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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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The premium on a three-year insurance policy expiring on December 31, 20x11, was paid in total on January 1, 20x9. The original
bezimeni [28]

Answer:

b. The same as it would have been if the original payment had been debited initially to an expense account

Explanation:

We can use an example to explain this:

original journal entry to record a 3 year insurance policy on January 1 is:

Dr Prepaid insurance 3,600

    Cr Cash 3,600

Adjusting entry on December 31

Dr Insurance expense 1,200

    Cr Prepaid insurance 1,200

balance of prepaid insurance = $3,600 - $1,200 = $2,400

If instead of recording prepaid insurance on January 1, you recorded insurance expense:

Dr Insurance expense 3,600

    Cr Cash 3,600

Adjusting entry on December 31

Dr Prepaid insurance 2,400

    Cr Insurance expense 2,400

balance of prepaid insurance = $2,400

5 0
3 years ago
Each year a cash grant is given to a deserving college student. The grant consists of the interest earned that year on a $440,00
Harlamova29_29 [7]

Answer:

The cash award will be equal;l to $444422.01

Explanation:

We have given amount invested P = $440000

Rate of interest r = 8.3%

Time t = 1 year

As the amount is compounded on daily basis

We know that 1 year = 365 days

So rate of interest r=\frac{1}{365}=0.00273 %

Time period n = 365

We know that final amount is equal to A=P(1+\frac{r}{100})^n

So A=440000(1+\frac{0.00273}{100})^{365}=444422.01$

So the cash award will be equal;l to $444422.01

6 0
3 years ago
Alexandra wants to play soccer & also work at McDonald's. She cannot do both so she decides to play soccer. What is her oppo
Tanya [424]

Answer:

Opportunity cost is giving up the working at Mc Donald's

Explanation:

Opportunity cost is the term which is stated as the profit, value of something or the benefit which is given up for something in order to acquire or accomplish something else.

In this case, Alexandra wants to work at Mc D and play soccer. So, she decided to play soccer. Therefore, the opportunity cost is working at Mc Donald in order to play.

4 0
3 years ago
Which of these groups of workers is not a part of Handy's Shamrock organization?
kolezko [41]

Answer:

#1 Outsourced workers

Explanation:

Outsourced workers are not employees of Handy's Shamrock organization. They are workers who have been contracted by Handy Shamrock to carry out specific functions.

In most cases, outsources workers are employed by a company that specializes in certain tasks. For example, Handy Shamrock may need cleaning workers. Instead of hiring cleaners, they may contract a cleaning company to do the job for them.  The cleaning company workers that will be cleaning at Handy Shamrock will be outsourced workers.

4 0
2 years ago
Suppose the cross-price elasticity of demand between goods X and Y is 4. How much would the price of good Y have to change in or
boyakko [2]

Answer:

Increase by 5%.

Explanation:

Given that,

cross-price elasticity of demand between goods X and Y = 4

Percentage increase in consumption of good X = 20 %

cross-price elasticity of demand = Percentage change in quantity demanded for good X ÷ Percentage change in price of good Y

4 = 20 ÷ Percentage change in price of good Y

Percentage change in price of good Y = 20 ÷ 4

                                                                = 5%

Therefore, the price of good Y must be increase by 5% in order to increase the consumption of good X by 20 percent.

3 0
2 years ago
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