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ozzi
3 years ago
14

1. The level of prices and the value of money

Business
1 answer:
Marizza181 [45]3 years ago
8 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

In year one, the basket costs $8.00.

In year two, the price of the same basket is $7.00.

Deflation= (7/8)-1= - 12.5%

In year one, $40.00 will buy ________ baskets, and in year two, $40.00 will buy ________ baskets.

Year 1= 40/8= 5 baskets

Year 2= 40/7= 5.71 baskets

The value of money rises.

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During 2015, LeBron Corporation accepts the following notes receivable.a. On April 1, LeBron provides services to a customer on
kolezko [41]

Answer:

The journal entries are as follows:

(a) On April 1, 2015

Notes receivable  A/c          Dr.  $7,000

To Service revenue                                    $7,000

(To record provide services to customer on account)

(b) On June 1, 2015

Notes receivable  A/c          Dr.  $11,000

To Cash                                                    $11,000

(To record company lends to one of the vendors)

(c) On November 1, 2015

Notes receivable  A/c          Dr.  $6,000

To Accounts Receivables                       $6,000

(To record accepts payment for prior services)

6 0
3 years ago
Suppose Cook Plus manufactures cast iron skillets. One model is a​ 10-inch skillet that sells for $ 22. Cook Plus projects sales
amid [387]

Answer:

Production budget = 835

Explanation:

<em>T</em><em>he production budgeted for a particular period is the expected units to be produced after adjusting the sales budget figures for opening and closing inventories.  </em>

Production = Sales budget + closing inventory - opening inventory

Inventory at the end of July = 40%×650= 260

Opening inventory = 75

Sales budget = 650

Production budget = 650+ 260  - 75= 835

Production budget = 835

3 0
3 years ago
On December 1, 2020, Swifty Corporation purchased a tract of land as a factory site for $770000. The old building on the propert
seropon [69]

Answer:

the amount reported as land is $858,400

Explanation:

The computation of the amount reported as land is shown below;

= Purchase cost + raze old building cost + ownership cost + title guarantee cost - Proceeds from sale of salvaged materials

= $770,000 + $69,000 + $9,900 + $16,400 - $6,900

= $858,400

hence, the amount reported as land is $858,400

The same would be considered

6 0
2 years ago
An apparel manufacturing plant has estimated the variable cost to be $2.40 per unit. Fixed costs are $2,000,000 per year. Forty
marta [7]

Answer:

BEP units:          42,017

BEP dollars: 2,100,850

unit cost at 100,000 units produced: 22.40 dollars

operating profit :    1,656,000

Explanation:

Sales \: Revenue - Variable \: Cost = Contribution \: Margin

50 - 2.4 = 47.6 contirbution margin per unit

\frac{Fixed\:Cost}{Contribution \:Margin} = Break\: Even\: Point_{units}

2,000,000/47.6 = 42.016,80 BEP units

BEP units x sales price = BEP dollars

42,017 x 50 = 2,100,850

(B)

fixed cosy/ units produced = fixed cost per unit

2,000,000/ 100,000 = 20 fixed cost per unit

fixed cost + variable cost = total cost

20 + 2.40 = 22.4

(C)

There are 40% units sold at the preferred customer at cost

So we sale at gain only 60% of the units:

100,000 units x 60% x 50       =  3,000,000

100,000 units x 40% x 22.40  =     896,000

Total revenue                              3,896,000

Cost: 100,000 x 22.40          <u>     (2,240,000)  </u>

operating profit                            1,656,000

4 0
3 years ago
Can a broker arbitrarily penalize an independent contractor based on varying factors, such as the sales agent's difficulty in cl
Irina18 [472]

Answer:

No

Explanation:

An independent contractor is a business person or entity who works for an employer based on an agreed-upon contract which affords him the flexibility of choosing how and when he accomplishes a task. The employer has the right to control the results of his work but has little or no say on how and when the job is done.

An independent contractor is not bound to work specific hours dictated by an employer. When the sale's agent finds it difficult to close a deal or is unable to produce paperwork in a timely fashion, he cannot just be arbitrarily penalized by the broker. The broker could terminate the contract if the agent does not meet up to his requirements.

8 0
2 years ago
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