Answer:
Simply take the sales price minus the unit cost, and divide that number by the unit cost. Then, multiply by 100 to determine the markup percentage. For example, if your product costs $50 to make and the selling price is $75, then the markup percentage would be 50%: ( $75 – $50) / $50 = . 50 x 100 = 50%.
Explanation:
Answer: $242,000
Explanation:
Seeing as this is the balance on the 31st of May, it can be assumed that the 60% to be collected in May (being the month following April) from April Credit Sales has already been collected so only 10% remains.
For May, we can assume that the 30% has been collected leaving only 70% still to be collected on the 31st.
Calculating therefore,
April Credit Sales Due 31st of May = 320,000 * 10%
= $32,000
May Credit Sales due 31st of May = 300,000 * 70%
= $210,000
Total on the 31st of May is therefore,
= 32,000 + 210,000
= $242,000
The budgeted accounts receivable balance on May 31 would be $242,000.
The quality circle are essential to the part of continuous improvement to process and systems because they examine products, processes or procedures with the objective of making recommendations for improvement to management.
<h3>What is a quality circle?</h3>
This refers to the small group of employees that volunteers to meet regularly to undertake work related projects such as on work quality, productivity, safety, efficiency, cost, working conditions etc.
On other word, they are team of volunteer production employees and their supervisors who meet regularly to solve quality problems.
In a continuous improvement to process and systems, these quality circle are essential because when they meets, they examine products, processes or procedures with the objective of making recommendations for improvement to management.
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Answer:
The detailed solution is attached below.
Explanation:
Answer:
9
Explanation:
Sales revenue (at $25 per case) ................................$2,000,000 $1,500,000 $2,250,000 Less: Cost of goods sold (at absorption cost of $21 per case) * ............................1,680,000 1,260,000 1,890,000 Gross margin .............................................................$ 320,000 $ 240,000 $ 360,000 Less: Selling and administrative expenses: Variable (at $ .50 per case) ............................40,000 30,000 45,000 Fixed ..............................................................37,500 37,500 37,500 Operating income ......................................................$ 242,500 $ 172,500 $ 277,500 *The absorption cost per case is $21, calculated as follows : production Planned over heading manufacture fixed Budgeted+ case per costing manufacture variable
=($400,000/80,000,)+ $16
= $5 + $16 = $21
1.b. Variable- costing income statement. a In year 4, the difference in reported operating income will be $50,000, calculated as follows: Change in inventory (in units) ×Predetermined fixed .