Macy Corporation's relevant range of activity is 8,400 units to 17,000 units. When it produces and sells 12,700 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 5.55 Direct labor $ 4.00 Variable manufacturing overhead $ 2.00 Fixed manufacturing overhead $ 3.60 Fixed selling expense $ 1.30 Fixed administrative expense $ 0.60 Sales commissions $ 1.25 Variable administrative expense $ 0.50 If the selling price is $32.50 per unit, the contribution margin per unit sold is closest to: Multiple Choice $19.20 $22.95 $11.55 $7.35
Answers
Answer:
Contribution margin per unit= $19.2
Explanation:
The contribution margin is calculated as follow:
Contribution margin per unit= selling price - total unitary variable cost
Direct materials $5.55
Direct labor $4.00
Variable manufacturing overhead $2.00
Sales commissions $1.25
Variable administrative expense $0.50
Total variable cost per unit= $13.3
Contribution margin per unit= 32.5 - 13.3
Contribution margin per unit= $19.2
Related Questions
What is the purpose of consumer-advocacy groups?
to enforce consumer-protection regulations
to lobby the government for lower taxes
to promote the interest of consumers
to provide essential social services
Answers
To promote the interest of consumers is the purpose of consumer-advocacy groups. Actions performed by people or organizations to advance and defend the interests of the buying public are referred to as consumer advocacy.
Most countries have implemented legislation to safeguard customers against unsafe or subpar craftsmanship, dishonest sales tactics, and deceptive advertising. Consumer advocacy, movements, or laws that protect consumers' interests by regulating the goods, services, practices, and expectations of producers, merchants, and advertising.
Protecting the interests of the consumer or buyer is the goal of consumer advocacy groups. These organizations use a variety of tactics to expose companies that engage in unfair business practices or sell dangerous goods. These tactics include litigation, letter-writing campaigns, boycotts, and public relations. The Consumer Federation of America, which has 220 member groups, is the biggest consumer advocacy organisation in the United States.
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Reconcilling supply and demand has four overlapping activities, indicate these activites
Answers
To reconcile supply and demand, there are four overlapping activities. The four overlapping activities that help reconcile supply and demand are as follows:
Activity 1: Forecasting - The first step is forecasting, which entails predicting demand for goods and services. It is a quantitative process that includes data gathering, data cleansing, and mathematical modelling.
Activity 2: Planning - Planning is the second step. Planning involves identifying the resources needed to meet the anticipated demand, as well as allocating the available resources efficiently.
Activity 3: Execution - Execution is the third step. Execution entails efficiently managing the flow of goods and services from suppliers to customers, ensuring that the appropriate product and service is provided at the correct location, and ensuring that demand is satisfied.
Activity 4: Monitoring - Finally, the process includes monitoring the performance of the activities and the supply chain as a whole. It entails comparing actual performance to expected performance and identifying areas for improvement.
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21/25
What is a health insurance copay?
Answers
A health insurance copayment The portion of the amount due that the policyholder is required to pay out of pocket under a health insurance plan is known as a co-pay (co-payment).
What does copay in medical insurance mean?
A co-pay provision in a health insurance policy states that the insured will be responsible for paying a certain percentage of any incurred medical costs. When filing a claim, the policyholder often pays a specified percentage of the total claim amount.
What is a copay of $25?
A copay, also known as a copayment, is the set amount you must pay at the moment of treatment for medical care. For instance, you might be required to pay a $10 charge for each monthly prescription and a $25 copay each time you visit your primary care physician and a $250 copayment for an ER visit.
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How is opportunity cost related to scarcity?
Answers
Answer:
This concept of scarcity leads to the idea of opportunity cost. The opportunity cost of an action is what you must give up when you make that choice. Another way to say this is: it is the value of the next best opportunity. Opportunity cost is a direct implication of scarcity
Explanation:
Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $63,000 loan at 8.5% for 24 months. What is his monthly payment by table lookup? (Use Table 14.2)
Note: Round your answer to the nearest cent.
