Sales for the company were $177,000, the contribution margin was 37%, and the profit was $42,000. In the event that 6,000 units are sold, the total variable expenses come to $111,510.
The selling price per unit less the variable cost per unit is the contribution margin. The amount of sales revenue referred to as "Contribution" is the fraction that is not used to pay variable costs and hence helps to cover fixed costs. The revenue that remains after all variable costs have been subtracted from total sales is known as the contribution margin. It is a gauge of how profitable particular goods or services are. Contrarily, the profit margin is calculated as net income divided by total sales.
The margin of contribution is 177000 * 37%
margin of contribution = 177000 * 0.35 = $65,490
Total variable costs are 177000 - 65490 = 111510
In contrast, the variable cost ratio is 63% if the contribution margin is 37%. Therefore, variable expenses are equal to sales multiplied by 63%
Variable Expenses = 177,000 * 63%
Variable Expenses = 177000 * 0.63 = $111,510
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supreme inc. offers a 3-year extended warranty for all its products. on january 1, of the current year the company collects $45,000 relating to extended warranty contracts. what entry should supreme make on december 31, of the current year?
Journal Entry: Debit $45,000 from cash and credit it to deferred revenue.
The business must report $15,000 in deferred revenue and $15,000 in revenue from an extended warranty. The money that has been paid for the extended warranty contracts but has not yet been earned is shown as deferred revenue in the balance sheet. The money that has been made from the extended warranty contracts is shown in the revenue—extended warranty account.
Calculation:
Deferred revenue = $45,000 - $30,000 = $15,000
Revenue - extended warranty = $30,000
The $30,000 indicates the revenue generated by the extended warranty agreements. This is computed by deducting the amount that has not yet been earned ($15,000) from the total amount collected ($45,000.)
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sales $ 300,000 beginning merchandise inventory $ 20,000 purchases $ 200,000 ending merchandise inventory $ 7,000 fixed selling expense $ ? fixed administrative expense $ 12,000 variable selling expense $ 15,000 variable administrative expense $ ? contribution margin $ 60,000 net operating income $ 18,000
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold. Fixed selling expense is $30,000.
Cost of goods sold = $213,000 ($20,000 + $200,000 - $7,000).
The variable administrative expense ($12,000) shown above is calculated as follows:
(a) $ 300,000 in sales
(a) $ 60,000 contribution margin
Total variable costs (a) $ 240,000 (b)
(a) $ 240,000 in total variable costs
$ 213,000 in cost of goods sold
15,000 in variable selling expenses
(a) $ 228,000 cost of goods sold plus variable selling expenditure
(a) $12,000 Variable administrative expense
The fixed selling expense ($30,000) shown above is calculated as follows:
(a) $ 60,000 contribution margin
(a) $ 18,000 in net operating income
Total fixed costs (a) $ 42,000 (b)
Total fixed expenses (a) $42,000
(a) $ 12,000 fixed administrative costs
Fixed selling costs (a) $ 30,000 (b)
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Correct question:
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:
Sales $ 300,000
Beginning merchandise inventory $ 20,000
Purchases $ 200,000
Ending merchandise inventory $ 7,000
Fixed selling expense $ ?
Fixed administrative expense $ 12,000
Variable selling expense $ 15,000
Variable administrative expense $ ?
Contribution margin $ 60,000
Net operating income $ 18,000
Prepare a contribution format income statement.
absolute and comparative advantage problems for each of the next four problems, answer the three letters below (make sure you show your work to receive full credit): a. whether the problem is an input or out. b. which entity has the absolute advantage in each item (for example, dr. rhine has the absolute advantage in cleaning dishes while his wife has the absolute advantage in laundry). c. which entity has the comparative advantage for the products? within this answer, you should also tell me which entity is specializing in that item.
Consequently, the theory did not consider the possibility of multilateral commerce between nations. Free trade between nations was another tenet of the Absolute Advantage Theory. The protectionist policies established by various nations were not taken into consideration.
