Answer:
b. $22.75
Explanation:
We know that
Contribution margin per unit= Sales price per unit - variable cost per unit
Since the selling price is $35
And, the contribution margin is 35%
Therefore, the contribution margin per unit would be
= $35 × 35 per cent
= $12.25
Now add these figures in the formula above.
Hence, the value would be equal to
= $35 - $12.25
= $22.75
The inventory and labor costs are included in the variable cost
Answer:
The adjustment balance will be of 18,000
Explanation:
We should build Accounts Receivables T-account to get the adjusted balance:
Accounts Receivables
<u>DEBIT CREDIT</u>
15,000 UNADJUSTMENT
<u> 3,000 ADJUSTMENT</u>
18,000 ADJUSTED BALANCE**
**As the adjustment is in the same side as the unadjusted balance, we add it. So we end up with 15,000 + 3,000 = 18,000
Answer:
Palmona Co Journal entries
1.
Jan-01
Dr Petty cash 150
Cr Cash 150
2.
Jan-08
Dr Postage expense 35
Dr Merchandise inventory 14
Dr Delivery expense 16
Dr Miscellaneous expenses 24
Cr Cash 89
3. Jan-08
Dr Postage expense 35
Dr Merchandise inventory 14
Dr Delivery expense 16
Dr Miscellaneous expenses 24
Cash 89
4.
Jan-08
Dr Petty cash 300
(450-150)
Cr Cash 300
Explanation:
1. To establish petty cash fund
2.To record reimbursement
3.To record reimbursement
4. To record increase in fund balance from 150 to 450
The lack of opportunity ti be one's boss
