1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dezoksy [38]
3 years ago
13

LeMay Frosted Flakes Company offers its customers a pottery cereal bowl if they send in 4 boxtops from LeMay Frosted Flakes boxe

s and $1.
The company estimates that 60% of the boxtops will be redeemed. In 2012, the company sold 500,000 boxes of Frosted Flakes and customers redeemed 220,000 boxtops receiving 55,000 bowls.

If the bowls cost LeMay Company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?
a. $150,000
b. $40,000
c. $60,000
d. $84,000
Business
1 answer:
Phoenix [80]3 years ago
6 0

Answer:

The correct anwer is C. 60.000

Explanation:

First, you have to calculate tthe total expected bowls that LeMay has to buy. In this case is 500.000 * 60% / 4 = 75.000. Then, subtract the expected bowls against the already delivered. In this case 75.000 * 55.000 = 20.000. Finally, multiply by the cost per bowl, to get the outstanding premiums to record: 20.000 * 3 = 60.000

You might be interested in
A monopoly has produced a product with a patent for the last few years. The patent is going to expire. What will likely happen t
denis23 [38]

Answer:

Demand for the patent-holder's product will decrease when the patent runs out.

Explanation:

While there is a patent over a product, only the patent-holder's can sell that product. If there is a monopoly it means that that company is the only one that produce and sell this product.

When the patent run out new competitors will enter the business, so the demand on patents holders will decrease.

6 0
3 years ago
Sophia Company purchased equipment costing $120,000. The equipment has a residual value of $20,000 and an estimated useful life
mixer [17]

Answer:

Year 1 : $20000

Year 2 : $460000

Explanation:

Year 1 calculation:

120000-20000/50000*10000 =$20000

Year 2 calculation:

120000-20000/50000*23000=$46000

8 0
2 years ago
Lister Corporation has provided the following contribution format income statement. Assume that the following information is wit
g100num [7]

Answer:

(A) $420.00

Explanation:

We know that,

The net income = Sales - variable cost - fixed expense

Since, the sales units are increased by 40 units, so new sales units is 3,040 units

So, the sale per unit equals to

=  Total sales ÷ number of units

= $90,000 ÷ 3,000 units

= $30

So, the new sales

= Sales units × selling price per unit

= $3,040 × $30 = $91,200

The variable cost = Sales units × variable cost per unit

where,

Variable cost per unit =   Total variable cost ÷ number of units

= $58,500 ÷ 3,000 units

= $19.5

So, the new variable cost equals to

= 3,040 units × $19.5

= $59,280

And the fixed expense would remain the same

So, the net income would be equal to

= $91,200 - $59,280 -  $21,-00

= $10,920

The net income given is $10,500

So, the difference equals to

= $10,920 - $10,500

= $420

7 0
3 years ago
Explain briefly why social workers should take appropriate personal safety training and practice safety measures.
Nina [5.8K]

Answer:

Social workers should take appropriate safety training and practice safety measures because they are working with clients who may have a variety of issues.   Social workers work with people who may have mental illness or be under the influence of drugs or alcohol.  Social workers also visit client’s homes on their own, so it is essential for them to know how to be safe.

Hope it helps,

Please mark me as the brainliest

Thank you

5 0
2 years ago
As part of her retirement planning, Mrs. Campbell purchases an annuity that pays compounded quarterly. If the quarterly payment
melisa1 [442]

Answer: $88289.8

Explanation:

Here's the complete question:

As part of her retirement planning, Mrs. Campbell purchases an annuity that pays 9.5% compounded quarterly. If the quarterly payment is $3,500, how much will Mrs. Campbell have saved in 5 years?

The future value of an annuity will be calculated using the formula:

= A((1+r)^n)-1)/r

Where,

A = the annuity payment = 3500

r = the interest rate = 9.5% compounded quarterly = 9.5% / 4 = 0.095 / 4 = 0.2375

n = the number of time periods = 4 × 5 = 20

We then substitute the values and we will get:

= A((1+r)^n)-1)/r

= 3000 × (1.02375^20-1) / 0.02375

= $88289.8

7 0
2 years ago
Other questions:
  • If two or more users are waiting for the other user to release a lock before they can proceed, this is known as a ____.
    7·2 answers
  • Choose the best closing for a message requesting the receiver's support for a proposed change in a benefits plan.
    13·1 answer
  • Oldhat Financial starts its first day of operations with $11 million in capital.A total of $120 million in checkable deposits ar
    6·1 answer
  • On average, someone with a Bachelor's degree is estimated to earn ____ times more than someone with a high school diploma.
    9·2 answers
  • Frictional unemployment is thought to explain relatively A. long spells of unemployment, as is structural unemployment. B. short
    13·1 answer
  • Select the four challenges facing ebusiness.
    11·1 answer
  • The change in the capital stock is a flow variable. <br> a. True <br> b. False
    13·1 answer
  • Alex works as a customer service representative at an insurance company. Before starting his shift, Alex reviews issues from his
    5·2 answers
  • Presented below is information related to Vaughn Company. Cost Retail Beginning inventory $252,960 $281,000 Purchases 1,368,000
    12·1 answer
  • During 2020, Concord Company started a construction job with a contract price of $1,580,000. The job was completed in 2022. The
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!