Answer: $595
Explanation:
First find the probability of a $2,000 loss.
= 1 - other probabilities
= 1 - 0.6 - 0.05 - 0.13
= 0.22
Expected cost to the publishing company is a weighted average of the costs:
= (0 * 0.60) + (500 * 0.05) + (1,000 * 0.13) + (2,000 * 0.22)
= $595
In particular, Article 2 of the Uniform Commercial Code creates warranties of merchantability, fitness for a particular purpose, and non-infringement in contracts for the sale of goods. [1] These implied warranties significantly expand the seller's exposure for potential liabilities to the buyer.
Answer: Telephone calls
Explanation: To communicate to senior citizens telephone will be the most effective way as other sources like social media are not used by senior citizens in general, majority of users of social sites are youth and teens. Other sources like emails and text messages may not result in full information takeout. Therefore,other than face to face communication, the best electronic medium is telephone.
Answer:
According to "AS 7 - Construction Contracts",Gross amounts receivable / payable from / by customers should be recognized as contract asset / liability in the balance sheet.
For the first job, construction work in progress is greater than the bills raised. Hence there exists contract asset.
Contract asset = Cost incurred - Billing done
= $20,000 - $14,000
= $6,000
For the second job, construction in progress is less than the bills raised. Hence there exists contract liability.
Contract liability = Bills raised - Cost incurred
= $5,000 - $3,000
= $2,000
Hence, Contract asset = $6000
, Contract Liability = $2000
Answer and Explanation:
The computation is shown below:
a. The unit sale price is
But before that the variable cost ratio is
= 100% - 40%
= 60%
Now the unit sale price i
= $24 × 100% ÷ 60%
= $40
Now the contribution margin per unit is
= $40 - $24
= $16
b. the sales volume in units is
= Fixed cost + operating income ÷ contribution margin per unit
= ($660,000 + $300,000) ÷ $16
= 60,000 units
c. Sales volume in dollars is
= Fixed cost + operating income ÷ contribution margin ratio
= ($660,000 + $300,000) ÷ 40%
= $2,400,000