Answers
If he was offered a $63,000 loan at 8.5% for 24 months. His monthly payment by table lookup is : $3071.
What is monthly payment?Monthly payment can be defined as the amount a person received on a monthly basis.
First step is to convert the month to year
Month to year = 24 / 12
Month to year = 2 years
Second step is to find the interest using this formula
I = P × R×T
Where:
I = Interest
P = Principal
R = rate
T = time
Hence
I = 63,000 × 2 × 8.5%
I = 10,710
So,
P+ I = 63,000 + 10,710
P+I = 73,710
Now let find the monthly payment:
Monthly payment = 73,710 / 24 months
Monthly payment = $3,071.25.
Monthly payment = $3,071 (Approximately)
Therefore the monthly payment is the amount of $3071
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1. If the two totals of a trial balance are equal, does it mean that there are no errors in the accounting records? Explain
2. Assume that when a purchase of supplies of $2,650 for cash was recorded, both the debit and the credit were journalized and posted as $2,560. (a) Would this error cause the trial balance to be out of balance? (b) Would the trial balance be out of balance if the $2,650 entry had been journalized correctly but the credit to Cash had been posted as $2,560?
Answers
1. If the two totals of a trial balance are equal, it does not mean that the accounting records are free of errors.
2a) The error of commission cannot cause the trial balance to be out of balance.
2b) If the $2,650 entry had been journalized correctly but the credit to the Cash had been posted as $2,560, the trial balance would not balance because another account was debited with $2,650.
What are the errors that do not affect the trial balance?The errors that do not affect the trial balance or cause it to be out of balance include:
Errors of principleErrors of original entryErrors of omissionErrors of commissionCompensating errors.A trial balance will be out of balance if an error is made on one side of the ledger.
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Type the correct answer in the box. Spell all words correctly. Which option in a presentation program contains the formatting and placeholders for all of the items that appear on a slide? The ____ option contains the formatting and placeholders for all of the items that appear on a slide.
Answers
The "Slide Master option contains the formatting and placeholders for all of the items that appear on a slide.
The Slide Master is a feature available in presentation software, such as Microsoft PowerPoint or Slides, that allows users to define and apply consistent formatting and layout to all slides in a presentation. It serves as a template or blueprint for the design and structure of each slide.
By accessing the Slide Master, users can customize the background, fonts, colors, and other design elements that will be applied to all slides in the presentation. It also contains placeholders for various items commonly found on slides, such as titles, text boxes, images, logos, and footer information.
The advantage of using the Slide Master is that it ensures consistency and efficiency when creating and editing slides. Instead of manually applying formatting and placeholders to each slide individually, users can make changes to the Slide Master, and those changes will be reflected across all slides in the presentation.
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Economics, need some quick help. 35 Points, will award brainliest.
The slope of curve 1 first decreases then increases because of the Law of
A | Marginal Analysis
B | The Slope of Supply
C | The Slope of Demand
D | Diminishing Marginal Returns
Answers
Have a nice day! Mark if correct please!
Answer:
C - The Slope of Demand
Explanation:
I took the test and got it right :)))
How are society and culture related?
1.While culture, as the collection of beliefs and values of a group of people, strongly affects society, a particular society does not have any kind of impact on its
culture.
2.Both society and culture are important to groups of people, but they are entirely
separate from one another.
3.A society is a group of people who live in the same area and share a culture, and
culture is made up of elements, such as language, that tie the society together.
4.A culture is a group of people who live together, and a society is the values,
beliefs, and behaviors that they all share.
Answers
As both entail a community of people residing in one place, society and culture are intimately intertwined. While culture refers to the ideas, values, and standards that influence a society's behaviour, society is the collective behaviour of a collection of people.
Language, religion, and customs are examples of cultural components that bind a community together and give it a feeling of identity.
A society's values and beliefs shape how its members interact with one another and the outside world, therefore a society's culture also has an impact on it. Although culture and society are two separate yet linked concepts.
