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zhuklara [117]
3 years ago
11

During its most recent fiscal year, Dover, Inc. had total sales of $3,060,000. Contribution margin amounted to $1,430,000 and pr

etax income was $295,000. What amount should have been reported as fixed costs in the company's contribution margin income statement for the year in question?
Business
1 answer:
Ahat [919]3 years ago
7 0

Answer:

$1,135,000

Explanation:

Data provided as per the question

Contribution = $1,430,000

Income = $295,000

The calculation of fixed cost is shown below:-

Income = Contribution - Fixed cost

Fixed cost = Contribution - Income

= $1,430,000 - $295,000

= $1,135,000

Therefore, for computing fixed cost we simply deduct Income from contribution.

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UkoKoshka [18]

Answer:

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Explanation:

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3 0
3 years ago
In his blog, Max Gladwell says that our world is being profoundly changed
Vesnalui [34]

Answer:

B: Increasing use of social media

Explanation:

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3 0
3 years ago
Ecstasy Pharmaceuticals faces fixed costs of $1 million with manufacturing its new drug. The company sells the drug in bottles o
Korvikt [17]

Answer:

The cost of producing one bottle is $10 .

Explanation:

The fixed costs of making the drug = $1 million

The selling price of the 50 pills bottles = $10

Total number of bottles sold at breakeven =200000

Total revenue from the sale of bottle = $10 × 200000

Total revenue from the sale of bottle = $2000000

Since at breakeven point the total revenue is equal to total cost. So, total cost of producing the 200000 bottles is $2000000.

Thus, the cost of producing one bottle = $2000000 / 200000 = $10

5 0
3 years ago
Knowledge Check 01 On January 1, Year 1, Abbott Company granted 92,000 stock options to certain executives. The options are exer
Westkost [7]

Answer:

$153,333

Explanation:

Calculation to determine What amount should Olympic recognize as compensation expense for 2016

Using this formula

Compensation expense =Total compensation/Vesting period

Let plug in the formula

Compensation expense=($5 x 92,000)/3 years

Compensation expense=$460,000/3 years

Compensation expense=$153,333

Therefore What amount should Olympic recognize as compensation expense for 2016 is $153,333

5 0
3 years ago
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Serjik [45]

Answer:

Yes

Explanation:

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7 0
3 years ago
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