Answer:
If volume reaches 500 units, net income will be: $715
Explanation:
When volume of sales was at 400 units:
Selling price per unit = Sales Revenue/400 = $1,600/400 = $4
Variable Cost per unit = Variable Cost/400 = $700/400 = $1.75
If volume reaches 500 units:
Total Sales Revenue = $4 x 500 = $2,000
Variable Cost = $1.75 x 500 = $875
Fixed Cost will not change = $410
Net income = Total Sales Revenue - Variable Cost - Fixed Cost = $2,000 - $875 - $410 = $715
Answer:
I think that they MIGHT be A C and D
Explanation:
Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
With a decrease in input prices, the producers will be willing to produce more items, but we are unsure if consumers will be able to buy more because they drop in income; therefore, we don't know what the price will do.
<u>Answer</u>:
C) a watermelon, a chair, and a pencil is a list of private goods only.
<u>Explanation</u>:
In Economics, private goods are goods that need to be purchased for consumption, and if an individual is consuming it, then the other individuals cannot consume it. These goods are also considered as excludable which means that if a user has bought it, he/she can prohibit its use from the public through ownership rights. The owner could be an individual or a group of individuals.
By applying the above definition, it is clear that C is the only alternative that consists of private goods only, that is, A watermelon, a chair, and a pencil.
Answer:
debit to Accounts Receivable for $3,500 credit to Sales for $3,430
Explanation:
Merchandise with a sales price of $3,500 is sold on account with terms 2/10, n/60. The journal entry to record the sale would include a debit to Accounts Receivable for $3,500 credit to Sales for $3,430.
Since the goods were sold on account, it means that it was sold on credit and an entry to cash will be a wrong entry. The right Journal entry will be a debit to accounts receivable for the total amount and a credit to sales for the total amount less the proposed discount amount of 2%
