Answer:
Journal entry
Explanation:
The journal entry is as follows
Cash $1,323
Service charge expense ($1,350 × 2%) $27
To Sales Revenue $1,350
(Being the cash is recorded)
for recording this transaction we debited the cash and expenses as it increase both balances while at the same time the sales revenue is also increased so it is credited
Answer:
Ok but where is the question?
Answer: $104.78
Explanation:
Total allocated value per square foot = Selling price - land value - site improvement
= 482,500 - 150,000 - 25,000
= $307,000
Allocated value per square foot = 307,000/2,930
= $104.78
Answer:
Break even in miles = 8800 miles per year
Explanation:
The break even in units is the number of units that must be sold in order for the total revenue to be enough to cover total costs or in order for the total revenue to be equal to the total costs.
In the given scenario, the units are miles driven and the break even in units will be the number of miles to be driven to cover total costs.
The formula for break even in units is as follows,
Break even in units = Fixed costs / Contribution margin per units
Where,
Contribution margin per units = Revenue per unit - Variable cost per unit
Contribution margin per units = 0.42 - 0.17
Contribution margin per units = $0.25 per mile
Break even in miles = 2200 / 0.25
Break even in miles = 8800 miles per year
