Answer:
the break-even point in dollars is $6,500,000
Explanation:
The computation of the break even point in dollars is shown below;
As we know that
Break even point in dollars is
= Fixed cost ÷ contribution margin ratio
Since the variable cost is 80%, so the contrbibution margin is 20% so that the total selling price would be 100%
now
= $1,300,000 ÷ 20%
= $6,500,000
Hence, the break-even point in dollars is $6,500,000
Answer:
Omitting.
Explanation:
To omit means to leave something out, or to fail to make use of something. It involves the removal of items that are not relevant for a particular purpose. For example is a business is reporting financial performance it may decide to omit details of a sports competition it hosted, because this information is not relevant.
Isabel segregates mails into those that are vital for her day-to-day tasks and those mails that are of little importance. She redirects mails of no significance to a junk folder.
She is omitting irrelevant mails.
The process of translating ideas into words that will convey meaning is referred to as _______.
The ______ is the medium over which a message is transmitted.
Answer:
The correct words for the blank spaces are: decoding; channel.
Explanation:
Decoding refers to the action in which the receiver of a message interprets the meaning of the message that the sender transmits. The opposite process of decoding is the encoding in which the meaning is translated into words to create a new message.
The message is sent through a channel that can take different forms such as the phone, television, radio, newspapers, magazines, letters, or social media, to mention a few.
In the realm of communication, the process that involves turning ideas into words to communicate meaning is called encoding, whereas the medium or tool used to carry or transmit the message is called the channel.
The process of translating ideas into words that will convey meaning is referred to as encoding. The channel is the medium over which a message is transmitted. In the field of communication, encoding happens when the sender translates his or her idea into a language or signal that the receiver can understand.
The channel, on the other hand, is the medium or tool used to transmit the message, such as a letter, a telephone call, a speech, or an email.
#SPJ3
Answer:
Increase in profit $ 1900
Explanation:
To determine the additional profit from the special order, we would consider only the costs and revenue relevant to the special order decision:
Unit relevant cost = Total variable cost/Units produced
Total variable costs = 86,000 + 12,000 =$98000
Unit relevant cost = 98,000/8,000 = $12.25
Note that fixed costs are irrelevant, whether or not the special order is accepted the fixed manufacturing and administrative expenses would be incurred. Hence, they are excluded from the computation.
$
Revenue from the special order ( $14× 2,000) = 28,000
Relevant costs of special order ( $12.25× 2,000) (24,500)
Cost of special tools (1,600)
Increase in profit 1900
Answer:
Explanation:
Bank reconciliation is practice of reconciling the bank account balance in a company's book to the balance reported by the bank i order to discover and correct any discrepancy
Workings
Bank reconciliation for Nolan for the month of June
Bank statement balance 28,152
Add bank deposit 3,853 3853
32,005
Less outstanding check (2801) (2801)
29,204
Cash book balance 29,193
Add back error in check (89-80) 9
Interest Earned 34 43
29,236
Less bank charges 32 (32)
29,204
Debit Credit
Cash $2,523
Supplies 2,600
Prepaid Insurance 1,800
Land 15,023
Buildings 67,600
Equipment 16,800
Accounts Payable $4,723
Unearned Rent Revenue 3,300
Mortgage Payable 33,600
Common Stock 60,023
Rent Revenue 9,000
Salaries and Wages Expense 3,000
Utilities Expense 800
Advertising Expense 500
$110,646 $110,646
Other data:
1. Insurance expires at the rate of $450 per month.
2. A count of supplies shows $1,140 of unused supplies on May 31.
3. (a) Annual depreciation is $2,880 on the building.
(b) Annual depreciation is $2,280 on equipment.
4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.)
5. Unearned rent of $2,510 has been earned.
6. Salaries of $880 are accrued and unpaid at May 31.
Required:
Journalize the adjusting entries on May 31.
Answer:
1. Insurance expires at the rate of $450 per month.
Dr Insurance expense 450
Cr Prepaid insurance 450
2. A count of supplies shows $1,140 of unused supplies on May 31.
Dr Supplies expense 1,460
Cr Supplies 1,460
3. (a) Annual depreciation is $2,880 on the building.
Dr Depreciation expense 240
Cr Accumulated depreciation, building 240
(b) Annual depreciation is $2,280 on equipment.
Dr Depreciation expense 240
Cr Accumulated depreciation, equipment 190
4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.)
Dr Interest expense 168
Cr Interest payable 168
5. Unearned rent of $2,510 has been earned.
Dr unearned revenue 2,510
Cr Rent revenue 2,510
6. Salaries of $880 are accrued and unpaid at May 31.
Dr Wages expense 880
Cr Wages payable 880