What is Absolute Advantage?Absolute advantage, as used in economics, refers to an economic agent's ability to generate more of a good than its rivals. This ability can be possessed by either an individual or a group. Absolute advantage was first mentioned by Scottish economist Adam Smith in his 1776 book "An Inquiry into the Nature and Causes of the Wealth of Nations," which defined it as a country's innate capacity to create more of a good than its rivals throughout the world.In order to explain the benefits of free trade on the global market, Smith also used the idea of absolute advantage. He postulated that countries' unquestionable advantages in certain commodities would enable them to profit simultaneously from imports and exports, further highlighting the significance of free international trade in the context of the global economic system.To Learn more About Absolute Advantage refer To:
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how much money can i withdraw from bank of america atm?
Your available account value may be withdrawn up to $700 every day. Your daily cap for purchases with credit cards made using your PIN is $300 of your accessible account balance.
What does the term "account" mean?Account is a ledger of debit entries that covers transactions that involve a particular asset (such as cash or accrued liabilities) or a particular individual or business. Account is also a report of transactions for a fiscal quarter that displays their balance.
What use does an account function?A monetary amount and a timeline of modifications to that balance are recorded in an account in accounting. A real account may be linked to the dollar balance.
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g you sell two put options expiring in 2 years with a strike price of $40. the current price of the underlying is $38, interest rate is 6% and the premium of the put option is $8. draw the profit diagram. what should be the share price two years from now so that you break exactly even (zero profit) on the trade? what should be the price that you make exactly $5 in profit?
To break even on the trade, the share price two years from now would need to be $40 (strike price) since at that point you would not have any loss or gain. To make exactly $5 in profit, the share price at expiration would need to be $35 ($40 - $5).
What is break even on the trade?The term "break-even" on a deal refers to a scenario in which all related costs and all associated revenues are equal. It is, in other words, the point at which the trader's account experiences neither a profit nor a loss. This value is often derived by subtracting the entry cost from the possible gain or loss from the deal. The trade is regarded as profitable if the potential profit exceeds the entrance cost. The deal is deemed worthless if the potential loss surpasses the price of entry.
According to question:
The profit diagram for selling two put options with a strike price of $40 and a premium of $8 would be a horizontal line at $16 (8*2) above the x-axis (since you receive the premium as soon as you sell the options). The line would start at $40 on the x-axis (strike price) and extend to the right. If the share price is below $40 at expiration, you would have a loss, if the share price is above $40 at expiration, your profit would be the difference between the strike price and the share price, up to the premium received.
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as a follow-up to her annual testing, isabella would like to conduct quarterly disaster recovery tests. these tests should include role-playing and introduce as much realism as possible without affecting live operations. what type of test should isabella conduct?
Isabella should perform a desktop crash recovery test. This is a type of test which involves a group of participants simulating a disaster scenario in a safe, controlled environment.
The purpose is to practice disaster response and test the recovery plan. The test should include role playing and as much realism as possible, but should not affect live operations. The group should consist of key personnel involved in disaster response, including executives, IT personnel, business unit leaders, and other stakeholders. The test should also include a facilitator who will lead the discussion and ensure that the objectives of the exercise are met.
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A merchandising business that sells to those who use or consume the goods. answer choices. a. retail merchandising business. b. wholesale merchandising business.
Retail merchandising business involves selling goods directly to consumers.
What is Retail merchandising?Retail merchandising is the process of selecting, pricing, and displaying products in a retail store in order to maximize sales and profits. It involves analyzing customer needs, creating a product mix that meets those needs, setting prices that are competitive yet profitable, and arranging products in an attractive manner.
This type of business typically operates in a physical store, such as a department store, grocery store, or specialty shop. Wholesale merchandising business involves selling goods to other businesses who then resell the goods to consumers. This type of business typically operates online or through a distribution network.
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financial accounting serves which primary function(s)? measures business activities. communicates business activities to interested parties. makes business decisions on behalf of interested parties.
Analyze a company's business operations and educate external users of such operations. Investors and creditors are the two groups who benefit most from financial accounting knowledge.
What is an Investors?A person who invests their money does so with the hopes of earning a profit or gaining an advantage in the future. The majority of the time, the investor purchases a particular type of property using this allocated funds. Investors are people or organizations that provide money to other people or organizations in the hopes of making a profit in the future. By definition, anyone who invests money in something qualifies as a shareholder. Pre-investors, passive investors, and active investors are the three categories of investors in a firm.For stock investors, dividends are a type of monetary remuneration. They stand for the portion of profits distributed to shareholders, typically on a monthly or quarterly basis.To learn more about Investors refer to:
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Your company will generate $68,000 in annual revenue each year for the next seven years from a new information database. If the appropriate interest rate is 8. 5 percent, what is the present value of the savings?
