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Sauron [17]
1 year ago
15

Sales total $500,000, and fixed costs total $300,000. The contribution margin ratio is 68%. Profit = $

Business
1 answer:
marin [14]1 year ago
8 0

Profit = $40,000

Given,

Total sales are $500,000

Total fixed costs are $300,000

Contribution margin ratio is 68%

Solution:

Profit = Total Sales × Contribution margin ratio − Total Fixed costs

         = $500,000 × 68% − $300,00

           =$340,000 −$300,000

Profit =$40,000

Profit:

Profit; also known as net income is the financial gain acquired when the amount of revenue generated by a company exceeds costs and expenses. Profit is the bottom line of a company′s income statement that shows the financial performance during the period.

Learn more about contribution margin :

brainly.com/question/18594744

#SPJ4

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Answer:

The adjusting entries are given below

Explanation:

Adjusting Entries  

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7 0
3 years ago
"The legislation that requires a broker-dealer's research analysts to be completely separated from that firm's investment bankin
bogdanovich [222]

Answer:

Sarbanes-Oxley Act of 2002.

Explanation:

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6 0
3 years ago
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fomenos

Answer:

B. No effect on net income; no effect on total assets

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When you write off bad debt, the journal entry is:

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This actually had no effect on the income statement, since the allowance account is already a contra asset account.

When the write off is reversed because the customer paid the debt, the journal entry is:

Dr Accounts receivable XYZ

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Again, since the company is using the allowance method, there is no real effect on the income statement nor total assets in the balance sheet.

5 0
3 years ago
Other things the same, if workers and firms expected prices to rise by 2 percent but instead they rise by 3 percent, then in the
eduard

Answer:

the answer is  d

Explanation:

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A group of middle school students were given a short course in math. The instructor was curious if a monetary incentive (money)
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Answer:

Explanation:

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