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Health claims made in product advertisement must be backed by a . Local authorities b. Scientific evidence c . Endorsement
Answers
Answer:
the answer is b! :)
Explanation:
Answer:
answer is b ok bro ok ok ok
Mo’yur lawn landscaping worksheet
Answers
Answer:
Company Chart of AccountsAssets100 Cash110 Accounts Receivable120 Inventory125 Supplies128 Prepaid Insurance129 Prepaid Rent130 Computers & Software132 Accumulated Depreciation -Computers & Software136 Company Vehicles137 Accumulated Depreciation - Vehicles138 Office Building139 Accumulated Depreciation - Office Building140 Land150 Intangible Assets (Patents, Copyrights, etc.)Liabilities200 Accounts Payable210 Wages Payable220 Taxes Payable230 Short-term Loan240 Unearned Revenue220 Long-term LoanOwner's Equity300 Owner's Capital Contribution310 Owner's Draws320 Retained EarningsRevenue400 Merchandise Sales410 Fees Earned420 Other RevenueExpenses500 Wages Expense510 Rent Expense520 Utilities Expense530 Office Supplies Expense540 Depreciation Expense550 Meals & Entertainment Expense560 Maintenance & Repair Expense570 Postage Expense580 Printing Expense590 Miscellaneous Expense
All of the following except
are examples of sustainable business practices.
o following environmental laws when disposing of waste
O using energy efficient practices to run a paper plant
o undercutting the competition with low pricing
o using recycled materials to produce paper
Answers
Answer:
C
Explanation:
Lloyd Inc. has sales of $450,000, a net income of $36,000, and the following balance sheet:Cash $148,770 Accounts payable $117,450Receivables 244,035 Notes payable to bank 71,775Inventories 613,350 Total current liabilities $189,225Total current assets $1,006,155 Long-term debt 207,495Net fixed assets 298,845 Common equity 908,280Total assets $1,305,000 Total liabilities and equity $1,305,000The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to the industry average, 2.5x, without affecting sales or net income.If inventories are sold and not replaced (thus reducing the current ratio to 2.5x); if the funds generated are used to reduce common equity (stock can be repurchased at book value); and if no other changes occur, by how much will the ROE change? Do not round intermediate calculations. Round your answer to two decimal places.What will be the firm's new quick ratio? Do not round intermediate calculations. Round your answer to two decimal places.
Answers
Answer:
Desired current asset for current ratio to be 2.5x
=> 2.5*Total current liabilities
=> 2.5*$189,225
=> $473,063
Reduction in equity = Reduction in current assets = Reduction in inventory
= Old Current assets - New current assets
= $1,006,155 - $473,063
= $533,093
New book value of equity = Old book value - Reduction in equity
New book value of equity = $908,280 - $533,093
New book value of equity = $375,188
Change in ROE = ROE now - ROE before
Change in ROE = (Net income / New book value of equity) - (Net income / Old book value of equity)
Change in ROE = (36,000 / 375,188) - (36,000 / 908,280)
Change in ROE = 0.0959519 - 0.0396354
Change in ROE = 0.0563165
Change in ROE = 5.63%
Hence, ROE will increase by 5.63%
Firm's new quick ratio = (Cash + Receivables ) / Current liabilities
Firm's new quick ratio = ($148,770 + $244,035) / $189,225
Firm's new quick ratio = $392,805 / $189,225
Firm's new quick ratio = 2.0758621
Firm's new quick ratio = 2.08
a car travels at a speed of 30mph.How far does the car travel in 2 hours
Answers
If it goes 30 miles per hour, then it would go 60 miles in two hours.
Part A
Step 1 Starting at MIDNIGHT, (12:01am) ending 3 days later (72hr) at MIDNIGHT (11:59pm) You can start any day of the week, upto Sat Mar 04.
For a minimum of 3 consecutive days monitor the time you spend doing the 8 different activities listed below
NOTE: Avoid using weekends only in your monitoring and try to stay with mid-week,
e.g. Tues, Wed, Thurs, where majority of days are mid-week.
