The ability to read, understand, and analyze accounting reports and financial statements is critical in understanding _____

34. Which of the following statements is correct? a. If oligopolists successfully collude, then their combined output will be eq

grandymaker [24]

Answer:

The correct answer is option d.

Explanation:

If oligopolists are able to collude successfully, they will be able to fix price and output similar to a monopoly.

In order to maximize profits, the oligopoly firms keep their prices higher than a perfectly competitive firm but lower than monopoly. The output level is kept higher than a monopoly firm but lower than a perfectly competitive firm.

5 0

3 years ago

The Maroon & Orange Gym, Inc., uses the accrual method of accounting. The corporation sells memberships that entitle the mem

SashulF [63]

Answer:

c. $180 in 2019

Explanation:

The company uses the accrual method of accounting. Under the method, revenues are reported on the income statement when they are earned, regardless of when the money is actually received or paid.

On July 1, 2017, the company sold a one-year membership and a two-year membership. In 2017, The Maroon & Orange Gym, Inc. has provided service for 6 months of each contracts.

Gross income of one-year membership in 2017 = $40 x 6 = $240

Gross income of one-year membership in 2017 = $30 x 6 = $180

Total income = $240 + $180 = $420

In 2018, the company continued to provide service for 6 months remaining of one-year membership and 12 months remaining of two-year membership.

Gross income of one-year membership in 2018 = $40 x 6 = $240

Gross income of one-year membership in 2018 = $30 x 12= $360

Total income = $240 + $360 = $600

In 2019, the company completed providing service for 6 months remaining of two-year membership.

Gross income in 2019 = $30 x 6= $180

4 0

3 years ago

Calculate the gross margin in both dollars and percentage for this swim department if net sales are $1,150,000 and cost of goods

yawa3891 [41]

The gross margin ratio is also known as the gross profit margin or the gross profit percentage.

The gross margin ratio is computed by dividing the company's gross profit dollars by its net sales dollars.

swim department net sales--------------------- $1,150,000

cost of goods sold -------------------------------- $638,400

This means its gross profit is $511,600 (net sales of $1,150,000 minus its cost of goods sold of $638,400) and its gross margin ratio is 44% (gross profit of $511,600 divided by net sales of $1,150,000).

6 0

3 years ago

Value Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The c

sertanlavr [38]

Answer:

$3,504

Explanation:

Catering supplies = $500 + $76 x j + $14 x m

where,

j = number of jobs in a month

m = number of meals in a month

therefore,

Planning budget for June, use the Actual number of jobs and meals into the formula (Actual Activity).

June Catering supplies = $500 + $76 x 13+ $14 x 144

= $3,504

Conclusion

The catering supplies in the planning budget for June would be closest to $3,504.

6 0

3 years ago

Inbound marketing represents a fundamental shift in the way that organizations operate because it is ______-centric.

Natasha2012 [34]

Inbound marketing represents a fundamental shift in the way that organizations operate because it is marketer-centric. This is an unconventional approach of systems since the usual ones is allowing the customers to be put first or customer-centric kind of approach. This kind builds the best relationship you can offer with the customer.

4 0

3 years ago

The ability to read, understand, and analyze accounting reports and financial statements is critical in understanding ______.