Which of the following is NOT a reason for budgeting?*

A company charting its profits notices that the relationship between the number of units sold, x, and the profit, p, is linear.

Naily [24]

Answer: Profit equation is $y=58x - 7500$

Explanation:

$Number of units sold= x$

$Y = Profit$

$Slope = \frac{Change in y}{change in X}$

$\frac{6520 - 3520}{240 - 190}$

$= \frac{2900}{50}$

$= 58$

$Y=mX+b$

$Y= 58X+b$

Substituting the value of profit and units sold into this equation we can find out the value for b,

$When y=6420 , x=240$

$6420= 58(240) + b$

$-7500=b$

So, the profit equation is $y=58x - 7500$

6 0

3 years ago

DS Unlimited has the following transactions during August. August 6 Purchases 78 handheld game devices on account from GameGirl,

borishaifa [10]

Answer:

August 6

DR Inventory $18,720

CR Accounts Payable $18,720

(To record purchase of goods for sale)

= 76 devices * $240

= $18,720

August 7

DR Inventory $440

CR Cash $440

(To record shipping costs of Inventory)

August 10

DR Accounts Payable $1,920

CR Inventory $1,920

(To record Purchase returns)

August 14

DR Accounts Payable $16,800

CR Inventory $168

CR Cash $16,632

(To record payment of purchases)

Working

Accounts Payable = Purchases - Returns

= 18,720 - 1,920

= $16,800

Inventory

Goods were purchased terms 1/10 meaning a 1% discount is goods paid for in 10 days.

= 1% * 16,800

= $168

August 23

DR Accounts Receivable $15,080

CR Sales Revenue $15,080

(To record sales of goods on account)

Sales Revenue = 58 devices * 260

= $15,080

August 23

DR Cost of Goods Sold $14,145.37

CR Inventory $14,145.37

(To record cost of Goods sold)

4 0

3 years ago

Suppose there is no official minimum wage and the lowest-paid workers receive $16.00/hr. If the government then enacts a minimum

valkas [14]

Answer: There will be an effect as there might be labor shortage.

Explanation: Minimum wage is the least renumeration pay that can legally be paid by employers to their workers. It is a price floor method below which employees can't sell their labor. When a minimum wage is imposed by the government, firms are not allowed to pay less than the wage rate mandated by the government.

If the minimum wage is set below the equilibrium wage rate, quantity of labor reduces in comparison to the quantity demanded by employers. If the least paid person is paid $16 per hour and the government imposes a minimum wage of $10, There will be a shortage of labor because most people won't like to work as a result of the lower income. It also leads to lack of motivation among workers.

7 0

4 years ago

Marketing strategy addresses a specific target market with a cohesive marketing mix of:

Viktor [21]

Answer:

A) Product, price, place, promotion

Explanation:

The 4 Ps of marketing are:

product: what good or service is our company selling and what need will it satisfy.
price: the actual amount that the company expects that final customers will pay for the product, if the price is too high, the sales volume can be small, but if the price is too low, the profits can b too low also
place: how and where will the product be provided to the customer, e.g. physical stores, online
promotion: include marketing strategies and techniques carried out to communicate the existence and the qualities of our product to potential customers, they include advertisement, sales promotions, public relations

5 0

3 years ago

The following materials standards have been established for a particular product: Standard quantity per unit of output 4.6 grams

Setler79 [48]

Answer:

Direct material quantity variance= $15,351 unfavorable

Explanation:

Giving the following information:

Standard quantity per unit of output 4.6 grams

Standard price $ 15.05 per gram

Actual materials used in production 2,400 grams

Actual output 300 units

To calculate the material quantity variance we need to use the following formula:

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (4.6*300 - 2,400)*15.05

Direct material quantity variance= (1,380 - 2,400)*15.05= $15,351 unfavorable

6 0

3 years ago