Where was the 2003 mercury sable wagon manufactured?

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credi

borishaifa [10]

Answer:

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.

Explanation:

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.

6 0

3 years ago

Tiago makes three models of camera lens. Its product mix and contribution margin per unit follow: Percentage of Unit sales Contr

Anna11 [10]

Answer:

A. $36.55

B. 5116 units

C. 7114 units

Explanation:

Requirement 1: Weighted average contribution margin per unit

Lens A = $38 x 25% = $9.5

Lens B = $30 x 40% = $12

Lens C = $43 x 35% = $15.05

Total Contribution margin per unit = $36.55

Requirement 2: Breakeven if fixed cost is $187,000

Break even point (units) = Fixed cost / Contribution per unit

Break even point (units) = 187,000/36.55

Break even point (units) = 5116 units

Lens A = 5116 x 25% = 1279 units

Lens B = 5116 x 40% = 2046 units

Lens C = 5116 x 35% = 1791 units

Requirement 3: How many units to be sold to generate $73,000 profit

Required units = Fixed cost - required profit / contribution per unit

Required units = ($187,000-$73,000)/$36.55

Required units = 7114 units

Lens A = 7114 x 25% = 1779 units

Lens B = 7114 x 40% = 2846 units

Lens C = 7114 x 35% = 2489 units

6 0

3 years ago

Which of the following is TRUE of brokers? a. Brokers bring buyers and sellers together and assist in negotiation. b. Brokers re

yuradex [85]

Answer:

a. Brokers bring buyers and sellers together and assist in negotiation.

Explanation:

Brokers are a kind of agents as, they help the buyers find the sellers, and the sellers to find the buyers.

They help in price negotiations and settling the deals. They are hired for individual deals, and not for a specified period.

They do not get any payments in the form of salary, but they get payment in the form of commission, based on the price of settlement of the deal.

3 0

3 years ago

The Phillips curve exhibits A. the situation where cyclical unemployment becomes zero. B. the relationship between the unemploym

Sav [38]

Answer:

B) The relationship between the unemployment and the inflation rates

Explanation:

6 0

3 years ago

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Assume that you are saving up for a trip around the world when you graduate in two years. If you can earn 6% on your investments

AURORKA [14]

Answer:

$12,015 approx.

Explanation:

To calculate present value of a future amount, the future amount is discounted at the rate of interest for the period of investment, which reveals present value as on today. The technique is referred to as discounting technique.

Suppose P denote the amount invested today, which when matured after period of two years yields $13500. Following formula is used for calculating the money invested:

$A =\ P (1\ +\ \frac{R}{100}) ^{n}$

wherein, A = Amount

P = Principal

R = Rate of interest

n = number of years

$13500 =\ P (1\ +\ \frac{6}{100}) ^{2}$

13,500 = 1.1236 P

⇒ P = 12,015 Approx.

Thus, $12015 is required to be deposited today so as to yield $13,500 after 2 years compounded at 6% per annum rate of interest.

5 0

3 years ago

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