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Hitman42 [59]
3 years ago
9

Calip Corporation, a merchandising company, reported the following results for October: Sales $413,000 Cost of goods sold (all v

ariable) $169,100 Total variable selling expense $20,700 Total fixed selling expense $17,900 Total variable administrative expense $13,100 Total fixed administrative expense $30,400 The contribution margin for October is:_________.
a) $210,100
b) $364,700
c) $161,800
d) $243,900
Business
1 answer:
krok68 [10]3 years ago
5 0

Answer:

$243,900

Explanation:

Calip corporation reported the following results for the month of October

Sales= $413,000

Cost of goods sold= $169,100

Total variable sling expenditure= $20,700

Total fixed selling expense= $17,900

Total variable administrative expense= $13,100

Total fixed administrative expense= $30,400

The contribution margin can be calculated by subtracting the total cost of goods sold from the sales

= $413,000-$169,100

= $243,900

Hence the contribution margin for October is $243,900

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Suppose Musashi and Rina are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix
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Answer:

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Explanation:

As per the data given in the question,

a).

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When Musashi selects left, Rina selects right because (6>1)

When Musashi selects left, Rina selects right because  (7>6)

So only dominant strategy is for Rina to choose Right

b)

In a Nash equilibrium, the players decide their strategies taking in consideration other strategy.

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3 years ago
Tim Cook is described as delegating responsibilities to others, empowering them, and sharing the limelight with his leadership t
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Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepa
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Answer and Explanation:

The Preparation of income statement, retained earnings statement, and balance sheet is prepared below:-

<u>                                           Elliptical Consulting</u>

<u>                                            Income statement</u>

<u>                            For the Year Ended June 30, 2016</u>

<u>Particulars                                    Amount</u>

Revenue      

Fees earned                                 $60,000  

Less:

Expenses      

Salary expense               $32,375    

Supplies expense           $2,100    

Depreciation expense    $1,500    

Miscellaneous expense $2,000    

Total expense                                 $37,975  

Net income                                      $22,025

<u>                                        Elliptical Consulting</u>

<u>                                        Retained earning</u>

<u>                             For the Year Ended June 30, 2016</u>

<u>Particulars                                            Amount</u>

Opening balance                                 $52,200  

Add:Net income for the year               $22,025  

Total                                                       $74,225  

Less: Dividends                                       $2,000  

Closing balance of retained

earnings                                                  $72,225

<u>                                     Elliptical Consulting</u>

<u>                                       Balance Sheet</u>

<u>                         For the Year Ended June 30, 2016</u>

<u>Particulars                                            Amount</u>

Assets

Cash                             $27,000  

Accounts receivable   $53,500  

Supplies                       $900  

Total current assets                             $81,400  

Property plant and equipment

Office Equipment      $30,500  

Less:Accumulated

Depreciation              $6,000             $24,500  

Total Assets                                         $105,900  

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Accounts payable     $3,300

Salaries payable        $375

Total liabilities                                      $3,675

Stockholder's Equity    

Common Stock        $30,000  

Retained earnings    $72,225  

total stockholders Equity                    $102,225  

Total liabilities and Stockholder's

Equity                                                    $105,900

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