Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Janice owns a business that builds and sells custom skateboards. Last year she sold 480 skateboards for $200 each. To make the boards she
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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
a Calculate Janices total revenue Total Revenue Number of Skateboards Sold Price per Skateboard Tota...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started