Answer:
b. $2,720,000
Explanation:
The contribution margin is what is left after subtracting the variable cost from the sales.
From there, the company pays their fixed cost and the rest is net income.
In this case you have a company desiring to get 720,000 net income after paying their 2,000,000 fixed cost
So we come up with with formula:
Replacing the know values, we get the unknow value. Like it was a solve for X question:
Answer:
A decrease in labor force participation rate
Explanation:
The workers which are discouraged can opt out of the labor market since there is no incentive for them work anymore. The workers choosing to go out of the labor market will decrease the overall labor force participation rate. The unemployment rate can also be affected but the main effect would be on labor force participation rate
Answer:
The amount of revenue that will be reported on the income statement for the month ended July 31 is equal to $5,300.
Explanation:
The applicable accounting concept here is accrual concept.
Accrual concept states that revenue is recognized when it is earned and expenses are also recognized when they are incured no matter when cash is received or paid.
Based on the accrual concept, only transactions 1 and 4 will be used in calculating the amount of revenue for July as follows:
July revenue = Cash received for services performed during July + Billing of customers for services performed on account in July = $1,200 + $4,100 = $5,300
Therefore, the amount of revenue that will be reported on the income statement for the month ended July 31 is equal to $5,300.
Answer:
structurally unemployed.
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
1. Cyclical unemployment rate (CU).
2. Frictional unemployment rate (FU).
3. Structural unemployment rate (SU).
Structural unemployment can be defined as an involuntary unemployment that arises as a result of the incompatibility between a worker's skills set and requisite skills an employer seeks from the workers or due to technological changes.
This ultimately implies that, it describes a situation where an individual isn't able to secure a job as a result of insufficient number of jobs matching their qualifications, thus limiting their opportunities.
In this scenario, Monica Smith was unemployed because the steel company, where she worked, closed and moved overseas to a foreign country. Other steel companies have also closed. Her skills are not transferable to another industry and she is unable to get a job.
Hence, she would be classified as structurally unemployed.
