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Bess [88]
2 years ago
12

Paulis Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-d

ay. During February, the kennel budgeted for 4800 tenant-days, but its actual level of activity was 4780 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for February: Data used in budgeting: Fixed element per month Variable element per tenant-day Revenue - $ 31.30 Wages and salaries $ 3800 $ 7.30 Food and supplies 400 12.10 Facility expenses 8800 4.30 Administrative expenses 8600 0.10 Total expenses $ 21,600 $ 23.80 Actual results for February: Revenue $ 108,580 Wages and salaries $ 23,580 Food and supplies $ 36,798 Facility expenses $ 19,330 Administrative expenses $ 9156 The net operating income in the planning budget for February would be closest to: Group of answer choices
Business
1 answer:
emmainna [20.7K]2 years ago
3 0

Answer:

$14,400

Explanation:

The computation of the net operating income in the planning budget is shown below:

= Total revenue - total fixed cost - total variable cost

= (4,800 × $31.30)  - $21,600 - (4,800 × $23.80)

= $150,240 - $21,600 - $114,240

= $14,400

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During the 1990s, one of the dominant firms in the U.S. cigarette industry would raise prices once or twice a year by about 50 c
ahrayia [7]

Answer: price leadership

         

Explanation: Price leadership is a circumstance where one business, typically the dominant one in its market, sets prices that its rivals follow closely.

This business is typically the one with the minimum cost of production, thus being able to outperform the prices charged by any rival who tries to set their prices below the price range of the market leader.

Rivals could increase prices than the cost leader, but this would likely lead to lower share of the market unless rivals were able to distinguish their goods adequately.

Hence from the above we can conclude that the given case depicts price leadership strategy.

3 0
3 years ago
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$10 par value, 10
melisa1 [442]

Answer:

Kohler Corporation

Journal Entries:

Jan. 2:

Debit Treasury Stock $45,000

Debit Paid-in Capital In Excess of Par $67,500

Credit Cash Account $112,500

To record the purchase of 4,500 shares of its own stock at $25 per share.

Jan. 5:

Debit Dividends $71,000

Credit Dividends Payable $71,000

To record the declaration of $2 per share cash dividend.

Feb. 28:

Debit Dividends Payable $71,000

Credit Cash Account $71,000

To record the payment of cash dividend on 35,500 shares at $2 per share.

July 6:

Debit Cash Account $48,952

Credit Treasury Stock $16,880

Credit Paid-in Capital In Excess of Par $32,072

To record the sale of treasury stock shares at $29 per share.

Explanation:

a) Data and Calculations:

Common stock—$10 par value, 100,000 shares authorized,

40,000 shares issued and outstanding $ 400,000

Paid-in capital in excess of par value,

common stock                                             60,000

Retained earnings                                      460,000

Total stockholders' equity                      $ 920,000

b) The purchase on Jan. 2 of its own stock of 4,500 shares, the cash receipt is credited to the Cash Account while the Treasury Stock is debited, but only with the par value of the repurchased shares if the par value method is adopted.  If the costing method is adopted, the value to be debited to the Treasury Stock account would have $112,500 without any debit to the Paid-in Capital In Excess of Par.  This is also followed when the sale of 1,688 treasury shares at $29 per share takes place on July 6, but with opposite entries.

c) To compute the dividend payable, the treasury stock shares of 4,500 are deducted from the outstanding shares of 40,000.  This means that the shareholders of record have shares outstanding totalling 35,500 (40,000 - 4,500).

d) The general journal is used in these cases to record the transactions initially in the books of Kohler Corporation.  They show the accounts to be debited and the others to be credited, since two accounts or more are usually involved in any business transaction.

4 0
3 years ago
This condition causes people to struggle to sequence the sounds in syllables and words, which means that
Mice21 [21]
The answer is stuttering if not it is tongue tied
7 0
2 years ago
Read 2 more answers
The Red Bud Co. pays a constant dividend of $2.00 a share. The company announced today that it will continue to do this for anot
kiruha [24]

Answer:

<u>Share of this stock worth today if the required rate of return is 7.6 percent is $3.59</u>

Explanation:

stock worth today = 2/1.076 + 2/1.076^2

stock worth today = $ 3.59

4 0
3 years ago
The Nasdaq Composite Index: a. is made of of mainly newer, smaller firms. b. is a price-weighted index. c. is made up of over 50
rodikova [14]

Answer:

A. is made of of mainly newer, smaller firms.

Explanation:

4 0
3 years ago
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