A revenue account is increased by debits. is decreased by credits. has a normal balance of a debit. is increased by credits.

Answers

Answer 1

Answer: is increased by credits

Explanation:

Revenue accounts are increased by credits because they are an equity account and equity accounts increase by credit. This is because the corresponding entry would be an asset such as cash and as the asset has to increase by being debited, revenue must be increased by credit.

Other accounts that are increased by credit include liabilities. Accounts that increase by debits apart from assets include purchases and expenses.


Related Questions

g The company is deciding whether to drop product line Apple because it has an operating loss. Assuming fixed costs are unavoidable, if Berry Pie Inc. drops product line Apple and rents the space formerly used to produce product Apple for $20,000 per year, total operating income will be ________.

Answers

Fruit Pie Inc. has three product lines—Strawberry, Cherry, and Apple. The following information is available:

                                         Strawberry     Cherry       Apple

Sales revenue                   $70,000​    $60,000​    $31,000​

Variable costs                    (20,000)     (15,000)     (11,000)

Contribution margin         $50,000​   $45,000​   $20,000

Fixed costs                        (20,000)       (5000)   (25,000)

Operating income (loss)  $30,000​  $40,000​      $(5000)

The company is deciding whether to drop product line Apple because it has an operating loss. Assuming fixed costs are unavoidable, if Berry Pie Inc. drops product line Apple and rents the space formerly used to produce product Apple for $20,000 per year, total operating income will be ________.

Group of answer choices

$25,000

$65,000

$11,000

$20,000

Answer:

Fruit Pie Inc.

Assuming fixed costs are unavoidable, if Berry Pie Inc. drops product line Apple and rents the space formerly used to produce product Apple for $20,000 per year, total operating income will be ________.

= $65,000.

Explanation:

a) Data and Calculations:

                                        Strawberry     Cherry       Apple

Sales revenue                   $70,000​    $60,000​    $31,000​

Variable costs                    (20,000)     (15,000)     (11,000)

Contribution margin         $50,000​   $45,000​   $20,000

Fixed costs                        (20,000)       (5000)   (25,000)

Operating income (loss)  $30,000​  $40,000​      $(5000)

Income Statement after the Elimination of Apple:

                                        Strawberry     Cherry    Total

Sales revenue                   $70,000​    $60,000​  $130,000

Variable costs                    (20,000)     (15,000)    (35,000)

Contribution margin         $50,000​   $45,000​    $95,000

Fixed costs                        (20,000)       (5000)    (25,000)

Fixed costs (Apple's)                                             (25,000)

Rent income                                                           20,000

Operating income (loss)  $30,000​   $40,000​)  $65,000

You own a portfolio equally invested in a risk-free asset and two stocks (If one of the stocks has a beta of 1 and the total portfolio is equally as risky as the market, what must the beta be for the other stock in your portfolio

Answers

Answer:

2

Explanation:

Beta measures systemic risk

The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors

The market has a beta of one. If a portfolio has the same level of systematic risk that is the same as that of the market, its beta would be equal to 1.  

If the portfolio is less risky than the market, its beta would be less than one  

If the portfolio is more risky than the market, its beta would be greater than one

The beta of a risk free asset is zero

The portfolio's beta can be determined by adding together the weighted beta of each stock in the portfolio

1 = (1/3 x 1) + (1/3 x 0) + (1/3 x s)

1 =  1/3 + (1/3 x s)

1 - 1/3 = 1/3s

2/3 = 1/3s

s = 2/3 x 3 = 2

Define the advantages that the law affords affords to business corporations. In view of the many advantages that the law affords affords to business corporations, what additional responsibilities or obligations if any should a business corporation have to the public. If you were advising a client on picking a business form explain why a corporation would be a good choice. Also explain why a corporation would be a bad choice.

Answers

The following are the benefits that the law provides to business corporations:

Personal property protection- because the proprietors will have limited accountability for the debts of the company and commitments, lenders will not go for their property funds if the firm cannot give them the money.It is simple to obtain funds by selling stock, allowing the firm to develop by acquiring additional investors.

