Answer:
$ 7000
Explanation:
Given data;
Weekly salary of the salesperson = $ 600
Commission earned = 1 % on the sales over $ 2000
The amount earned by the salesman in the week = $ 650
Thus, the commission received = $ 650 - $ 600 = $ 50
Now,
let the amount over $ 2000 for which the commission of $ 50 paid be 'x'
therefore,
1 % of x = $ 50
or
0.01x = $ 50
or
x = $ 5000
Hence, the total sales was of $ 2000 + $ 5000 = $ 7000
Answer:
The accounting cycle is all about managing,updating and reporting on the firm's accounts.
Explanation:
The accounting cycle can be listed in the following nine steps as:
- Step 1: analyzing transactions as sales, purchase,etc
- Step 2: All the transactions need to be recorded
- Step 3: All the information should be transferred from journal to the ledger
- Step 4: An unadjusted trial balance should be formulated
- Step 5:Adjusted entries are prepared
- Step 6: An adjusted trial balance is constructed
- Step 7: a financial statement is prepared
- Step 8: Closing entries are prepared
- Step 9: The post closing trial balance is prepared
<span>Industry </span><span>Web sites have job listings created for individuals who wish to perform work using trade-specific skills such as plumbing, electrical, welding, teaching, agriculture, and so on. </span>
Answer:
The EOQ is 353 units
Explanation:
The economic order quantity or EOQ is the quantoty that minimized the holding and ordering cost for invetory.
The formula for EOQ is,
EOQ = √(2*D*O) / H
Where,
- D is the annual demand in units
- O is the ordering cost per order
- H is the holding cost per unit per annum
The annual demand of oil filters by Sam is,
Annual demand = 52 * 150 = 7800 filters
The EOQ for Sam Auto Shop is,
EOQ = √(2*7800*16) / 2
EOQ = 353.27 Units rounded off to 353 units
