All categories

3 years ago

Assume markup is based on cost. Find the dollar markup and selling price for the following problem.

Business

1 answer:

uranmaximum [27]3 years ago

3 0

Answer and Explanation:

The computation of the dollar markup and the selling price is shown below

The dollar markup is

= $590 × 20%

= $118

And, the selling price

= Cost + dollar markup

= $590 + $118

= $708

hence, the same would be relevant and considered too

You might be interested in

The concept that people should pay taxes based on the benefits they receive from government services is called?.

Scilla [17]

The Benefits Received Principle is an income tax fairness theory that holds that individuals should pay taxes based on the advantages they receive from the government.

According to the benefits received rule, those who receive the most benefits from the government, either directly or indirectly, should pay the most taxes in order to be fair.

Rather than using such a rule, taxes in the United States are mostly paid using a progressive system of income tax .

The benefits received rule dissuades double-counting charitable donations as a tax regulation.

Learn more on income tax -

brainly.com/question/17075354

#SPJ4

5 0

1 year ago

Adam Jones, the purchasing manager for ACME Corporation, is under suspicion for committing fraud. His superiors believe he is ac

pychu [463]

Answer:

ACME Corporation

Fraud Suspicion of Adam Jones:

1. Pre-admission-seeking Investigation Procedures:

Review the company's policies and procedures
Interview those who raised the suspicion to establish reasonable basis
Interview suppliers and vendors to determine facts
Decide if investigation was necessary in the light of company policies and preliminary findings
Plan the interview

2. Adam's initial reaction when confronted:

Adam would be defensive and try to deny the existence of such acts, especially when he is not sure that you have got some evidence against him.

3. Adam might try to cover his track when suspicion alert has been raised to his knowledge. He might contact the vendors and suppliers involved to ensure that they did not disclose any unfavorable information to the investigator. He might also engage in bluffing, that is trying to prove his innocence before the investigation proper.

4. I know this because I have dwelt with such reactions before.

Explanation:

In law, fraud is the deliberate misrepresentation of facts for the purpose of depriving someone of a valuable possession or enriching oneself.

8 0

3 years ago

The government of Wrexington, a country which has adopted American GDP accounting conventions, has calculated that the seasonall

Julli [10]

Answer:

d.$20 billion at an annual rate

Explanation:

As $5 billion was quarter 1 market value of final goods and services produced,the annual rate will be $5*4=$20 billion annually

4 0

3 years ago

Andrew owns land (adjusted basis of $94,400) that he uses in his business. He exchanges the land and $47,200 in cash for a diffe

Inga [223]

Answer:

Andrew did do a proper feasibility study about the land

Explanation: Andrew lots chunk of money because he gave out his land half of the price he bought it initially. And bought another at a higher price

which is more than the 10,000 dollars

7 0

3 years ago

Schwering Corporation uses activity-based costing to assign overhead costs to products. Overhead costs have already been allocat

Vesnalui [34]

Answer:

Instructions are below.

Explanation:

1)

Order Filling, $136,040

Orders (Order Filling)

Product D7 3,040

Product U1 760

To calculate the predetermined overhead rate, we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Order Filling= 136,040/3,800

Order Filling= $35.8 per order

2)

Overhead costs:

Machining, $81,600

Order Filling, $161,500

Activity data appear below:

MHs (Machining) Orders (Order Filling)

Product D7 13,200 4,000

Product U1 26,800 1,000

First, we need to calculate the activity rate for each activity:

Machining= 81,600/40,000= $2.04 per machine hour

Order Filling= 161,500/5,000= $32.3 per order

Now, we can allocate overhead to product U1:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Product U1= 2.04*26,800 + 32.3*1,000= $86,972

3)

Wall Mirrors Specialty Windows

Total expected units produced 7,700 1,450

Expected direct labor-hours per unit 14 7

The total materials handling cost for the year is expected to be $17,153.10.

Total direct labor hours, and predetermined overhead rate:

Total direct labor hours= 14*7,700 + 7*1,450= 117,950

Material Handling activity rate= 17,153.1/117,950= $0.145 per direct labor hour

Now, we allocate overhead:

Wall Mirrors= 0.15*107,800= $16,170

6 0

3 years ago