Use the attached time sheets to record blocks of time. Round off to the nearest hour. Precision isn’t the goal. e.g. 2hrs and 20 minutes, would be rounded down to 2 hours. 2 hrs and 30 minutes would be rounded up to 3 hrs.
The full 24 hours of each day must be accounted for.
The following 8 categories are recommended to cover the majority of possible activities one might perform in the course of a day.
Sleep
Personal maintenance (showers, laundry, housecleaning, grocery shopping, family requirements etc.)
Travel (to work, to school, or for appointments)
Work hours (total hours at the workplace, excluding lunch or breaks)
School (total hours in classes, plus time spent, studying, re-writing notes, completing assignments, time on blackboard)
Fitness (formal or informal, attending the gym or walking home from work)
Recreation (other than fitness related, TV, Movies, Leisure reading, online shopping, crafts, Video games, children’s sports activities, dates, coffee meet ups)
Volunteer activities (United Way, Big Brothers/Sisters, your religious institution activities, PTA with schools)
Three day's activities
Time day day day
Activities Activities Activities
12:01-
1:00am
1:00am-
2:00am
2:00am-
3:00am
3:00am-
4:00am
4:00am
5:00am
5:00am-
6:00am
6:00am=
7:00am
7:00am-
8:00am
8:00am-
9:00am
9:00am-
10:00am
10:00am
11:00am
11:00am-
12:00pm
12:00pm
1:00pm
1:00pm-
2:00pm
2:00pm-
13:00pm
3:00pm-
4:00pm
4:00pm-
5:00pm
5:00pm-
6:00pm
6:00pm-
7:00pm
17:00pm-
8:00pm
8:00pm-
9:00pm
9:00pm-
10:00pm
10 00pm
11:00pm
11:00pm-
11:59pm
Answers
Here is an example of a three-day activity log:
The Activity LogDay 1:
Time Sleep Personal Travel Work School Fitness Recreation Volunteer
12:01-1:00 1
1:00-2:00 1
2:00-3:00 1
3:00-4:00 1
4:00-5:00 1
5:00-6:00 1 1
6:00-7:00 1 1
7:00-8:00 1 1
8:00-9:00 1 1
9:00-10:00 1 1
10:00-11:00 1 1
11:00-12:00 1 1
12:00-1:00 1
1:00-2:00 1
2:00-3:00 1
Day 2:
Time Sleep Personal Travel Work School Fitness Recreation Volunteer
12:01-1:00 1
1:00-2:00 1
2:00-3:00 1
3:00-4:00 1
4:00-5:00 1
5:00-6:00 1 1
6:00-7:00 1 1
7:00-8:00 1 1
8:00-9:00 1 1
9:00-10:00 1 1
10:00-11:00 1 1
11:00-12:00 1 1
12:00-1:00 1
1:00-2:00 1
2:00-3:00 1
Day 3:
Time Sleep Personal Travel Work School Fitness Recreation Volunteer
12:01-1:00 1
1:00-2:00 1
2:00-3:00 1
3:00-4:00 1
4:00-5:00 1
5:00-6:00 1 1
6:00-7:00 1 1
7:00-8:00 1 1
8:00-9:00 1 1
9:00-10:00 1 1
10:00-11:00 1 1
11:00-12:00 1 1
12:00-1:00 1
1:00-2:00 1
2:00-3:00 1
Note: The actual activities and time allocation would depend on the individual's personal and work life. This is just an example to illustrate how the log can be filled out.
It's important to be honest and accurate while filling out the log to get the most benefit from it.
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Computers used to produce magazine articles is it land or capital
Answers
Answer:
captial
Explanation:
Land means things like natural resources, labor is the manual work force that either makes capital products or turns natural resources into a useable product to work, and capital is anything made that is used to make something else.
When computers are used to produce magazine articles the main factor of production is capital.
To an economist, capital often refers to liquid assets. In other words, it is cash on hand that may be used on either daily requirements or long-term initiatives.
