Answer:
Contribution margin= $15
Explanation:
Giving the following information:
Sales May in units:
Budget:
Tulips= 4,950
Geraniums= 3,300
Actual:
Tulips= 4,420
Geraniums= 4,080
Contribution margin:
Budget:
Tulips= $11
Geraniums= $21
Actual:
Tulips= $12
Geraniums= $19
We need to calculate the budgeted contribution margin per composite unit.
First, we need to calculate the percentage of sales for each plant.
Total units= 8250 units
Tulips= 4950/8250= 0.6
Geranius= 3300/8250= 0.4
Contribution margin= (0.6*11)+(0.4*21)= $15
Answer:
Copyright is a form of protection grounded in the U.S. Constitution and granted by law for original works of authorship fixed in a tangible medium of expression. Copyright covers both published and unpublished works.
Explanation:
i looked it up
Utility costs that relate to current year's operations but are not paid until the following year require:
- a debit to Utilities Expense
- a credit to Utilities Payable
<h3>What happens when expenses are not paid?</h3>
Expenses are meant to be paid within the accounting period that they occur and if this does not happen, then they are to be treated as current liabilities in the Balance sheet.
This means that the Utilities Expense account will be debited as is the norm but the account that will then be credited is the Utilities Payable account which is a current liability.
Options for this question:
(Select all that apply.)
- a debit to Prepaid Expense - Utilities
- a debit to Utilities Expense
- no journal entry
- a credit to Utilities Payable
- a credit to Cash
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Answer:
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Explanation:
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An investor purchased 10 go bonds at a discount of 2 points per bond. the bonds mature in 10 years. after holding the bonds for 5 years, they were sold at par. for tax purposes, the investor has a $100 gain.
The cost per bond is $980. The accretion amount each year is $20. $20 ÷ 10 years = $2 per year. $2 per year × 5 years = $10 per bond accretion, making the adjusted cost basis $990 per bond.
When the bonds are sold at par ($1,000), there is a profit of $10 per bond × 10 bonds, which equals a $100 gain.
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