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Sliva [168]
3 years ago
5

You are selling a new line of T-shirts on the boardwalk. The selling price will be $25 per shirt. The labor cost is $5 per shirt

. The administrative costs of operating the company are estimated to be $60,000 annually, and the sales and marketing expenses are $20,000 a year. Additionally, the cost of materials will be $10 per shirt. What is the break-even quantity? a. 8,000 shirts b. 16,000 shirts c. 5,334 shirts d. 3,200 shirts
Business
1 answer:
Ad libitum [116K]3 years ago
8 0

Answer:

Option (a) is correct.

Explanation:

Contribution per unit:

= Selling price per unit - Variable cost

= Selling price per unit - (Material  + labor cost)

= $25 - ($10 + $5)

= $25 - $15

= $10

Fixed cost = Administrative cost + Sales and marketing expense

                 = $60,000 + $20,000

                 = $80,000

Break-even quantity:

= Fixed cost ÷ Contribution per unit

= $80,000 ÷ $10

= 8,000 shirts

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On July 31, the bookkeeping account Supplies Inventory shows a debit balance of $1,000. A physical inventory taken on that date
Tanya [424]

Answer:

$200

Explanation:

When Supplies inventory are purchased, a debit is posted to Supplies inventory and a credit to cash account or accounts payable.

As the inventories are used, debit Supplies expense and credit Supplies inventory account.

Given that $1,000 was the debit in the books and $800 per count, it means the books balance needs to be written down to the physical balance. The difference to be posted

= $1,000 - $800

= $200

This will be done by

Debit Supplies expense  $200

Credit Supplies Inventory  $200

Being entries to record inventory used in July

4 0
3 years ago
He stockholders' equity section on the December 31, 2009, balance sheet of Chemfast Corporation reported the following amounts:
Allisa [31]

Answer:

1.7900 shares

2.7300 shares

3.$22.95

4.$59

5.$6,300

6.$10.50

7.$791,000

Explanation:

The number of preferred shares=total par value of preferred shares issued/par value=$165,900/$21=7900 shares

The number of preferred shares outstanding is issued shares minus treasury stock=7900 shares-600 shares=7,300 shares

average issue price of preferred stock=(total par value+additional paid capital)/issued shares=($165,900+$15,400)/7900=$22.95

Average issue price of common stock==common stock amount/issued shares=$590,000/10000=$59

The treasury stock decreases stockholders' equity by the amount paid to repurchase the shares which is $6,300

Treasury stock cost $ per share=cost of treasury cost/number of treasury stock=$6300/600=$10.50

Total stockholders' equity in $=preferred stock+preferred stock additional paid in capital+common stock+retained earnings -treasury stock

Total stockholders' equity in $=165,900+15,400+590,000+26000-6300=$791,000

8 0
2 years ago
The US economy is a command economy.<br> A. True<br> B. False
astra-53 [7]

Answer:

hmmmm i'd say true if not then false

5 0
2 years ago
A _____ consists of senior managers representing the business and information technology organizations—to provide guidance and s
34kurt

Answer:

b. project steering team

Explanation:

Project steering team  -

It refers to the member of an organisation or company , who helps to support and guide the project , is referred to as the project steering team .

The team is important for the project success .

These are basically an advisory body of the company , in matters related to project management concerns ,  marketing strategies , company policy , new endeavors and budget .

Hence , from the given information of the question,

The correct term is project steering team .

5 0
3 years ago
Westbank Real Estate, Inc. owns 10 acres of forested land. Westbank wants the land cleared in order to build houses. Westbank em
DiKsa [7]

Answer:

Westbank Real Estate, Inc. and Hardell Lumber Co.

2. Does the electronic agreement for the sale of trees and soil fall under the statute of frauds? (YES / NO)

3. Under which category? (CONTRACTS INVOLVING LAND/ CONTRACTS THAT BY THEIR TERMS CANNOT BE PERFORMED IN LESS THAN A YEAR AFTER THE DATE OF AGREEMENT/ A PROMISE TO ANSWER FOR A DEBT OF ANOTHER/ A PROMISE MADE IN CONSIDERATION OF MARRIAGE/ CONTRACTS FOR THE SALE OF GOODS OVER $500)

4. An electronic memorandum (DOES/ DOES NOT) satisfy the writing requirements for the Statute of Frauds.

5. Land is considered to be (REAL PROPERTY/ PERSONAL PROPERTY)

6. The definition of land includes (NO/ SOME/ ALL) physical objects that are permanently attached to the property.

7. Examples of physical objects that constitute land for purposes of the statute of frauds include (BUILDINGS/ FENCES/ TREES/ SOIL/ ALL OF THESE)

8. A written or electronic memorandum evidencing a contract will suffice provided that the writing is signed by (THE PERSON WHO IS ENFORCING THE CONTRACT/ THE PERSON AGAINST WHOM THE CONTRACT IS BEING ENFORCED)

9. Who signed the emails? (WESTBANK REAL ESTATE/ HARDELL LUMBER/ BOTH PARTIES)

10. What type of signature must be on an email in order to enforce an electronic record? (A TYPED NAME/ AN OFFICIAL SIGNATURE/ A NOTARIZED SIGNATURE/ AN ENCRYPTED SIGNATURE)

11. Does the electronic memorandum have the parties' typed names? (YES/ NO)

12. Does the electronic memorandum describe the property involved?(YES/ NO)

13. Is it likely a court would find that the electronic memorandum satisfied the statute of frauds? (YES/ NO)

14. As a result, Hardell (WILL/ WILL NOT) likely be able to enforce the contract against Westbank.

Explanation:

The memoranda exchanged between Westbank Real Estate and Hardell Lumber Co provides the evidence of their oral contract. The statute of fraud covers most oral contracts, especially those involving real property or sale of land.  It is important to note that land includes all its permanent attachments.

5 0
3 years ago
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