Capital refers to the funds or resources utilized to launch a firm. Capital is a resource that might be money or anything in kind that is used to buy more raw materials and inputs. It is a critical component since every firm needs some initial money.
Therefore, the main factor of production is capital.
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This is an incomplete question, the complete question is:
What is the factor of production when computers are used to produce magazine articles?
Ethics Student Activity Packet
In this lesson, you will learn to:
- Define what ethics is
- Explore some of the ethical dilemmas our society faces, such as those posed by self-driving cars
- Analyze a number of ethical dilemmas and recommend how the people in these situations should proceed
NOTE: Vocabulary for this unit can be found in the NGPF Personal Finance Dictionary
RESOURCES
Discussion Prompts
Write your responses to the questions. Then, share what you wrote with your classmates or a partner.
QUESTIONS
1. How do you know if a behavior or action is right or wrong?
Answers
A behavior or action is right or wrong due to the fact that it is a specific kind of action, that tends to fits in with some principles or rules, and can also say the behavior is right or wrong due to the fact that it brings about good or negative consequences.
How do we know good and bad behavior?We must first comprehend what we mean when we speak about right and wrong in order to taken in how to acquire moral understanding.
Therefore, one can make use of Conscience-Based Action: Ethical Knowledge. It is seen as a more prevalent viewpoint that exists that is not too dissimilar from that. It is the notion that by paying attention to our conscience, we can determine what is morally right and wrong. What determines whether anything is right or wrong is that still, small voice within of us.
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A solid business blank addresses a customers blank
Answers
A solid business plan addresses a customers needs and offers a solution.
What is business?Generally, Business is an activity of providing goods and services in exchange for money. It includes all forms of trade conducted within a society, including bartering and exchange of services.
It is a major part of the economy and is an essential component of economic growth. Businesses can range from small, one-person operations to large, multi-national corporations.
The primary purpose of business is to create and provide goods and services to satisfy customers, generate profits, and create social value.
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9. You are the manager of College Computers, a manufacturer of customized
computers that meet the specifications required by the local university. Over 90
percent of your clientele consists of college students. College Computers is not
the only firm that builds computers to meet this university's specifications;
indeed, it competes with many manufacturers online and through traditional
retail outlets. To attract its large student clientele, College Computers runs a
weekly ad in the student paper advertising its "free service after the sale" policy
in an attempt to differentiate itself from the competition. The weekly demand
for computers produced by College Computers is given by
Q = 1000 - P
and its weekly cost of producing computers is
C = 2 000 + Q²
If other firms in the dustry sell PCs at $600, what price and quantity of
computers should you produce to maximize your firm's profits? What long run
adjustments should you anticipate? Explain. [5 marks]
Answers
To maximise its profit in the market, the company will offer 80 PCs for $360.
CALCULATION
The market for college computers is intensely competitive. The weekly demand curve for computers in colleges is (Q) = 800 - 2P.
P = 400 - 0.5QTotal weekly earnings (TR) = P*Q
TR = 400Q - 0.5Q2MR = 'partialTR / 'MR = 400 - QThe cost of making computers each week is C(Q) = 1200 + 2Q2.
MC = partialC(Q) divided by partialQMC = 4QWhen MR = MC, the company will make the most money. Comparing marginal income with marginal expenditure.
400 - Q = 4QAdd "Q" to both sides.400 = 5QQ=80 computer systems80 units is the ideal output for college computers.
The will decide on the best price at,
P = 400 - 0.5 (80)P = 400 - 40P=$360 for each computer.Total weekly earnings (TR) = 360 * 80
TR = $28800TC = 1200 + 2(80)2TC = 1200 + 12800TC = $14000Total revenue from college computers = TR - TC
Profit: 28800 minus 14,000Gain = $14,800Therefore to maximise its profit in the market, the company will offer 80 PCs for $360.
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do you think legal sanction is fair and effective in business?
Answers
Answer: Since a legal sanction is a punishment imposed on parties who disobey laws or court orders, yes I do.
