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3 years ago

A manufacturer of tiling grout has supplied the following data:

Business

1 answer:

Romashka [77]3 years ago

5 0

Answer:

Explanation:

Calculation for the company's contribution margin ratio

First step is to find the Contribution margin using this formula

Contribution margin = Sales - Variable expenses

Let plug in the formula

Contribution margin = $1,910,000-$1,319,000

Contribution margin = $591,000

Second step is to calculate for the Contribution margin ratio using this formula

Contribution margin ratio= Contribution margin ÷ Sales

Let plug in the formula

Contribution margin ratio = $591,000 ÷ $1,910,000

Contribution margin ratio = 0.309×100

Contribution margin ratio=30.9%

Calculation for Total Variable expenses

Variable manufacturing expense $956,000

Variable selling and administrative expense $363,000

Total $1,319,000

Therefore the Contribution margin ratio will be 30.9%

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Merchandise costing $2,000 is sold for $3,000 on terms 2/30, n/60. If the customer pays within the discount period, what amount

madam [21]

Answer:

The amount that will be reported on the income statement as net sales is $2,940 and as gross profit is $940.

Explanation:

Given:

Merchandise costing $2,000 is sold for $3,000 on terms 2/30, n/60.

If the customer pays within the discount period.

Now, to find the amount reported on the income statement as net sales and as gross profit.

Cost of merchandise = $2,000.

As, merchandise sold for $3,000.

So, to get the net sales we deduct the discount:

Merchandise on terms 2/30, n/60.

$3,000-2\%\ of\ 3000\\\\=3,000-\frac{2}{100}\times 3000\\\\=3,000-0.02\times 3000\\\\=3,000-60\\\\=\$2,940.$

Thus, the net sales is $2,940.

Now, to get the gross profit we subtract cost of merchandise from net sales:

$\$2,940-\$2,000\\\\=\$940.$

Hence, gross profit is $940.

Therefore, the amount that will be reported on the income statement as net sales is $2,940 and as gross profit is $940.

7 0

3 years ago

What is the balance between supply and demand called ?

n200080 [17]

The balance between supply and demand is known as the market equilibrium.

The supply and demand are determined through the price mechanism in a free market. Such as if the goods or services are bought more frequently then their prices will go up and vice versa.

This means that the price mechanism helps to determine what goods are to be produced. In the case where the demand for good increase will result in price go up and will ultimately result in producers supplying more of those goods.

This system of price helps to scale the point where competing demands may be weighed by the consumer or producer requirements.

However, the movement towards the price equilibrium and the resulting balance between the supply and demand is known as the market equilibrium.

Learn more on supply and demand here: brainly.com/question/4804206

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2 years ago

Read 2 more answers

The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $9,500; acco

Pavlova-9 [17]

Answer:

$196,000

Explanation:

The question is to prepare the balance sheet of Bowler Corporation as at the end of 2021.

Balance Sheet is generally divided into Assets side (Non-Current and current) Liabilities (non-current and current) and the Stockholders equity. A good balance sheet should be as follows Asset= Liabilities + Equity

Bowler Corporation Balance Sheet as at 2021

Particulars Amount($) Amount($)

Non-Current Assets

Equipment 210,000

Less: Depreciation (78,000) 132,000

Current Assets

Cash 9,500

Accounts receivable 19,500

Inventory 35,000

Total Current Assets 64,000

Total Assets 196,000

Liabilities and Equity

Current Liabilities

Accounts Payable 75,000

Salaries payable 31,000

Total liabilities 106,000

Equity

Common Stock 69,000

Retained earnings 21,000

Total stockholders' equity 90,000

Total Liabilities and Equity 196,000

4 0

3 years ago

A lender estimates that the closing costs on a $165,000 home loan will be $6,187.50. The actual closing costs were 3.5% of the l

Ivanshal [37]

Home loan amount = $165,000

Estimated closing costs = $6,187.50

% of estimated closing cost = ?

$165,000 * x% = $6,187.50
x% = $6,187.50 ÷ $165,000
x% = 0.0375
x = 0.0375 x 100 = 3.75

Therefore, estimated closing costs = 3.75% of loan amount = 3.75% of $165,000

Actual closing costs = 3.5% of loan amount = 3.5% of $165,000 = $5775

Difference in estimated and actual closing cost percent = 3.75% - 3.5% = 0.25%

The closing costs were lower than the estimate by 0.25%

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3 years ago

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Give an example of one good or service produced in the United States using the command model. Justify your example using content

Ymorist [56]

What poster are you referring to? There’s nothing there but the question

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2 years ago