What is the first step you should take in managing data for a firm?

Nicholas, Inc. has provided the following unit data for review: Simple ProductAdvanced Product Selling price$22.75$55.00 Variabl

Margarita [4]

The most profitable product for Nicholas, Inc. to manufacture based on unit data and contribution margin per unit of a scarce resource is <u>Advanced Product.</u>

<h3>What is a profitable product?</h3>

A profitable product is one whose sales revenue covers the costs of production, selling, and administrative support.

A profitable product can be determined by determining the contribution margin per unit and dividing this by the units of a scarce resource that it consumes. The result is the contribution margin per unit of the scarce resource.

Thus, the product that yields the higher contribution margin per unit of a scarce resource is preferable to the rest.

<h3>Data and Calculations:</h3>

Simple Product Advanced Product

Selling price $22.75 $55.00

Variable cost 10.00 34.50

Contribution margin per unit $12.75 $20.50

Pounds of scarce raw material per unit 35 35

Contribution margin per scare resource $0.364 $0.586

Thus, the most profitable product for Nicholas, Inc. to manufacture based on the given unit data and the contribution margin per unit of a scarce resource is the Advanced Product.

Learn more about contribution margin per unit of scarce resource at brainly.com/question/15550773

6 0

2 years ago

An entrepreneur is best described as A. someone that is hired to work in a firm B. someone who creates human capital C. someone

Alik [6]

Answer:

C. someone with the ability to combine other resources in a productive enterprise

Explanation:

An entrepreneur creates a business from scratch and makes it a success. A business begins as an idea that is transformed and developed into a successful enterprise. The entrepreneur forms the ideas and sources for means and ways of actualizing it into a successful venture.

The entrepreneur provides the factors of production required to actualize his or her idea. Entrepreneurship is one of the inputs in production. The entrepreneur put together the other factors of capital, land, and labor and forms an enterprise that produces other goods and services at a profit.

7 0

3 years ago

In tax year 2020, a married taxpayer with AGI of $300,000 had gross investment income of $6,150 (which included a long-term capi

Irina-Kira [14]

The amount of net investment income tax that the taxpayer is required to pay is $231.

<h3 />

<h3>What is net investment income tax?</h3>

Net Investment Income Tax are generally imposed by the Internal Revenue on entities' net investment income.

Net investment income tax = ($6,150 - $75) * 3.8%

Net investment income tax = $6,050 * 3.8%

Net investment income tax = $231

In conclusion, the amount of net investment income tax that the taxpayer is required to pay is $231.

Read more about income tax

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8 0

2 years ago

You are an international shrimp trader. A food producer in the Czech Republic offers to pay you 2.2 million Czech koruna today i

fredd [130]

Answer: The value of this exchange is $8,816.05.

Explanation:

The problem is dealing with a simple case of arbitrage of exchange rates: Lets assume that

k = koruna

b = baht

Step 1:

Sales Revenue = k2,200,000

(To get USD amount : $\frac{2,200,000}{25.36}=$86,750.7886$

Purchase Cost = b3,200,000

(To get USD amount : $\frac{3,200,000}{41.06}=$77,934.7297$

Step 2:

Profit = Sales Revenue - Purchase cost

= $86,750.7886 - $77,934.7297

= $8,816.0589

The value of this exchange is $8,816.05.

4 0

4 years ago

Under a contract for the sale of land, the statute of frauds a. does not apply if the purchase price for the land is less than $

Iteru [2.4K]

C) Requires the defendant to sign the agreement.

<h3>The Statute of Frauds: What Is It?</h3>

A legal principle known as the statute of frauds mandates that certain types of contracts be performed in writing. The law covers agreements involving the sale of real estate, transactions involving items valued at more than $500, and agreements lasting a year or longer.

<h3>What criteria does the Statute of Frauds have?</h3>

Three conditions must be met in order to satisfy the Statute of Frauds.

It must first specify what the contract's subject matter is.
It must also state the existence of a contract between the parties.
The particular conditions of the contract must also be stated with a reasonable degree of precision.

<h3>What kind of agreement may not be accepted under the Statute of Frauds?</h3>

Several different sorts of contracts may not be upheld by the Statute of Frauds.

A contract with a completion date of less than a year serves as an illustration.
A contract would not be taken into account for the statute if someone promised to deliver a goods to someone's house within six months but never showed up.

learn more about Statute of Frauds here

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6 0

2 years ago

What is the first step you should take in managing data for a​ firm?

What is the first step you should take in managing data for a firm?