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lara [203]
3 years ago
10

​finn and glenda want to form and do business as hobby crafts corporation. a corporation is

Business
1 answer:
saul85 [17]3 years ago
3 0
<span>Finn and Glenda want to form and do business as Hobby Crafts Corporation. A corporation is a legal entity that is recognized by state laws. A corporation is a company or group of people that are allowed legally to work together as one entity. They are granted operation by the state the live in and are recognized by whichever states they have licenses in. </span>
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Carmel Company has a frequent buyer program for its customers, where the customers can attain an "elite" level based on the numb
lisov135 [29]

Answer:

a.Titanium = $2,890,500

Platinum = $5,185,000

b. Platinum is more profitable

Explanation:

The computation of given question is shown below:

For Titanium

Total gross margin = 5,000 × $1,590

= $7,950,000

Salaries and bonus of Customer representative = ($68,000 × 5,000 ÷ 200) + (1% × $7,950,000)

= $1,700,000 + $79,500

= $1,779,500

b.

Promotion cost = $2,850,000 × 80%

= $2,280,000

Excess of gross margin over customer costs = Total gross margin - Salaries and bonus of Customer representative - Promotion cost

= $7,950,000 - $1,779,500 - $2,280,000

= $2,890,500

For Platinum

Total Gross margin = 20,000 × $ 325

= $6,500,000

Salaries and bonus of Customer representative = ($68,000 × 20,000 ÷ 2,000) + (1% × $6,500,000 )

= $680,000 + $65,000

= $745,000

Cost of promotion = $2,850,000 × 20%

= $570,000

Since, 80% is allocated for promotion expenses of titanium so we assume 20% for Platinum

Excess of gross margin over customer costs = Total Gross margin - Salaries and bonus of Customer representative - Cost of promotion

= $6,500,000  - $745,000 - $570,000

= $5,185,000

B. Since, Platinum is higher than Titanium. So, Platinum is more profitable.  

4 0
3 years ago
Suppose the mean gpa of all students graduating from a particular university in 1975 was 2.30. the registrar plans to look at re
coldgirl [10]
My notation would be myx = M(XC+%) and the mean is Summat.
4 0
3 years ago
Kenner company produces two products: SR200 and TX500. Budged sales for four months are as follows;
NARA [144]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Budgeted production TX500

May 20,000

June 32,000

July 39,000

August 46,000

TX500 should have 40% of next months sales in ending Inventory. On May 1, there were 9,000 units of TX500.

Production for June:

Sales= 32,000 units

Ending inventory= (39,000*0.40)= 15,600

Beginning inventory= (32,000*0.4)= 12,800 (-)

Total= 34,800 units

8 0
3 years ago
When the perpetual inventory method is being used, the accountant debits __________ __________ and credits Accounts Payable (or
777dan777 [17]

Answer:

merchandise inventory

Merchandise inventory

Merchandise inventory    

Merchandise inventory

Merchandise inventory    

Merchandise inventory

Explanation:

When the perpetual inventory method is being used, the accountant debits  <u>merchandise inventory </u>and credits Accounts Payable (or Cash) when goods are purchased and debits Cost of Goods Sold and credits <u>merchandise inventor</u>y when gods are sold, along with the proper sales entry.

When the perpetual inventory method is being used, the accountant debits  <u>merchandise inventory </u>and credits Accounts Payable (or Cash) when goods are purchased and debits Cost of Goods Sold and credits <u>merchandise inventor</u>y when gods are sold, along with the proper sales entry.

When the perpetual inventory method is being used, the accountant debits  <u>merchandise inventory </u>and credits Accounts Payable (or Cash) when goods are purchased and debits Cost of Goods Sold and credits <u>merchandise inventor</u>y when gods are sold, along with the proper sales entry.

The cost of each sale transaction ensures that the merchandise inventory account under a perpetual inventory system reflects the updated cost of merchandise available for sale.

4 0
3 years ago
When a celebrity receives extra compensation for winning an award, this compensation is referred to as a
kogti [31]
A paycheck for the work of course


5 0
3 years ago
Read 2 more answers
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