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2 years ago

the contribution margin income statement allows users to easily judge the impact of a change in ______ on profit.

Business

1 answer:

Ne4ueva [31]2 years ago

6 0

The blank space has been correctly filled below:

The contribution margin income statement allows users to easily judge the impact of a change in <u>selling price, cost, or volume</u> on profit.

The contribution margin income statement is an evaluation of a former sales period. Entrepreneurs use this procedure to determine whether they made a profit or loss during the period.

After their evaluation, they realize the operating income or net income. The contribution margin is generated using this formula,

Net product revenue - Total variable cost ÷ product revenue.

A proper understanding of the fixed and variable costs is essential to accurately calculate the contribution margin.

Learn more here:

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In Mynex Company completes Job No. 26 at a cost of $4,500 and later sells it for $7,000 cash. A correct entry is:________.a. deb

Oduvanchick [21]

Answer:

b. debit Finished Goods Inventory $4,500 and credit Work in Process Inventory $4,500.

Explanation:

In manufacturing accounting, a good under production is held as a Work in Process Inventory. This implies the production of the good is not yet complete. At this stage, the Work in Process Inventory is debited with cost of the good under production.

Immediately the production of the good is complete, the good will be transferred to Finished Goods Inventory. At this stage, the Finished Goods Inventory is debited with the cost of the good which it production has been completed.

From the question, it stated that In Mynex Company completes Job No. 26 at a cost of $4,500 before it later sells it for $7,000 cash. Among all the options given, only correct option is b. debit Finished Goods Inventory $4,500 and credit Work in Process Inventory $4,500.

This is because option b. shows that Job No. 26 has been completed at a cost of $4,500. Based on the explanation above,the company has to debit Finished Goods Inventory $4,500 and credit Work in Process Inventory $4,500.

It should be noted that we are to record the completion of Job No. 26 first, not the sale of it.

5 0

3 years ago

You have sought permission from a hospital to place brochures for your product in their gift shop and cafeteria. The hospital ad

Leno4ka [110]

Answer:

The correct answer Marketing in health care facilities is an acceptable practice, as long as it takes place in common areas where patients are not receiving or waiting to receive health care and as long as the hospital displays materials for all plans they offer.

Explanation:

They must also comply with the state and citizen responsibility to protect individual and collective health, by minimizing risks, damages and negative impacts on human health from the consumption of goods and services, in establishments of public health interest, to through verification, advice and technical assistance of regulatory compliance, in aspects related to sanitary conditions: infrastructure, water and basic sanitation, quality control, processes and procedures, qualification of human talent, monitoring of health effects.

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3 years ago

Read 2 more answers

es $ 160,000 Accounts receivable increase $ 10,000 Expenses: Inventory decrease 16,000 Cost of goods sold 100,000 Salaries payab

BARSIC [14]

Answer:

Statement of Cash Flows

Cash from operating activities

Net Income $24,000

Adjustments to reconcile net income with

net cash flow from operating activities:

Depreciation 12,000

Increase in accounts receivable (10,000)

Decrease in inventory 16,000

Salaries payable increase <u> 1,000 $19,000</u>

Net cash flow : Operating activities $43,000

8 0

3 years ago

If the nominal exchange rate between the US dollar and the Canadian dollar is C $ 0.89 to the US dollar, how many dollars is req

Olin [163]

Answer:

1) 2.8 USD

2)There are several methods:

1) Modifying Reserve Requirements

2) Changing Short-Term Interest Rates

3) Conducting Open Market Operations

Explanation:

I) First of all, the nominal exchange rate describes how much foreign currency can be exchanged for a unit of domestic currency, but the real exchange rate indicates how much the goods and services in the domestic country can be exchanged for the goods and services in a foreign country.

If 1USD=0.89CAD, then 1 CAD=1/0.89=1.12USD

Then 2.5 CAD = 2.5*1.12= 2.8 USD so we will need 2.8 USD to get 2.5 CAD.

II) As we know, the movement of the money supply is the responsibility of the monetary policy activities by central banks. There are several methods:

1) Modifying Reserve Requirements: means that it is possible to influence by modifying the reserve requirements to increase or decrease the money supply. More deeply, this modification refers to the amount of funds banks have to keep against deposits in bank accounts. By lowering the reserve requirements, banks are able to loan more money, which grow the overall supply of money in the economy. Conversely, by increasing the banks' reserve requirements, it will be possible to decrease the size of the money supply.

2) Changing Short-Term Interest Rates: means that it is possible to change the interest rates in short terms to alter the money supply. It’s all about the changing the discount rates. By lowering the rates, it is possible increase the money supply and boost economic activity.

3) Conducting Open Market Operations: means that it is possible to increase or decrease the money supply conducting open market operations, which affects the funds rate. So the authority who deals with the monetary policy buys and sells government securities in the open market. If the authority wants to increase the money supply, it will purchase government bonds as a result this supplies the securities dealers who sell the bonds with cash, increasing the overall money supply. However, if the authority wants to decrease the money supply, it will send bonds from its account, thus taking in cash and removing money from the economic system as a result, adjusting the funds rate is a heavily anticipated economic event.

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4 years ago

LO 8.5Identify several causes of a favorable labor rate variance.

arlik [135]

Answer and explanation:

Direct labor rate variance contrasts current direct labor costs over the same duration of service with usual direct labor costs. Favorable fluctuations in the labor rate can be caused by hiring more unskilled workers, reducing the minimum wage, and inappropriately setting indirect labor costs.

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4 years ago