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mr_godi [17]
3 years ago
7

During its first year of operations, Silverman Company paid $14,000 for direct materials and $19,000 for production workers' wag

es. Lease payments and utilities on the production facilities amounted to $17,000 while general, selling, and administrative expenses totaled $8,000. The company produced 5,000 units and sold 3,000 units at a price of $15.00 a unit.
1. What is the amount of gross margin for the first year?
A. $15,000
B. $24,000
C. $20,000
D. $45,000
Business
1 answer:
ella [17]3 years ago
8 0

Answer:

A. $15,000

Explanation:

Gross margin is the revenue from sales deducted by the production cost of goods sold.

The total cost to produce all 5,000 units is:

C_{5,000} = 14,000+19,000+$17,000\\C_{5,000} = 50,000

The production cost of the 3,000 units sold is:

C_{3,000}=C_{5,000}*\frac{3,000}{5,000}=50,000*\frac{3,000}{5,000} \\C_{3,000}=30,000

If each of the 3,000 units sells for $15.00, the gross margin for the first year is:

GM = (15.00*3,000) - 30,000\\GM= 15,000

The correct alternative is A. $15,000

*Note that general, selling, and administrative expenses were not included since they don't qualify as production costs.

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A customer purchases $100,000 of municipal bonds at 40% in a margin account. The customer must deposit:_______
miss Akunina [59]

Answer:

customer must deposit $8000

Explanation:

given data

purchases bonds = $100,000

margin = 40%

solution

As we know minimum maintenance requirement set by Financial Industry Regulatory Authority is the great than 7% of face amount or 20% of the market value

and margins is minimums set by exchange

so bond is purchased at 40% is

bond purchase = 40% × $100,000  = $40000

and 20% of $40,000 is = $8,000

and 7 % of $100,000 is = $7,000

so greater amount is $8,000

so customer must deposit $8000

8 0
4 years ago
There were 100 new cases of syphilis last year in a given population of 100,000 people. at that time, 500 people in this populat
Fynjy0 [20]
Found these choices:
<span>100 per 100,000
500 per 100,000
1,000 per 100,000
5,000 per 100,000
</span>
The incidence of syphilis in this population is 100 per 100,000.

This means that there are  500,000 people in the population and 500 of them are with syphilis.
3 0
3 years ago
Deflation occurs when A. there is a sustained increase in the price level. B. there is a decrease in the expected rate of inflat
Katen [24]

Answer:

D) there is a decline in the price level.

Explanation:

Inflation refers to an increase in the general price level of a country, while deflation is exactly the opposite. Deflation represents a decrease in the general price level of a country. They are both calculated the same way, only that inflation is much more "famous" and notorious since it happens very oftenly, while deflation is very rare.

But that doesn't mean that deflation is good, since it generally represents an economic decline or recession. A low inflation rate is a sign of a healthy economy because it shows that the economy is growing.

6 0
3 years ago
Read 2 more answers
Including a 6 %6% sales​ tax, an inn charges $ 144.16$144.16 per night. find the​ inn's nightly cost before tax is added.
larisa86 [58]
To find the Inn's nightly cost before tax is added you will divide the total cost of the room $144.16 by the tax rate of 6%. When you divide the tax rate you will move the decimal over and use the number 1.06 (6%). When you divide $144.16 by 1.06 the answer is $136 per night before tax. To check your work you can multiply $136 by 1.06 giving you a total cost of $144.16 after tax.
5 0
3 years ago
On November 30, the company received an invoice from the electric company for $200. The company will pay the invoice in December
harkovskaia [24]

Answer:

Utility expense Dr.                      $200

  Accounts payable Cr.                $200

(To record the entry for electric expense)

Explanation:

Given the amount of the invoice = $200

The expenses like Electricity expenses come under utility expenses so the incurred electricity expense will show that the utility expenses are debited and account payable is credited. Here the account payable is credited because the is not paid.

Thus, below is the entry as on 30th November.

Utility expense Dr.  $200

  Accounts payable Cr.    $200

(To record the entry for electric expense)

8 0
4 years ago
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