An agent and broker is one type of marketing intermediary that brings together buyers and sellers and assists in negotiating an exchange but does not take title to the goods.
<h3>What are agent and broker?</h3>
Agents and brokers are described as the traders that conduct the trade of goods, or can associate with buying and selling processes. It is important to mention that agents and brokers form an important link in influencing a supplier, trading of products, and movement of goods.
The agents and the brokers do not possess the goods but act as an important intermediary who makes it easy to buy and sell. In other words, the agents and the brokers bring the sellers and the buyers together so that an effective negotiation process can be conducted.
It can be concluded that an agent and broker is one type of marketing intermediary that brings together buyers and sellers and assists in negotiating an exchange but does not take title to the goods.
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Answer: 61,200 units
Explanation:
Using the FIFO method:
= Equivalent units for beginning WIP + Units started and finished + EUP Ending WIP
Units started and finished = 65,000 additional units - 10,000 closing WIP
= 55,000 units
80% of the beginning WIP had been completed in the previous month so only 20% remains.
EUP Conversion = (1,000 * 20%) + 55,000 + (10,000 * 60%)
= 61,200 units
Answer:
The total fixed costs must be:
$36,000.
Explanation:
a) Data and Calculations:
Contribution margin ratio for the new product = 0.2
Target operating income = $60,000
Targeted sales volume in dollars = $480,000
Fixed costs = targeted sales volume in dollars multiplied by contribution margin ratio, minus target operating income
Fixed costs = ($480,000 * 0.2) - $60,000 = $36,000
b) The focus should be on the break-even formula for dollar sales with a target profit. When the formula is reversed, the fixed costs can be calculated as shown above.
The answer is savings account A.
Since savings account A compounds the interest quarterly it adds interest to the account every quarter. This makes it a more profitable account than one that compounds the interest semiannually. The reason is that the bank is adding interest more frequently, so you are earning interest on the interest that the bank has already paid you.
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