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ruslelena [56]
2 years ago
14

Your aunt is thinking about opening a hardware store. She estimates that it would cost $300,000 per year to rent the location an

d buy the stock. In addition, she would have to quit her $45,000 per year job as an accountant. What is the opportunity cost of something
Business
1 answer:
oksano4ka [1.4K]2 years ago
7 0

Answer:

Opportunity cost = $345,000

Explanation:

Given:

Total investment = $300,000

Give up job revenue = $45,000

Opportunity cost = ?

Computation of opportunity cost:

Opportunity cost refers to the price we are willing to lose to get something.

Opportunity cost = Total investment + Give up job revenue

Opportunity cost = $300,000 + $45,000

Opportunity cost = $345,000

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Outdoor Expo provides guided fishing tours. The company charges $300 per person but offers a 20% discount to parties of four or
Simora [160]

Answer:

May 2  No entry is required as the transaction is yet to happen

May 7  DR Accounts Receivable                                       $1,200

                 CR Tour Revenue                                                           $1,200

May 9  DR No entry required

May 15  DR Sales Allowance (1,200 * 30%)                        $360

                    CR Accounts Receivable                                             $360

May 20  DR Cash                                                             $789.60

              DR Sales Discount                                              $50.40

                    CR Accounts Receivable                                            $840

Working

Accounts Receivable = 1,200 - 360 sales allowance = $840

Sales Discount = 840 * 6% discount = $50.40

Cash = 840 - 50.40 = $789.60

b. Net Revenues

=  Revenue - Sales allowance - Sales discount

= 1,200 - 360 - 50.40

= $789,60

c. Partial Income Statement

Tour Revenues                                                         $1,200

Less:

Sales Allowance                                   $360

Sales Discount                                   <u> $50.60 </u>    

                                                                             <u>  ($410.60)</u>

Net Tour Revenue                                                 $789.40

8 0
3 years ago
The number of subscribers to five leading e-mail services is shown in the accompanying table:
kirill [66]
Empirical probability = (Number of outcomes in a given category) / (Total number of all outcomes)   
6 0
3 years ago
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the u
stich3 [128]

Answer:

$30.39 per machine hour

Explanation:

Giannitti corporation has an estimated machine hours of 36,000

The estimated variable manufacturing overhead is $3.01 per machine hour

The estimated total fixed manufacturing overhead is $1,058,040

The first step is to calculate the the predetermined overhead rate

= 36,000 + 3.01 + 1,058,040

= $1,094,043.01

Therefore the predetermined overhead rate can be calculated as follows

= 1,094,043.01/36,000

= $30.39 per machine hour

Hence the predetermined overhead rate for the recently completed year is closest to $30.39 per machine hour

5 0
3 years ago
According to a sustainability survey commissioned by the consulting firm KPMG, approximately ________ of large and mid-sized com
GREYUIT [131]

Answer: 62 percent

Explanation: A sustainability survey commissioned by the consulting firm KPMG, stated that approximately 62 percent of large and mid-sized companies worldwide have an active sustainability program in place, and that another 11 percent are developing one. Sustainable development is aimed at replacing economic development, thus encouraging better environmental

and sustainability performance.

7 0
3 years ago
Read 2 more answers
Last year, Courtney Company reported sales of $640,000, a contribution margin of $160,000, and an operating loss of ($40,000). B
Elanso [62]

Answer:

 Break-even sales         =  $800,000.

Explanation:

<em>The beak-even point is the units of products to be sold or number of customers to be served to enable a business to cover exactly its total cost from the revenue. At the break-even point, the business makes no profit or no loss because the contribution from sales exactly equals the total fixed cost</em>

<em>Break-even in sales revenue = Total fixed cost/Contribution margin</em>

<em>Contribution margin (%) = Contribution/ sales ×  100</em>

                                        = 160,000/640,000

                                        = 0.25 ×  100

                                        = 25%

<em>Fixed cost =   Contribution -   operating income</em>

                                    = 160,000- -( 40,000)

                             = 160,000 + 40,000

                             = 200,000

<em>Break-even point sales = 200,000/25%</em>

                                       =  $800,000.

3 0
3 years ago
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