The following are extra responsibilities that a business entity has to the public:

The business company is required to practise Corporate Responsibility, often referred as CSR, which is defined as the public's legal, moral, or political demand of a corporate enterprise. This indicates that the organisation will engage in certain ethical, moral, and charitable actions to assist better the lives of the people in the communities where they operate.

This can take the shape of building roads, clinics, schools, bridges, planting trees, or any other operation that benefits society but does not generate a return for the business.

Learn more:

https://brainly.com/question/19793205?referrer=searchResults

BPO Services is in the business of digitizing information from forms that are filled out by hand. In 2006, a big client gave BPO a distribution of the forms that it digitized in house last year, and BPO estimated how much it would cost to digitize each form.

Form Type Mix of Forms Form Cost
A 0.2 $0.40
B 0.2 $0.20
C 0.2 $0.20
D 0.2 $0.80
E 0.2 $0.40

a. The expected cost of digitizing a form is $_______ .
b. Suppose that after the agreement, the client sends an equal mix of forms of types D and E only. The expected digitization cost per form of the forms sent by the client is $________ . This leads to an expected loss of $_______ per form for BPO.

Answers

the answer is probably 01846572’

Milltown Company specializes in selling used cars. During the month, the dealership sold 32 cars at an average price of $16,000 each. The budget for the month was to sell 30 cars at an average price of $17,000. Compute the dealership's sales price variance for the month.

Answers

Answer:

-$32,000

Explanation:

The sales price variance is a measure used determine the difference between an entity's expected price of a product or service and its actual sales price. It may be favorable or unfavourable to the company and may be calculated as

Sales price variance =  Actual quantity sold * (actual selling price - budgeted selling price)

Hence given that  the dealership sold 32 cars at an average price of $16,000 each while the budget was to sell 30 cars at an average price of $17,000,

Sales price variance = 32 ($16,000 - $17,000)

= -$32,000

The minus indicates unfavourable sales price variance

Read the opening story about Dunkin Donuts and identify at least three types of marketing research that Dunkin used. Fully explain if it is qualitative or quantitative research?

Answers

Answer:

Dunkin Donuts has always tried to maintain its currents customers and attract potential customer through their marketing strategies. Since the company has limited products to offer it has to be very keen on their marketing strategies to make their product successful. The company uses undifferentiated target marketing strategies so that its simple menu is available globally.

Explanation:

The old name of Dunkin Donuts was Open kettle. The company mainly focused on Donuts and Coffee. It has simple yet attractive menu since it specializes in Donuts and none of the competitors have been successful till date to offer Donuts with exact taste like Dunkin Donuts. The company struggles to promote its brand globally. The company has been successful to serve its customers in 40+ countries.

Altoon Manufacturing's records were partially destroyed in a flood. The company does not know what sales have been for the year, but it does know all sales were on account. Also, the beginning accounts receivable balance was $19,000, and its accounts receivable balance at the time of the flood was $25,000. From the beginning of the year until the flood, cash collections from credit customers were $158,000. Given this information, what are Altoon Manufacturing's sales for the year until the flood?
a. $164,000
b. $114,000
c. $202,000
d. $209,000
e. $189,000

Answers

Answer:

a. $164,000

Explanation:

The computation of the Altoon Manufacturing's sales for the year until the flood is given below:

= Cash collections + ending receivables - opening receivables

= $158,000 + $25,000 - $19,000

= $164,000

hence, the Altoon Manufacturing's sales for the year until the flood is $164,000

Therefore the first option is correct

a. Balance according to the bank statement at December 31, $283,000.b. Balance according to the ledger at December 31, $245,410.c. Checks outstanding at December 31, $68,540.d. Deposit in transit, not recorded by bank, $29,500.

Answers

Answer and Explanation:

The preparation of the bank reconciliation statement is presented below:

Balance as per bank statement as on Dec 31 $2,83,000.00

Add: Deposit in transit  $29,500.00  

less: cheques outstanding  $68,540.00

Adjusted Balance as on 31st December  $2,43,960.00

Balance as per Ledger as on Dec 31  $2,45,410.00

Less: Bank debit memo for service charges 750  

less: payment of invoice wrongly recorded 700  

Adjusted Balance as per 31st December  $ 2,43,960.00

Camper's Edge Factory produces two products: canopies and tents. The total factory overhead is budgeted at $750,000 for the year, divided between two departments ----Cutting, $350,000, and Sewing, $400,000. Each canopy requires 2 direct labor hours in Cutting and 1 direct labor hour in Sewing. Each tent requires 1 direct labor hour in Cutting and 6 direct labor hours in Sewing. Production for the year is budgeted for 20,000 canopies and 10,000 tents.

