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Annette [7]
3 years ago
12

Item32 time remaining 46 minutes 2 seconds 00:46:02 item 32 item 32 time remaining 46 minutes 2 seconds 00:46:02 during a recent

fiscal year, creek company reported pretax income of $125,000, a contribution margin ratio of 25% and total contribution margin of $400,000. total variable costs must have been:
Business
1 answer:
abruzzese [7]3 years ago
3 0

The variable cost is calculated as -

Sales - Variable cost = Contribution Margin

Given, Contribution Margin = 25 %

Variable cost = 1 - Contribution Margin = 1 - 25 % = 75 %

25 % of Sales = Contribution Margin = $ 400,000

Sales = $ 400,000 ÷ 25 %

Sales = $ 1,600,000

Variable costs = 75% of Sales = 75 % × $ 1,600,000 = $ 1,200,000

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Turn company utilizes the lifo inventory method to calculate taxable income. which method is available to turn for financial rep
aleksley [76]

Turn company utilizes the LIFO inventory method to calculate taxable income. The method which is available to turn for financial reporting purposes is FIFO.

The Turn Company is a project management company which focuses on the year round oversight and execution of property turn and make ready contract services.

The Turn Company utilizes the LIFO inventory method in order to calculate taxable income. For most companies, FIFO (“First-In, First-Out”) method is the most logical choice since they use their oldest inventory first in the production of goods.

Suppose your inventory costs are going down, FIFO will allow you to claim a higher average cost per piece on newer inventory, which can help you save money on taxes.  

Hence, the Turn company utilizes FIFO for financial reporting.

To learn more about LIFO and FIFO here:

brainly.com/question/15344569

#SPJ4

4 0
1 year ago
thew recently purchased a new laptop for $1,500. He subsequently saw an advertisement for what appeared to be a similar model be
vovangra [49]

Answer:

The answer is post-purchase dissonance

Explanation:

Post-purchase dissonance is a situation in which a customer's perception is disturbed after buying a product or service. This results in the customer either regretting buying the product or considering returning the product.

One of the major reasons behind Post Purchase Dissonance is the external pressure on the customer while purchasing the product or service

8 0
3 years ago
An example of fast tracking a project schedule would be to overlap the design and production phases for a design-to-production p
Alex17521 [72]

Answer:

True is the correct answer.

Explanation:

3 0
3 years ago
Read 2 more answers
Which of these is an advantage of filing for Chapter 7 bankruptcy?
kotegsom [21]

Answer:

B) Debts can usually be erased in about 6 months.

3 0
2 years ago
Crane Roofing is faced with a decision. The company relies very heavily on the use of its 60-foot extension lift for work on lar
Novay_Z [31]

Answer:

The company should replace the equipment.

Explanation:

The cost analysis is calculated as follows;

                         Retain                Replace                 Net Income

                                     Equipment        Equipment         Increase (Decrease)

Operating expenses     $146,400                0                      $146,400

($24,400*6)  

Repair costs            $39,000                 0                    $39,000

Rental revenue                      0                 -$60000              $60,000

($10,000*6)  

New machine cost              0                $166,500            -$166,500

Sale of old machine   0               -$24,500              $24,500

Total cost                  $185,400   $82,000               $103,400

From the calculation above, the equipment should be replaced as it incur a lesser cost compare to when it is retained.

8 0
3 years ago
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