1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
photoshop1234 [79]
3 years ago
7

Blossom Machine Works produces soft serve ice cream freezers. The freezers sell for $17,000, and variable costs total $12,800 pe

r unit. Blossom incurs $13,490,000 in fixed costs during the year. The company’s tax rate is 30%. How many freezers must Blossom sell to generate net income of $7,528,000?
Business
1 answer:
sdas [7]3 years ago
8 0

Answer:

5005 freezers

Explanation:

Sales 17,000

Variable Cost per unit 12,800

Contribution per unit 4,200

Fixed Cost 1,3490,000

Desired Profit 7,528,000

Sale for Desired profit = ( Desired profit + Fixed Cost ) / contribution per unit = ( 7528000 + 13490000 ) / 42001 = 5005 units

It is assumed that the price is exclusive of tax. So tax is not being dealt in this solution.

You might be interested in
Windsor Locomotive Corporation purchased for $550,000 a 40% interest in Lopez Railways, Inc. This investment enables Windsor Loc
Vanyuwa [196]

Answer:

Journal Entries

Dr. Investment in Lopez Railways Inc.  $600,000  

Cr. Cash                                     $600,000

Dr. Investment in Lopez Railways Inc                   $59,600

Cr. Income of Investment in Lopez Railways Inc $59,600

Dr. Cash                                                 $10,800

Cr. Investment in Lopez Railways Inc  $10,800

Explanation:

As Windsor Locomotive Corporation has purchased 40% interest in Lopez Railway Inc.Lopez Inc. is classified as the associate company of Windsor Corp.

Share in net Income = $149,000 x 40% = $59,600

Share In Dividend = $27,000 x 40% = $10,800

4 0
3 years ago
Which of the following is the correct term to
marissa [1.9K]

Answer:procedures

Explanation:

5 0
3 years ago
Read 2 more answers
Carey is a waiter at a restaurant that pays a small hourly amount plus tips. Customers are not required to tip the waiter. Carey
Nina [5.8K]

Answer:

Yes, she is required to include her tips in gross income.

Explanation:

Yes, Carey is required to include her tips in gross income. She is required to include both her small hourly amount and her tips, declaring both as a total sum amount. Even though the customer has no obligation to pay any tip of any kind to Carey, any tip she receives will count as compensation for services, as the tips are payments for her service to the customer.  

4 0
3 years ago
Accounting Professionals Inc. experienced the following events in 2014, its first year of operation:1. Performed services for $2
Andrews [41]

Answer:

Explanation:

The accounting equation is presented below:

Particulars       Assets   =               Liabilities   =             Stockholders equity  

                        Cash     Supplies          Account payable              Retained earnings

1. Service

Performed       $20,000                                                                    $20,000

2. Supplies

Purchased                       $4,000             $4,000

3. Supplies

Used                              -$3,000                                                         -$3,000

Total               $20,000  $1,000              $4,000                               $17,000

6 0
3 years ago
Lynn Bernerd, Inc., manufactures and sells reclining furniture. The company currently operates in the United States but wishes t
xeze [42]

Answer:

E) Trading company

Explanation:

In international trade, trading companies are basically wholesalers that work at an international level. They usually purchase products from different businesses and then resell them to local retail businesses or sometimes final consumers (less common). Trading companies generally enter a exclusive distribution agreement with the manufacturer per region or country that they operate in.

3 0
3 years ago
Other questions:
  • Free points for all here u go
    14·2 answers
  • Explain how incentives and the limited role of government function in a free enterprise system.
    5·1 answer
  • On May 1, 2021, Concord Corporation declared and issued a 10% common stock dividend. Prior to this dividend, Concord had 207000
    5·1 answer
  • What uses a systematic approach in an attempt to improve business effectiveness and efficiency continuously? static process dyna
    7·1 answer
  • A bond with a face value of $1,000 has 10 years until maturity, carries a coupon rate of 8.5%, and sells for $1,150. Interest is
    9·1 answer
  • The adoption of specific ground rules that specify acceptable behaviors by project team members can improve working relationship
    15·1 answer
  • 40 points Write a short note discussing how social factors affect economic and political systems
    14·1 answer
  • If product Y is an inferior good, a decrease in consumer incomes will rev:
    14·1 answer
  • Isaac Inc. began operations in January 2021. For some property sales, Isaac recognizes income in the period of sale for financia
    6·1 answer
  • ____________ reflects the understanding that the cost of repairing an unexpected breakdown is usually much greater than preventa
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!