Answer:
The overall Sales revenue at break even is $515995.872
Explanation:
The overall break even in dollars or the composite break even point is the Total revenue that a business must earn from all its products that should be equal to the total costs from all its products and there is no profit or no loss.
The formula for composite or overall break even in dollars is,
Break even in dollars = Fixed costs / Weighted average contribution margin ratio
Where the weighted average contribution margin ratio is the weghtage of each product in the overall sales mix multiplied by the contribution margin of each product.
The total sales mix is = 8 + 4 + 1 = 13
Weighted average contribution margin ratio = ((360 - 210) / 360) * 8/13 +
((500 - 300) / 500) * 4/13 + ((1600 - 600) / 1600) * 1/13 = 0.5814 or 58.14%
Break even in dollars = 300000 / 0.5814
Break even in dollars = $515995.872
If there is some discrepancy in the final answer, it will be due to the rounding off of the weighted average contribution margin ratio
Answer:
Cash Dr 10975
To Sales $10,000
To Sales Tax Payable $975 ($10,000 × 9.75%)
(Being the cash is recorded)
Explanation:
The journal entry is shown below;
Cash Dr 10975
To Sales $10,000
To Sales Tax Payable $975 ($10,000 × 9.75%)
(Being the cash is recorded)
For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it also increased the revenue and liabilities
<span>Your question lacks some context. So, I am going to assume that you are talking about relates to America as a whole. If my assumption is right, I'd have to say that the answer is false because they are at the state level and the federal level outranks it. For instance, if Texas passes a law abolishing a minimum wage, the law on federal minimum wage still must be followed.</span>
The correct answer is the Public Company Accounting Oversity Board.
The Sarbanes-Oxley Act was enacted in 2002. It’s purpose was to protect investors and add additional oversight for corporations after a number of companies were caught up in accounting scandals and investors lost billions of dollars.
