Answer:
Dr. Cash $2,200
Cr. Unearned revenue $2,200
Explanation:
As the entry fee for the the racing event is received in advance. The event is on December 15 and the entry fee is received earlier to decide the participants of the race. This receipt is not considered as the revenue income until the event held and race is over. The unearned revenue is considered as the liability and recorded in unearned revenue account as action from the tony side is due. as Tony completes action which is the racing event, the revenue will be recorded.
Answer:
C
Explanation:
The question is asking what method of communication will be used by a team having to plan for the annual sales meeting.
This can be achieved by having a conference call. A conference call will provide the necessary framework needed by the members of the committee to communicate their thoughts effectively to all other members of the group. With conference call, opinions of each member can easily be passed or related to the other group members instantly
Answer:
The correct word for the blank space is: Experimentation.
Explanation:
There are four (4) components companies must be willing to develop if they look for consistency in their operations. Those are <em>abstract reasoning, systems thinking, collaboration, </em>and <em>the ability to experiment</em>. Experimentation implies making an analysis of the market situation and coming up with a solution for the problems taking place, then, setting up a strategy to attempt covering that issue wisely based on the resources of the institution.
Answer:
A firm's normal range of operating activities is relevant range of operations.
Explanation:
Relevant range of operations can be described simply as a firm or company's expected range of activities without any extreme economic conditions. It is the range where the firm operates in normal conditions. Within this range the firm's operations run smoothly. Outside this range revenue and expenditure may fluctuate from what was expected.
Answer:
$12.45
Explanation:
Calculation to determine what the contribution margin per unit sold is closest to:
First step is to calculate the Variable cost per unit using this formula
Variable cost per unit = Direct materials per unit + Direct labor per unit + Variable manufacturing overhead per unit + Sales commissions per unit + Variable administrative expense per unit
Let plug in the formula
Variable cost per unit = $5.15 + $5.30 + $1.95 + $0.60 + $0.55
Variable cost per unit = $13.55
Now let determine the Contribution margin per unit using this formula
Contribution margin per unit = Selling price per unit - Variable cost per unit
Let plug in the formula
Contribution margin per unit = $26.00 - $13.55
Contribution margin per unit = $12.45
Therefore the contribution margin per unit sold is closest to:$12.45
