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iogann1982 [59]
3 years ago
11

Suppose Iron Handles manufactures cast iron skillets. One model is a​ 10-inch skillet that sells for $ 30. Iron Handles projects

sales of 625 ​10-inch skillets per month. The production costs are $ 8 per skillet for direct​ materials, $ 2 per skillet for direct​ labor, and $ 5 per skillet for manufacturing overhead. Iron Handles has 45 ​10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to 30​% of the next​ month's sales. Selling and administrative expenses for this product line are $ 1 comma 400 per month. Iron Handles is budgeted to produce 768 skillets in July. Compute the total amount budgeted for product costs for July.
Business
1 answer:
tatuchka [14]3 years ago
3 0

Answer:

The total amount budgeted for product costs for July is $10,875.

Explanation:

Consider the following formula to calculate the total amount budgeted.

Budgeted gross profit = Budgeted sales-budgeted cost of goods sold

= 725*$30 - $10,875 = $10,875.

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The Marx Company issued $98,000 of 8% bonds on April 1 of the current year at face value. The bonds pay interest semiannually on
Fed [463]

Answer:

$4,800

Explanation:

Interest Expense of the bond is calculated by multiplying Face value and Coupon rate. Any discount or premium is amortized over the life of the bond and added or deducted from the interest payment in order to record the interest expense.

As per given data

Face value of Bond = $80,000

Coupon Rate = 8%

Interest Expense = Face value x Coupon rate

As on July 1 interest of only 3 months has been accrued, so we will record the interest expense of 3 months only.  

On July 1

Interest Expense = $80,000 x 8% x 3/12 = $1,600

6 month period Expense will be recorded.

On December 31

Interest Expense = $80,000 x 8% x 6/12 = $3,200

Total Expense = $1,600 + $3,200 = $4,800

8 0
3 years ago
If you have a credit card with 12.99% APR that compounds daily, what is the effective
gregori [183]

Answer: 13.87%

Explanation:

Effective interest rate is calculated by the formula:

=  (1 + APR / Number of compounding periods)) ^ Number of compounding periods - 1

Number of compounding periods = 365 days in a year

= (1 + 0.1299/365) ³⁶⁵ - 1

= 0.138688

= 13.87%

3 0
3 years ago
A firm cuts its dividend payout ratio. As a result, you know that the firm's ________. earnings growth rate will fall stock pric
hjlf

When the firm cuts its dividend ratio, the earnings retention ratio will increase.

<u> Explanation: </u>

The retention ratio is the extent of profit held back in the business as held income. It is something contrary to the payout proportion, which gauges the level of benefit delivered out to investors as profits.

The maintenance proportion is additionally called the plowback proportion. Held benefit is the benefit stayed within the instead of paid out to investors as a profit. Held benefit is broadly viewed as the most significant long haul wellspring of fund for a business .

5 0
3 years ago
23. Airlines that engage in price discrimination charge higher prices to business travelers because their _____ is more _____ th
MrMuchimi

Answer:

demand; inelastic

Explanation:

Price discrimination is when a seller charges different prices for the same product in different markets. Price discrimination is usually practised by monopolists. The aim of price discrimination is to eliminate consumer surplus.

A seller would usually charge a higher price to a consumer whose demand is price inelastic. This means that the quantity demanded is less sensitive to changes in price.

If the seller charges a higher price to a consumer whose demand is price elastic, the consumer would reduce the quantity demanded as a result of the rise in price and the total revenue of the seller would fall.

I hope my answer helps you

5 0
4 years ago
?an officer conducting a lineup should allow the defense attorney at the lineup to do all but which of the following?
myrzilka [38]
A<span>n officer conducting a lineup should allow the defense attorney at the lineup to do all but B. control any part of the proceedings.
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