answered: 1 week ago

Question

★★★★★
Communicate indirectly to preserve harmony in work relationships

Answered: 1 week ago

Question

★★★★★
In 2014, Riverside began work on an outdoor amphitheater and concession stand at the citys park. It is to be financed by a $3,500,000 bond issue and supplemented by a $500,000 General Fund transfer....

Answered: 1 week ago

Question

★★★★★
5) For each year determine ACI and the capital losses to be carried forward to a later tax year. 2016 2017 2018 40,000 6,000 AGI excluding property transactions STCG STCL LTCG LTCL AGI including...

Answered: 1 week ago

Question

★★★★★
Check my wo Lukow Products is investigating the purchase of a piece of automated equipment that will save $120,000 each year in direct labor and Inventory carrying costs. This equipment costs...

Answered: 1 week ago

Question

★★★★★
I am responsible for paying all the bills at my company. I notice that we, the buyers, have received a shipment for which the bill of lading says, "freight prepaid". Am I correct that we will be...

Answered: 1 week ago

Question

★★★★★
Situation Roles: You = Account Manager at Amazon Para = Marketing Director at Blue Intelligence, Inc. Taylor = Your manager at Amazon Background: In addition to concerns over higher costs during your...

Answered: 1 week ago

Question

★★★★★
How can job costs be misrepresented? a.) Recording cost information for cost control. b.) Stating the level of completion to show performance. c.) Charging costs to the wrong jobs. d.) Assigning...

Answered: 1 week ago

Question

★★★★★
What are the major considerations for initiating a logistics alliance? In implementation? In maintenance?

Answered: 1 week ago

Question

★★★★★
Edward Lee manufactures and sells homemade wine, and he wants to develop a standard cost per litre. The following are required for production of a 250-litre batch: 120.00 litres of grape concentrate...

Answered: 1 week ago

Question

★★★★★
Define technical words and explain how you would make decisions about their use in your business messages. (Objective 1)

Answered: 1 week ago

Question

★★★★★
Give three examples of vague or abstract words and how they could be made more specific. (Objective 1)

Answered: 1 week ago

Question

★★★★★
Define the KISS principle of business communication and discuss the advantages of its use. (Objective 1)

Answered: 1 week ago

Previous Question Next Question