If an individual has a balance on her credit card, but would like to pay less money in the long run, she should
O close her account and transfer her balance to a different credit card
O talk with her credit card company about removing her annual fee
O pay as much as possible each month
O make the minimum payment every month
Answers
Answer:
Pay as much possible each month.
Explanation:
If an individual has a balance on her credit card, but would like to pay less money in the long run, she should pay as much possible each month.
Hope this helps!
Related Questions
How can entrepreneurship improve people’s quality of life?
Answers
Answer:
Through offering unique goods and services, entrepreneurs break away from tradition and reduce dependence on obsolete systems and technologies. This can result in an improved quality of life, improved morale, and greater economic freedom.
Explanation:
what is the rate of return when 30 shares of stock A, purchased for $20/share, are sold for $720? The commission on the sale is $6
Answers
The rate of return on the investment is 19% for the 30 shares of stock and if the cost of each share is $20.
The Number of shares = 30
Cost of stock A = $20 per share
Total cost of 30 shares = 30 shares x $20/share = $600
The total cost of shares if the 30 shares were sold for $720, after paying a 6$ commission is:
$720 - $6 = $714
The profit from these sales are:
$714 - $600
profit = $114
The rate of return can be estimated as:
Rate of return = (Profit from sales / Total cost of cost) x 100%
Rate of return = ($114 / $600) x 100%
Rate of return = 0.19 x 100%
Rate of return = 19%
Therefore, we can conclude that the rate of return on the investment is 19%.
To learn more about the rate of return
https://brainly.com/question/14378808
#SPJ1
Taxes are cut by 10% for all income levels. What type of policy is being conducted
Answers
When taxes are cut, the type of policy that is being conducted is a expansionary fiscal policy.
What is a expansionary fiscal policy?
Fiscal policies are policies enacted by the government to control the money supply in the economy. Fiscal policy can either be contractionary or expansionary.
Expansionary fiscal policy is when the government increases the supply of money in the economy. This can be done either by reducing the taxes or increasing their level of spending.
Contractionary fiscal policies is when the government reduces the money supply in the economy either by reducing their spending or increasing taxes.
To learn more about fiscal policies, please check: https://brainly.com/question/25716528
#SPJ1
Which tasks are common to all Education and Training career pathways? assessing students on learning and approving budgets communicating with schools and families and enforcing rules that govern behavior teaching students and collaborating with teachers on instructional content developing instructional content for teachers and assessing student learning through exams
Answers
The tasks associated with Education and Training career pathways is communicating with schools and families.
What is a career pathways?Career pathways serves as a profession path that individuals choose to follow in the rest of his life.
Therefore, second option is correct because going along Education and Training career pathways ,enforcing rules that govern behavior teaching is needed
Learn more about career pathways at;
https://brainly.com/question/6947486
#SPJ2
Acton Quest Games Inc. adjust accounts annually. The following information is available for the year ended December 31, 2017.
Purchased a 1-year insurance policy on June 1 for $1,320 cash.
Paid $6,100 on August 31 for 5 months' rent in advance.
On September 4, received $3,240 cash in advance from e corporation to sponsor a game each month for a total of 9 months for the most improved students at local school.
Signed a contract for cleaning services starting December 1 for $1,150 per month. Paid for the first 2 months on November 30. (Hint: use the account Prepaid Cleaning to record
On December S, received $2,600 in advance from a gaming dub. Determined that on December 32, $350 of these games had not yet been played.
Required:
For each of the above transactions, record the adjustment that is required on December 31.
Answers
Answer:
Dec 31
1.
Insurance expense 770 Dr
Prepaid Insurance 770 Cr
2.
Rent Expense 4880 Dr
Prepaid Rent 4880 Cr
3.
Unearned Service Revenue 1440 Dr
Service Revenue 1440 Cr
4.
Cleaning Expense 1150 Dr
Prepaid Cleaning 1150 Cr
5.
Unearned Service Revenue 2250 Dr
Service Revenue 2250 Cr
Explanation:
1.
The insurance policy is for 1 year. The per year expense is = 1320 / 12 = 110
Till December, 7 months of insurance expense will be charged = 110 * 7 = 770
2.
