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melomori [17]
3 years ago
7

Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 42 cents per mil

e. Aldo estimates that his fixed costs per year—such as taxes, insurance, and depreciation—are $2,200. The direct or variable costs—such as gas, oil, and maintenance—average about 17.0 cents per mile. How many miles must he drive to break even? (Do not round intermediate calculations. Roundup your answer to the next whole number.)
Business
1 answer:
geniusboy [140]3 years ago
8 0

Answer:

Break even in miles = 8800 miles per year

Explanation:

The break even in units is the number of units that must be sold in order for the total revenue to be enough to cover total costs or in order for the total revenue to be equal to the total costs.

In the given scenario, the units are miles driven and the break even in units will be the number of miles to be driven to cover total costs.

The formula for break even in units is as follows,

Break even in units = Fixed costs / Contribution margin per units

Where,

Contribution margin per units =  Revenue per unit - Variable cost per unit

Contribution margin per units = 0.42 - 0.17

Contribution margin per units = $0.25 per mile

Break even in miles = 2200 / 0.25

Break even in miles = 8800 miles per year

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Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 8,638. The
mina [271]

Answer:

Net Pay = Gross Pay - Federal Income Tax - FICA-SS Tax - FICA-Medicare Tax

Net Pay = $8,260.00 - $1,325.17- $512.12 - $119.77* = $6,302.94

Explanation:

4 0
3 years ago
Campbell Co. has net sales revenue of $1,320,000, cost of goods sold of $760,700, and all other expenses of $297,000. The beginn
olasank [31]

Answer:

3.46

Explanation:

Calculation for Campbell Co. fixed asset turnover ratio

First step is to find the Average net fixed assets

Using this formula

Average Fixed assets= Fixed assets Beginning balance +Fixed assets ending balance /2

Let plug in the formula

Average Fixed assets= $368,000 + $396,000/ 2

Average Fixed assets=$764,000/2

Average Fixed assets=$382,000

Second step is to calculate for the Fixed asset turnover

Using this formula

Fixed asset turnover = Net revenue ÷ Average net fixed assets

Let plug in the formula

Fixed asset turnover= $1,320,000 ÷ $382,000

Fixed asset turnover= 3.46

Therefore Campbell Co. fixed asset turnover ratio will be 3.46

7 0
3 years ago
Taussig Snow Removal's cost formula for its vehicle operating cost is $1,880 per month plus $394 per snow-day. For the month of
arsen [322]

Answer:

$394 U

Explanation:

Calculation for the activity variance for vehicle operating cost in February would be

First step is to calculate the Flexible budget

Flexible budget= $1,880 + ($394 × 14)

Flexible budget=$7,396

Second step is to calculate the Planning budget

Planning budget= $1,880 + ($394 × 13)

Planning budget=$7,002

Last step is to calculate the activity variance for vehicle operating cost in Februar

Activity variance=Flexible budget $7,396-Planning budget $7,002

Activity variance=$394 U

Therefore The activity variance for vehicle operating cost in February would be closest to $394 U.

3 0
3 years ago
Define asset-backed security in your own words.​
Bezzdna [24]

Answer:

Asset-backed securities, also called ABS, are pools of loans that are packaged and sold to investors as securities

Explanation:

there you go

7 0
3 years ago
Resources are:
MariettaO [177]

Answer:

b.Scarce for households and scarce for economies

Explanation:

  • A resource is a source of supply form which benefit is produced and has some utility and is broadly classified in there availability. The resources are those that are scare in terms of the households and the economies and depends on the availability of the factors.
4 0
3 years ago
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