This savings plan is offered by an employer and employees contribute money to it each pay period

An income statement for Tommy's Bookstore for the first quarter of the year is presented below: Tommy's Bookstore Income Stateme

Semmy [17]

Answer:

Contribution margin = $200,000

Explanation:

As per the data given in the question,

Contribution margin = Sales - Variable expense

Number of books = $880,000 ÷ $55

=16,000

Gross margin = 340,000

Variable selling expenses = 16,000 × $6

=$96,000

Variable administrative expense = $880,000 × 5%

=$44,000

Total = $96,000 + $44,000

= $140,000

Contribution margin = $340,000 - $140,000

= $200,000

7 0

2 years ago

The forward-looking process of coordinating assets to optimize the delivery of goods, services and information from supplier to

Mama L [17]

Answer: Supply chain planning.

Explanation:

Supply chain planning is a comprehensive plan a production company has in place that ensures, the smooth and effective running of operations involved in the supply chain. Supply chain planning involves planning for factors within and outside the company which includes: raw materials and resources gathering, production and distribution of products.

5 0

3 years ago

Shmenson Company uses the periodic inventory system. Sales for 2020 were $470,000 while operating expenses were $175,000. Beginn

jeka94

Answer:

The net income for 2020 was $90,000

Explanation:

Shmenson Company

Income Statement for the year ended 2020

Sales $470,000

Less Cost of Sales

Beginning Inventories $70,000

Add Net purchases $180,000

Add Freight In $15,000

Less Ending Inventories ($60,000) ($205,000)

Gross Profit $265,000

Less Expenses

Operating expenses ($175,000)

Net Income $90,000

Conclusion

Thus, the net income for 2020 was $90,000.

8 0

2 years ago

Jasmine started a new business in the current year. She incurred $18,000 of start-up costs. How much of the start-up costs can b

liq [111]

Answer:

$5,000

Explanation:

According to the Internal Revenue Service, the amount of deduction for startup costs would be limited to $5,000 if the startup costs are $50,000 or less

However, if the start-up costs were more than $50,000, the deduction would be decreased by the dollar amount.

Since in the given scenario, the $18,000 is the startup cost so she is eligible for the deduction of $5,000

5 0

3 years ago

The ________ is where quantity demanded and quantity supplied are equal at a certain price.

nikklg [1K]

The answer to this question is Equilibrium price
The equilibrium price most commonly indicate the price level where both sellers and buyers feel satisfied.
In this level, the buyers will get the maximum value from the products while the sellers still maintaining a sustainable level of profit to continue their business.

6 0

3 years ago