The rent is paid in advance for 5 months till January. Till December, 4 months of rent has been consumed.
Rent expense will be debited by = 6100 / 5 * 4 = 4880
3.
The cash is received in advance for service providing for the 9 months from September. Till December, 4 months of service revenue would have been earned.
Service revenue will be credited by = 3240 / 9 * 4 = 1440
4.
The cash is paid for cleaning service in advance for 2 months till January next year. Till December, one month of service would have been availed so cleaning expense will be debited by $1150 and prepaid cleaning will be credited by $1150
5.
The cash is received in advance for service to be provided. Till the end of December, $2250 (2600 - 350) of service has been provided. So service revenue will be credited by $2250 and unearned service revenue will be debited by $2250
For Wildhorse Company, variable costs are 68% of sales, and fixed costs are $199,000. Management’s net income goal is $77,800. Compute the required sales in dollars needed to achieve management’s target net income of $77,800. (Use the contribution margin approach.)
Answers
Answer: $865000
Explanation:
Contribution margin ratio would be gotten as:
= 100% - 68%
= 32%
= 0.32
Then, the desired sales would be:
= (Fixed cost + desired profit) / CM ratio
= (199,000 + 77800) / 0.32
= 276800 / 0.32
= $865000
QUESTION 1 Explain to the owners of Miss K the concepts of the product line depth and product line breadth using practical examples relating to the 40Foods Distributors case study (2 marks will be awarded for the theoretical discussion and 2 marks for the practical examples relating to the case study
Answers
The concepts of the product line depth and product line breadth using practical examples relating to the 40Foods Distributors.
The product line refers to the number of products that a company offers within a particular product line
The product line depth and product line breadth are two important concepts in product management.
In the case of 40Foods Distributors, product line depth can be in the variety of products offered within each product line.
In the 40 Foods distributors, the product lines for dairy, bakery, meat, frozen foods, and other grocery items.
Therefore, the product line depth and product line breadth are two important concepts in product management.
To know more about product line here,
https://brainly.com/question/27499240
#SPJ1
What can a government do to best redistribute wealth?
A. Put tariffs and duties in place to collect revenue.
B. Offer government-owned lands for sale to the public.
C. Encourage the creation of small businesses by means of grants.
D. Adopt of a progressive tax system.
Answers
the crisis experienced in the workplace.
Answers
Answer:
were is tha picture i can answer that if don't have pictures
Which form of ownership generally has the least ability to accumulate capital? Partnership Sole proprietorship Corporation S-corporatio
Answers
Answer:
Option B (Sole proprietorship) is the right option.
Explanation:
A single trader, as well as an entrepreneur, seems to be an unaccompanied undertaking with only one manager paying payroll taxes even more on profit derived from such an undertaking, would be considered as Sole proprietorship.Considering the lack of state intervention, cooperatives are simple to configure as well as deconstruct or popularize among very small company owners including construction company groups.Other provided options aren't related to the given scenario. So option B is the correct one.
10. The directors of KOKO Limited issued 100,000 ordinary shares of no-par value for GH¢10 each payable as follows: on application GH¢3 and on allotment GH¢7. All issued shares were fully subscribed and monies were paid. How much was paid on application? GH 1,000,000 B. GH 300,000 C. GH 400,000 D. GH 700,000
Answers
The correct answer is B. GH¢300,000 was paid on application for the 100,000 ordinary shares issued by KOKO Limited.
The total amount raised from the issuance of 100,000 ordinary shares is calculated by multiplying the number of shares by the issue price per share. In this case, the issue price per share is GH¢10. Therefore, the total amount raised would be 100,000 shares multiplied by GH¢10, which equals GH¢1,000,000. According to the information provided, the amount paid on application iGH¢3 per share. To determine the total amount paid on application, we multiply the amount paid per share by the total number of shares. Therefore, GH¢3 multiplied by 100,000 shares equals GH¢300,000. Therefore, the correct answer is B. GH¢300,000 was paid on application for the 100,000 ordinary shares issued by KOKO Limited.
For more question on shares
https://brainly.com/question/28452798
#SPJ8
Operations Management:is a network of manufacturing and service options.is an essential function for primarily for-profit organizations.is narrowly dedicated to a single corporate function.focuses on decisions about the production and delivery of a firm s products and services.prioritizes sustainability over profits.