A production expense known as a variable cost can go up or down in response to shifts in a firm's manufacturing activities.
What causes such high interest rates?Therefore, why are bond yields increasing? The most straightforward argument is that rising inflation is the source of rising interest rates. The Federal Reserve raises interest rates in an effort to stifle inflation by curbing economic expansion. This trend is anticipated to last through the end of 2023 and into 2023.
What is an example of an interest rate?For instance, if we borrow $100 at 5% interest, your repayment to the lender will be $105 dollars. The money lender will profit $5. You might come across a variety of interests throughout.
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chase buys a car for $31,556. his car immediately starts depreciating, losing 10% of its value every year. how much will the car be worth in 10 years?
In 10 years, the car will be worth $7,338.80. This is because cars depreciate in value over time. This means that the car loses a certain percentage of its value every year. In this case it is 10%.
This means that each year the car is worth 10% less than the year before. This is why after 10 years the car will be worth $7,338.80, which is 10% of the original value of $31,556. This shows how important it is to consider depreciation when buying a car, as it can significantly reduce the value of the car over time. Depreciation is an important factor to consider with any large purchase as it can affect the value of the item over time.
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Answer:
$11,002.90
Explanation:
y = a(1–r)t
y = 31,556(1–0.1)10 Plug in values
y = 31,556(0.9)10 Subtract
y = 31,556(0.34867…) Simplify
y = 11,002.89685… Multiply
Round to the nearest cent.
11,002.89685… → 11,002.90
To the nearest cent, Chase's car will be worth $11,002.90.
a financial advisor schedule an introductory meeting
The initial encounter between a financial planning and a potential client is crucial since it establishes a client's first impression.
What exactly does financial planning entail?Establishing a company's ability to afford its strategic objectives and goals is the responsibility of financial planning. A business often develops a financial plan as soon as the vision and goals have been established.
Why is preparing your finances so important?With a well-defined financial plan, you have a measurable goal to work toward. You may make adjustments to help you get beyond any obstacles since you can track your progress, which removes any uncertainty or doubt about your decisions.
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identify whether each of the following events in this scenario occurs in the factor market or the product market.
In this scenario, the following events occur in the factor or product markets: Dmitri spends $350 on a good from a producer, so this is a part of the goods market (Product Market) Frances is a girl.
What is the connection between product and factor markets?Demand in the product market drives the factor market. The resources required to produce goods and services are created or obtained in sufficient quantities to meet product market demand. In effect, the factor market is dictated by the consumer market. Factor markets help the economy grow by providing entrepreneurs with the tools they need to put their ideas into action. Product markets provide goods and services to consumers while making money for producers. A factor market is a market in economics where factors of production are bought and sold. Factor markets allocate production factors such as land, labour, and capital and distribute income to owners of productive resources such as wages, rents, and so on. A factor market is a market in which production means, or factors, are traded. Input market is another term for factor market. Typically, businesses will buy and sell the resources required to produce goods and services for their customers.
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T/F efficiency means our economic pie is divided into equal slices
Efficiency means our economic pie is divided into equal slices. The given statement is False.
What is meant by efficiency?Efficiency is a measure of how well resources are being used to produce output. It is the relationship between the inputs (such as labor and capital) and outputs (such as goods and services) of an economic system. When a system is efficient, it can produce the most output with the least input.
For example, a factory that can produce a high volume of goods with a relatively small workforce is efficient. However, this does not imply that the distribution of the goods produced is equal. The owners of the factory may choose to keep a large share of the profits, while the workers may receive only a small portion of the income generated by the factory.
Efficiency is different from equity, which refers to the distribution of resources or benefits. A system can be efficient but not equitable if the benefits of the system are not distributed fairly among members of society.
