If the cutting edge sells ice skates. total sales are $845,000, total variable expenses are $245,050 and total fixed expenses are $302,000. the variable expense ratio is: 29%.
<h3>Variable expense ratio</h3>
Using this formula
Variable expense ratio=Total variable expense /Total sales
Let plug in the formula
Variable expense ratio=$245,050/ $845,000
Variable expense ratio=0.29×100
Variable expense ratio=29%
Therefore If the cutting edge sells ice skates. total sales are $845,000, total variable expenses are $245,050 and total fixed expenses are $302,000. the variable expense ratio is: 29%.
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Answer:
Fordism, a specific stage of economic development in the 20th century. Fordism is a term widely used to describe (1) the system of mass production that was pioneered in the early 20th century by the Ford Motor Company or (2) the typical postwar mode of economic growth and its associated political and social order in advanced capitalism.
Explanation:
Good luck
Answer:
The correct answer is option B.
Explanation:
The world price of a pound of almonds is $4.50.
During autarky, the price of almonds in Uruguay is $3.
Once Uruguay opens trade with other countries, since the price of almonds is lower in Uruguay than the world price, Uruguay will export almonds to the world. With the opening up of trade, the price will rise to $4.50.
Answer:
The estimated amount of depreciation expense is $1,500
Explanation:
Depreciation means a permanently and continuous diminution in value or quaof a tangible non-current asset. Depreciation occurs over several years. Every year a non-current asset is used, the price of that asset reduces drastically. There are various methods used to solve the rate of depreciation. There is the straight line method and reducing balance method. The question requires to be solved using the straight line method.
The formula for solving depreciation using a straight line method is ; (Cost less Estimated scrap value) ÷ Number of expected years of use.
Replacing with figures, we have: ($8,000 - $500) ÷ 5 years = $1,500. Therefore, $1,500 is our estimated amount of depreciation expense.