Required:
a. Determine the total number of budgeted direct labor hours for the year in each department.
b. Determine the factory overhead allocated per unit of each product using the department factory overhead allocation rates using direct labor hours as the base.

Answers

Answer:

Camper's Edge Factory

Departments                                  Cutting             Sewing

a. The total number of budgeted

   direct labor hours for the year  60,000            70,000

b. Products                                     Canopy          Tent

   Factory overhead per unit         $17.50            $40

Explanation:

a) Data and Calculations:

Total budgeted factory overhead = $750,000

                                               Canopy        Tent     Total

Direct labor hours  

Cutting                                       2                     1         3

Sewing                                       1                     6         7

Total direct labor hours            3                    7

Budgeted production units 20,000          10,000

Departments                              Cutting                        Sewing

Budgeted factory overhead  $350,000                     $400,000

Direct labor hours:

Canopy                                  40,000 (20,000 * 2)          10,000 (10,000 * 1)

Tent                                       20,000 (20,000 * 1)          60,000 (10,000 * 6)

Total direct labor hours        60,000                              70,000

Overhead allocation rates     $5.833                               $5.714

                         ($350,000/60,000)                              ($400,000/70,000)

Overhead per unit              $17.50 ($5.833 * 3)            $40 ($5.714 * 7)

               

503,000 on November 1, 2021, and signed a 12-month note bearing interest at 8%. Interest is payable in full at maturity on October 31, 2022. In connection with this note, Universal Travel Inc. should report interest payable at December 31, 2021, in the amount of

Answers

Answer:

$6,707

Explanation:

Calculation to determine what Universal Travel Inc. should report interest payable at December 31, 2021,

Interest payable at Dec 31,2021= 503,000 * 8% * 2 months/12 months

Interest payable at Dec 31,2021= $6706.6

Interest payable at Dec 31,2021= $6707 Approximately)

(November 1 - December 31 = 2 months)

Therefore Universal Travel Inc. should report interest payable at December 31, 2021, in the amount of $6,707

Duval Co. issues four-year bonds with a $100,000 par value
on January 1, 2019, at a price of $95,952. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31.
1. Prepare a straight-line amortization table like Exhibit 14.7 for these bonds.
2. Prepare journal entries to record the first two interest payments.
3. Prepare the journal entry for maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded).

Answers

Answer:

Duval Co.

Journal Entries to record the first two interest payments:

June 30, 2019:

Debit Interest expense $4,006

Credit Cash payment $3,500

Credit Amortization of discounts $506

To record the first interest payment.

December 31, 2019:

Debit Interest expense $4,006

Credit Cash payment $3,500

Credit Amortization of discounts $506

To record the second interest payment.

December 31, 2022:

Debit Bonds Payable $100,000

Credit Cash $100,000

To record the payment on maturity of the bonds.

Explanation:

a) Data and Calculations:

Face value of bonds = $100,000

Price of the bonds = $95,952

Discounts =                $4,048

Period of bonds = 4 years

Coupon rate = 7%

Semi-annual amortization of discounts = $506 ($4,048/8)

June 30:

Cash payment = $3,500 ($100,000 * 3.5%)

Amortization of discounts $506

Interest expense = $4,006

December 31:

Cash payment = $3,500 ($100,000 * 3.5%)

Amortization of discounts $506

Interest expense = $4,006

State for each account whether it is likely to have (a) debit entries only, (b) credit entries only, or (c) both debit and credit entries when recording business transactions during the month. Also, indicate the normal balance of each account. 1. Fees Earned , normal balance 2. Utilities Expense , normal balance 3. Accounts Payable , normal balance 4. Supplies , normal balance 5. Cash , normal balance 6. Accounts Receivable , normal balance

Answers

Answer:

No. Account Type                                                 Likely account entries

