1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tomtit [17]
3 years ago
14

The following transactions were selected from the records of Evergreen Company:

Business
1 answer:
Bezzdna [24]3 years ago
4 0

Answer:

The amount of revenue to be reported for the m/o July -31 = $8850.

Explanation:

July-12.  Account Receivable = $ 940

July-16. Account Receivable = $ 4940

July-19. Account Receivable  = $ 2970

July-23. Account Receivable =   (4940-4940)=$0 (due to cash received)

July-31. Account receivable=  (2970-2970)=$0. (due to cash received)

Sales

Sales to wally = $940

Sales to Claudio = $4940

Sales to Otto =<u> $2970</u>

Total sales = $8850.

Cost of goods sold

Cost of sales to wally = $570

Cost of sales to Claudio = $3470

Cost of sales to Otto =  <u>$1870</u>

 Total Cost of sales       $5910

Gross profit = Sales - cost of sales = 8850 - 5910 = $ 2940.

You might be interested in
It costs firm A $800 to produce five radios and it costs firm B $500 to produce five batteries. If Firm A merges with firm B, it
Zigmanuir [339]

Answer:  b. ​Economies of Scope

Explanation:

Economies of Scope refers to a situation where a company is able to reduce the cost of producing two or more goods by combining their production thereby leading to savings in the production process.

Economies of Scope in effect points out that there are some goods that when produced in tandem with another, lead to a cost reduction which means that its savings is <em>based on variety</em>.

Goods that usually achieve Economies of Scope are goods that are compliments, produced by similar methods or use similar inputs for production.

Firm A merging with Firm B produced the 5 radios and batteries cheaper so the new company is experiencing Economies of Scope.

5 0
3 years ago
Xminus−Industries manufactures 3minus−D printers. For each​ unit, $ 3 comma 200$3,200 of direct material is used and there is $
madreJ [45]

Answer:

Profit= $106,682.52

Explanation:

Giving the following information:

Unitary Variable costs:

Direct material= 3,200

Direct labor= $2,300 ($15 per hour)= 153.33 hours

Manufacturing overhead is applied at $18 per direct labor hour.

Units sold= 42

Selling price= $10,800

Profit= Total sales - total variable cost

Profit= 42*10,800 - (3,200 + 2300 + 18*153.33)*42= $106,682.52

3 0
3 years ago
A kitchen fire at a favorite restaurant caused the owner to temporarily close. This is an example of which of the following risk
Ipatiy [6.2K]

Answer:

Uncertainty-based risk

Explanation:

The restaurant was temporarily closed because of fire, which is an uncertainty.

3 0
2 years ago
This question examines the market for mangos. You will use a demand function to construct the demand schedule, calculate the pri
raketka [301]

Answer:

Task 1. Use the table below to find the quantity of mangos demanded at each price.

For a price of $1, the quantity demanded of mangos is:

Q = 150 - 25 ($1)

Q = 125

For $2:

Q = 150 - 25 ($2)

Q = 150 - 50

Q = 100

For $3

Q = 150 - 25 ($3)

Q = 150 - 75

Q = 75

For $4

Q = 150 - 25 ($4)

Q = 150 - 100

Q = 50

For $5

Q = 150 - 25 ($5)

Q = 150 - 125

Q = 25

Task 2. Calculate the price elasticity of demand when the price falls from $5 to $4.

The formula is

Price Elasiticy of Demand (PED) = ((Q2 - Q1) / (Q2 + Q1) / 2 ) / ((P2 - P1) / ((P2 + P1) / 2)

Now, we plug the amounts into the formula

PED = ((50 - 25) / (50 + 25) / 2) / ((4 - 5) / (4 + 5) / 2)

PED = 0.1666 / -0.0556

PED = -3

We take the absolute value, 3, which is a PED higher than 1, meaning that demand is elastic: the quantity demanded in this case increased more than the price.

Task 3. When the price of a mango falls from $5 to $4, does total revenue fall or rise? How do you know?

Revenue = Price x Quantity

Under the first scenario, revenue = $5 x 25 = $125

Under the second scenario, revenue = $4 x 50 = $200

So revenue increased by $75.

Task 4. When the price of a mango falls from $3 to $2, does total revenue fall or rise?

First scenario = $3 x 75 = $225

Second scenario = $2 x 100 = 200

So revenue actually falls by $25.

4 0
2 years ago
A firm maximizes its profitability when it: creates products similar to the products of its competitors. strips all the value ou
sineoko [7]

A firm maximizes its profitability when it<u> "configures its internal operations to support the position selected by it on the efficiency frontier".</u>


In economics, profit maximization is the short run or long run process by which a firm may decide the value, information, and yield levels that prompt the best benefit.

The general guideline is that the firm maximizes profit by delivering that amount of yield where negligible income breaks even with peripheral expense. The profit maximization issue can likewise be drawn closer from the information side.

6 0
3 years ago
Other questions:
  • The balance in the prepaid insurance account before adjustment at the end of the year is $27,000. Journalize the adjusting entry
    14·1 answer
  • Which situation best illustrates the role of households in the circular flow of
    8·2 answers
  • What are the two types of merchant wholesalers?
    9·1 answer
  • North Company has completed all of its operating budgets. The sales budget for the year shows 50,160 units and total sales of $2
    5·1 answer
  • Zappos employees are "driven" to participate in charitable activities and feel that giving back to the community is something th
    15·1 answer
  • If the first four units of a good consumed have marginal utilities of 8, 4, 2, and 1, respectively, this trend is an indication
    10·1 answer
  • Coastal Shores Inc. (CSI) was completely destroyed by Hurricane Fred on August 5, 2021. At January 1, CSI reported an inventory
    9·1 answer
  • If you were applying for an upper-level management job at Pizza Hut in the Public Relations and Social Media department, working
    10·1 answer
  • Actor Sissy Spacek once objected to a series of movie scenes that included her smoking a certain brand of cigarettes. She was pr
    15·1 answer
  • all plans must cover at least the standard part d coverage or its actual equivalent which of the following
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!