Answers
Answer:
focuses on decisions about the production and delivery of a firm's products and services.
Explanation:
Operations management can be regarded as a field of business which involves administration of business practices that carried out maximization of efficiency in a firm or an organization. It entails process such as planning, organizing, as well as taking responsibility for processes in organization in order to balance revenues as well as costs. It should be noted that Operations Management focuses on decisions about the production and delivery of a firm's products and services.
Mr Ashok has a company, and has an option to issue different types of preference shares. State all the types preference shares a company can issue.
Answers
Cumulative preference shares: These are types of shares where shareholders are given the right to receive dividends for those years where dividends could not be paid due to insufficient profits.
Non-cumulative preference shares: These are types of shares where shareholders are not given the right to receive dividends for those years where dividends could not be paid due to insufficient profits.
Participating preference shares: With participating preference shares, the issuing company must pay an increased dividend to the owners of preference shares if there is a participation clause in the share agreement. This clause states that a certain portion of earnings (or of the dividends issued to the owners of common stock) will be distributed to the owners of preferences shares in the form of additional dividends.
Convertible preference shares: These are preference shares that can be converted into common stock if a shareholder wants to change its holding position. They are converted into a predetermined number of preference stocks.
Non-convertible preference shares: These are preference shares where the holder of a preference share has not been conferred the right to get their holding converted into equity share.
Redeemable preference shares: These are preference shares that can be repurchased or redeemed by the issuing company at a fixed rate and date.
In summary, a company can issue different types of preference shares, including cumulative, non-cumulative, participating, convertible, non-convertible, and redeemable preference shares.
Suppose that at a price of $30 per month, there are 30,000 subscribers to cable television in Small Town. If Small Town Cablevision raises its price to $40 per month, the number of subscribers will fall to 20,000. At which of the following prices does Small Town Cablevision earn the greatest total revenue?
A) either $30 or $40 per month because the price elasticity of demand is 1.0
B) $30 per month
C) $40 per month
D) $0 per month
Answers
$30 per month is the prices does Small Town Cablevision earn the greatest total revenue. Hence, option B is correct.
What is total revenue?Total revenue is the overall sum of money received by a business through the sale of its products and services. Based on demand and price, it measures how successfully a company is generating revenue from its main operations.
Total revenue is crucial because it helps organizations gain a broad grasp of the link between pricing and the demand for a new unit of a product from customers at any given time. Simply said, price multiplied by the number of units sold equals total revenue.
Thus, option B is correct.
For more information about total revenue, click here:
https://brainly.com/question/29061801
#SPJ1
Which Airlines lounges are the best ?
Answers
Reason:
Air France’s first class is the whole package. Not only does Air France offer one of the world’s best first class inflight products, but the carrier’s ground experience in Paris is equally impressive.
If you’re connecting in Paris, you’ll be picked up at your plane and driven to the first class lounge, and then later on will be driven from the first class lounge to your connecting flight.
There’s so much to love about the Air France first class lounge, though my favorite thing is probably the restaurant, which has an Alain Ducasse menu. In my experience it’s the best food offered in any airline lounge in the world. It’s not just that the food quality is excellent, but the service and presentation are equally good.
Hopefully this helps!
Answer:
Air France La Première Lounge, Paris is the first best Airline lounge in the World.
Explanation:
The Air France La Première Lounge gives its customer one of the fashionable flying experiences in the world, as it includes freshening up the cozy cocktail bar to be brighter and more inviting, adding semi-private relaxation areas and installing new pieces of art.
In addition to having one of the best first class inflight experiences available, Air France also provides an outstanding ground experience in Paris. Best food is also offered at the restaurant there.
Refer to the below link for more information -
https://brainly.com/question/32533798
Best Buy sells a flat-screen high-definition TV for $700. Best Buy marks up the TV 45% on cost. What is the cost and dollar markup of the TV?
Answers
Answer:Cost of Tv 482.76 Dollar Markup 217.24
Explanation:
The cost of the TV will be $ 315
The dollar markup of the TV will be $ 1015
What is a markup price?The markup is the difference in prices between the cost of producing the product or service and the price at which it is sold. Businesses must tack on a markup on top of their total expenditures in order to guarantee a profit and recoup the costs associated with producing a good or service.
