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IgorLugansk [536]
3 years ago
11

Selma Inc. reported the following results from last year’s operations: Sales $ 13,800,000 Variable expenses 9,950,000 Contributi

on margin 3,850,000 Fixed expenses 3,022,000 Net operating income $ 828,000 Average operating assets $ 6,000,000
Last year's margin was closest to: Multiple Choice

78.1%
6.0%
13.8%
27.9%
Business
1 answer:
ValentinkaMS [17]3 years ago
4 0

Answer:

6%

Explanation:

Given that,

Sales = $ 13,800,000

Variable expenses = 9,950,000

Contribution margin = 3,850,000

Fixed expenses = 3,022,000

Net operating income = $ 828,000

Average operating assets = $ 6,000,000

Last year's margin:

= (Net income ÷ Sales) × 100

= ($828,000 ÷ $13,800,000) × 100

= 6%

Therefore, the last year's margin was closest to 6%.

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The campground will make the most economic profit whenit has property rights to a clean lake . True or False: The fish cannery w
babymother [125]

Answer:

hi your question is incomplete here is the complete question

Consider a lake found in the town of Center Barnstead,

The town has a campground whose visitors use the lake for recreation. The town also has a fish cannery that dumps industrial waste into the lake. This pollutes the lake and makes it a less desirable vacation destination. That is, the fish cannery's waste decreases the campground's economic profit.

Suppose that the fish cannery could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the campground would no longer be affected. If the fish cannery uses the recycling method, then the fish cannery's economic profit is $1,500 per week, and the campground's economic profit is $1,800 per week. If the fish cannery does not use the recycling method, then the fish cannery's economic profit is $2,000 per week, and the campground's economic profit is $1,000 per week. These figures are summarized in the following table.

Action

Profit

Fish Cannery

Campground

Total

(Dollars)

(Dollars)

(Dollars)

No Recycling 2,000 1,000  

Recycling 1,500 1,800  

Total economic profit is highest when the recycling production method is   .

When the fish cannery uses the recycling method, the campground earns $1,800−$1,000=$800$1,800−$1,000=$800 more per week than it does with no recycling. Therefore, the campground should be willing to pay up to $800 per week for the fish cannery to recycle water. However, the recycling method decreases the fish cannery's economic profit by $2,000−$1,500=$500$2,000−$1,500=$500 per week. Therefore, the fish cannery should be willing to use the recycling method if it is compensated with at least $500 per week.

Suppose the campground has the property rights to the lake. That is, the campground has the right to a clean (unpolluted) lake. In this case, assuming the two firms can bargain at no cost, the fish cannery will   the recycling method and will pay the campground   per week.

Now, suppose the fish cannery has the property rights to the lake, including the right to pollute it. In this case, assuming the two firms can bargain at no cost, the fish cannery will   the recycling method, and the campground will pay the fish cannery   per week.

ANSWER

  • True
  • True

Explanation:

The campground will make the most economic profit when it has property rights to a clean lake : True. this is true because the Fish cannery will be using the recycling method and from the table it is seen that when the recycling method is used The Campground make the most economic profit

The fish cannery will use the recycling method regardless of who has the property right : TRUE . this is because the Fish cannery will use the recycling method anyways because the recycling method would not pollute the water hence not interfering with the campground activities in case they own the property rights.

6 0
3 years ago
Which of the following is an example of a price floor​? A. Safeway charges​ $1 more than Fred Meyer charges for a 5 pound bag of
Snowcat [4.5K]

Answer:

C. The government guarantees that potato farmers will receive at least​ $50 a ton.

Explanation:

Price floor is implemented by the government or a group where price control is imposed or limit is placed on how low a price a product can be sold.

For price floor to be effective it must be higher than the equillibrum price.

Equillibrum price is the price at which quantity consumers are willing to pay for is equal to quantity suppliers re willing to sell.

Price floors are usually used to keep commodity prices from going too low.

So if the government guarantees farmers will receive at least $50 per ton of potato, they are setting a price floor of $50.

