1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
GaryK [48]
2 years ago
9

Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Pro

duct X at a total cost of $1,100 per unit, of which $750 is product cost and $350 is selling and administrative expenses. In addition, the total cost of $1,100 is made up of $630 variable cost and $470 fixed cost. The desired profit is $143 per unit.
Required:
Determine the mark up percentage on total cost.
Business
1 answer:
vlada-n [284]2 years ago
8 0

Answer:

The mark up percentage on total cost is 13%.

Explanation:

Mark up percentage on total cost refers to the profit as a percentage of the total cost.

Therefore, the mark up percentage on total cost can be calculated using the following formula:

Mark up percentage on total cost = (Desired profit / Total cost) * 100 ......... (1)

Where;

Desired profit = $143

Total cost = $1,100

Substituting the values into equation (1), we have:

Mark up percentage on total cost = ($143 / $1,100) * 100 = 0.13 * 100 = 13%

Therefore, the mark up percentage on total cost is 13%.

You might be interested in
Fundamental analysis determines that the price of a firm's stock is too low, given its intrinsic value. The information used in
Allisa [31]

Answer:

The correct answer is letter "B": Neglected-firm effect.

Explanation:

The Neglected-firm effect has the purpose to explain why small companies that are not well-known have better performances than the ones that are. The theory explains that smaller companies' stocks generate higher returns because they are unlikely to be studied by market analysis. In that sense, because no much information is provided by the smaller firms -even lesser than what is required by law, they are <em>neglected </em>by analysts since there are very few data to take a look at.

8 0
3 years ago
I toss a penny and observe whether it lands heads up or tails up. Suppose the penny is fair, i.e., the probability of
Alexandra [31]

Answer:

A) if I flip the coin many, many times, the proportion of heads will be approximately 1/2, and this proportion will tend to

get closer and closer to 1/2 as the number of tosses increases.

Explanation:

Probability is described as the likelihood of an event happening. It is expressed in numerical fractions between zero and one. Zero means near certainty that the event will not occur while one is a guarantee that the event is happening.

A probability of 1/2 signifies a 50 percent chance. In a coin toss, 1/2 probability means the coins have 50 chance of landing on either tail or head. A coin has only two sides. Each ill toss presents a head or tail. The more tosses one makes, the proposition of heads to tail get closer 1/2. Very many tosses will give show 1/2 to either tails or head.

7 0
3 years ago
John Grey owns Grey's Snow Plowing. In October, he collects $12,000 cash for 6 commercial accounts for which he will provide sno
mote1985 [20]

Answer:

The correct answer is Debit Unearned Plowing Revenue

Explanation:

Earlier the journal entry would be recorded as:

Cash A/c.................................................Dr    $4,000

    Unearned Plowing Revenue A/c..............Cr   $4,000

But the correct entry that should be recorded is:

Cash A/c.................................................Dr    $4,000

    Plowing Revenue Earned A/c..............Cr   $4,000

So, in order to pass the adjusting entry, we should debit the Unearned Plowing Revenue in order to reconcile or nill the same account by debiting.

4 0
3 years ago
Europe places a $1 per pound import tax on lobsters
Mice21 [21]
Is this a question or a fact?
8 0
3 years ago
Stefan Ceramics is in the business of selling ceramic vases. It has two departments - molding and finishing. Molding department
lakkis [162]

Answer:

Explanation:

The journal entry is shown below:

Work in Process-Molding A/c Dr $3,000

     To Accounts Payable Control               $3,000

(Being the purchase and used production is recorded)

The computation of the purchase amount is shown below:

= Number of kgs purchased × price per kg

= 500 kgs × $60

= $3,000

The other information which is given is not considered. Thus, ignored it

6 0
3 years ago
Other questions:
  • Which of the following taxpayers (all of whom have one qualifying child for purposes of the child tax credit) are able to claim
    8·1 answer
  • Manson Industries incurs unit costs of $8 ($5 variable and $3 fixed) in making an assembly part for its finished product. A supp
    15·1 answer
  • Explain just in time(JIT) approach?
    6·1 answer
  • Which terms will make the following statement true? When manufacturing overhead is overapplied, the Manufacturing Overhead accou
    5·1 answer
  • Colby and carleton own a business. most of their friends and colleagues would say colby, who manages the business on a daily bas
    14·1 answer
  • Costly Corporation is considering a new preferred stock issue. The preferred would have a par value of $1000 with an annual divi
    14·1 answer
  • If a 20 percent increase in the price of Red Bull energy drinks results in a decrease in quantity demanded of 25 percent, we say
    10·1 answer
  • This question, used by solution focused therapist, is intended to circumvent clients global and unremitting perceptions of the p
    13·1 answer
  • In the first quarter of operation, the Blending Department of ChemUSA produced 50,000 barrels of Compound X and left 20,000 barr
    15·1 answer
  • Absorption costing can lead managers to mistakenly believe that fixed manufacturing overhead costs will Blank______ in total as
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!