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2 years ago

How is a savings account most useful

2 answers:

8 0

Having a savings account is useful because it allows you to put money in a separate account that collects interest. When your money is your checking account, you are more likely to spend the money because it has easy access. If you are having to transfer money from a savings to a checking account, you may decide to not spend the money because you have more time to think about it. When your money is in the savings, you have a better chance of having more money for the future.

valentinak56 [21]2 years ago

5 0

For using $money$ in the near future but not right away.

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Juicy Beauty manufactures and sells a face cream to small specialty stores in the greater Los Angeles area. It presents the mont

KatRina [158]

Answer: Please see explanation column for answer

Explanation:

Recasting the income statement to emphasize contribution margin.

Juicy Beauty Operating Income Statement, June 2017

Units sold 20,000

Revenues $200,000

Variable costs(subtract):

Variable manufacturing costs $110,000

Variable marketing costs $10,000

Total variable costs $120,000

Contribution margin $80,000

Fixed costs

fixed manufacturing costs 40,000

Fixed marketing and administrative costs 20,000

Total fixed cost $60,000

Operating income $20,000

Working for income statement above =

Contribution margin = Revenue -Total variable cost =$200,000- ($110,000 + $10,000) - $80,000

Operating income= Contribution margin - Total fixed cost = $80,000 - $($40,000 +$20,000) -=$20,000

2 The contribution margin percentage and breakeven point in units and revenues for June 2017.

Contribution margin percentage = ,Contribution margin/ Revenue x 100%

= $80,000/ $200,000 x 100= 40 %

Contribution margin per unit = ,Contribution margin/ units sold

80,000 / 20,000= $4 per unit

Break even point units = Total fixed cost/ ,Contribution margin per unit

= $60,000/ $4= 15,000units

Break even revenue=

we first calculate the selling price = Revenue / units sold = $200,000/ 20,000 =$10

Break even revenue=Break even units x per unit sold = $15,000 x $10 = $150,000.

3. Margin of safety = units sold - break even point unit

20,000 - 15,000 =5000 units

4. If the sales is 16,000 and tax is 30% , Net income is

Units sold 16,000

Revenue $160,000

Contribution margin $64,000

Total fixed cost - $60,000

Operation income $4,000

tax at 30 % - $ 1200

Net income $2,800

working

Revenue = units sold x sale per unit = 16,000 x $10 = $160,000

Contribution margin = Revenue x contribution margin percentage = $160,000 x 40% = $64,000

Operation income = contribution margin - fixed costs= $64,000 - $60,000 = $4000

Tax = 30% of 4000 = $1200

Net income = $4000 - $1200 = $2,800

3 0

3 years ago

Read 2 more answers

An agreement to purchase goods and services with a specified percentage of proceeds from an original sale in that country from a

gizmo_the_mogwai [7]

Answer:

B)an offset.

Explanation:

4 0

3 years ago

Read the Leading Innovation and Change: Best Practices Case Study and answer the following in the Lesson Forum: What elements of

4vir4ik [10]

The correct answer to this open question is the following.

Although there is no further information about the case of study, we can say that the question possible refers to the case where the name of the company is just "The Client." The name of the document is "Leading Innovation Change - The Kotter Way."

This case refers to the challenges faced by an organization when it is time to innovate. Many members want to innovate but the culture of the company or the lack of proper leadership from managers often hinders the innovation efforts of the company.

So some of the elements of Kotter's Eight Stages of Leading Change that were included in the case were the following.

Create Urgency. The creation of new products of the company was limited and was not enough to compete in the future. A sense of urgency was needed to implement innovation.

Form a Powerful coalition. The company had to be very selective about the kinds of products that could help it to successfully compete in the future. The company had to use the best it had to establish priorities.

Create a vision for change. It was critical for the company to establish a new vision to get the results it needed. A renovation of the processes to face new necessities was imperative. Change has to be part of every member's mind.

Communicate the vision. This new vision had to be shared through the entire company. The members had to understand the importance of the innovative practices and each and every one of them had to be part of this new mentality.

6 0

2 years ago

Analyze the various methods available for avoiding overdrafts. Based on how you might use you account most often, decide which w

soldi70 [24.7K]

Overdrafts are given by banks only to trustworthy clients. if the bank balance is maintained clearly. To avoid overdrafts there should always be a sufficient amount of balance and avoid using cheques on situations as such.avoid ATM cards as well

4 0

2 years ago

An effective minimum wagea. imposes a price ceiling on the wages of various categories of low-skill workers.b. increases the dem

Strike441 [17]

Answer:

d. increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.

Explanation:

Minimum wage is a form of price floor. It is the lowest amount that should be paid to labour for their services rendered. It is usually set by the government or an agency of government.

Minimum wage causes supply of Labour to exceed demand for Labour. Firms would demand less of Labour because of higher cost of Labour. Decreased demand for Labour would increase unemployment.

Minimum wage isn't a price ceiling but a price floor.

Minimum wage increases the income of Labour.

5 0

3 years ago