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tiny-mole [99]
3 years ago
13

Bryce Co. sales are $801,000, variable costs are $465,100, and operating income is $287,000. What is the contribution margin rat

io
Business
1 answer:
KATRIN_1 [288]3 years ago
8 0

Answer:

Contribution margin ratio= 0.42

Explanation:

Giving the following information:

Bryce Co. sales are $801,000

Variable costs are $465,100

Operating income is $287,000.

<u>To calculate the contribution margin ratio, we need to use the following formula:</u>

contribution margin ratio= (sales - variable cost) / sales

contribution margin ratio= (801,000 - 465,100) / 801,000

contribution margin ratio= 0.42

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Shelby Corporation was organized in January to operate an air-conditioning sales and service business The charter issued by the
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Answer: Please refer to Explanation

Explanation:

This is how the stockholders' equity section of the balance sheet at December 31 should look like,

STOCKHOLDERS'S EQUITY

Contributed Capital

Common Stock (29000 shares x $ 1 par) $29,000

Preferred Stock (19500 shares x $ 10 par) $195,000

Paid in Capital in excess of Common Stock at par ($841000 - $29000) $812,000

Paid in Capital in excess of Preferred Stock at par (19500 shares x ($39 - $10)) $565,500

Total Contributed Capital (sum of all of the above) $1,601,500

Retained Earnings ( $59,000 - $10,000) $49,000

Total Stockholder's Equity (Retained Earnings to contributed cap) $1,650,500

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8 0
2 years ago
Business employees calculate that the expense to produce an additional cell phone is $50. Monetarily amount represents a _____
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C. Marginal Cost

Marginal cost is the <em>additional </em>cost to produce each unit of a good.

6 0
3 years ago
Phildell Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate f
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Answer:

Total deduction                               2,443.21

Explanation:

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x 6.20% Sccial Security                      513.856

x 1.45% Medicate                                120.176

x 6.20% FUTA&SUTA  (for 7,000)       434              

Income tax witheld                           1,375.17

Total deduction                               2,443.21

We will multiply his taxable wages for period by the tax rate.

We must noticew FUTA and SUTA applies fdor the first 7,000 only so we multiply by 7,000 not by 8,288

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3 years ago
A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a:
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A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a Capital Budget.

<h3>What is a Capital Budget?</h3>
  • The procedure a company uses to assess potential big projects or investments is called capital budgeting.
  • Before a project is accepted or denied, capital budgeting is necessary. Examples of such projects include the construction of a new plant or a significant investment in a third-party enterprise.
  • It is a means of locating a superior offer for the expansion of the company.
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1 year ago
On jan. 2, callie company received a $700 payment from a customer previously billed for services performed. the journal entry to
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<h3>What is Journal entry?</h3>

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A journal entry exists as a record of the business transactions in the accounting books of a business. A properly recorded journal entry consists of the correct date, amounts to be debited and credited, an explanation of the transaction, and a unique reference number. A journal entry exists as the first step in the accounting cycle.

Hence, To record On Jan 2, Callie Taylor received a $700 payment from a customer formerly billed for services performed. The journal entry to record this transaction would contain a debit to the cash account and a credit to the Accounts Receivable account.

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