The information provided is:
The selling price of the TV = is $700
The markup cost of the TV = 45% of the cost
The dollar markup cost will be
= 700 * 45%
= $315
The new cost that will be generated will be
= 700 + 315
=$1015
Learn more about markup price, here:
https://brainly.com/question/11999225
#SPJ2
The managing director of top dog companies
Answers
Answer:
What???
Explanation:
Jens-Peter Clausen. Managing Director and DE GmbH Partner.
Katrin Clausen. Manager.
Im not sure if my answer is right ▪_▪
Can someone explain this to me?
Since inflation is already factored into the data, what is the most likely reason that the costs of a doctorate degree rise to such a high level?
Answers
The rate at which prices increase over a specific time period is known as inflation.
What is the meaning of Inflation?Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living.
Although low inflation might be detrimental, both levels can hurt the economy. The Fed will adopt the opposite strategy when the economy is having trouble or inflation is too low by cutting interest rates or purchasing assets to boost cash flow.
The main cost of inflation is the erosion of real income, which occurs when prices rise unevenly and cause some customers' purchasing power to decline. For both those who receive and pay fixed interest rates, inflation might over time affect their ability to make purchases.
Learn more about Inflation here:
https://brainly.com/question/30112292
#SPJ1
Marc, a single taxpayer, earns $99,000 in taxable income and $3,100 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for year 2021, what is his current marginal tax rate? (Use tax rate schedule.)
Answers
Answer:
Current marginal rate tax = (18678.5/102100 ) * 100 = 18.3%
Explanation:
10% bracket( 9700 - 0) * 0.1 = $970.0
12% bracket($39475-$9700) *.12 = $3573
22%bracket($84200 - 39475) * .22 = $9839.5
24%bracket[(990000+3100) - 84200] * .24 = $4296
Total marginal rate tax = 970+3573+ 9839.5+ 4296.00 = $18678.5
Current marginal rate tax = (18678.5/102100 ) * 100 = 18.3%
Refer to Table 3-6. Denmark and Italy trade according to the principle of comparative advantage. If the international price of bread is 2.5 units of cheese for 1 unit of bread, what is the gain from trade to Italy per unit of bread traded?
a.
0.5 units of cheese
b.
1.5 unit of cheese
c.
2.0 units of cheese
d.
2.5 units of cheese
Answers
The gain from trade to Italy per unit of bread traded will be D. 2.5 units of cheese.
What is a comparative advantage?When producing a specific good, agents in an economic model have a comparative advantage over rivals if they can do so at a lower relative opportunity cost or autarky price, that is, at a lower relative marginal cost before trade.
The ability of an economy to produce a specific good or service at a lower opportunity cost than its trading partners is known as comparative advantage. In other countries, 1 unit of bread costs 2.5 units of cheese.
Therefore, the correct option is D.
Learn more about comparative advantage on:
https://brainly.com/question/12291750
#SPJ1
A&D Inc. is projecting the following increases and decreases over the next year: Inventory
- increase by $3 million Accounts receivable
- decrease by $2 million Accrued payroll taxes
- increase by $1 million Fixed assets
- increase by $5 million Long term debt
- increase by $4 million Revenues
- increase by $6 million As a result of its projections,
A&D Inc. can expect it's net working capital to:
a. increase by $7 million
b. Increase by $1 million.
c. Decrease by $1 million
d. Not change.
Answers
Answer:
The question is is properly formatted ,find below question:
A&D inc is projecting the following increases and decreases over the next year.
Inventory - increases by $3 million
accounts receivable - decrease by $2 million
Accrued payroll taxes - increase by $1 million
fixing assets - increase by $5 million
long term debt - increase by $4 million
revenues - increase by $6 million
The correct option is D,not change
Explanation:
The change in net working capital=change in current assets - change n current liabilities
change in current assets=increase in inventory-decrease in accounts receivable=$3 m-$2m=$1m
Change in current liabilities=increase in payroll taxes=$1m
Change in net working capital=$1m-$1m=$0
The correct option is d,not change since the change in net working capital expected is $0
Option C is wrong because that is change in both current assets and current liabilities respectively
You decide to decrease the price of your product to increase total sales revenue, because you believe your product's demand is
A) perfectly inelastic
B) unit elastic
C) price elastic
D) price inelastic
Answers
Answer:
C) price elastic.
