1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Romashka [77]
3 years ago
5

Connolly Company produces two types of lamps, classic and fancy, with unit contribution margins of $13 and $21, respectively. Ea

ch lamp must spend time on a special machine. The firm owns four machines that together provide 18,000 hours of machine time per year. The classic lamp requires 0.20 hours of machine time, the fancy lamp requires 0.50 hours of machine time.
Required:
What is the contribution margin per hour of machine time for a fancy lamp?
Business
1 answer:
Usimov [2.4K]3 years ago
7 0

Answer:

$42

Explanation:

Data provided as per the requirement of contribution margin per hour of machine time is here below:-

Unit Contribution Margin = $21

Machine Time required by fancy lamp = 0.50 hours

The computation of contribution margin per hour of machine time is shown below:-

Contribution Margin Per Hour of machine time = Unit Contribution Margin ÷ Machine Time required by fancy lamp

= $21 ÷ 0.50 hours

= $42

Therefore for computing the contribution margin per hour of machine time we simply divide the unit contribution margin by machine time required by fancy lamb.

You might be interested in
In which of the following situations would each of the members be responsible for producing an equal share of the total amount o
Natasha_Volkova [10]

Answer:

In which of the following situations would each of the members be responsible for producing an equal share of the total amount of output sold by the cartel engaged in joint profit maximization?

When marginal costs of production are the same for each of the members of the cartel.

Explanation:

D

8 0
3 years ago
Suppose you purchase five put contracts on Testaburger Co. The strike price is $45, and the premium is $3. If, at expiration, th
andriy [413]

Answer:

3000

1500

Explanation:

For each of the answers in this question I have added the formulas to solve them in the attachment below

1.

(45-39)*5*100

= 3000

2.

(45-39)-3 x5 x100

= $1500

7 0
3 years ago
A company normally sells its product for $20 per unit. However, the selling price has fallen to $15 per unit. This company's cur
musickatia [10]

Answer:

correct option is d. $600

Explanation:

given data

sells product = $20 per unit

selling price fallen = $15 per unit

FIFO inventory = 200 units

purchased = $16 per units

Net realizable value fallen = $13 per unit

to find out

amount of the lower cost of market

solution

we know that here Company record inventory at lower

so market value or cost of the inventory at  declined time

and here Market Adjustment is the Difference of the cost and the Market Value

so cost will be here

Cost =  200 × $16

cost = $3200

and

Net realizable value will be

Net realizable value =  200 × $13

Net realizable value = $2600

so that Market adjustment is the difference of

Market adjustment  difference = $3200 - $2600

Market adjustment  difference = $600

so correct option is d. $600

8 0
3 years ago
Suppose Hoosiers, a specialty clothing store, rents space at a local mall for one year, paying $13,800 ($1,150/month) in advance
tigry1 [53]

Answer:

1.

Dec 31    Rent expense                   $3450 Dr

                  Prepaid Rent                       $3450 Cr

2.

Oct 1     Prepaid Rent                        $13800 Dr

                  Cash                                       $13800 Cr

3.

Year end balances at 31 December:

Rent Expense = $3450

Prepaid Rent = $10350

Explanation:

Assumption: The year end for the business in on 31 December.

1.

The rent is paid in advance thus it is an asset. On 31 December the adjusting entry will be made under the accrual principle to match the current period's rent expense and record it in the period to which it belongs to. Thus we will credit the rent expense for 3 months i.e. October, November and December. We will credit the asset account that is Prepaid Rent.

2.

The prepayment of rent is creating an asset account in the title of prepaid rent. The entry would be to record the asset prepaid rent by the full amount of the rent prepaid and credit the other asset account through which the payment is being made.

3.

The adjusted year end balance for rent expense will be the rent expense paid for this period that is $1150 * 3 = 3450

The balance in the prepaid rent account after adjusting the rent expense will be,

Prepaid rent = 13800 - 3450 = $10350

8 0
3 years ago
After setting the pricing objective, the next step in Amy's price-setting process is to:_______. a) monitor the effectiveness of
lakkis [162]

Answer:   Evaluate demand

After setting the pricing objective, the next step in Amy's price-setting process is to evaluate demand

Explanation:

4 0
3 years ago
Other questions:
  • A company that doesn't just make money but makes a difference in the world and gives back to the community is a company that eng
    11·1 answer
  • LYZ sells product P for $40 per unit. The cost of one unit of P is $36, and the replacement cost is $35. The estimated cost to d
    10·1 answer
  • Over the years, O'Brien Corporation's stockholders have provided $20,000,000 of capital, when they purchased new issues of stock
    12·1 answer
  • What is a beneficiary?
    6·2 answers
  • Michael (single) purchased his home on July 1, 2009. He lived in the home as his principal residence until July 1, 2017 when he
    7·1 answer
  • In the Keynesian-cross model, fiscal policy has a multiplied effect on income because fiscal policy: changes income, which chang
    14·2 answers
  • Using the direct method, Pone Hill Company allocates Janitorial Department costs based on square footage serviced. It allocates
    9·1 answer
  • Sean, age 37, wants to maximize his 2021 Roth IRA contribution and purchase as much Beyond Meat stock as possible. If BYND stock
    9·1 answer
  • Malone Co. owned 70% of Bernard Corp.'s common stock. During November 2021, Bernard sold merchandise to Malone for $150,000. At
    10·1 answer
  • What is a secured credit card and how does it work.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!