Homework Help: Consumer Math

Posted by Anonymous on Monday, April 16, 2012 at 1:12am.

Joey-O's Organic Farm Financial Plan

Revenues Budgeted Amounts

From Farming $70,000
From Sales 8,200
Total $78,200

EXPENSES :

Fertilizer $3,000
Pesticides 400
Feed 1,500
Equipment 1,700
Salaries 21,200
Supplies 300
Utilities 2,800
Insurance and
interest 14,900
Repairs 2,100
TOTAL $47,900

PROFIT :
Gross Profit $_____
Tax (at 18%) $_____
Net Profit $_____

30.
What was Joey-O's farm's gross profit?
a) $47,900
b) $30,300
c) $78,200

31.
How much tax did Joey-O's pay?
a) $3,030
b) $7,820
c) $5,454

32.
What was Joey-O's net profit?
a) $30,300
b) $24,846
c) $47,900

No one has answered this question yet.

Answer this Question

Related Questions

Accounting - Nafari Company's sales budget has the following unit sales ...
Accounting - Nafari Company's sales budget has the following unit sales ...
Math 116 - Q1) there are two plans available, but they only have 38 homes ...
Math 116 algebra - There are 38 houses in a new community available with two ...
finance 200 - · Complete using the financial statement below to calculate...
Finance 200 - How do I set this up? How do I do this? I'm not undestanding ...
fiance 200 - How do I set this up? What do I do? I'm really confused on what...
Accounting - Sales Revenue: $71,200 Cost of Goods Sold: (a) Gross Profit: $30,...
financial management - Using the following information, prepare a balance sheet ...
Cost Accounting - Incomplete manufacturing costs, expenses, and selling data for...

For Further Reading

First Name:
School Subject:
Answer: