Answer: Option B and E
Explanation: Use of diagrams and charts do not simplify the complex relationships as they do not help in calculation they are for presentation purposes only.
Diagrams and charts are different from pictures as they are used to show quantitative data in a picture manner through graphs etc.
The information for which the graph remains limited as per the research made. So, graphs cannot increase the level of information it can only show it in a more mannerly way.
They run the risk of diluting the firm's ownership. Hope I helped! :)
With sales of 9,000 units, contribution margin per unit of $32 and fixed costs total of $120,000, Lance's profit is $168,000.
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What is contribution margin?</u></h3>
- A gross or per-unit basis might be used to express the contribution margin.
- It indicates the additional revenue made for each product or unit sold after the variable element of the business's costs have been subtracted.
- The selling price per unit less the variable cost per unit is the contribution margin.
- The metric, also known as dollar contribution per unit, shows how a specific product affects the company's overall earnings.
Contribution margin offers a means of demonstrating the potential for profit of a specific product being offered by a business and displays the percentage of sales that goes toward paying the business' fixed costs. Profit is the amount that remains after fixed expenses have been paid.
Number of units sold = 9,000.
Contribution margin per unit = $32.
Expenses = $32 × 9000 = $2,88,000.
Profit = $2,88,000 - $120,000 = $1,68,000.
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Answer:
All options are applicable
Explanation:
Upon the exchange of the asset, the cost of the old asset needs to be removed from the asset account by crediting the old asset account with $90,000
On the other hand, the market value of the new asset needs to be debited to new asset account i.e$50,000 and also the accumulated depreciation must debited to accumulated depreciation account.
All in all, the difference between the credit and the debit entries is balancing credit as shown below
Dr New asset $50,000
Dr Accumulated depreciation $70,000
Cr Old asset $90,000
Cr gain on asset exchange(bal figure) $30,000