Explanation:
Why are ethical concerns important issues when designing service pricing and revenue management strategies? What are potential consumer responses to service pricing or policies that are perceived as unfair?
Answers
Ethical concerns are important issues because service pricing schedules are intricate that it makes it easy for organizations to engage in unscrupulous manner.
What is ethics?It should be noted that ethics simply means the ability to know what's right from what's wrong.
In this case, ethical concerns are important issues because service pricing schedules are intricate that it makes it easy for organizations to engage in unscrupulous manner.
Learn more about ethics on:
brainly.com/question/13969108
#SPJ1
Companies might easily engage in dishonest practices due to the complexity of service pricing schedules, making ethical considerations significant.
Why do we need ethics?Ethics may be defined as the capacity to distinguish between what is right and what is wrong.
In conclusion, Service pricing schedules are so complex that it's simple for businesses to act unethically, which raises ethical questions.
You may get additional information about ethics at:
brainly.com/question/13969108
Suppose that a portfolio management company manages an investment fund. The fund
manager observes a bond in the market and intends to add it to the fund portfolio. The
bond has a 100.000 TL par value, 10% coupon rate (coupon payments are annual) and a
6-years maturity. The business model is to “hold-to-maturity”. The company purchases
the bond at the beginning of the year when the market yields are 8%. After exactly 3
years of investment, market yields increase to 12%. What would be the profit or loss
amount in the income statement for that third year?
a) 1.427,92 TL loss
b) 1.470,06 TL profit
c) 8.529.94 TL profit
d) 10.000 TL loss
Answers
Answer: The correct answer is (a) 1.427,92 TL loss.
Explanation:
To calculate the profit or loss for the third year, we need to determine the market value of the bond at the end of the second year and compare it to the par value of 100,000 TL.
At the beginning of the investment, the bond has a coupon rate of 10% and a market yield of 8%, so its price is:
PV = (10000/1.08) + (10000/1.08^2) + (110000/1.08^3) = 104,406.40 TL
After 3 years, the market yield has increased to 12%, so the bond's price would have changed to reflect this new yield. To calculate the new price, we can discount the remaining coupon payments and the par value at the current market yield:
PV = (10000/1.12^1) + (10000/1.12^2) + (10000/1.12^3) + (100000/1.12^3) = 88,572.08 TL
The market value of the bond at the end of the second year is 88,572.08 TL, which represents a loss compared to the par value of 100,000 TL:
Loss = 100,000 - 88,572.08 = 11,427.92 TL
Therefore, the correct answer is (a) 1.427,92 TL loss.
More about market value and par value :
https://brainly.com/question/29243888
https://brainly.com/question/29243888
PLEASE HELP
Discussion of how business intelligence is used or could be used to support SpaceX's 3D printing process
Answers
Business intelligence (BI) can be employed to provide assistance to SpaceX's 3D printing procedure in several ways:
How business intelligence is used or could be used to support SpaceX's 3D printing processQuality regulation: BI tools could facilitate the monitoring of the quality of 3D-printed parts, recognize errors anddefects, plus detect areas for advancement. By exploring data from the 3D printing step, SpaceX may discover structures and trends that hint towards potential troubles with both the design as well as fabrication process, allowing them to take corresponding adjustments.
Cost enhancement: BI tools might be implemented to investigatethe cost of 3D printing and pinpoint sections where price savings can be accomplished. For example, by examining information concerning material usage, labor costs, and equipment efficacy, SpaceX will be able to minimize expenditures while retaining greatness.
Process streamlining: BI tools may be exploited to optimize the 3D printing method by discovering hurdles, problems, or opportunities for betterment. For example, by studying data on utilization of machines and printing rate, SpaceX will recognize openings to escalate proficiency and reduce printing time.
Predictive maintenance: BI instruments could promote surveillance of health of 3D printers and anticipate when upkeep or renovations are needed. By evaluating data regarding functioning of devices and maintenance history, SpaceX would be capable of foreseeing repair needs and arrange mending or substitution ahead of time, curtailing downtimes and heightening machine operability.
