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subtract the gross from the profit

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What method calculates the cost of goods sold based on the most recent purchases?

subtract the gross from the profit


What is the activity method of depreciation?

The activity method of depreciation calculates an asset's depreciation based on its usage or production levels rather than a fixed time period. This method allocates costs based on the actual activity, such as hours used or units produced, providing a more accurate reflection of the asset’s wear and tear. It's particularly useful for assets whose value diminishes in relation to their operational output. This approach ensures that depreciation aligns with the asset's contribution to revenue generation.


Which method of depreciation would you use if you were to receive a bonus which is based on net profit?

which method of depreciation to use when bonus is received that is based on net profit


How do you calculate the value of closing stock?

The value of closing stock can be calculated using various methods, including the First-In, First-Out (FIFO), Last-In, First-Out (LIFO), or the Weighted Average Cost method. To determine the closing stock value, you need to assess the inventory at the end of the accounting period, accounting for any purchases and sales made during that period. The chosen method will affect the valuation based on the cost of goods sold and remaining inventory. Ultimately, the formula is: Closing Stock = Opening Stock + Purchases - Cost of Goods Sold (COGS).


Is Overhead allocated using a percentage-based or quantity-based price?

Overhead can be allocated using either a percentage-based or quantity-based method, depending on the costing system in place. In a percentage-based approach, overhead is applied as a percentage of direct costs, such as direct labor or materials. In contrast, a quantity-based method allocates overhead based on a specific activity level, such as machine hours or units produced. The choice of method typically reflects the nature of production and the business’s accounting practices.

Related Questions

What method calculates the cost of goods sold based on the most recent purchases?

subtract the gross from the profit


If you sort table data from the most recent purchase date to the oldest purchase date in what order have you sorted the data?

You have sorted the data in descending order based on the purchase date. This means that the most recent purchases appear at the top of the table, while the oldest purchases are listed at the bottom. This type of sorting allows for quick access to the latest transactions.


What is niblack?

Niblack is a method for local thresholding in image processing. It calculates a separate threshold for each pixel based on the local neighborhood of that pixel. This technique is commonly used in binarization tasks for enhancing contrast in images.


What calculates the payments for loan based on constant payment at a constant interest rate?

Simple interest.


Who calculates the consumer price index?

The United States Bureau of Labor Statistics calculates the consumer price index. The CPI is calculated monthly based on goods and services purchased by the average urban household.


What function calculates the payment for a loan based on constant payments at a constant interest rate?

The PMT function.


Can I receive refunds for my purchases on united.com?

Yes, refunds for purchases made on united.com are typically available based on the airline's refund policy.


What is a person trained in mathematics who calculates risk based on loss percentages and determines insurance rates and premiums?

An Actuary.


What is an online consumer identity?

The way a person is viewed by companies based on his or her purchases


What is the difference between Gross Domestic Product and Gross National Product?

The Gross Domestic Product and Gross National Product are measurements of the value of the total worth of a nation. Domestic product calculates based on the physical borders of the country, whereas the National product calculates based on its citizens, even if those citizens are out of the country.


What is method of ball formula?

The Method of Ball formula, often used in sports and physical education, calculates the optimal trajectory and distance of a projectile, such as a ball, based on initial speed, launch angle, and environmental factors like air resistance. It utilizes principles from physics, particularly kinematics and dynamics, to predict how far and high the ball will travel. This method helps athletes and coaches optimize performance and improve techniques in various ball sports.


When an animal is selected based on its offspring what is the selection method by?

when an animal is selected based on its offspring, the selection method is by what