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tatuchka [14]
2 years ago
7

During its most recent fiscal year, Raphael Enterprises sold 380,000 electric screwdrivers at a price of $20.40 each. Fixed cost

s amounted to $1,444,000 and pretax income was $1,824,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year in question?a. $4,484,000.b. $3,268,000.c. $5,928,000.d. $3,752,000.e. $3,040,000.
Business
1 answer:
Gwar [14]2 years ago
3 0

Answer:

Option (a) is correct.

Explanation:

Pretax income = Contribution - Fixed cost

Contribution = Pretax income + Fixed cost

                     = $1,824,000 + $1,444,000

                     = $3,268,000

Sales - Variable Cost = Contribution

Variable Cost = Sales - Contribution

                       = (380,000 electric screwdrivers × $20.40 each) - $3,268,000

                       = $7,752,000 - $3,268,000

                       = $4,484,000

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The accounts that affect equity are revenues, common stock, expense, and dividends.

The following information should be relevant for the equity:

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In this way, the equity account is affected.

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Answer:

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In the example above, Markup artfully arranged  his products and priced to indicate product rarity in upscale neighborhood.

He did this because for customers with high economic power, presentation of a certain product will create the perception that owning that product indicates high social status. This probably held more value compared to the actual use function of the product itself.

On the other hand, he left his products in open boxes and placed haphazardly on shelves when targeting customers with lower income. He did this because among customers with lower income, presentation tend to matter less compared to the actual function of thier brand.

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Answer:

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