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sukhopar [10]
3 years ago
13

5b. MousePad Computer Company, in addition to its retail sales, conducts night classes in computer technology. MousePad has prov

ided you the following information: Number of students 120 Revenue per student $450 Student-related variable costs $100 per student Salary for three instructors $1,800 each Administrative costs $30 per student Maintenance on building $15,000 per year Required: Construct a contribution margin format income statement.
Business
1 answer:
monitta3 years ago
8 0

Answer:

Net Income = $18,000

Explanation:

              MousePad Computer Company

       Contribution Margin Income statement

Revenue (120 students × $450)                                      = $54,000

Less: Variable expenses:

Student-related costs (120 students × $100) = $12,000

Administrative costs (120 students × $30)     = $ 3,600

Total variable expenses                                               <u>    =($15,600)</u>

Contribution Margin                                                          $38,400

Less: Fixed cost

Instructors salary (3 × $1,800)       = $ 5,400

Maintenance on building              = $15,000

<u>Total fixed cost                                                                 =$(20,400)</u>

Net Operating Income                                                    =$18,000

Note:

Students cost is a variable expense, because if we decrease the student's number, the revenue and expenses will decrease proportionately. Moreover, the company is getting profit from the students.

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Jamie is single. In 2021, she reported $104,000 of taxable income, including a long-term capital gain of $5,400. What is her gro
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For a $104,000 of taxable income, including a long-term capital gain of $5,400, her gross tax liability  is mathematically given as

T=$17479

<h3>What is her gross tax liability?</h3>

Generally, the $95000 will be charged with an ordinary tax rate

Capital gain of $5000  will be charged by 12% rate.

Therefore, Tax on $95000

Tx = 14605.50+ 24%*(95000 - 85526)

Tx= $16879.26

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2 years ago
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Which level of management sets general​ policies, formulates​ strategies, approves all significant​ decisions, and represents th
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Answer: Top managers.

Explanation: Top managers examples are board of directors, president, vice-president, and CEO. These managers are duly responsible for controlling and overseeing the entire organization. They set and develop goals, strategic plans, company policies, and make decisions on the direction of the business. These top managers are responsible for controlling and overseeing the entire organization with the aim of achieving organization goals.

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3 years ago
Ferkil Corporation manufacturers a single product that has a selling price of $20.00 per unit. Fixed expenses total $63,000 per
pshichka [43]

Answer:

Break-even point= 11,500 units

Explanation:

Giving the following information:

Selling price= $20.00 per unit.

Fixed expenses= $63,000 per year.

Break-even point= 9,000 units to break even.

Desired profit= $17,500

First, we need to calculate the unitary variable cost:

Break-even point= fixed costs/ contribution margin

9,000= 63,000 / (20 - unitary variable cost)

9,000*20 - 9,000x= 63,000

180,000 - 63,000= 9,000x

117,000/9,000=x

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Now, we can calculate the number of units:

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Break-even point= (63,000 + 17,500) / (20 - 13)

Break-even point= 11,500 units

3 0
3 years ago
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