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
Marta_Voda [28]
3 years ago
10

An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement F

or Quarter Ended March 31 Sales $ 960,000 Cost of goods sold 670,000 Gross margin 290,000 Selling and administrative expenses Selling $ 108,000 Administration 120,000 228,000 Net operating income $ 62,000 On average, a book sells for $60. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed. The cost formula for selling and administrative expenses with "X" equal to the number of books sold is:
Business
1 answer:
AysviL [449]3 years ago
3 0

Answer:

Answer: The net operating income used in contribution approach the first quarter is 171600

Explanation:

Description                        Amount                                     Amount

Sales                                                                             960000

Variable expenses:  

Cost of good sold                 670000  

Variable selling                       80000

(5 per book*16000 books)      

Variable administrative           38400

(960000*4%)            

Total variables expenses                                                 788400

contribution margin                                                           171600

working note:

unit sales=960000/60 per book=16000 book

You might be interested in
Paci Restaurants accepts credit and debit cards as forms of payment. Assume Paci had $14, 000 of credit and debit card sales on
vivado [14]

Answer:

1) assuming that the credit card company's payments are immediate (1 business day)

April 30,2015, net credit and debit card sales

Dr Cash 13,580

    Cr Sales revenue 13,580

2) assuming that the credit card company's payments are immediate (1 business day)

April 30,2015, gross credit and debit card sales

Dr Cash 13,580

Dr Credit card fees 420

    Cr Sales revenue 14,000

8 0
3 years ago
Discuss reasons why communication may break down between co-workers regarding work matters, (4) Discuss how technology can be he
Fed [463]

Answer: 1) Lack of communication plan; this is a situation where the organization doesn't provide adequate training and orientation on how workers should communicate amongst each other.

2) Toxic and Stressful work environment; a toxic and stressful work environment can affect communication in a work environment. For people to communicate very well there have to be a great atmosphere for that and not that filled with hatred or so much work load.

Explanation:

Challenges in work environment is something that's inevitable sometimes, here are the following reasons why communication may break down between co-workers regarding work matters;

1) Lack of communication plan; this is a situation where the organization doesn't provide adequate training and orientation on how workers should communicate amongst each other.

2) Toxic and Stressful work environment; a toxic and stressful work environment can affect communication in a work environment. For people to communicate very well there have to be a great atmosphere for that and not that filled with hatred or so much work load.

3) Partial judgement; this could be defined as a situation where either the management staff has a bias concerning some workers over the others or the workers have some form of bias against themselves which clouds their judgement

Technology can be helpful in maintaining a healthy financial plan by helping you plan your savings and investment. Today we have many firms who came up with plans technology-wise on how individuals can save some amount of their money and get reasonable interest rate. They're other platforms where investments are been born out of through technology. The main purpose is that they help you keep a healthy financial plan both by saving and investments.

3 0
3 years ago
You own a portfolio that is 34 percent invested in Stock X, 22 percent invested in Stock Y, and 44 percent invested in Stock Z.
Sonja [21]

Answer:

13.86%

Explanation:

34% was invested into stock X with an expected return of 11%

22% was invested into stock Y with an expected return of 18%

44% was invested into stock Z with an expected return of 14%

The expected return on the portfolio can be calculated using the formula below

Expected return= Sum of ( weight of stock×return of stock)

= (0.34×11%)+(0.22×18%)+(0.44×14%)

= 3.74+3.96+6.16

= 13.86%

Hence the expected return on the portfolio is 13.86%

5 0
3 years ago
You are an accountant working for Hotel Co. Your supervisor has asked you to research what amount of revenue Hotel Co. should re
Sonja [21]

Answer:

Hotel Co. should record the gross transaction fee and not only the net amount it receives from Expedia.

Explanation:

The revenue that Hotel Co. should account for in its books includes the gross transaction fee, while the collection expense that is withheld by Expedia is recorded as an expense or cost.  This method ensures that the revenue due to the Hotel Co. is actually accounted for while the collection expense by Expedia is also separately accounted for.  This will enable comparison with another hotel that does not use Expedia for its collection, for example.

5 0
3 years ago
Transactions processing systems monitor, collect, store, and process data generated from all business events. Select one: True F
Radda [10]

Answer:

TRUE

Explanation:

For example: consider a video game store where a customer comes in to buy a product then pay for it at the checkout counter. The staff goes to take the similar product from the store room and replaces it on the shelve. When the stock runs low, new products are ordered.

All the processes above involve the collection, storing and processing of the  the product and the system that monitors those process is known as Transaction Processing System.

4 0
3 years ago
Other questions:
  • Jones of San Diego sold Long of Baton Rouge a video system with a $6,000 list price. Sale terms were 2/10, n/30 FOB San Diego. J
    9·1 answer
  • Match each situation below to two applicable reasons that require an adjustment to be made.
    15·1 answer
  • If a firm that repairs both motorcycles and cars is able to do so at a lower cost than a firm that does only one or the​ other,
    15·1 answer
  • Which of the following statement is TRUE about variable expenses?
    8·1 answer
  • Liquor stores in Tennessee lobby the state legislature, asking that wine shipments from out-of-state be made illegal. They argue
    11·1 answer
  • Lynn, the manager of a transportation company, goes through the product delivery schedule. She assigns territories to each execu
    6·1 answer
  • Firm A issued a $1,000,000 bond with a 20-year term at a discount. If the remaining amount of the discount on bonds payable is $
    12·1 answer
  • Bob and his sister Betty are co-owners of their late parents' business. Bob actively manages the business; Betty supplies capita
    15·1 answer
  • Gerritt wants to buy a car that costs $28,250. The interest rate on his loan is 5.45 percent compounded monthly and the loan is
    11·1 answer
  • Which of the following is NOT an incentive
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!