Cannot be determined from the information given.
Answer:
Contribution margin ratio= 0.7
Explanation:
Giving the following information:
Total
Sales $168,000
Variable expenses 50,400
<u>To calculate the contribution margin ratio, we need to use the following formula:</u>
Contribution margin ratio= (sales - total variable cost) / sales
Contribution margin ratio= (168,000 - 50,400) / 168,000
Contribution margin ratio= 0.7
Answer:
a) Record transfer of cost of completed job to Finished Goods.
b) Record transfer of cost of completed job to Finished Goods.
a and b
Debit Credit
Finished goods inventory $10,500
Work-in-process inventory $10,500
c) Record the cost of goods sold.
Debit Credit
Cost of goods sold $10,500
Finished goods inventory $10,500
d) Record sale price of delivered job paid in cash.
Debit Credit
Cash $14,900
Sales $14,900
Explanation:
a and b
Cost in the Work in process is tranferred to the finished goods goods account by debiting the Finished goods account due to its debit nature and crediting the work in process account.
c
On the sales of car the cost is transferred to the cost of goods sold account to reduce the inventory of finished goods value.
d
$14,900 Cash is received against the sale of the car.
I believe it is “not having enough people in leadership roles”
Yes, if it’s aceritified information .
People will seek to keep goods to avoid the potential for rising in price