Accounting profit equals economic profit if __________ equals _________

Feeney Furniture prepared the following sales budget: Month Cash Sales Credit Sales March $19,000 $11,000 April $40,000 $11,0

marusya05 [52]

Answer:

total cash collections in June = $101050

so correct option is A. $101,050

Explanation:

given data

month cash sales credit sale

march $19,000 $11,000

April $40,000 $11,000

May $43,000 $35,000

June $59,000 $50,000

to find out

total cash collections in June at Feeney Furniture

solution

we find here total cash collections in June that is express as

total cash collections in June = cash sale in June + ( credit sale in June × 62% ) + ( credit sale in May × 30%) + ( credit sale in April × 5%) .............1

put here value we get

total cash collections in June = $59000 + ( $50000 × 62% ) + ( $35000 × 30%) + ( $11000 × 5%)

total cash collections in June = $101050

so correct option is A. $101,050

8 0

3 years ago

Read 2 more answers

Firm a is a new producer in the market for good x, which is characterized by linear demand and supply curves. initially, to at

Sladkaya [172]

I believe the information above is best supported by; the fact that producer surplus will increase if the price rises from $ 8 per unit to $10. This is due to the fact that there is a shortage in the market therefore demand will increase, this results to customers wanting to buy at a higher price than the initial cost, to satisfy their demand and need

7 0

3 years ago

Straight-Line Depreciation Irons Delivery Inc. purchased a new delivery truck for $42,000 on January 1, 2019. The truck is expec

Ket [755]

Answer:

Annual depreciation= $7,996

Explanation:

Giving the following information:

Purchase price= $42,000

Useful life= 5 years

Salvage value= $2,020

<u>To calculate the annual depreciation under the straight-line method, we need to use the following formula:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (42,000 - 2,020) / 5

Annual depreciation= $7,996

5 0

3 years ago

Penny is paid a gross wage of $2,648.00 on a monthly basis. She is single and is entitled to 2 withholding allowances. How much

Damm [24]

Answer:

The combined wage bracket tables in Exhibits 9-3 and 9-4 is missing hence I will use 2014 tax year

answer :

a) Federal income tax withheld

= 75.6 + ( 1989.60 - 944 )*15% = $232.44

b) social security

6% * 1989.6 = $119.38

c) Medicare

1.45% * 1989.6 = $28.85

Explanation:

For a single individual

Two withholding allowance = $329.20 * 2 = $658.40

Gross Pay = $2648

withholding allowance = $658.40

Subject to withholding = $2648 - $658.40 = $1989.60

a) Federal income tax withheld

= 75.6 + ( 1989.60 - 944 )*15% = $232.44

b) social security

6% * 1989.6 = $119.38

c) Medicare

1.45% * 1989.6 = $28.85

6 0

3 years ago

. The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2010, they each buy 100 heads of

EastWind [94]

Answer:

a. For 2010 =$325 For 2011 = $445

b. 136.92%

c. 38.89%

Explanation:

a. The computation of the price of each vegetable is shown below:

For year 2010:

= Cauliflower price + broccoli price + carrots price

= $200 + $75 + $50

= $325

For year 2011:

= Cauliflower price + broccoli price + carrots price

= $225 + $120 + $100

= $445

b. The computation of CPI is shown below:

= (2011 Price ÷ 2010 Price) × 100

= ($445 ÷ $325) × 100

= 136.92%

c. The inflation rate is shown below:

= (2011 per total vegetables price - 2010 per total vegetables price) ÷ 2010 per total vegetables price

= ($5.00 - $3.60) ÷ $3.60

= 38.89%

Per vegetable price = (Price of each vegetable ÷ number of each vegetable)

For 2010:

Cauliflower = ($200 ÷ 100) = $2

Broccoli = ($75 ÷ 50) = $1.5

Carrots = ($50 ÷ 500) = $0.10

The total would be $3.60

For 2011:

Cauliflower = ($225 ÷ 75) = $3

Broccoli = ($120 ÷ 80) = $1.5

Carrots = ($100 ÷ 500) = $0.50

The total would be $5.00

7 0

3 years ago

Accounting profit equals economic profit if __________ equals __________.

Accounting profit equals economic profit if equals .