4 0
2 years ago
Froya Fabrikker A/S of Bergen, Norway, Is a small company that manufactures specialty heavy equipment for use In North Sea oil f
solmaris [256]

Answer:

1) JOURNAL ENTRIES

a) Debit Material Account $290,000 Credit Accounts Payable $290,000

b) Debit Work in process $ 275,000 Credit Material Account $275000

c) Debit Factory overheads $69300, Debit Selling and admin (utility expense) $7,700 Credit Accounts Payable $77,000

d) Debit Work in process $320,000 Debit Factory overheads $108,000

Credit Salary and wages Payable $428,000

e) Debit Factory overheads $72,000 Credit Accounts payable $72,000

f) Debit Selling and admin expense (Advertising) $154,000 Credit Accounts payable $154,000

g) Debit Debit depreciation expense $90000 Credit Accumulated depreciation on Factory equipment $67,500 Credit Accumulated depreciation on selling and admin facilities $22,500

h)Debit Factory rent $92000 Debit selling and admin rent $23000 Credit Accounts payable $115000

i) Debit Work in process $417,100 Credit Manufacturing overhead costs $417,100

j) Debit Finished goods $950,000 Credit work in process $950,000

k) Debit Accounts receivables $2,100,000 Credit Revenue $2,100,000

    Debit cost of sales $980,000 Credit Finished goods $980000

2)   DR                                     Raw materials                                        CR

opening bal                48000             work in process                  275000

Accounts payable     290000            balance c/d                         63000

                                  338000                                                         338000

                                            work in process

opening balance             39000          finished goods                   950000

Raw materials                275000          balance c/d                       101100

salaries payable           320000

applied overheads      417100                                                        

                                    1051100                                                       1051100

                                           finished goods

opening balance             78000            cost of sales                  980000

work in process             950000           balance c/d                   48000

                                      1028000                                                1028000

                                            Manufacturing overheads

accounts payable                  69300            work in process    417100

salaries payable                    108000

accounts payable                  72000

depreciation                          67500

Accounts payable                92000

cost of sales (over)              8300

                                            417100                                                  417100

                            selling and admin overheads

Accounts payable                 7700           Profit and loss account    207200

Accounts payable               154000

Depreciation                        22500

Accounts payable               23000

                                            207200                                                     207200

                Accumulated depreciation on Factory equipment

         balance c/d   67500                    depreciation                             67500

               Accumulated Depreciation on selling and admin facilities

balance c/d      22500                 depreciation                                 22500

                                      Accounts payable

             balance c/d         638700   raw materials                     290000

                                                        accounts payable                  69300

                                                        accounts payable                  72000

                                                        Accounts payable                92000

                                                        Accounts payable                 7700

                                                       Accounts payable               154000

                                                       Accounts payable               23000

                                       638700                                                      638700

                                         cost of sale

Finished goods         980000                  manufacturing overheads 8300

                                                                  trading account               971700

                                 980000                                                             980000

                                                 sales

trading account                2100000        Accounts receivable          2100000

                                            trading account

cost of sales              971700             sales                       2100000

 gross profit             1128300

3) cost of goods manufactured

direct material                             275000

Direct labor                                 320000

applied overheads                     417100  

cost of goods manufactured  <u>1012100</u>

4a)  Debit Manufacturing overhead 8300 Credit cost of sales 8300

4b)  finished goods

opening                78000

work in process      950000

closing goods         48000

Cost of goods sold  <u> 980000</u>

5)INCOME STATEMENT

SALES                                                                         2100000

COST OF SALES                                                          -971700

gross profit                                                                  1128300

selling and admin costs                                            -207200

Net income                                                                $921100

Explanation:

5 0
3 years ago
Which of these features of modern urban mass transit is most important?
sasho [114]
The 1rst one
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8 0
2 years ago
The _____ takes into consideration both the direct and indirect global warming effects of refrigerants.
dusya [7]
<span>The total equivalent warming impact (TEWI) takes into consideration both the direct and indirect global warming effects of refrigerants. In addition to the direct impact of the refrigerant (which is conveniently estimated by GWP), any system or process, which requires energy input, indirectly affects the environment. This impact is originated from CO2 emissions from the energy production processes. TEWI can be calculated using the equation below: TEWI = direct emissions + indirect emissions = (GWP×L×N)+(Ea×β×n), where L – annual leakage rate in the system, kg (3% of refrigerant charge annually), N – life of the system, years (15 years), n – system running time, years (based on weather data, 4910 hours), Ea – energy consumption, kWh per year (modelled for each refrigerant), β – carbon dioxide emission factor, CO2-eq. emissions per kWh (165 g CO2/kWh).</span>
6 0
3 years ago
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