Calculate the Gross Profit Ratio from the following information :- 2010 2011 ales (Revenue from Operations) Fross Profit 1,20,000 30,000 1,80,000 36,000
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- The revenue cost statement for a popular grocery store owned and operated by John Mathew is presented below; John Mathew owns and operates a corner grocery store.John works full time as the manager, chief cashier, and janitor.John had $ 140,000 worth of refrigeration and other equipment invested in the store. Last year, John's total sales (revenue)were 180,000. During the the year he incurred the following costs: Groceries wholesale $ 76,000, Utilities $ 4000 Taxes$ 5000, Advertising $ 2000, Labor services $ 12000. If John had invested his funds he would have earned 5% interest. (Interest foregone on the $140,000* 5%) Do not include the investment of $ 140,000, only the interest forgone. If the building that John owned was not being used as a grocery store , it could be rented for $ 1000 a month. (Rental income is thus forgone.). In addition, since John is tied up working in the the grocery store a $ 50,000 managerial position with the local jewel is gone.( Salary forgone) Calculate…Suppose a firm has the following expenditures per day: $250 for wages and salaries, $50 for materials, $60 for equipment, and $40 for rent. The market wage for the manager is $120 per day but the owner-manager does not draw a salary. Assume the daily revenue is $420. What is the accounting profit for the firm described above? Just give equation formula.Find the level of the accounting profit Explicit cost is given as = $ 130 Total revenue = $ 190
- According to the data from a company, the marginal revenue of a product (in billions of dollars per year) is approximated by 3.94 + 0.06x + 0.012x^2 , where x = 0 corresponds to 1987. what was rhe total revenue from the beginning of 1998 through the end of 2004?E1 Agroscience Company, Cypress, TX manufactures a certain product with estimated variable costs, per unit, V =0.10Q – 40 and aggregated fixed costs of $40,000. The price-quantity demand relationship for this product is P = −0.5Q + 900, where P is the unit sales price of the product and Q is the annual quantity demand. ● Total cost = Fixed cost + Variable cost ● Revenue = Quantity Demand × Price ●Profit = Revenue − Total cost a) Develop the equations for total cost and total revenue. b) Find the breakeven quantity. c) What profit is earned if i) total cost is minimized and ii) total revenue is maximized? d) Which of the strategy will be better for the company to adopt to optimize their profit, is it to minimize total cost or maximize total revenue? Give reason for your choice. e) What is the company’s maximum possible profit?Calculate the loss incurred by the firm if the total revenue is $630 and the total cost are $900
- The graph shows the cost curves are they profit maximizing firm in a competitive market. If the market price is $30 and the firm produces at the profit maximizing quantity, what is the total variable cost A: $5400 B: $7200 C: $3960 D:A car wheel making company has the following data related to cost: Total Cost = $ 15000 + 1000X and Total Revenue = 2500X, where X is the number of wheel. Calculate the amount profit or loss required to make X = 1500 wheels.Calculate the total revenue of the firm when it is given that the accounting profit is $600 and the explicit cost is $240
- Davis Stores sells clothing in 15 stores located around the southwestern United States. The managers at Davis are considering expanding by opening new stores and are interested in estimating costs in potential new locations. They believe that costs are driven in large part by store volume measured by revenue. The following data were collected from last year’s operations (revenues and costs in thousands of dollars). Store Revenues Costs 101 $4,120 $4,244 102 2,247 2,934 103 5,768 5,211 104 4,022 4,048 105 2,944 3,736 106 4,063 3,389 107 6,914 5,059 108 1,809 2,474 109 5,516 4,768 110…SITUATION: You are thinking about becoming a Paradise Coffee franchisee. Franchisees are offered a business specializing in producing an exclusive line of exotic coffee drinks (similar to Starbucks). Franchisees have had good success in towns without a Starbucks (Paradise franchises gross $220,000 sales on average per year, and you believe you can gross as much, too). You will have to pay Paradise Coffee, Inc., a franchise fee of $3,000 a year plus 2.5% of gross sales. You will also pay an annual National advertising fee of 3% of gross sales. Paradise requires that you use their logo-imprinted goods (plates, cups, napkins). They are purchased in bulk from Paradise and will cost you $40,000 per year. You also have to use their special Paradise Roast coffee beans, which cost $12.00 per pound. You estimate you will use 400 pounds of beans a year. Other food ingredients (syrups, biscotti, whipped cream, soft drinks, etc) will cost $18,000 a year. You will have to hire three…Differentiate between Explicit and Implicit Costs, Accounting and Economic Profit. The revenue cost statement for a popular grocery store owned and operated by John Mathew is presented below; John Mathew owns and operates a corner grocery store.John works full time as the manager, chief cashier, and janitor.John had $ 140,000 worth of refrigeration and other equipment invested in the store. Last year, John's total sales (revenue)were 170,000. During the the year he incurred the following costs: Groceries wholesale $ 76,000, Utilities $4,000 Taxes $6,000, Advertising $2,000, Labor services $12,000. If John had invested his funds he would have earned 5% interest. (Interest foregone on the $140,000* 5%) Do not include the investment of $140,000, only the interest forgone. If the building that John owned was not being used as a grocery store , it could be rented for $1,500 a month. (Rental income is thus forgone.). In addition, since John is tied up working in the the grocery store a…
