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Leni [432]
3 years ago
8

Morning Smiles Coffee Company manufactures Stoneware French Press coffee makers and sold 8,000 coffee makers during the month of

March at a total cost of $612,500 Each coffee maker sold at a price of $100. Morning Smiles also incurred two types of selling costs: commissions equal to 5% of the sales price and other selling expense of $45,000. Administrative expense totaled $47,500
Required:

Prepare an income statement for Morning Smiles for the month of March and calculate the percentage of sales revenue represented by each line of the income statement. (Note: Round answers to one decimal place.)
Business
1 answer:
wariber [46]3 years ago
8 0

Answer:

The income statement is a report that shows the financial performance of a business for a over a given period of time, in this case a month.

Explanation:

Morning Smiles

Income statement for the Month

                                                                   $

Sales revenue                800,000  

Cost of sales                        <u>(612,000)   </u>

Gross profit                          188,000

Less  

Variable selling cost(5%×800,000) <u> (40,000)   </u>

Contribution                              148,000

Other selling cost                   (45,000)

Administrative expense    <u>(47,500)</u>

Profit                                      55,500

Cost of sales = 612,000/800,000=  76.5%

Gross profit   = 188,000/800,000=  23.5%

Variable sell. cost = 40,000/800,000 =  5%

Contribution =  148,000/800,000 =  18.5%

Other selling cost = 45,000/800,000= 5.6%

Administrative expe= 47,500/800,000 = 5.9%

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Maru [420]

Answer:

present value of perpetuity = $29615.93

Explanation:

given data

pay = $300 per year

interest rate = 3%

solution

we get here present value payment after 5 year is

present value = \frac{future\ value}{1+ discount\ rate } ...........1

present value = \frac{1000}{(1+0.03)^5}

present value = $862.60

and

now we get present value on purchase date

present value = \frac{payment}{interest\ rate}   ......2

present value = \frac{862.60}{0.03}

present value = $28753.33

and

present value of perpetuity is

present value of perpetuity =  $862.60 + $28753.33

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5 0
3 years ago
Under the path-goal theory of leadership, what type of leader behavior includes setting challenging goals for the employee with
murzikaleks [220]

In achievement oriented leadership where leader behavior includes setting challenging goals for the employee with the expectation that those goals will be achieved.

What are the leadership behaviors in the path-goal theory of leadership?

The four categories of leadership conduct identified by the path-goal theory are:

  • Achievement-oriented
  • Directive path-goal clarifying
  • Supportive
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What must leaders do for their employees according to path-goal theory?

According to the path-goal theory, achievement-oriented leadership conduct involves encouraging subordinates to perform to the best of their ability by establishing high standards, praising excellence, and expressing faith in subordinates' talents.

Learn more about path-goal theory of leadership: brainly.com/question/17018511

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5 0
2 years ago
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $81,400.
ivann1987 [24]

Answer:

$7,326

Explanation:

Double Decline Balance = 2 x SLDP x SLDBV

where,

SLDP = Straight Line Depreciation Percentage

          = 100 ÷ useful life

          = 100 ÷ 20

          = 5 %

and

SLDBV = Straight Line Percentage Book Value

Year 1

Double Decline Balance = 2 x 5% x $81,400

                                           = $8,140

Year 2

Double Decline Balance = 2 x 5% x ($81,400 - $8,140)

                                           = $7,326

Therefore

The machine's second-year depreciation using the double-declining balance method is $7,326.

4 0
3 years ago
JTL has 148,000 shares of stock outstanding. The firm has extra cash so it announced this morning that it is willing to repurcha
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Answer:

A tender offer.

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This is simple explained to be the offer put to place to execute a work or even services for a said/given price. These offers are typically said to be done publicly; shareholders in some cases a been put to place to sell their shares for a specified price and within a particular window of time. Target sales orders which are been tabled/offered are been usually placed at certain premium value which are effective in market price and is often contingent upon a minimum or a maximum number of shares sold. In many other cases, tender are seen to be in security forms or other non-cash alternatives are offered in exchange for shares.

3 0
3 years ago
A Condominium owner files a declaration with the county clerk which divides his individual ownership and ownership in common ele
Degger [83]

Answer:

subdivision

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4 0
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