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irinina [24]
2 years ago
14

7. You are going to open a business making custom cabinets. You can sell each cabinet for $80. It takes a cabinetmaker approxima

tely 45 minutes to make one cabinet. Each cabinetmaker works an 8-hour day earning $18 per hour. Each cabinet uses $25 in raw materials. You usually produce cabinets 20 days a month and can employ two cabinetmakers. You estimate that your fixed costs are $5,000 per month. a. What is your contribution margin
Business
1 answer:
Shkiper50 [21]2 years ago
5 0

Answer:

Contribution Margin is 51.875%

Explanation:

Contribution Margin = Contribution/Selling Price × 100

<u>Contribution</u>

Contribution = Selling Price/ unit - Variable Costs/ Unit

Selling Price                                                     $80.00

<em>Less Variable Costs</em>

Raw Materials                                                   ($25.00)

Direct Labour (45mins/60mins×$18)               ($13.50)

Contribution                                                      ($41.50)

<u>Contribution Margin</u>

$41.50/$80.00×100=51.875%

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Collins, Inc. issued a nontaxable stock dividend of one share for each share owned. Melissa, a shareholder of Collins, had a tot
DiKsa [7]

Answer:

$5,000

Explanation:

Based on the information given we were told that had a total basis in her 500 shares of stock of the amount of $5,000 which means that The total basis of Melissa's 1,000 shares of stock after the dividend is $5,000 which is her total basis in her 500 shares of stock.

7 0
3 years ago
A reduction in the level of unemployment would have which effect with respect to the nation's production possibilities curve?
GREYUIT [131]

Answer:

B. It would not shift the curve; it would be represented by moving from a point inside the curve toward the curve.

Explanation:

Here the falling in unemployment represents that there is a movement with respect to the resources that are fully employed.

In this the unemployment means that it could be occured inner side of the PPF but if there is an increase, so the point of the production would be moved inner of the PPF to the PPF

Therefore the option B is correct

6 0
2 years ago
You will need $228,790 in 28 years to supplement your retirement funds. if you can earn 8% interest, you must save $________ eac
kodGreya [7K]
You will need $228,790 in 28 years to supplement your retirement funds. If you can earn 8% interest, you must save $2,400 each year. ✅
3 0
3 years ago
Read 2 more answers
The income statement of Cullumber Co. for the month of July shows net income of $2,200 based on Service Revenue $6,100, Salaries
saw5 [17]

Answer:

Revenue                                                                      $6,800

Expenses:

  • Salaries and Wages Expense ($2,700)
  • Supplies Expense ($1,050)
  • Depreciation expense ($250)
  • Insurance expense ($600)
  • Utilities Expense ($400)                                   <u>($5,000)</u>

Net income                                                                  $1,800

1) you must add insurance expense

2) you must decrease supplies expense = $1,200 - $150 = $1,050

3) you must add depreciation expense

4) you must increase salaries and wages expense = $2,300 + $400 = $2,700

5) you must increase revenue = $6,100 + $700 = $6,800

3 0
3 years ago
Jonathan manages a department of 10 people. Once he got to know each of the individual employees, he realized it would be best f
dlinn [17]

Answer: Leader-member exchange

Explanation:

Leader member exchange is the situation where the leader of a group or facility gets to introduce himself to a group; old or new, for business, instructions as regards their dealings and other things hey be doing.

Jonathan applied the leader member exchange when he wanted to know and present his offer to them.

6 0
2 years ago
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