A sales return occurs when a customer returns merchandise for a refund. A sales allowance is when they keep the problematic item but you reduce the price for them. If customers purchase with credit and make an early payment, a sales discount is a price reduction.
A sales discount is a price decrease that the seller offers in exchange for the buyer paying the vendor in full and on time. This strategy is frequently applied when a seller needs money right away.
A sales discount is a lower price that a company offers on a good or service. Find out how to add discounts to invoices. A sales discount, usually referred to simply as a "discount," offers clients of a business a lower price on one or more of the goods or services being provided.
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Answer:
P = 380
Explanation:
At equilibrium, we have:
Qs = Qd
Since Qs = 1,050 and Qd = 2,000 – 2.5P, we therefore have:
1,050 = 2,000 – 2.5P
We now proceed to rearrange and solve for P as follows:
1,050 - 2000 + 2.5P = 0
2.5P = 2,000 - 1,050
2.5P = 950
P = 950 / 2.5 = 950 ÷ 2.5
P = 380
Therefore, the equilibrium price 'P' is equal to 380.
Answer:
Direct material quantity variance= $810 unfavorable
Explanation:
Giving the following information:
Standard quantity 6.5 liters per unit Standard price $1.00 per liter
Actual production was 2,400 units.
The company used 16,410 liters of direct material to produce this output.
<u>To calculate the direct material quantity variance, we need to use the following formula:</u>
<u></u>
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Standard quantity= 6.5*2,400= 15,600
Direct material quantity variance= (15,600 - 16,410)*1
Direct material quantity variance= $810 unfavorable
Answer: This chart demonstrates that the marginal cost initially decreases as production increases.
Marginal Cost refers to the cost of producing an additional unit of a good. As production increases, marginal costs will initially decrease.
In the short run, factors of production like capital are fixed. Only labor is variable and varies with the number of units produced. Initially, employing more labor results in better productivity and help in decreasing the marginal costs. However, as more units of labor are employed, labor become less productive and the law of diminishing marginal returns sets in. Hence the marginal cost curve begins to rise.
Answer:
$1,771
Explanation:
Federal income tax = Gross pay × 12% = $2,300 × 12% = $276
State income tax = Gross pay × 3% = $2,300 × 3% = $69
Social security tax = Gross pay × 6% = $2,300 × 6% = $138
Medicare tax = Gross pay × 1.5% = $2,300 × 1.5% = $34.50
Disability insurance = Gross pay × 0.5% = $2,300 × 0.5% = $11.50
Gross pay = Hourly pay × Number of hours × Number of employees
= $11.50 × 40 × 5
= $2,300
Net pay = Gross pay – All deduction
= $2,300 – (276 + 69 + 138 + 34.50 + 11.50)
= $1,771
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