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PilotLPTM [1.2K]
3 years ago
8

Perfect Clean, Inc. provides housekeeping services. The following financial data have been provided.

Business
1 answer:
ioda3 years ago
7 0

Answer:

A) $38,650; 48.31%

Explanation:

The computation of the contribution margin and the contribution margin ratio is shown below:

Contribution margin = Service Revenue - Cleaning Supplies Used - wages expense

= $80,000 - $22,000 - $19,350

= $38,650

The variable cost is Cleaning Supplies Used + wages expense

And, the contribution margin ratio equals to

= (Contribution margin ÷ sales) × 100

= ($38,650 ÷ $80,000)  × 100

= 48.31%

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The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance
Anastasy [175]

Answer:

Balance sheet:

Accounts Payable -Liability

Property, Plant. and Equipment -Asset

Long-Term Debt-Liability

Retained Earnings-equity account

Prepaid Expense -Asset

Common Stock -equity account

Accounts Receivable-Asset

Income statement:

Cost of Goods Sold-expense

Research and Development-expense

Explanation:

Property, plant and equipment , accounts receivable and prepaid expenses would appear on the asset side of the balance sheet.

Long-term debt and accounts payable are both liabilities since they are obligations owed to third parties while retained earnings and common stock are both equity account

Lastly,cost of goods sold and research and development cost are expenses in the income statement

3 0
3 years ago
Compare and Contrast Material and Substantive Law
topjm [15]

Answer:

Terms. Procedural law is the set of rules by which courts in the United States decide the outcomes of all criminal, civil, and administrative cases. Substantive law describes how people are expected to behave according to accepted social norms.

Hope this helped you compare & contrast

Explanation:

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3 years ago
Which of the following typically happens as prices for a good or service rises?a. suppliers leave the marketb. consumers seek mo
Luba_88 [7]

Answer:

The correct answer is option D.

Explanation:

As the price of product increases the consumers will demand less because they now have to pay more than earlier.

The supply however is directly related to price level and will increase with the increase in price. The producers will produce more in order to enjoy higher revenue and profit.

This would encourage the other potential firms to enter the market, to earn higher profits.So more suppliers will enter the market.

However, this would lead to increase in supply of output. The excess supply will cause the price to fall eliminating higher profits.

5 0
3 years ago
What courses should high school students take if they are interested in radiology?
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A radiologist is a doctor who specializes in diagnosing and treating disease and injury through the use of imaging techniques such as:

X-rays

computed tomography (CT)

magnetic resonance imaging (MRI)

nuclear medicine

positron emission tomography (PET)

fusion imaging, and

ultrasound

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6 0
3 years ago
A service is any intangible offering that involves a deed is called
12345 [234]

Answer:

Service

Explanation:

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