Answer:
$
Material used 2,500
Direct labour 5,000
Overhead applied 200
Cost of goods sold 7,700
Explanation:
The overhead applied is the difference between cost of goods sold and cost of material used and direct labour. The cost of goods sold is $7,700 while the cost of material and labour is $7,500. The difference of $200 represents the overhead applied.
The reason that the elasticity of demand is 0.62 for business and 0.12 for economy is because the economy class is more elastic than that of the business.
When the flight ticket of those flying business class is raised, they would not be affected much because they are rich and can afford it. They do not care much about the raise in price.
For the average flyer using the economy flight, raising the price of the ticket would affect him and he may end up reducing his demand for it.
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Answer:
B) They are employees.
Explanation:
They work for Sally. Sally hired Truly, Glen and Fred and pays them an hourly wage, and provides the tools that they use to perform their work. She also supervises and directs their job. They are not independent contractors due to the direct relation that exists between them and the fact that they obey Sally's orders.
Answer:
$218,400
Explanation:
The computation of contribution margin is here below:-
Units Cost per unit Total
Sales 6,000 $88 $528,000
Less:
Variable production cost 6,000 $40.8 $244,800
Variable selling and
administrative costs 6,000 $10.8 $64,800
Contribution margin $218,400
Therefore the we multiplied the sale unit with cost per unit, in the similar way we multiplied the Variable production cost unit with cost per unit and Variable selling and administrative costs with cost per unit to reach the contribution margin.
Answer:
$4,375
Explanation:
Given that,
Crane Company balance = $9,250
Balance of Hale company = $3,000
Balance of Janish company = $1,875
January 1 balance in the Valdez Company subsidiary account:
= Crane Company Accounts Payable control account + Hale Company balance + Janish Company balance
= $9,250 + $3,000 + $1,875
= $4,375