Read more on business intelligence here:
https://brainly.com/question/30465461
#SPJ1
The gain on the disposal of equipment is recognized when: Multiple Choice The book value of the equipment is greater than the value received. The book value of the equipment is less than the value received. A salvage value exists. A gain should not be recognized on the disposal of an asset.
Answers
Answer:
The correct option:The book value of the equipment is less than the value received
Explanation:
The gain on the disposal of an equipment will be recognized when the book value of the equipment which is the amount in which the equipment was bought is LESS or lower than the value received. Example if the book value of an equipment before disposal is $150,000 in which the equipment was later dispose off at the value of $200,000 which means that the amount of $200,000 will be the value or the amount that will be recognized because the book value amount of $150,000 is less than the value received which is $200,000 making us to have a gain of $50,000 on the Equipment which is calculated as:
Gain on disposal= Book value -Value received
Gain on disposal =$150,000-$200,000
Gain on disposal =$50,000 will be recognized
ASAP PLS BRAINLIEST State the minimum monthly income and hourly wage per worker needed to cover monthly expenses for the family you used in part a. Then, explain how to calculate the hourly wage based on the monthly income and state the hourly wage. Assume that each full-time worker works four 40-hour work weeks per month, and each part-time worker works two 40-hour weeks per month.
Answers
The minimum monthly income for this family is $6404, which means the hourly wage should be $40 in a full-time job or $80 in a part-time job.
What is the hourly wage?To find out the hourly wage you can use the following formula: total of income/ number of hours.
Number of hours in a month: 40 hours x 4 weeks = 160 hours (full-time) or 20 hours x 4 = 80 hours (part-time)
6404 /160 = 40
6404 / 80= 80
Based on this, the hourly wage to cover the expenses of the family, which are $6404 is $40 for a full-time job and $80 for a part-time job.
Learn more about wage in https://brainly.com/question/14718127
#SPJ1
which of the four main business functions is responsible for production?
Answers
The main business function responsible for production is operations. Operations management encompasses the processes and activities involved in producing goods or delivering services within an organization. It focuses on the efficient and effective conversion of resources (such as labor, materials, and equipment) into finished products or services. This function includes tasks such as planning, scheduling, procurement, quality control, inventory management, and process improvement to ensure smooth and cost-effective production operations.
\(\huge{\mathfrak{\colorbox{black}{\textcolor{lime}{I\:hope\:this\:helps\:!\:\:}}}}\)
♥️ \(\large{\textcolor{red}{\underline{\mathcal{SUMIT\:\:ROY\:\:(:\:\:}}}}\)
Answer:
The four main business functions are
1. Operations This function is responsible for product and the conversion of inputs into goods or services.
2. Marketing This function is concentrated on understanding client requirements and wants, promoting products or services, and generating demand.
3. Finance This function manages the fiscal coffers of the business, including budgeting, fiscal planning, and investment opinions.
4. Human coffers This function is responsible for managing the association's mortal capital, including reclamation, training, performance operation, and hand relations.
Explanation:
Suppose that the local government of Tulsa decides to institute a tax on soda consumers. Before the tax, 30 million liters of soda were sold every month at a price of $11 per liter. After the tax, 24 million liters of soda are sold every month; consumers pay $13 per liter (including the tax), and producers receive $6 per liter.
Answers
The amount of tax on soda is $7 , the burden of tax on consumer is $2 , burden on tax on the producer is $5.
It is true that the effect on tax on the quantity sold would have been smaller if the tax have been levied on the producer.
What is tax?A tax is a mandatory financial charge or other type of levy imposed by a governmental organization on a taxpayer (an individual or legal entity) to fund government spending and various public expenditures (regional, local, or national).
a) Amount of tax is calculated as:
Price paid by consumers - Price received by producer
= $13- $6
= $7
b) Burden of tax on consumer is:
Price paid after tax- Equilibrium price
= $13- $11
= $2
c) Burden on tax on the producer is:
Equilibrium price - Price received after tax
= $11 -$6
= $5
Therefore, whether the tax is levied on the consumer or the producer, the equilibrium price after tax will remain the same.
