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tester [92]
3 years ago
15

Nolan Dry Cleaners has determined the following about its​ costs: Total variable expenses are $40,000​, total fixed expenses are

$30,000, and the sales revenue needed to break even is $40,000. Determine the​ company's current​ 1) sales revenue and​ 2) operating income. ​(​Hint:​ First, find the contribution margin​ ratio; then prepare the contribution margin income​ statement.)
Business
1 answer:
blondinia [14]3 years ago
3 0

Answer:

Operating income= 40,000

Explanation:

Giving the following information:

Total variable expenses are $40,000​, total fixed expenses are $30,000, and the sales revenue needed to break even is $40,000.

Sales= operating income + fixed costs + variable costs

Sales= 40,000 + 30,000 + 40,000= 110,000

Operating income:

Sales= 110,000

Variable costs= 40,000

Gross profit= 70,000

Fixed costs= 30,000

Operating income= 40,000

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<span>After 4 years of college, it would be better to not go to college. Since his high school job was paying $25,000 a year ($100,000 in four years), and going to college cost $20,500 ($82,000 in four years), after those four years he would still have over $18,000 to spend at his leisure, or $4,500 every year. This leftover money can be used to find a place for rent for at least $375.</span>
6 0
3 years ago
Read 2 more answers
Delta Diamonds uses a periodic inventory sistem. The company had five one- carat diamonds available for sale this year: one was
blsea [12.9K]

Answer:

$2300

Explanation:

The FIFO method is one in which inventory purchased first is sold first. Given that the company had five one- carat diamonds available for sale this year: one was purchased on June 1 for $500, two were purchased on July 9 for $550, and two were purchased on September 23 for $600 each. On December 24, the one was purchased on June 1 for $500 was sold

Ending balance

= 2 * $550 + 2 * $600

= $1100 + $1200

= $2300

4 0
3 years ago
Which of the following is true of first movers? a. The first mover cannot be able to establish brand loyalty. b. Being a first m
boyakko [2]

Answer:

The first mover that creates a revolutionary product is in a monopoly position.

Explanation:

First Mover is the big initiator of a new product, which gains a competitive 'first mover advantage' for being the pioneer of the idea in the market.

  • The first mover can be able to establish brand loyalty
  • Being a first mover doesn't guarantee instant success
  • The first mover can create switching costs for its customers to deter rivals.

The only apt statement is : The first mover that creates a revolutionary product is in a monopoly position. The first mover enters the market when there is no major supplier & the customer's demand is unmet. If it enables to leverage the potential huge unsatisfied market in a revolutionary way, it can be able to create unparalleled brand loyalty. And this can make it secure monopoly position in market

7 0
3 years ago
Ben attended a workshop hosted by SCORE, a SBA organization that counsels small-business owners on developing a good vision stat
Zielflug [23.3K]

Answer:

what the company wants to become, and its long-term direction and strategic intent

Explanation:

Vision statement is a long term road map of the direction a business needs to take in order to achieve its set goals and objectives. It usually undergoes little revision.

However the short term operational processes are constantly reviewed to make the business better align with long term goals as stated in the vision statement.

In this scenario where the vision statement of small businesses are being formulated the speakers will discuss what the company wants to become, and its long-term direction and strategic intent

8 0
3 years ago
A 30-year zero coupon bond with a face value of $5,000 is currently selling for $1,156.88 and has a market rate of interest of 5
daser333 [38]

Answer:

Price will increase by $277.58

Explanation:

Market rate of Interest of a zero coupon bond can be determined by following formula

Market Rate of Interest = [ ( F / P )^(1/30) ] - 1

4.25% = [ ( $5000 / P )^(1/30) ] - 1

0.0425 + 1 = ( $5000 / P )^1/30

( 1.0425 )^30 = (( $5000 / P )^1/30)^30

3.4856 = $5000 / P

P = $5,000 / 3.4856

P = $1,434.46

Now Calculate the change in Price

Change in price = $1,434.46 - $1,156.88 = $277.58

Price will increase by $277.58

5 0
3 years ago
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