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MaRussiya [10]
3 years ago
12

The Mountain Top Shoppe has sales of $512,000, average accounts receivable of $31,400 and average accounts payable of $24,800. T

he cost of goods sold is equivalent to 71 percent of sales. How long does it take The Mountain Top Shoppe to pay its suppliers?
Business
1 answer:
nevsk [136]3 years ago
8 0

Answer:

How long does it take The Mountain Top Shoppe to pay its suppliers?

25 days

Explanation:

Sales   $512,000  

COGS     71%

COGS   $363,520  

Av Acc Receiv   31.400  

Av Acc Payable   24.800  

Days   365  

DPO - Days Payables Outstanding  ==> ($24,800/$363,520)*365= 25 Days  

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__________ modules deal with issues such as setting objectives, employee performance management, and performance-based compensat
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3 years ago
Prepare traditional and contribution margin income statements (Learning Objective 6) The Willowick Ice Cream Shoppe sold 8,700 s
Leto [7]

Answer:

Sales Revenues 26100

COGS              <u>    5655</u>

gross profit        20445

rent expense                 1600

depreciation expense   200

operating expense <u>2600</u>

net income                16045

   

Sales Revenues          26100

Variable Cost               <u>     6305 </u>

Contribution margin        19795

rent expense                     1600

depreciation expense       200

fixed operating expense<u>   1950  </u>

net income                   16045

Explanation:

traditional:

COGS

$12 tub / 30 ice cream cones = $0.40

+ 0.25 ice cream cones

total per unit 0.65

8,700 x 0.65 = 5655

Gross profit: sales revenue less COGS

then, we subtract the rent expense, depreicaiton expense and operatign expenses to get net income.

contribution the variable cost will be subtracted from the sales revenues

that will include the 75% of the operating expenses

The difference between sales revenue and variable cost is called contribution margin.

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What amount is a reasonable tip for an airport skycap?
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3 years ago
Read 2 more answers
An increase in the price of cheese crackers from $2.25 to $2.45 per box causes suppliers of cheese crackers to increase their qu
Juliette [100K]

Answer:

The correct answer is C) "elastic, and the price elasticity of supply is 1.74"

Explanation:

Formula:

( (Qf - Qi) ÷ ((Qf + Qi) ÷ 2) )             ÷             ( (Pf - Pi) ÷ ((Pf + Pi) ÷ 2) )

       Quantity                                                                 Price

Lets remplace:

Qi = Initial Quantity = 125 boxes

Qf = Final Quantity = 145 boxes

Pi = Initial Price = $2.25

Pf=  Final Price = $2.45

Quantity                                                                   Price

(145 - 125) ÷ ((145 + 125) ÷ 2)      ÷     (2.45-2.25) ÷ ((2.45+2.25)÷ 2)

= (20) ÷ (270÷ 2)                                           = (0.2) ÷  (4.7 ÷ 2)

= 20 ÷  135                                                    = 0.2 ÷ 2.35

= 0.148                                                          = 0.085

Finally:  we divide the result of quantity into the result of price

= 0.148 ÷ 0.085

= 1.74

To classify into elastic or inelastic:

When Pes > 1, then supply is price elastic

When Pes < 1, then supply is price inelastic

When Pes = 0, supply is perfectly inelastic

Answer:  <em>Elastic, and the price elasticity of supply is 1.74</em>

4 0
2 years ago
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