Friday
April 25, 2014

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

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