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Mamont248 [21]
3 years ago
14

Concord Sports sells volleyball kits that it purchases from a sports equipment distributor. The following static budget based on

sales of 1,820 kits was prepared for the year. Fixed operating expenses account for 73% of total operating expenses at this level of sales.
Sales $87,000
Cost of goods sold (all variable) 52,200
Gross margin 34,800
Operating expenses 30,450
Operating income $ 4,350
Assume that during the year Concord Sports actually sold 1,827 volleyball kits during the year at a price of $42 per kit.

Calculate the sales price variance.
Business
1 answer:
Drupady [299]3 years ago
4 0

Answer:

Sales price variance= $10,596.6 unfavorable

Explanation:

Giving the following information:

The following static budget based on sales of 1,820 kits was prepared for the year.

Sales $87,000

Assume that Concord Sports sold 1,827 volleyball kits during the year for $42 per kit.

First, we need to calculate the standard selling price:

Standard selling price= 87,000/1,820= $47.80

The sales price variance is calculated as follow:

Sales price variance= actual sales revenue - actual sales at the standard price

Sales price variance= (1,827*42) - (1,827*47.8)= $10,596.6 unfavorable

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sergejj [24]

Answer:

$1,296

Explanation:

To get the total amount he earned, we calculate the simple interest the first and compound interest on the second investment

For the first;

I = PRT/100

Where I = the simple interest

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R is the yield percentage called the rate

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For the first investment:

I = (8,000 * 6 * 1)/100 = $480

For the second investment

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n is number of times, 2 in this case since it is semi annually

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Total amount of interest earned is thus $816 + $480 = $1,296

4 0
3 years ago
When the supply of a commodity decreases while demand remains the same price tends to:_____.
postnew [5]

When the supply of a commodity decreases while demand remains same then the same price tends to increase.

Given that the supply of a commodity decreases while the demand remains same.

We are required to find the effect of decrease of supply on the price of the commodity if the demand remains same.

Supply is the amount of good that the producer manufactures and sends to the market.

Demand is the amount of good that the consumer wants to consume.

When the supply of a commodity decreases,the supply will shift leftwards. The demand remains same then from the graph we can find that the price of the commodity increases from P to P1.

Hence when the supply of a commodity decreases while demand remains same then the same price tends to increase.

Learn more about supply at brainly.com/question/25843620

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3 0
1 year ago
This monetary policy the economy's demand for goods and services, leading to product prices. In the short run, the change in pri
RoseWind [281]

Answer:

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Fiscal policy works with the real sector such as good and services

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2 years ago
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Answer:

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