Answer:
= 60%
Explanation:
Contribution ratio represents the marginal benefits of producing an extra unit. It is calculated by the formula.
CM ration= Contribution margin/ sales revenue
Contribution margin = sales - varible costs
therefore contribution margin ratio= sales -revenue/ sales x 100
=$20,000 - $ 8000/ 20,000 x 100
= 12000/20000 x 100
=0.6 x 100
= 60%
Since Kermit calculated his total asset turnover to be 1.13, this tells Kermit that <span>every dollar of assets generates $1.13 in sales.
</span>Please note that it is useful to add the options provided with the question, in order to get an accurate answer and have your question answered quicker.
Hope this helps!!
Answer:
The description is outlined in the clarification segment below, as per the case provided.
Explanation:
- The prevalence of either a lifetime tax on some kind of fixed income has been known to be a long-term perspective including its broader economic impact of taxation since they complement instead of just replace.
- The existing income taxes would raise the quarterly funds to meet, but perhaps the cumulative occurrence of tax would enhance the power to charge for existence.
Answer:
A credit balance of $3 comma 200
Explanation:
When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are
;
Debit Cash account
Credit Unearned fees or deferred revenue.
As the service is performed and the revenue is earned,
Debit Unearned fees
Credit Revenue.
Total amount collected in advance as at end of February
= $3,000 + $4,000 + $700
= $7,700 (Cr in Unearned revenue)
Amount of revenue earned as at end of February
= $4,500 (Dr in Unearned revenue)
Balance in in Unearned Revenue at the end of February
=$7,700 - $4,500
= $3,200