1. Fees Earned , normal balance is credit          (b) Credit entries only

2. Utilities Expense , normal balance is debit     (a) Debit entries only

3. Accounts Payable , normal balance is credit  (c) both debit and credit entries

4. Supplies , normal balance is debit                  (c) both debit and credit entries

5. Cash , normal balance is debit                       (c) both debit and credit entries

6. Accounts Receivable , normal balance is debit (c) both debit and credit entries

Explanation:

Accounts that normally have debit entries include assets (both long-term and current), expenses, and losses.  Accounts that normally have credit entries are liabilities, equity, revenue, income or gains.  Most accounts have debit and credit entries before their normal balances are indicated. The accounts with debit entries are mainly expenses and losses, while revenues and income have mainly credit entries.

Question 4 of 15. Barney and Len each own 40% of partnership BLT. On September 15, 2019, Barney sells his interest to Ted, who is a 20% partner. On September 16, 2020, Len sells his interest to Ted. When does the partnership terminate? 9/15/2020 9/16/2020 12/31/2020 The partnership does not terminate.

Answers

Answer: 9/16/2020

Explanation:

Following the information given in the question, it should be noted that the partnership will terminate on 9/16/2020.

A partnership is terminated in a situation whereby there's a transfer of interest such that there's only one partner who then remains. In this casez the termination date will be the date that the interest was sold. Since the sale of interest took place on September 16, 2020, then this will be the termination date.

Jasper Company has sales on account and for cash. Specifically, 61% of its sales are on account and 39% are for cash. Credit sales are collected in full in the month following the sale. The company forecasts sales of $523,000 for April, $533,000 for May, and $558,000 for June. The beginning balance of Accounts Receivable is $304,200 on April 1. Prepare a schedule of budgeted cash receipts for April, May, and June.

Answers

Answer:

Jasper Company

Budgeted CAsh Receipts:

                                       April               May               June

Cash sales (39%)     $203,970       $207,870       $217,620

Cash collections        304,200         360,870         325,130

Total cash receipts  $508,170       $568,740      $542,750

Explanation:

a) Data and Calculations:

                                       April               May               June

Forecast sales         $523,000      $533,000      $558,000

Cash sales (39%)       203,970         207,870         217,620

Credit sales (61%)      360,870          325,130        340,380

Cash collections       304,200          360,870        325,130

Budgeted CAsh Receipts:

                                       April               May               June

Cash sales (39%)     $203,970       $207,870       $217,620

Cash collections        304,200         360,870         325,130

Total cash receipts  $508,170       $568,740      $542,750

Help ASAP Please! Accounting class! Lorge Corporation has collected the following information after its first year of sales. Sales were $1,575,000 on 105,000 units; selling expenses $250,000 (40% variable and 60% fixed); direct materials $606,100; direct labor $250,000; administrative expenses $270,000 (20% variable and 80% fixed); and manufacturing overhead $357,000 (70% variable and 30% fixed). Top management has asked you to do a CVP analysis so that it can make plans for the coming year. It has projected that unit sales will increase by 10% next year.
(See screenshots)

Answers

Answer:

Lorge Corporation

Contribution margin for the current year

= $315,000 ($3 per unit)

Contribution margin for the proposed year = $346,500

Fixed costs for the current year = $473,100

Break-even units = 157,700 units

Break-even sales dollars = $2,365,500

Explanation:

a) Data and Calculations:

Sales revenue = $1,575,000  

Sales units = 105,000 units

Sales price per unit = $15 ($1,575,000/105,000)

                                                  Total        Variable               Fixed

Selling expenses =            $250,000     $100,000 (40%)   $150,000 (60%)

Direct materials                  $606,100       606,100

Direct labor                       $250,000       250,000

Administrative expenses $270,000          54,000 (20%)    216,000 (80%)

Manufacturing overhead $357,000       249,900 (70%)      107,100 (30%)

Total costs                       $1,733,100  $1,260,000              $473,100

Contribution margin for the current year = $315,000 ($1,575,000 - $1,260,000)

= $3 per unit

Unit sales = 115,500 (105,000 * 1.1)

Sales revenue = $1,732,500

Variable costs      1,386,000 ($15 - $3)

