Answer: C.$221.86
Explanation:
Contribution Margin is the difference between the sales price and the variable costs.
Best case scenario of Sales would mean it is the higher amount.
Best case scenario of costs would mean the lower amount.
Best case Sales
= 349 * ( 1 + 3%)
= $359.47
Best Case Variable Cost
= 139 * ( 1 - 1%)
= $137.61
Best Case Contribution Margin
= Best case Sales - Best Case Variable Cost
= 359.47 - 137.61
= $221.86
Answer:
Gain= $14,500
Explanation:
<u>First, we need to calculate the book value of the equipment:</u>
Book value= purchase price - accumulated depreciation
Book value= 95,000 - 78,500
Book value= $16,500
<u>If the selling price is higher than the book value, the company made a profit by selling the equipment.</u>
Gain/loss= selling price - book value
Gain/loss= 31,000 - 16,500
Gain= $14,500
Answer:
1. The failure to file a personal tax return in a timely manner is usually considered an act discreditable to the profession.
2. Advertising is permitted as long as it is not false or misleading.
Explanation:
It is considered one of the ethics of the AICPA for its members to always file their personal tax return timely. In a case where this is not done, it is considered a discreditable act to their profession. Furthermore, according to the AICPA, as long as what is being advertised portrays true intentions of the organization and does not mislead people, advertising is permitted.
Answer:
$109,250
Explanation:
FIFO assumes that the units to arrive first, will be sold first. Therefore, inventory valuation is based on later or recent prices.
Step 1 : units in ending inventory
Ending Inventory = units available for sale - units sold
= 9,500
Step 2 : inventory value
Ending Inventory = 9,500 x $11.50 = $109,250
