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3 years ago

It is estimated that a first time dui costs roughly ______ once all potential costs are factored in.

1 answer:

4 0

The estimated cost of first time DUI roughly around $1,000 dollars once the potential cost are factored in. The potential cost of a contract is the sum of all the estimated and actual cost of all the fees and reimbursable expenses associated with contact.

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Mcmurtry Corporation sells a product for $110 per unit. The product's current sales are 12,200 units and its break-even sales ar

denis23 [38]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Mcmurtry Corporation sells a product for $110 per unit. The product's current sales are 12,200 units and its break-even sales are 10,614 units.

<u>The margin of safety is the number of units or amount of dollars that provide genuine profit to the company. It is the "margin" that gives room to try new strategies</u>.

It is calculated using the following formula:

Margin of safety ratio= (current sales level - break-even point)/current sales level

Margin of safety ratio= (12,200 - 10,614) / 12,200

Margin of safety ratio= 0.13=13%

5 0

3 years ago

Precision Construction entered into the following transactions during a recent year.

shusha [124]

Answer:

Jan-02

Dr Bulldozer $ 250,000

Cr Cash $ 20,000

Cr Note Payable $ 230,000

Jan-03

Dr Bulldozer $ 20,000

Cr Accounts Payable $ 20,000

Jan-30

Dr Accounts Payable $ 20,000

Cr Cash $ 20,000

Feb-01

Dr Repair and Maintenance Expense $ 800

Cr Cash $ 800

Mar-01

Dr Computer Software $ 3,600

Cr Cash $ 3,600

Explanation:

Preparation of the journal entries for each of the above transactions.

Jan-02

Dr Bulldozer $ 250,000

Cr Cash $ 20,000

Cr Note Payable $ 230,000

(Purchased bulldozer)

Jan-03

Dr Bulldozer $ 20,000

Cr Accounts Payable $ 20,000

(Replaced tracks on bulldozer)

Jan-30

Dr Accounts Payable $ 20,000

Cr Cash $ 20,000

(Paid cash)

Feb-01

Dr Repair and Maintenance Expense $ 800

Cr Cash $ 800

(Repaired seat of bulldozer)

Mar-01

Dr Computer Software $ 3,600

Cr Cash $ 3,600

(Purchase computer software)

8 0

3 years ago

Rockwell Inc. reported the following results for the year ended June 30, 2016:

pychu [463]

Answer:

See attached file

Explanation:

The Retained Earnings Statement is prepared to show changes in the amount of retained earnings over the accountable period. Retained earnings and Stockholders´ contributions are the main accounts in Stockholders´ Equity.

The first ones are profits reserved by the company to invest in future projects rather than distribute as dividends to shareholders, that’s why are calculated as follows:

Retained Earnings Final Balance = Retained Earnings Beginning balance – Dividend in cash – Stock dividend + Net Income – Net loss.

Stock Divided will register as Stockholders´ contributions.

4 0

3 years ago

Suppose that the prices of good A and good B were to suddenly double. If good A is plotted along the horizontal axis and good B

Zigmanuir [339]

Answer:

The correct answer is option b.

Explanation:

A budget line shows the maximum possible combination of two goods that a consumer can purchase by spending his/her whole income.

The quantities of those two goods are mentioned on both the axes. If the price of both the products is doubled. The consumer will be able to afford half the quantity than what he was consuming earlier.

This will cause the budget line to shift to the left. This new budget line will be parallel to the initial one. The slope of the budget line will remain the same.

7 0

3 years ago

Peabody, Inc., sells fireworks. The company’s marketing director developed the following cost of goods sold budget for April, Ma

Viktor [21]

Answer:

Peabody, Inc.

a. Inventory Purchase Budget:

April May June

Budgeted cost of goods sold $79,000 $89,000 $99,000

Add Ending Inventory 17,800 19,800 21,000

Cost of Goods Available 4 Sale $96,800 118,800 120,000

Less Beginning Inventory 2,700 17,800 19,80

Purchases $94,100 $101,000 $100,200

b. The amount of Ending Inventory that Peabody will report on the end-of-quarter proforma balance sheet is:

$21,000

c. A Schedule of Cash Payments for Inventory:

April May June

70% in month of purchase 65,870 70,700 70,140

30% in the month following 15,000 28,230 30,300

Total payment $80,870 $98,930 $100,440

d. Balance of the Accounts Payable is:

$30,060

Explanation:

a) Data and Calculations:

1. Cost of Goods Sold Budget:

April May June July

Budgeted cost of goods sold $79,000 $89,000 $99,000 $105,000

Add Ending Inventory 17,800 19,800 21,000

Cost of Goods Available 4 Sale $96,800 118,800 120,000

Less Beginning Inventory 2,700 17,800 19,800 21,000

Purchases $94,100 $101,000 $100,200

Accounts Payable

Beginning balance $15,000 $28,230 $30,300

Purchases $94,100 $101,000 $100,200

Less payment:

70% in month of purchase 65,870 70,700 70,140

30% in the month following 15,000 28,230 30,300

Ending balance $28,230 $30,300 $30,060

5 0

3 years ago