Answer:
Net income = $3000
C. $ 3 comma 000
Explanation:
For a company, net income is the residual amount of earnings after all expenses have been deducted from sales. In short, gross income is an intermediate earnings figure before all expenses are included, and net income is the final amount of profit or loss after all expenses are included.
In this case.. There is only a buy and a sell trade.
Net income= selling price- cost price
Net income= $52000-$49000
Net income = $3000
Answer:A. Define the business mission
Explanation: Define the Business mission is the processes involved in tying to understand a given business,it helps to know the aims and objectives,the present situation and the impact a given business has.
In the case of Hewlett-Packard Company (HP) acquired Palm Computing Inc., HP will try to know how Palm computing has fared through the years and what impact will it have on his own business objectives when it is fully acquired.
Answer:
The journal entry is as follows:
Work in process A/c Dr. $158,700
Manufacturing overhead A/c Dr. $2,250
To Raw material inventory $160,950
(To record the issuance of materials)
Workings:
- Work in process is debited with direct material:
= 88,700 + 27,600 + 3,650 + 38,750
= $158,700
- Manufacturing overhead debited with indirect material cost = $2,250
Solution:
The home sells for = $120000
The commission that is paid by the seller is 3 percent
Therefore, commission = 3% of $120000 = $3600
The sales-person is on a 65 percent commission schedule with her broker which means that the saleperson gets the 65 percent amount of the commission.
Thus, the amount which is received by the salesperson from the given transaction is = 65% of $3600 = $2340
Therefore, the salesperson receives $2340 amount from the said transaction.
Answer:
Break-even point in units= 20,000 units
Explanation:
Giving the following information:
Selling price= $35
Unitary variable cost= $20 t
Total fixed cost= $300,000
<u>To calculate the break-even point in units, we need to use the following formula:</u>
<u></u>
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 300,000/ (35 - 20)
Break-even point in units= 20,000 units