Explanation: Hope this helps
Which of the following statements is true about secondary markets?
A. A buyer may incur search costs and find a seller on their own through a direct search.
B. A broker may bring buyers and sellers together, charging a commission.
C. A dealer may sell and buy securities using his inventory, therefore reducing search costs. The dealer's return is the bid-ask spread.
D. An auction market allocates the selling shares to the highest bidder.
Answers
Answer:
True statement about secondary markets is:
B. A broker may bring buyers and sellers together, charging a commission.
Explanation:
In a typical secondary market, investors buy and sell outstanding shares among themselves. Acting as an intermediary between the stock exchange and the investor, a broker arranges the buying and selling of shares among investors, charging a commission for their work. They facilitate the sale and purchase of shares in the secondary market.
Which of the following best describes what happens if one more unit of labor is used? Choose 1 answer:
A) MPL increases
B) MPL equals total product of labor (TPL)
C) APL is maximized
D) APL increases.
E) MPL is minimized
Answers
MPL increases, best describes what happens if one more unit of labor is used. Thus, option (a) is correct.
The change in output brought on by adding a new unit of labour is known as the marginal product of labour (MPL).
MPL stands for the extra output that can be produced with an additional unit of labour. If MPL rises, it indicates that the extra output produced by the additional unit of labour is larger than the output produced by the original unit of labour.
Therefore, option (a) is correct.
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what amount of Capital could be raised by Transnet
Answers
The amount of capital that Transnet is said to be able to raise is put at R100 billion business by 2020.
What is Transnet?This is the name of a railroad company that was established in South Africa. The company is known for the fact that it is a port, a rail and a pipeline company in the nation.
According to the goals of the company, there goal is to grow the business to have a R100 billion business by 2020. This business is a limited liability company that is owned majorly by the Department of Public Enterprises of South Africa. The government of the country are known to be the sole share holder that the business has in the nation.
So based on the question that we have here we can conclude that the The amount of capital that Transnet is said to be able to raise is put at R100 billion business by 2020.
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The graphs illustrate an initial equilibrium for the economy. Suppose that the stock market broadly increases.
Use the graphs to show the new positions of aggregate demand (AD), short-run aggregate supply (SRAS), and long-run
aggregate supply (LRAS) in both the short run and the long run, as well as the short-run and long-run equilibriums resulting
from this change. Then, indicate what happens to the price level and real GDP (or aggregate output) in the short run and in the
long run.
Answers
Since the stock market increases broadly, this has the effect of expanding the aggregate demand thus, shifting it rightwards. This consequently leads to an increase in price level and real GDP. See the Short Run Effect Graph.
In the Long Run, given that demand shifted to the right, this created an imbalance between demand and expected price levels.
All things being, equal the laws of demand and supply as it affects price trigger an upward adjustment in price hence creating a new equilibrium point. See the Long Run Effect Graph.
What is aggregate demand?Aggregate demand, also known as domestic final demand in macroeconomics, is the entire demand for final products and services in an economy at any particular time.
It is frequently referred to as effective demand, albeit this phrase is differentiated at times. This is a country's demand for its gross domestic output.
Aggregate demand is estimated by combining consumer expenditure, government and business investment spending, and net imports and exports. AD = C + I + G + Nx is the equation that represents it.
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What is a disadvantage of digital payments
Answers
Answer:In conclusion, virtual payments offer many advantages, including convenience, security, and reduced costs. However, there are several disadvantages to consider, such as technical issues, security risks, and limited consumer protection.
Explanation:
Common barriers of entry of small businesses into market
Answers
Government rules, the requirement for permits, and having a rivalry with a big company as a starting small firm are all examples of entry barriers.
Special tax incentives for established businesses, patent safeguards a strong reputation among devoted consumers, and the high cost of switching are a few examples of common entrance obstacles. The requirement for new businesses to get permits or authorization from regulators prior to operation is another hurdle. When creating a marketing plan, the advertising expert must take into account each of these competitive barriers.
