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Sati [7]
3 years ago
15

Holly's Ham, Inc. sells hams during the major holiday seasons. During the current year 11,000 hams were sold resulting in $220,0

00 of sales revenue, $55,000 of variable costs, and $24,000 of fixed cost. The break-even point in sales dollars is: A. $320,000 B. $16,000 C. $32,000 D. $61,740
Business
1 answer:
aalyn [17]3 years ago
4 0

Answer:

The break-even point in sales dollars is: C. $32,000

Explanation:

During the current year 11,000 hams were sold resulting in $220,000 of sales revenue, $55,000 of variable costs, and $24,000 of fixed cost.

Contribution margin ratio = (Sales - Total Variable cost)/Sales = ($220,000 - $55,000)/$220,000 = 0.75

The break-even point sales dollars is calculated by using following formula:

Break-even point in sales dollars = Fixed cost/Contribution margin ratio = $24,000/0.75 = $32,000

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On December 31, 2019 a company’s Accounts Receivable balance was $440,000. During the year the company recorded credit sales of
Semenov [28]

Answer: Option C - Assets are Overstated; No effects on liabilities: Equity is Overstated

Explanation:

When Bad debts are recorded, they will reduce the Accounts Receivable account because less money will be expected from debtors. Accounts Receivable is an asset account so it will be Overstated if bad debts are not recorded.

Equity will also be overstated because bad debts is an expense that is sent to the Income statement. If this expense is not deducted, the net income will be larger than it should be and when added to Equity it will overstate it.

6 0
3 years ago
One problem in the interstate trucking industry is the number of trucks that return empty after making a delivery. There is a we
balu736 [363]

Answer:

Yield management pricing

Explanation:

Yield management pricing is the charging of different prices for a given set of capacity at a specific time in order to maximize revenue. This is based on the demand and supply in the market and is very common in industries such as airlines, hotels and resorts. When there is very high demand for airline seats, prices for them are high. However, if some of those passengers decided to refund their tickets, close to departure and the flight would be taking off soon, instead of flying with empty seats and no revenue from them, the airline would decide to sell these same seats at a cheaper rate in order to gain some revenue. This is a form of revenue maximization.

6 0
3 years ago
Choose the correct answer. a.The cost of a CPA review course is deductible by a bookkeeper on his Schedule C. b.Expenses require
Snowcat [4.5K]

Answer:

d.Expenses for travel as a form of education are not deductible.

Explanation:

Expenses in the nature of travel, are not allowed while the travel might be for the purpose of education.

This is because it is not in the nature of direct expense.

As the expense for the purpose of business which are important for the business to pursue in a more positive manner is preferable and essential for the business.

As extra education and knowledge provide excellence to perform the task for which knowledge is acquired.

6 0
3 years ago
Assume Chester Corp. is downsizing the size of their workforce by 20% (to the nearest person) next year from various strategic i
Tasya [4]

Answer:

$311,100

Explanation:

Solution

Recall that:

Assume Chester corp downsized the size of their workforce by = %

The exit interviews cost estimated = 100

Additional normal costs of separation = $5000

Now,

The Total Employee = 305

The Down Sizing = 20%

Thus,

The Total Employee = 305 x 20% = 61 employees

so,

The Separation cost per employees = $5000

The Exit interview cost = $100

Total cost = $5,100

Now,

The total overall cost of separation = 61 employees x total cost of separation per employees

Which is,

= 61 x 5100  = = $311,100

                                                                             

3 0
3 years ago
At Tuxedo Park Tire and Rubber, a number of striking workers are picketing at the plant entrance. Because the picketers have sta
andre [41]

Answer:

Injunction

Explanation:

An Injunction is a court order requiring a person or a group of persons to desist from carrying out certain activities. If the person or group of persons desist from obeying the  injunction, the individual(s) are in contempt of the court

Types of injunctions

  1. Permanent Injunctions
  2. Temporary restraining orders
  3. Preliminary injunctions.

The striking workers are affecting the activities of the company they work for. The next step the company is supposed to take is to take legal actions to stop the striking workers. this can be achieved with an injunction

4 0
2 years ago
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