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which of the following are characteristics of a gift tax charitable deduction? it is only for the amount of the charitable gift in excess of the annual exclusion amount. it allows up to 50% of the value of the gifted property to go to charity free of gift tax. the donee charity assumes any gift tax liability. it is available only for gifts to a qualified charity. a) ii and iii b) iii and iv c) i and iv d) i and ii
The answer is D) i and ii, It is only for the amount of the charitable gift in excess of the annual exclusion amount and allows up to 50% of the value of the gifted property to go to charity free of gift tax.
Which are characteristics of a gift tax charitable deduction?
The concept used in this question is the gift tax charitable deduction, which is a tax deduction available to individuals who make charitable gifts.This deduction allows them to reduce their total gift tax liability by deducting the amount of their charitable gift that is in excess of the annual exclusion amount and up to 50% of the value of the gifted property that is donated to charity free of gift tax.
The donee charity assumes any gift tax liability associated with the gift.
The explanations are as follows:
Step 1: A gift tax charitable deduction is available to individuals that make charitable gifts.
Step 2: Gifts to qualified charities may be deducted from your total gift tax liability.
Step 3: The amount of the charitable gift that can be deducted is limited to the amount in excess of the annual exclusion amount.
Step 4: In addition, up to 50% of the value of the gifted property may be donated to charity free of gift tax.
Step 5: The donee charity assumes any gift tax liability associated with the gift.
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what is the best way to avoid running out of money too quickly?
Set Spending Priorities. You need to start utilizing your money because it is your most important asset for increasing your wealth. Pay All of Your Bills. Find means of reducing spending.
Quick money-saving tips?Resign from any needless subscriptions and memberships. By using an app, automate your saving. If you earn a consistent income, set up automated bill payments. Alternate banks. Open a temporary certificate of deposit (CD) Register for loyalty and rewards programs.
What does the 70/20/10 spending rule entail?The largest portion, 70%, goes toward living expenditures, while 20% is allocated to paying back any debts or, if all of your debt has been paid off, to savings. Your "fun bucket," or the final 10%, is money set aside for the items you want.
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jake comes across a problem at work. he can identify the problem and its cause. which step should he take next in the problem solving process? a. choose a solution b. find an expert who can suggest solutions c. implement a solution d. evaluate various alternatives
Jake should take the next step in the problem-solving process by evaluating various alternatives. This means that he should consider different ways of solving the problem and its causes.
He should assess the pros and cons of each alternative, as well as the costs and benefits of each option. After coming up with the best course of action, he should seek out an expert who can provide him with further advice and guidance on how best to go about implementing the solution. Finally, he should put his chosen solution into practice and monitor its effects. This will allow him to determine if the solution is really effective and if any adjustments need to be made.
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the primary beneficiary of her husband's life policy found that no settlement option was stated in the policy on the date of her husband's death. who will select the settlement option in this case?
In this case, the beneficiary will select the settlement option. Generally, when no settlement option is stated in the policy, the beneficiary is allowed to choose the settlement option that best fits their needs and the terms of the policy.
Depending on the policy, the beneficiary may need to provide proof of death and other documentation before they can select the settlement option.
A beneficiary is a person (or entity) named to receive the advantages of property that belongs to another person. These benefits are frequently given to beneficiaries as a part of an inheritance.
"The insurance company will select the settlement option in this case." is the correct statement.
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an uncontrollable aspect of the domestic environment that can have a direct effect on the success of a foreign venture is
Political/legal forces, market circumstances, and competition are example of uncontrollable home elements that might negatively affect a foreign business enterprise.
Why is it termed legal?Law-abiding conduct is defined as being lawful, legal, legitimate, or licit. Lawfulness can refer to adherence with any type of legislation . Legal refers to something that is permitted by law either in compliance with the law, particularly as it is established or applied by the courts.
What do the laws are there to protect?It includes social, economic, and rights in addition to civil and political rights: Equality rights. Lack of Sensitivity. Right to liberty, liberty, and security of person. emancipation from servitude.
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what sport marketing giant was originally known as blue ribbon sports?
Nike was first introduced on January 25, 1964, by University of Oregon track athlete Phil Knight and his coach Bill Bowerman as Blue Ribbon Sports (BRS).
