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icang [17]
3 years ago
5

You have decided to open a pet store and have engaged in a contract with Dog N' Cat Centers, Inc. You and the company have drawn

up an agreement that allows you to use the company's name and its proven method of doing business, to receive training, and to use its advertising materials. In this agreement, Dog N' Cat is the ____ and you are the ____.
Business
1 answer:
podryga [215]3 years ago
5 0

Answer:

franchisor; franchisee

Explanation:

Franchising is the system for the expanding business and distributing the goods and the services to meet the higher demand.

Franchisor is the big name and big company or business which offers small business for franchising in order to gain profits and expanding business.

Franchisee is small business owner who has purchased right to use existing business's trademarks and then uphold same standards as first business.

Hence, in the given case, Dog N' Cat is the <u>franchisor</u> and you are the <u>franchisee</u>.

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Assume PRC Corp., an equipment distributor, sells a piece of machinery with a list price of $600,000 to ACH Inc. ACH will pay $6
katen-ka-za [31]

Answer:

b. $600,000

Explanation:

The company has to record as revenue the product at the list price, then if exist a special discount on the price list, it must be record as discount applied to products in the Income Statement, separate of Revenue or Gross Sales.

The price that the company ACH pay by the product ($650,000) it's not at change on the price if not due to the payments term which is one year later, so the company ACH has to pay a financial cost because the payment will be made one year later.

6 0
3 years ago
Meili's employer distributes checks at the end of each quarter, representing an equitable portion of 5 percent of the company's
Goryan [66]

Answer:

profit sharing

Explanation:

profit-sharing plan can be regarded as retirement plan which is designed to let an employee to have a share in the profits of a firm. In this particular plan some percentage of the profit made by the company,firm can be received by the employee using the quarterly or annual earnings of the employee as the basis.

6 0
2 years ago
Succulent Juice Company manufactures and sells premium tomato juice by the gallon. Succulent just finished its first year of ope
Naddik [55]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Number of Gallons Produced 80,000

Number of Gallons Sold 70,000

Sales Price $3.00/gallon

Unit Product Cost (variable costing) $1.45/gallon

Contribution Margin $84,000

Total Fixed Manufacturing Overhead $?

Total Fixed Selling & Administrative $25,000

Variable Selling & Administrative $?Total Fixed Selling & Administrative $25,000

Variable Selling & Administrative $?

Inventory value under absorption costing $29,500

T<u>he difference between the absorption and variable costing method is that the first one includes the fixed manufacturing overhead in the product cost.</u>

Absorption= direct material + direct labor + total unitary overhead

Variable=  direct material + direct labor + unitary variable overhead

First, we will calculate all the missing information:

Sales= 3*70,000= 210,000

Total variable cost= 210,000 - 84,000= 126,000

Unitary varaible cost= 126,000/70,000= $1.8 per unit

Unitary variable selling and administrative= 1.8 - 1.45= 0.35

Unitary inventory production cost (absorption)= 29,500/10,000= $2.95

Unitary fixed manufacturing cost= 2.95 - 1.45= 1.5

Now, we can determine the income statement under absorption and variable costing method:

A<u>bsorption costing:</u>

Sales= 210,000

COGS= 70,000*2.95= (206,500)

Gross profit= 3,500

Total Fixed Selling & Administrative= (25,000)

Variable Selling & Administrative= (0.35*70,000)=

Net operating income= (46,000)

<u>Variable costing method:</u>

Sales= 210,000

Total variable cost= (126,000)

Contribution margin= 84,000

Total Fixed Selling & Administrative= (25,000)

Total fixed manufacturing overhead= (80,000*1.5)= (120,000)

Net operating income= (61,000)

4 0
3 years ago
Zack developed software that helps farmers to plow their fields in a manner that prevents erosion and maximizes the effectivenes
Reil [10]

Answer:

$60,000 or $12,000

Explanation:

1. Since Zack expects Sparky to use the developed software for a period of five years, we could assume that the revenue for the first year of the contract would be $60,000.

2. Or if we Spread out the average revenue for a period of five years from the licensing fee, 60,000 / 5 (years) would give us 12,000 dollars per year.

5 0
2 years ago
A fad is a product that is popular for an extended period of time.
Westkost [7]
This is false. a fad is a product that is popular for a SHORT amount of time .
7 0
2 years ago
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