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Excise and Sales Tax Calculations
Clifford Company has just billed a customer for $1,100, an amount that includes a eight percent excise tax and a two percent state sales tax.
a. What amount of revenue is recorded?
b. Prepare a general journal entry to record the transaction on the books of Clifford Company.
Round all answers to the nearest dollar.
a. Amount of recorded revenue $Answer
990
b.
General Journal
Date Description Debit Credit
Dec.31 Answer
Accounts Receivable
Answer
1,100
Answer
0
Excise Tax Payable Answer
0
Answer
9
Sales Tax Payable Answer
0
Answer
0
Answer
Sales
Answer
0
Answer
990
To record sale on account subject to excise tax and sales tax.
Answers
A sales tax is a fee that is paid to the government when specified goods and services are sold. Typically, laws permit the vendor to charge the customer the tax at the time of purchase.
Use taxes are typically used to describe taxes on goods and services that consumers pay directly to a governing authority. The sale and use tax is frequently exempted for some goods and services, including food, education, and medical.
A sales tax is similar to a value-added tax (VAT) that is levied on products and services. Key distinctions can be found in the comparison with sales tax.
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3. How did followers in this case act in ways that contribute to the power of destructive leaders and their goals? What was the debilitating impact their actions had on the organizations?
Answers
The followers in the Penn State Sexual Abuse Scandal acted in ways that contributed to the power of the destructive leader and his goals.
How did followers contributed to power of the destructive leader?Jerry Sandusky was convicted of sexually abusing multiple young boys over a period of several years which has erupted following Sandusky's arrest revealed a pattern of behavior in which followers including university officials and members of the football program.
This rruption enabled Sandusky's abusive behavior by ignoring or covering up reports of misconduct. In some cases, individuals who spoke out against Sandusky's behavior were ostracized or punished for challenging the status quo. This pattern of behavior allowed Sandusky to continue his abuse unchecked and contributed to the power he held over those around him.
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What do you feel are the advantages of tracking and managing the gross profit margin percentage in your business?
Answers
Tracking and managing the gross profit margin percentage empowers businesses to assess financial performance, control costs, set prices effectively, benchmark against competitors, make informed decisions, and ensure financial stability and growth.
Tracking and managing the gross profit margin percentage in a business offers several advantages:
Financial Performance Analysis: The gross profit margin percentage provides a clear picture of a company's financial performance by measuring the profitability of its core operations. It indicates how effectively the company is generating revenue and managing its direct costs. By tracking this metric over time, businesses can assess their profitability trends and make informed decisions to improve their financial health.
Cost Control and Pricing Strategy: Monitoring the gross profit margin percentage helps in evaluating and controlling costs associated with production or service delivery. By understanding the direct costs and their impact on profitability, businesses can identify areas where cost reductions or efficiencies can be implemented. Additionally, the gross profit margin percentage can guide pricing decisions, as businesses need to set prices that not only cover costs but also generate sufficient gross profit to support operations and growth.
Performance Benchmarking: Comparing the gross profit margin percentage with industry standards or competitors can provide insights into a company's competitiveness and efficiency. It enables businesses to assess their relative performance in terms of profitability and identify areas for improvement. Benchmarking against industry leaders can also inspire strategies for enhancing profitability and market positioning.
Decision Making: The gross profit margin percentage is a valuable tool for making informed business decisions. It helps in evaluating the profitability of different products, services, or customer segments. By analyzing the gross profit margin percentage associated with each, businesses can identify their most profitable offerings and allocate resources accordingly. It also assists in assessing the viability of new business opportunities or expansion plans by estimating their potential impact on profitability.
Financial Stability and Growth: Tracking and managing the gross profit margin percentage contributes to the financial stability and growth of a business. A healthy and consistent gross profit margin indicates that a company is generating sufficient revenue to cover direct costs and contribute towards covering overhead expenses and generating net profit. It provides a foundation for reinvestment, expansion, and long-term sustainability.
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