This spreadsheet was created to track the money different employees earned in bonuses. The creator used

Blossom provides environmentally friendly lawn services for homeowners. Its operating costs are as follows.

Elina [12.6K]

Answer:

Break-even point = 110 lawns & Break-even sales point = $8,800

Explanation:

Total fixed costs = Depreciation + Advertising + Insurance

Total fixed costs = 1,400 + 200 + 3,680

Total fixed costs = $5280/month

Total variable cost per unit = Weed + Direct labor + Fuel

Total variable cost per unit = 13 + 16 + 3

Total variable cost per unit = $32/lawn

Contribution margin ratio = (Sales per unit - variable cost per unit) / sales per unit

Contribution margin ratio = (80 - 32) / 80

Contribution margin ratio = 0.6

Contribution margin ratio = 60%

Break-even sales = Fixed costs / contribution margin ratio

Break-even sales = $5280 / 60%

Break-even sales = $8800

Break-even sales units = Break-even sales / sales per unit

Break-even sales units = 8800 / 80

Break-even sales units = 110 lawns

Break-even point = 110 lawns & Break-even sales point = $8,800

8 0

3 years ago

Kennedy Company uses the balance sheet approach in estimating uncollectible accounts expense. The company prepares an adjusting

s2008m [1.1K]

Answer:

The amount of uncollectible account expense was recorded for July was $9,500

Explanation:

According to the given data we have the following:

Accounts written off amount=$5,200

Increase in Allowance for Doubtful Accounts=$4,300

Therefore, in order to calculate the amount of uncollectible account expense was recorded for July we would have to make the following calculation:

Uncollectible accounts expense for July= Accounts written off+ Increase in Allowance for Doubtful Accounts

Uncollectible accounts expense for July= $5,200+$4,300

Uncollectible accounts expense for July=$9,500

The amount of uncollectible account expense was recorded for July was $9,500

3 0

4 years ago

Hello everyone! I'am new over here!<br>May I have some friends?<br>(Indian☺️)

Ipatiy [6.2K]

This is an education app... thanks for the points tho lol

3 0

3 years ago

At the end of the fiscal year, the usual adjusting entry for depreciation on equipment was omitted. Which of the following state

Anton [14]

Answer:

c. Net income will be overstated for the current year.

Explanation:

Depreciation is defined as the reduction in the value of an asset over the period of it's useful life.

The deductions are calculated and taken out of the asset value on the balance sheet.

The adjusting entry for depreciation at the end of year is a debit to Depreciation Expense and a credit to Accumulated depreciation.

If this entry is no passed it means that Depreciation Expense is not recognised for that year.

Net income will be overstated because generally expenses will be understated.

5 0

3 years ago

Jose received $550 for his birthday from his family. He wishes to buy a motorcycle and decides to use his birthday money towards

vladimir2022 [97]

Answer:

$619.75

Explanation:

This is a problem of future value with compounded interest.

The equation that describes the future value of an amount (P) deposited for a period of 'n' years at an annual rate (r) compounded quarterly is:

$FV = P*(1+\frac{r}{4})^{4n}$

For a $550 investment at 4% per year for 3 years, the future value is:

$FV = 550*(1+\frac{0.04}{4})^{4*3}\\FV=\$619.75$

In 3 years, Jose will have $619.75 available towards the down payment for his motorcycle.

8 0

3 years ago