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charle [14.2K]
2 years ago
15

A firm that sells baseballs has estimated that at its current level of production its variable costs are $70 while its fixed cos

ts are $50. The firm has sold $300 worth of baseballs this year. What is the firm's total profit
Business
1 answer:
ella [17]2 years ago
6 0

The firm's total profit for this year based on the firm's current level of production is $180.

<h3>What is the total profit?</h3>

The total profit is the difference between sales revenue and total (variable and fixed) costs.

<h3>Data and Calculations:</h3>

Sales revenue = $300

Variable costs =    (70)

Contribution      $230

Fixed costs           (50)

Total profits      $180

Thus, the firm's total profit for this year based on the firm's current level of production is $180.

Learn more about total profits at brainly.com/question/21613450

#SPJ1

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The closing entry for dividends involves a debit to ______ and a credit to ______. (Select all that apply.)
alina1380 [7]

The closing entry for dividends involves a debit to <u>A. Retained Earnings</u> and a credit to <u>Dividends</u>.

<h3>What is a closing entry?</h3>

A closing entry is the journal entry at the end of the accounting period so that temporary ledger accounts (mainly income statement items) are moved to permanent accounts (balance sheet items).

<h3>Answer Options:</h3>

A. Retained Earnings; Dividends

B. Dividends; Retained Earnings

C. Dividends; Dividends Payable

D. Dividends Payable; Dividends

Thus, the closing entry for dividends is a debit to Retained Earnings, which is a permanent account, and a credit to Dividends (a temporary account).

Learn more about closing entries at brainly.com/question/13408214

7 0
2 years ago
A favorable materials price variance coupled with an unfavorable material usage variance would most likely result from:
Masteriza [31]
The purchase of low-quality materials would most likely the result of a favorable materials price variance coupled with an unfavorable material usage variance. Material price variance is the difference between the cost and the budgeted and actual cost to obtain an object or materials, multiply to the total amount of the product purchased. They are what you called positive value of direct material price and negative value of direct material price. A positive value of direct material price variance is the one that is favorable and it means that the direct material was purchased for a lesser price than the standard price. A negative value of direct material price variance is the one that is unfavorable and it means that more than the expected price per unit is paid.
3 0
3 years ago
A ________ is a formal document that states the goals of the business as well as the intended process for reaching those goals.
Digiron [165]
A business plan is a formal document that states the goals of the business as well as the intended process for reaching those goals. This provides a market analysis. This basically provides the investors an idea of how the company will make use of its money and conduct business.
3 0
3 years ago
On December 1, 20X1, Money Co. gave Home Co. a $200,000, 11% loan. Money paid proceeds of $194,000 after the deduction of a $6,0
zysi [14]

Answer: <em>(C.) $2,005</em>

Explanation:

Given :

Money Co. made a cash outflow of $194,000 for the $200,000 loan Money gave to Home Co.  

The book value of the loan is $194,000.

The stated rate is 11%.

Hence they will receive an effective interest rate of 12.4% on cash outflow.  

∴

Income from the loan = Book value × Effective interest rate × No. of months of the year

= $194,000 × 0.124 × \frac{1}{2}

= $2,004.67

3 0
3 years ago
Britt is a member of an environmental activist organization and has helped organize peaceful protests on campus. She is deeply i
larisa [96]

Answer:

Rebel

Explanation:

Burton Clark and Martin Trow, the two sociologists described about the four types of college subcultures.

1) Collegiate

2) Academic

3) Vocational

4) Rebel

Britt has all the characteristics of Rebel subculture, that is being deeply involved with ideas from the classroom and wider society of art, literature, and politics. They are aggressive nonconformism, and find critical detachment from the college they attend and from its faculty like Britt consider her professors ideas as outdated.

8 0
3 years ago
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