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3 years ago

Use the information below to answer questions 4-7. Drake Company's income statement for the most recent year appears below:

Business

1 answer:

Colt1911 [192]3 years ago

6 0

Answer:

(A) $731,250

Explanation:

The formula to compute the break-even point in sales dollars is shown below:

= (Fixed expenses or Fixed cost) ÷ (Contribution ratio)

where,

Contribution ratio = Contribution margin ÷ sales

= $208,000 ÷ $650,000

= 0.32 or 32%

And, the fixed expense is $234,000

Now put the values to the above formula

So, the value would equal to

= $234,000 ÷ 32%

= $731,250

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Answer:

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What term defines the prescribed forms and practices of appropriate behavior?.

Anastaziya [24]

The term that defines the prescribed forms and practices of appropriate behavior is called etiquette.

<h3>What is etiquette?</h3>

Etiquette are behavior expected to be complied with people. It means acceptable standard of behavior in the society.

Hence, the term that defines the prescribed forms and practices of appropriate behavior is called etiquette.

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1 year ago

MGM Resorts Incorporated is expected to grow at an exceptionally high rate over the next 2 years due to the success of Macau cas

Burka [1]

Answer:

The value of a share of MGM Resorts stock today will be $16.42

Explanation:

In order to calculate the value of a share of MGM Resorts stock today we would have to calculate the following steps:

Step-1, Dividend for the next 2 years

Dividend per share in Year 0 (D0) = $1.20 per share

Dividend per share in Year 1 (D1) = $1.4400 per share [$1.20 x 120%]

Dividend per share in Year 2 (D2) = $1.7280 per share [$1.4400 x 120%]

Step-2, Share Price in Year 2

Dividend Growth Rate after Year 2 (g) = 4.00% per year

Required Rate of Return (Ke) = 14.00%

Share Price in Year 2 (P2) = D2(1 + g) / (Ke – g)

= $1.7280(1 + 0.04) / (0.14 – 0.04)

= $1.7971 / 0.10

= $17.97 per share

Step-3, The Current Stock Price

As per Dividend Discount Model, Current Stock Price the aggregate of the Present Value of the future dividend payments and the present value the share price in year 2

Year Cash flow ($) PVF at 14.00% Present Value of cash flows ($)

[Cash flows x PVF]

1 1.4400 0.877193 1.26

2 1.7280 0.769468 1.33

2 17.97 0.769468 13.83

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Hence, the value of a share of MGM Resorts stock today will be $16.42

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3 years ago

What cortex is the decision-making and planning center of consciousness

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Prefrontal cortex is the decision-making and planning center of consciousness.

<h3>What is prefrontal cortex?</h3>

The prefrontal cortex is said to be the seat of planning.

The cortex is a part of the brain which is the control of all mind activity. The prefrontal is located at the front of the brain and it helps planning of activities.

Therefore, prefrontal cortex is the decision-making and planning center of consciousness.

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1 year ago

Motorsports, Inc. had a predetermined overhead rate of $2 per direct labor hour. The direct labor hours were estimated to be 25,

Marat540 [252]

Answer:

$1,000

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For the computation of overhead over/under applied last year first we need to find out the applied overhead which is shown below:-

Applied overhead = Actual direct labor × Per direct labor

= 24,000 × $2

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Over applied overhead = Applied overhead - Actual overhead

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Therefore for computing the overhead over/under applied last year we simply applied the above formula.

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3 years ago