What used to be known as Blue Ribbon Sports?The American sportswear corporation Nike, Inc., formerly known as Blue Ribbon Sports, has its headquarters in Beaverton, Oregon (1964–1978). Bill Bowerman, the University of Oregon's track & field coach, and Phil Knight, a former student, established it as Blue Ribbon Sports in 1964.
What was the debut item from Blue Ribbon Sports?Phil Knight, the founder of Nike, did not begin his shoe business by creating his own but rather by selling imported Japanese shoes from the company Onitsuka. His first business was known as Blue Ribbon Sports. At track meets, he originally sold shoes out of the trunk of his car.
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All of the following are part of the FASB conceptual framework: (Select all that apply).A,Multiple select question.B,ElementsC, ObjectivesD, Recognition and measurementE, Assumptions
A,C,D, and E are all part of the FASB conceptual framework. The elements of the framework include assets, liabilities, equity, income, expenses, and gains and losses
What is liabilities ?Liabilities are a company's financial obligations or debts. They are usually listed on a company's balance sheet and can include items such as accounts payable, loans, mortgages, deferred revenues, and accrued expenses. Liabilities also represent the future sacrifices of economic benefits that an entity is required to make to other entities in order to settle a present obligation.
The objectives of the framework are to provide the basis for making accounting decisions, to guide the selection of accounting policies, and to provide a useful tool for resolving accounting issues. The recognition and measurement component of the framework includes the recognition and measurement of assets, liabilities, and equity, as well as the recognition and measurement of income and expenses. Finally, the assumptions component of the framework includes the economic entity assumption, the going concern assumption, the periodicity assumption, and the monetary unit assumption
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if all firms in an industry successfully engage in collusion, the resulting profit-maximizing price and output would be
If all firms in the industry successfully engage in collusion, the resulting profit-maximizing price and outcome would be the same as if the industry was a monopoly.
A firm is a for-profit business, generally comprised of a partnership that delivers professional services, such as legal or computation services. The theory of the firm posits that firms exist to maximize profits. Not to be baffled a firm, or a company is a business that trades goods and/or services for profit and contains all business arrangements and trades. A business firm has one or more locales that all have the same ownership and account under the same EIN. A firm may use raw, capital, or people-related resources to develop functional success.
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the radius of the procedural outer area of class c airspace is normally
20 NM, An Outer Area is indeed the procedural counterpart to Class C airspace, even if it doesn't call for any regulatory action. An outer area's normal radius from the main Class C airport is 20 nautical miles.
What are the boundaries of Category C airspace on the sides?Class C airspace is constructed as two concentric rings centred on the airfield reference point using Standard Lateral Dimensions. The radius of the inner circle, also known as the surface, should be 5 NM. The outermost concentric circle shouldn't surround the airport point of comparison by more than 10 NM.
What distinguishes Class C from Class D airspace?Around terminals with a modest degree of traffic, category C airspace is used. Class D airports are those that are smaller and Having a control tower An ICAO controlled Substance and D area is used in the United States, however only radio communication with ATC instead of an ATC permission is necessary for VFR operations.
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in a swot analysis, the prospect of entering new markets and launching new products would be listed under _______.
a. threats b. weaknesses c. opportunities d. strengths
Opportunities in a SWOT analysis might include the potential for expanding into new markets and introducing new goods.
What are some applications of SWOT analysis?The SWOT analysis measures a company's strengths, weaknesses, opportunities, and threats. The internal strengths and weaknesses of your business are aspects over which you have some control and where improvements may be made. Examples include your team members, your patents and intellectual property, and where you are.
Which four areas does SWOT analysis cover?Strength, Weakness, Opportunity, and Threat, or SWOT, are its initials. A SWOT analysis helps you pinpoint the advantages and disadvantages (S-W) of your company as well as potential threats and opportunities (O-T). Gaining a more complete understanding of the issue is beneficial for both strategic planning and decision-making.
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test that the expected price of a house of 2000 square feet is equal to, or less than, $120,000. what is the p-value of the test?
$60 per square feet is the p-value of the test. The probability that you would have discovered a specific collection of observations if the null hypothesis were true is expressed as a number called the p value.
Which is determined from a statistical test. In order to determine whether to reject the null hypothesis, P values are utilised in hypothesis testing. The likelihood that the null hypothesis is correct is P > 0.05. The likelihood that the alternative probability is correct is equal to 1 minus the P value. If the test result is statistically significant (P 0.05), the test hypothesis is unreliable or needs to be rejected. If the P value is higher than 0.05, no effect was seen.
