To find: Breakeven point (in units)
Given: Number of hams sold = 11000
Sales revenue = $220,000
Variable cost = $55,000
Fixed cost = $24,000
Solution: Break-even point (in units) can be calculated as:-
Fixed costs / (sales price per unit-variable costs per unit)
Fixed costs = $24,000
Sales price per unit = total sales revenue/number of units = 220000/11000 =
$20
Variable costs per unit = total variable cost/number of units = 55000/11000 = $5
Putting values in the formula,
=24000 / (20-5)
=24000/15
=1600
Breakeven point (in units) = 1600 units
Answer:
Debit - Supplies expense $4,200
Credit - Supplies $4,200
Explanation:
Adjusting entries are prepared to ensure that the revenue and expense recognition rules, are properly applied each accounting period.
Expenses are the outflows of assets or incurrence of liabilities during a period from delivering or producing goods or services. They are incurred in an attempt to produce revenues.
The principle says that expenses should be recognized in the same period as the revenues to which they relate.
According to this rule, we should use the next equation:
Supplies expense = supplies at the beginning of the period + supplies purchased - supplies balance at the end of the period
Supplies expense = $2,000 + $3,000 - $800
Supplies expense = $4,200
Adjusting entry:
Debit (expense account) - Supplies expense $4,200
Credit (asset account) - Supplies $4,200
The answer is d. If he is addressing it publicly. ?
Answer:
The appropriate choice is Option c (4.25%).
Explanation:
Given:
Annual dividend,
= $4.29
Price per share,
= $101.03
Now,
The required return will be:
= 
= 
= 
or,
= 
(%)
Answer:
e). all of the above
<u>Multiple-choices</u>
a). working capital
b). current ratio
c). quick ratio
e). all of the above
Explanation:
Working Capital is the difference between the total current asset and current liabilities. I.e., working capital = total current assents - total current liabilities. It is calculated to assess a company's ability to pay its current liabilities.
The Current Ratio is calculated using the formula below.
current ratio= total current assets / total current liabilities. It measures the company's ability to meet its current liabilities with its current assets.
Acid-test Ratio (Quick Ratio) evaluates a company's ability to meet its current liabilities using cash or cash equivalents only. It measures the ability to repay current debts without having to sell inventory.
Quick ratio or acid test is calculated as follows= (cash + short-term investments + receivables) / total current assets
