A leading U.S. clothing manufacturer (“Harner Co.”) has steadfastly refused to move its’ manufacturing facilities overseas where labor costs are much lower. All its competitors manufacture overseas and sell merchandise in the U.S. cheaper than Harner Co. Harner’s profits are dropping, but thousands of employees who will find it hard or impossible to obtain similar jobs will be fired if Harner manufactures overseas. What should Harner do? Apply the theories of social responsibility of business.
Part A: Answer each of the following questions. Be sure to show all of your work and calculations.
Part A: Answer each of the following questions. Be sure to show all of your work and calculations. 1. Woody's Cafe's real estate tax of $1,110.85 was due on November 1, 2013. Due to financial problems, Woody was unable to pay his cafe's real estate tax bill until January 15, 2014. The penalty for late payment is 81/ 4% ordinary interest.Answer the following questions: (a) How much is the penalty Woody must pay (b) What did Woody pay on January 15? Round all answers to the nearest cent. 2. Jane's April 1 inventory had a cost of $48,000 and a retail value of $70,000. During April, net purchases cost $210,000 with a retail value of $390,000. Net sales at retail for Jane for April were $280,000. Calculate the cost of ending inventory using the retail inventory method. (Round to the nearest hundredth percent.) 3. Use the below information to calculate the (a) net sales, (b) gross profit, (c) total operating expenses, and (d) net income.Sales returns $700 Rent expense $1,...
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