What is meant by business objectives
2 answers:
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Answer:
$0.72
Explanation:
total direct materials = $125,000
total variable selling costs = $15,000
total variable costs = $140,000
variable cost per unit = $140,000 / 1,000 units = $140 per unit
contribution margin ratio = (sales price - variable cost) / sales price = ($500 - $140) / $500 = 72%
this means that per dollar of sales, $0.72 are left to cover fixed costs and contribute to operating income
Answer:
Ending RE 153,000
Explanation:
Retained Earning will be calcualte as follows:
We need to solve for the net incoem in order to solve for ending Retained Rearnings (RE)
Net Income: Revenues - Expenses
Service Revenue 280,000
Salaries Expense (62,000)
Depreciation Expense (5,900)
Supplies Expense (14,000)
Insurance Expense (14,600)
Utilities Expense <u> (20,000) </u>
Net Income 163,500
Retained Earnings 11,500
Net Income 163,500
Dividends (22,000)
Ending RE 153,000