A consumer protection agency that protects students who take out student

Garcia Co. sells snowboards. Each snowboard requires direct materials of $119, direct labor of $49, and variable overhead of $64

kondaur [170]

Answer:

$70 per units

Explanation:

Calculation to determine What will be the selling price per unit if Garcia uses a markup of 15% of total cost

First step is to calculate total cost per unit.

Using this formula

Total Cost per unit = Unit Direct materials cost + Unit Direct labor costs + Unit Variable Costs + Unit Fixed Costs

Let plug in the formula

Total Cost per unit = $119 + 49 + 64 + 70

Total Cost per unit = $302

.

Second step is to calculate the Selling Price Per Unit

Selling Price Per Unit = $302 +( 15%*$302)

Selling Price Per Unit = 302 + 45.30

Selling Price Per Unit = $347.30

Third step is to calculate the Total Fixed Costs using this formula

Total Fixed Costs = fixed overhead costs + Fixed selling and administrative costs

Let plug in the formula

Total Fixed Costs=$673,000+$160,000

Total Fixed Costs= $833,000

Now let calculate the Fixed Cost per unit using this formula

Fixed Cost per unit = Total Fixed Costs / Total Units

Let plug in the formula

Fixed Cost per unit =$833,000/11,900

Fixed Cost per unit = $70 per unit

Therefore What will be the selling price per unit if Garcia uses a markup of 15% of total cost is $70 per unit

5 0

3 years ago

Consider the following transactions: The company uses supplies purchased in the previous period, $1,500.The company pays cash fo

Step2247 [10]

Answer:

Accrual basis expense is $1,500

Cash basis expense is $6,000

Explanation:

A company that follows accrual basis records expenses when it is incurred irrespective of when it is paid.

The company utilizes supplies in the current period that was purchased in the previous period. So, it will be recorded in the current period as accrual basis expense of $1,500.

Rent paid in advance is a liability for company following accrual basis, so it is not an accrual basis expense. It is a cash basis expense as an expense is recorded when cash is paid under cash basis.

So, cash basis expense is $6,000.

Loan amount repaid is a liability in both cases. So, liability is reduced by $10,000. It is not an expense. Only interest amount is expensed.

8 0

3 years ago

Identify the various acts of copyright violation and measures to prevent those acts. Monica recently heard about copyright. She

Romashka [77]

Answer:

As given below.

Explanation:

A copyright violation is also known as breach or infringement of privacy that is protected by law and without any legal permission is not allowed to be used by others, as the sole right resides with the owner.

The term Freebooting has also been used to describe the unauthorized copying of the online media or content that as plundering or the theft of resources.

The non-commercial crimes associated with it are Legality of downloading and uploading,

DMCA and WIPRO have made certain rules and regulations Acts that relate to the prevention of persons from the control to access the work

6 0

3 years ago

32. How many significant accounting policies are listed under its Summary of Significant Accounting Policies

Gnom [1K]

Answer:

There are various significant accounting policies which are governed by IFRS and GAAP framework.

Explanation:

The significant accounting policies are revenue recognition, inventories accounting cost or NRV, Property plant and equipment, goodwill recognition and others. These policies are governed by accounting frameworks such as GAAP and IFRS. Both of these frameworks have differences in accounting treatment.

4 0

3 years ago

When calculating loan payments, to show a down payment toward the purchase of an asset, you must adjust the __________ argument

Paha777 [63]

When calculating loan payments, to show a down payment toward the purchase of an asset, you must adjust the pv argument of the financial function.

What is pv argument?

The following arguments are used with the PV function rate: The interest rate per compounding period (necessary argument). The monthly interest rate on a loan with a 12% yearly interest rate and monthly payments would be 12% divided by 12 or 1%. The rate would then be 1%.

What is financial function?

In a firm, the functions used to obtain and manage financial resources in order to make a profit are referred to as the finance function. It generates pertinent financial resources and information, enhancing the effectiveness of other corporate operations and activities such as planning and decision-making.

Learn more about financial function: brainly.com/question/13169279

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7 0

1 year ago