A costumer-oriented organization places customer satisfaction at the core of each of its business decisions, it focuses on helping customers to meet their long-term needs and wants. An organization that uses this is Chron
Answer:
Products Selling price Unit variable cost
$ $
Junior 50 15
Adult 75 25
Expert <u>110 </u> <u> 60</u>
Total <u> 235 </u> <u> 100</u>
The sales price per composite unit = $235
The contribution margin per composite unit
= Composite selling price - Composite unit variable cost
= $235 - $100
= $135
Break-even point in units
= <u>Fixed cost</u>
Contribution per unit
= <u>$114,750</u>
$135
= 850 units
Break-even point in dollars
= Break-even point in units x Composite selling price
= 850 units x $235
= $199,750
Income Statement
$
Total contribution ($135 x 850 units) 114,750
Less: Fixed cost <u>114,750</u>
Net profit <u> 0</u>
Explanation:
Sales price per composite unit is the aggregate of all the selling prices.
Contribution margin per composite unit equals composite selling price minus composite unit variable cost.
Break-even point in units is fixed cost divided per composite contribution margin per unit.
Break-even point in dollars equal break-even point in units multiplied by selling price.
Income statement is prepared by deducting the total fixed cost from the total contribution.
Answer:
Please see explanation below
Explanation:
1. Paid $5,000 of accrued taxes at time plant site was acquired. - Debit accrued taxes account $5000, credit cash expenses account $5000.
2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit. - Debit freight and insurance in transit $200, credit cash expenses $200.
3. Paid $850 sales taxes on new delivery truck. - Debit sales tax $850, credit expenses $850.
4. Paid $17,500 for parking lots and driveways on new plant site. - Debit land improvements $17,500, credit cash expenses $17,500.
5. Paid $250 to have company name and advertising slogan painted on new delivery truck. - Debit advertisement $250, credit cash expenses $250.
6. Paid $8,000 for installation of new factory machinery. - debit installation costs (under plants and machinery $8000.
7. Paid $900 for one-year accident insurance policy on new delivery truck. - Debit insurance $900, credit cash expenses $900.
8. Paid $75 motor vehicle license fee on the new truck. - Debit licensing fees $75, credit cash expenses $75.
Answer:
Loss on retirement of debt = $1,030,000
Explanation:
the company paid $7,070,000 in order to retire the bonds, and hte journal entry was:
Dr Bonds payable 7,000,000
Dr Loss on retirement of debt 1,030,000
Cr Cash 7,070,000
Cr Discount on bonds payable 960,000
Loss on retirement of debt = cash paid - carrying value = $7,070,000 - $6,040,000 = $1,030,000
Answer:
d
Explanation:
The complete question is mentioned in attachment. According to 2nd line and 2nd last line, option d is the ocrrect answer.
