Answer: Please refer to Explanation
Explanation:
The terms will be listed in bold at the end of the statement. If you require further clarification please do comment.
a. The costs deducted from the contribution margin to determine the responsibility margin. TRACEABLE FIXED COSTS.
b. Cost to produce plus a predetermined markup. COST-PLUS TRANSFER PRICE
c. Fixed costs that are readily controllable by the manager. NONE
d. A subtotal in a responsibility income statement, equal to responsibility margin plus committed fixed costs. PERFORMANCE MARGIN.
e. The subtotal in a responsibility income statement that is most useful in evaluating the short-run effect of various marketing strategies on the income of the business. CONTRIBUTION MARGIN.
f. The subtotal in a responsibility income statement that comes closest to indicating the change in income from operations that would result from closing a particular part of the business. RESPONSIBILITY MARGIN.
g. The amount used in recording products or services supplied by one business unit to another. TRANSFER PRICE.
Answer:
Requirement: Prepare the entry to record the sales transactions and related taxes.
1. Date Account Titles and Explanation Debit Credit
Apr. 10 Cash $30,975
Sales Revenue $29,500
Sales Tax Payable $1,475
(To record Cash sales along with sales tax)
2. Date Account Titles and Explanation Debit Credit
Apr. 15 Cash $18,530
Sales Revenue $17,000
Sales Tax Payable $1,530
(To record Cash sales along with sales tax)
<u></u>
<u>Workings</u>
- Total Sales along with sales tax = $18,530, Sales Tax Rate = 9%. Sales Tax Amount = 18530*(0.09/1.09) = $1,530
- Sales Without Sales Tax = $18,530 - $1,530 = $17,000
Answer:
Samuel plays the role of a securities broker.
Explanation:
A securities broker has the function of being the link between the investor and the global financial markets. The broker helps guide the client to make the best investment decisions in the market.
In addition to advising its clients, the securities broker is responsible for buying and selling the shares of its client. To be a securities broker, you must have higher studies in administration, economics, or finance, also have completed the preparation to work as a broker.
<em>I hope this information can help you.</em>
Answer:
$490,000.
Explanation:
To find out sales of Opal Company we will use below equation,
Sales = Variable cost + Fixed cost + Target profit
variable cost margin will be (1 - contribution margin)
= 0.7 (1 - 0.3)
we will consider sales as x,
x = 0.70x + $49,000 + 0.20x
x = 0.90x + $49,000
x - 0.90x = $49,000
x = $49,000 / 0.10
x = $490,000.
Sales = $490,000.
