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
Vlada [557]
3 years ago
11

The normal selling price per unit of a product is $480, and its total cost per unit is $375. Using the total cost concept, calcu

late the markup per unit.
Business
1 answer:
Arisa [49]3 years ago
5 0

Answer:

The markup per unit is $105

Explanation:

The computation of the markup per unit is shown below:

Markup per unit is

= Normal selling price per unit - total cost per unit

= $480 - $375

= $105

We simply deduct the normal selling price per unit from the total cost per unit so the markup per unit could come

Hence, the markup per unit is $105 and the same is to be considered

You might be interested in
Palmona Co. establishes a $270 petty cash fund on January 1. On January 8, the fund shows $181 in cash along with receipts for t
damaskus [11]

Answer:

      Journal Entry for establishing a Petty cash fund

Date      Particulars     Debit      Credit

Jan 1      Petty cash A/c     $270  

                    To Cash A/c                  $270

            (Being Petty cash fund established)

Journal Entry for reimbursement of petty cash

Date      Particulars             Debit      Credit

Jan 8     Postage A/c                  $36  

             Transportation A/c        $13  

             Delivery Expense A/c   $15  

             Miscellaneous Exp A/c $25  

                    To Cash A/c                           $89

            (Being reimbursement of petty cash expenses

             incurred from petty cash fund)

Journal entry for Increasing the limit of Petty cash fund

Date      Particulars             Debit      Credit

Jan 8     Petty Cash A/c             $50  

                   To Cash A/c                             $50

        (Being Petty cash fund limit extended to $320 i.e., we have

          to add $50 to existing fund in order to make it $ 320.)

6 0
3 years ago
Finn Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. June 1 Purchased raw m
Gelneren [198K]

Answer:

raw materials    20000 debit

accounts payable   20000

WIP         8000 debit

factory overhead 1000 debit

raw materials   9000 credit

WIP           84000 debit

factory overhead 24000 debit

wages payables  108000 credit

factory overhead     10100  debit

cash   10100 credit

WIP   49000 debit

factory overhead   49000 credit

Finished Goods   18000 debit

WIP inventory   18000 credit

COGS   15000 debit

Finished Goods   15000 credit

Explanation:

The indirect materials and labor will be considered actual factory overhead thus debited into that account

same procedures applies to the repair and utilities paid in cash we have to posted into factory overehad

from the cost sheet we determiante 7,000 labor hours we apply the $7 overhead rate per our to get the amount of applied overhead

The finished goods will increase while the WIP inventory decrease by the ammount transferred out

The COGS is an expense which decreases our finished goods inventory as we sale them and are no longer in our possesion.

5 0
3 years ago
Quality Move Company made the following expenditures on one of its delivery trucks: Mar. 20. Replaced the transmission at a cost
AfilCa [17]

Answer and Explanation:

The Journal entry is shown below:-

March 20

Accumulated depreciation - Delivery Truck Dr, $1,890  

    To Cash $1,890

(Being the replacement of transmission and capitalizing the transmission cost is recorded)  

June 11

Delivery Truck Dr, $1,350  

      To Cash $1,350

(Being the installation of hydraulic lift and capitalization of installation expenses is recorded)  

November 30

Repairs and Maintenance Expense Dr, $55  

       To Cash $55

(Being the payment for changing the oil and air filter is recorded)

4 0
3 years ago
individuals differ in risk aversion because of: group of answer choices differences in their insurance. moral hazard. adverse se
Gwar [14]

Individuals differ in risk aversion because of differences in income or wealth.

  • Risk aversion is the propensity of people to choose outcomes with low uncertainty over those with high uncertainty, even when the average outcome of the latter is equal to or higher in monetary worth than the more definite event. This tendency is shown in both economics and finance.
  • Risk aversion is the tendency to avoid danger. A risk-averse investor is one who prioritizes money preservation over the potential for a higher-than-average return. Price volatility and investment risk are the same.
  • If someone would rather take the risk and maybe receive nothing than accept a definite payment (certainty equivalent) of less than $50 (for instance, $40), they are considered to be risk averse. If they have no preference between the wager and a specific $50 payoff, they are risk neutral.

Thus the correct answer is d.

Refer here to learn more about risk aversion: brainly.com/question/8394406

#SPJ4

5 0
1 year ago
Today, you borrowed $3,200 on a credit card that charges an interest rate of 12.9 percent, compounded monthly. How long will it
miskamm [114]

Answer:

<em>It will take me </em>= <em>30.99 years</em> to pay-off the borrowed amount paying $60.00 every month

Explanation:

SOLUTION:

Using the Formula: A = P(1+r/n){nt}

Where:

A= $60.00;

P = $3,200.00;

r = 12.9%;

n = 12

t =?

Substituting the values into the Formula =

$60 = $3,200(1 + 12.9%/12){12t}

= $60 = $3,200(1 + 12.9%/12){12t}

= $60.00 = $3,200.00 (1 + 0.129/12){12t}

= $60.00 = $3,200.00 (1 + 0.01075 ){12t}

= $60.00 = $3,200.00 (1.01075 ){12t}

= $60.00/$3,200.00 = $3,200.00 (1.01075 ){12t}/$3200.00

= 0.01875 = (1.01075)12t

= Using the law of logarithm

= logA^{N} = Nlog A

=12tlog(1.01075) = log0.01875

= 12log(1.01075)/(1.01075) = log0.01875/log(1.01075)

=  12t = log(0.01875)/log1.01075

= 12t = 1.7270/0.04644

Divide 12 by both sides

=12t/12 = 371.88774/12

t= 30.9898

<em>∴ 30.99 years</em>

<em>It will take me </em>= 30.99 years to pay-off the borrowed amount paying $60.00 every month

3 0
3 years ago
Other questions:
  • Delta diamonds uses a periodic inventory system. the company had five one-carat diamonds available for sale this year: one was p
    15·1 answer
  • Tom is the quality control manager for the company XYZ. XYZ recently received some complaints about its product A's quality and
    12·1 answer
  • Services had net income for the month of October of $ 23 comma 040. Assets as of the beginning and end of the month totaled $ 36
    12·1 answer
  • The board of directors of UT Wireless, Inc. is considering two compensation plans for the CEO of the company. The first would pa
    10·1 answer
  • he Alford Group had 220,000 shares of common stock outstanding at January 1, 2018. The following activities affected common shar
    6·1 answer
  • if shelly is selling seashells at $5.00 a piece which costs her $2.00 and all of her expenses for running her business are $300
    11·1 answer
  • Does the company need to prepare a journal entry relating to this item to adjust the book balance to the correct balance?
    12·1 answer
  • A company receives a 10%, 120-day note for $1,500. The total interest due on the maturity date is: (Use 360 days a year.)
    10·1 answer
  • Https://youtu.be/CBNtbuL0Lb0o​
    7·1 answer
  • The delivered-equipment cost for a fully equipped CNC machining system is $4.2 million. The direct cost factor is 1.52 and the i
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!