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you are a producer who is hoping to create a specific good. based on what you have learned about resources and scarcity, what factors do you need to consider when producing this good? quizley
When a resource is used to make an object, producers must take its scarcity into account. A resource's value increases in direct proportion to its scarcity.
It is crucial to ascertain whether using a rare resource is necessary before producing an item because another, less scarce resource might be utilized in its place.
The term "cost of production" describes all expenses a company incurs when producing a good or providing a service. Production expenses frequently include supplies and raw materials utilized during production in addition to labor costs. The entire cost of all resources used to produce a good is known as the manufacturing cost.
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How many times has the debt ceiling been raised ?
On October 7, 2021, the Senate decided to raise it, but merely to give the U.S. Treasury permission to borrow until that December.
What are equity and debt?Total debt is the process of borrowing money from people or organizations for a set period of time. The money a corporation raises in exchange for investors' ownership rights is called equity capital. Role. Total debt is a risk for the business that it must repay within a set period of time.
What is debt, exactly?Debt can be defined as the sum that the borrower owes the lender. A debt is an amount of money that has been borrowed for a specific period of time and that must be repaid, plus interest. The
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the primary conversion for a lead generation site is____
A visitor's phone call and a website form fill are the two main conversions for a content marketing site.
What three things does a website serve?A website might be a terrific idea if you want to increase the number of leads for any local shopping website, sell things in an online store, or establish your own online presence.
Why are websites so important to companies?You have the opportunity to enter new markets and reassure potential buyers that your business is reputable by having a good and friendly website.
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as of january 1, 2014, the company has $300,000 in retained earnings. during the year the company had earnings/net income of $150,000 and paid cash dividends of $50,000. what is the amount of retained earnings as of december 31, 2014?
As of january 1, 2014, the company has $300,000 in retained earnings. during the year the company had earnings/net income of $150,000 and paid cash dividends of $50,000. The balance the ending retained earning is $400,000
The amount of retained earnings on the balance sheet is determined using the beginning period, any net income or loss, and any dividends.
The following chart illustrates how the ending retained earning balance was calculated:
= Beginning retained profits plus earning minus dividend paid
= $300,000 + $150,000 - $50,000
= $400,000
Consequently, $400,000 is the final retained earning balance at december 31, 2014
The same needs to be taken into account and applied.
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reduce inventory of slow-moving and obsolete products a. how do the sales of each product compare with forecasts?
Sales of each product should be compared to the forecasted sales to identify which products are slow-moving or obsolete. If sales of a particular product are significantly lower than the forecasted sales, then it is likely a slow-moving or obsolete product.
What are the best practices for disposing of slow-moving and obsolete products? When it comes to disposing of slow-moving and obsolete products, there are a few best practices to follow.First, assess the value of the product. If it has little to no value, it may be best to donate the product to a charity or organization that can put it to use. This also provides a tax benefit for the company.Second, consider liquidation. If the product has some value, it may be worthwhile to sell it to a liquidator in order to recoup some of the cost.Third, consider recycling. If the product cannot be sold, then it should be recycled or otherwise disposed of in an environmentally responsible manner.Finally, document the process. Make sure to keep track of all the steps taken to dispose of the product, as this will be useful for future reference.By following these best practices, companies can ensure that slow-moving and obsolete products are disposed of in the most efficient and cost-effective manner.To learn more about obsolete products refer to:
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true or false in the late 1800s, farm families in the trans-mississippi west became less dependent on loans as they were able to purchase land, machinery, and industrial products despite the prices for agricultural goods in the world market.
The given statement "In the late 1800s, farm families in the trans-Mississippi became less dependent on loans as to purchase land and industrial products for agricultural goods market" is False because geographic area experienced the most dramatic growth in capitalism.
The capitalism is an economic and political system in which a country's trade and industry are controlled by the private owners for profit.
That's why, it is wrong statement that in the late 1800s, farm families in the trans-Mississippi west became less dependent on loans as they were able to purchase land, machinery, and manufacturing products whose costs for agricultural goods.
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