To learn more about tax, click here:
https://brainly.com/question/16423331
#SPJ1
1) Company's most recent income statement is given below.
Sales (8,000 units) $160,000
Less variable expenses (68,000)
Contribution margin 92,000
Less fixed expenses (50,000)
Net income $42,000
Required:
a. Contribution margin per unit is $ ________ per unit
b. If sales are doubled total variable costs will equal $ ________
c. If sales are doubled total fixed costs will equal $ ________
d. If 20 more units are sold, profits will increase by $ ________
e. Compute how many units must be sold to break even. # ________
f. Compute how many units must be sold to achieve
operating income of $60,000. # ________
g. Compute the revenue needed to achieve an after tax
income of $35,000 given a tax rate of 30%. $ ________
h. What is the margin of safety percentage at 7000 units sold? ________%
2) The Company uses a normal job-costing system at its Florida plant. The
plant has a machining department and an assembly department. Its job-costing system has two direct-
cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost
pools (the machining department overhead, allocated to jobs based on actual machine-hours, and the
assembly department overhead, allocated to jobs based on actual direct manufacturing labor costs). The
2020 budget for the plant is as follows:
Machine Department Assembly Department
Manufacturing overhead $1,800,000 $4,000,000
Direct manufacturing labor costs $1,400,000 $2,000,000
Direct manufacturing labor-hours 180,000 250,000
Machine-hours 50,000 250,000
Requirements
1. Compute the overhead rates per department.
During February, the job-cost record for Job 494 contained the following:
Machine Department Assembly Department
Direct materials used $45,000 $74,000
Direct manufacturing labor costs $19,000 $20,000
Direct manufacturing labor-hours 1,400 1,800
Machine-hours 2,100 1,100
2. Compute the total manufacturing overhead costs allocated to Job 494
3. Compute the costs of producing Job 494
4. At the end of 2020, the actual manufacturing overhead costs were $2,000,000 in machining and
$4,100,000 in assembly. Assume that 54,000 actual machine-hours were used in machining and
that actual direct manufacturing labor costs in assembly were $2,300,000. Compute the under-
allocated or over-allocated manufacturing overhead for each department.
3) Company manufactures a specialized hoverboard. Company began 2017 with an inventory of
240 hoverboards. During the year, it produced 1,200 boards and sold 1,300 for $800 each. Fixed
production costs were $319,000, and variable production costs were $375 per unit. Fixed advertising,
marketing, and other general and administrative expenses were $150,000, and variable selling costs were
$20 per board. Assume that the cost of each unit in beginning inventory is equal to 2017 production costs.
Required:
1. Prepare an income statement assuming Mitchco uses variable costing.
2. Prepare an income statement assuming Mitchco uses absorption costing. Mitchco uses a denominator
level of 1,100 units. Production-volume variances are written off to cost of goods sold.
Answers
The contribution margin per unit = contribution margin/no. of units sold is 11.5
How to solveThe income statement
b. 136000
if sales are doubled variable cost will also be doubled. so 68000*2= 136000
c.50000
if sales are doubled total fixed cost will remain the same.
d. 230
if 20 more units will be sold profit willincreased by 230. i.e. contribution * no. of units sold
so 11.5*20= 230
e. 4348 units
Break-Even point (units) = Fixed Costs ÷ (Sales price per unit – Variable costs per unit)
i.e. 50000/20-8.5 = 4347.82 i.e. 4348 units
f. 9565.21 i.e. 9566 units
Profit = sales - variable cost - fix cost
60000 = sales - variable cost - 50000
sales - variable cost = 60000+ 50000
sales - variable cost = 110000
Total amount required to earn = 110000
so units required to be sold = Total amount required to earn/ Contribution per unit
110000/11.5 = 9565.21
g.150000
After tax revenue = (sales - variable cost - fix cost)- Tax rate
30000= (sales - variable cost - 50000) - 30%
30000/30% = (sales - variable cost - 50000)
100000 = (sales - variable cost - 50000)
sales - variable cost = 100000+50000
sales - variable cost / Revenue required = 150000
Read more about variable costs here:
https://brainly.com/question/5965421
#SPJ1