Net sales for the year were $600,000 and cost of goods sold was $366,000 for the company’s existing products. a new product is presently under development and will have an expected selling price of not more than $59 per unit in order to remain competitive with similar products in the marketplace.

a. calculate gross profit and the gross profit ratio for the year.

b. what is the maximum cost per unit that can be incurred to manufacture the new product so that the product can be priced competitively and will not result in a reduction to the company’s gross profit ratio? (do not round intermediate calculations and round your final answer to 2 decimal places.)

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At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u. s. parent on bank deposits held in london d. interest received by a u. s. parent on a loan to a subsidiary in mexico e. principal repayment received by u. s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u. s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation