BUSINESS COLLEGE

Vaughn Manufacturing has two divisions; Sporting Goods and Sports Gear. The sales mix is 75% for Sporting Goods and 25% for Sports Gear. Vaughn incurs $6890000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Sports Gear it is 50%. The weighted-average contribution margin ratio is 70%. 35%. 40%. 45%.

Answers

Answer 1
Answer:

Answer:

The correct answer is 35%.

Explanation:

According to the scenario, the computation of the given data are as follows:

We can calculate the Weighted average contribution margin ratio by using following formula:

weighted-average contribution margin ratio =  (Contribution margin ratio × Sales of sporting goods) + (Contribution margin ratio × Sales of sporting gears)

= ( 30 × 75% ) + ( 50 × 25%)

= 22.5% + 12.5%

= 35%

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Assume the supply of bananas decreases due to rising costs ofproduction, while demand increases due to consumer preferences. Whatwill happen to the new equilibrium price and quantity?A) price increases; quantity increasesB) price increases; quantity is unknownC)price decreases; quantity decreasesD)price decreases; quantity increasesE)price is unknown; quantity increases
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Categorize the scenarios as either a discretionary act or the result of automatic stabilizers.a. Economic growth increases personal and corporate income, increasing tax payments. b. A recession increases the number of recipients of unemployment benefits.c. Legislators increase tbc generosity of unemployment benefits. d. A law is enacted that increases government spending on health-care programs 1. Discretionary spending 2. Automatic stabilizers
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Feb 26- received $300 from a customer as a down payment on work to be undertaken on repairs to a cell. Is that unearned revenue.

Answers

If that work is done than it's revenue or if the work is going to happen in future then it's unearned revenue.

In the Month of March, Baldwin received orders of 113 units at a price of $15.00 for their product Bell. Baldwin uses the accrual method of accounting and offers 30 day credit terms. Baldwin delivers 113 units in April. They received payment for 57 units in March, and 57 units in April. In the March income statement, how much revenue is recognized on the March income statement from this order?

Answers

Answer:

Zero

Explanation:

Under the accrual method, revenue is recognized once the recognition criteria is met. These includes;

  • the goods have been delivered or the service rendered
  • the affiliated cost for such revenue can be reliably measured

When revenue is earned but cash is yet to be received,

Debit Accounts receivable

Credit Revenue account

When cash is received,

Debit Cash account  

Credit Accounts receivable.

Since the items were delivered in April, any amount received as revenue in March will be deferred. As such, no revenue will be recognized in the income statement for March.

When meeting someone from a different culture it is more useful to focus on ________, or central tendencies and patterns within a culture which recognize that there are variations of beliefs, behavior and values within that culture.a. prototype
b. stereotype
c. halo bias
d. fundamental attribution error

Answers

Answer:

Option A: Prototype

Explanation:

culture is basically the way of life of people in a place. It is a system of beliefs, values, and ways of life that are shared or common with(by) a group of people.migration in the world today has made people with different cultures to be intertwined. Understanding your cultures is good but to foster growth, peace and love wherever we are among other cultures and traditions, one must learn to understand other people cultures around is as it will help in building faith, love and peace. Cultural differences appear in a number of important areas, including nonverbal signals, gender. Religion and attitudes toward work and success.

Focus on the original, early model,/sample(prototype), central tendencies and patterns within a culture will help us to recognize that there are a lot of difference in the beliefs, behavior and values within that culture.

George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50, he sold only 4,000 T-shirts. Which of the following best approximates the price elasticity of demand? -2.2 -1.8 -2 -2.6 Suppose George's marginal cost is $5 per shirt. Before the price change, George's initial price markup over marginal cost was approximately . George's desired markup is . Since George's initial markup, or actual margin, was than his desired margin, raising the price was .

Answers

Answer: George's initial price markup over marginal cost was approximately 41.2% George's desired markup is 45% Since George's initial markup, or actual margin, was Less than his desired margin, raising the price was profitable

Explanation:

a) Price Elasticity of Demand = [(Q1-Q2)/(Q1+Q2)] / [(P1-P2)/(P1+P2)]

= 5000- 4000/4000+ 5000) /  8.50- 9.50 /8.50 ₊9.50 =

1000/8000 / -1/ 18 = 0.125/-0.055  = -2.2

George's initial price markup over marginal cost was approximately

when Marginal cost = $5

b)initial price markup  = Price - marginal cost / price = 8.50 - 5.00/ 8.50 =   0.412=  41.2%

C) George's  desired margin = 1/absolute value of price elasticity = 1/ 2.2= 0.45= 45%

.

D)Since George's initial markup or actual margin was less  than his desired margin, raising the price is profitable.

This is because When the  markup is lower than the margin,  business is running on a loss, so it is nessesary to increase price.

Final answer:

The price elasticity of demand for George's T-shirts is approximately -1.7, indicating that demand is elastic. The initial markup over the cost price was 70%, but the question doesn't specify the desired markup or if raising the price satisfied that margin.

Explanation:

The price elasticity of demand measures how sensitive the quantity demanded is to a price change. It's calculated as the percentage change in quantity demanded divided by the percentage change in price. In George's case:

  •  
  • Initial quantity: 5000 T-shirts
  •  
  • New quantity: 4000 T-shirts
  •  
  • Initial price: $8.50
  •  
  • New price: $9.50

So, the percentage change in quantity = (4000-5000)/5000 = -20% and percentage change in price = ($9.50-$8.50)/$8.50 = 11.76%. Therefore, price elasticity of demand = -20%/11.76% = -1.7 (approx.). This indicates that the demand is elastic, meaning quantity demanded is sensitive to price changes.

Regarding the price markup, this is the percentage increase over the cost price. The initial markup = ($8.50-$5)/$5 = 70%. The question didn't specify the desired markup, or if raising the price satisfied the desired margin.

Learn more about Price Elasticity of Demand here:

brainly.com/question/31452681

#SPJ3

An employee earns $32 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 60 hours during the week, and that the gross pay prior to the current week totaled $46,400. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $515. a. Determine the gross pay for the week. $ If applicable, round your final answer to two decimal places. b. Determine the net pay for the week. $

Answers

Answer:

a. Gross pay for the week = $2,240

b. net pay for the week = $683

Explanation:

a) gross pay for the week = total amount earned, before the deduction of taxes and other charges, it is calculated as follows:

amount earned per hour = $32

amount earned in excess of 40 hours = 1.5 × 32 = $48 per hour

Total hour worked = 60 hours

This means that in the first 40 hours, the employee earned 32$ per hour and $48 per hour for the next 20 hours

∴ amount earned in the first 40 hours = 32 × 40 = $1,280

amount earned in the next 20 hours = 48 × 20 = $960

∴ Gross pay for the week = 1,280 + 960 = $2,240

b) net pay for the week = Gross pay - (Total deductions)

Deductions are as follows:

social security tax rate = 6.0% of gross pay = 0.06 × 2,240 = $134.4

Medicare tax rate = 1.5% of gross pay = 0.015 × 2,240 = $33.6

Federal income tax = $515

Total deductions = 134.4 + 33.6 + 515 = $683

∴ Net pay for the week = 2,240 - 683 = $1,557

Your parents are giving you $205 a month for 4 years while you are in college. At an interest rate of .48 percent per month, what are these payments worth to you when you first start college

Answers

Answer:

$8,770.00

Explanation:

In this question we use the present value formula i.e shown in the attachment below:

Data provided in the question

Future value = $0

Rate of interest = 0.48%

NPER = 4 years × 12 months = 48 months

PMT = $205

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the answer would be $8,770.00
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