Contribution margin for the proposed year = $346,500 ($3 * 115,500)

Fixed costs for the current year = $473,100

Break-even units = $473,100/$3 = 157,700 units

Break-even sales dollars = $473,100/0.2 = $2,365,500

Cavern Company's output for the current period results in a $6,400 unfavorable direct material price variance. The actual price per pound is $62.00 and the standard price per pound is $60.00. How many pounds of material are used in the current period

Answers

Answer:

3,200 unit

Explanation:

Direct materials price variance = Quantity used * (Standard price - Actual price)

-$6,400 = Quantity used * ($60.00 - $62.00)

-$6,400 = Quantity used * -$2.00

Quantity used = -$6,400/-$2.00

Quantity used = 3,200 unit

So, the quantity of pounds of material used in the current period is 3,200 unit

XZYY, Inc. currently has an issue of bonds outstanding that will mature in 16 years. The bonds have a face value of $1,000 and a stated annual coupon rate of 13.0% with annual coupon payments. The bond is currently selling for $1,176. The bonds may be called in 3 years for 113.0% of the par value. What is your expected quoted annual rate of return if you buy the bonds and hold them until maturity

Answers

Answer: 10.66%

Explanation:

The expected quoted annual rate of return when the bonds are bought and being held until maturity will be calculated thus:

Coupon payment = 1000 × 13% = 130

The Yield to Maturity formula will be:

= Rate(maturity period, coupon payment, -price, fave value)

= Rate(16, 130, -1176, 1000)

Yield to Maturity = 10.66%

Therefore, the expected quoted annual rate of return is 10.66%.

Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Schell has a total of $25,740 in overhead. It currently uses a traditional cost system with overhead applied to the product on the basis of either labor hours or machine hours. Schell has compiled the following information about possible cost drivers and its two product lines:

Schell Company Total Quantity/Amount Consumed by Standard Floor Mat Line Quantity/Amount Consumed by Deluxe Floor Mat Line
1,170 labor hours 740 labor hours 430 labor hours
7,000 machine hours 2,900 machine hours 4,100 machine hours

Required:
a. Suppose Schell uses a traditional costing system with direct labor hours as the cost driver. Determine the amount of overhead assigned to each product line.
b. Suppose Schell uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line.

Answers

Answer:

Schell Company

Overhead assigned:             Standard   Deluxe

a. Based on Labor hours      $16,280    $9,460

b. Based on Machine hours $10,663   $15,076

Explanation:

a) Data and Calculations:

Total overhead = $25,740

                           Total   Standard    Deluxe  Overhead Rate

Labor hours        1,170          740          430           $22 ($25,740/1,170)

Machine hours 7,000      2,900        4,100            $3.677 ($25,740/7,000)

Overhead assigned:             Standard   Deluxe

a. Based on Labor hours      $16,280    $9,460

                                         ($22 * 740)   ($22 * 430)

b. Based on Machine hours $10,663   $15,076

                                ($3.677 * 2,900)   ($3.677 * 4,100)

Blackwell, Inc. has a $125,000 liability it must pay five years from today. The company is opening a savings account so that the entire amount will be available when this debt needs to be paid. The plan is to make an initial deposit today and then deposit an additional $30,000 each year for the next three years, starting one year from today. The account pays a 5 percent rate of return. How much does the firm need to deposit today

Answers

Answer:

Initial investment= $23,838.78

Explanation:

Giving the following information:

Future Value (FV)= $125,000

Number of periods (n)= 5

Interest rate (i)= 5%

First, we need to calculate the future value of the three deposits using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {30,000*[(1.05^3) - 1]} / 0.05

FV= $94,575

Difference= 125,000 - 94,575= $30,425

Now, the initial investment today:

FV= PV*(1 + i)^n

Isolating PV:

PV= FV / (1 + i)^n

PV= 30,425 / (1.05^5)

PV= $23,838.78

Roger is hired by an international HR consulting firm as its Outplacement Counselor. Prior to receiving extensive training on the company's copyrighted techniques and programs, Roger is asked to agree in his employment contract that he will not work as a trainer for a rival outplacement company in a specified list of states for a period of one year from the time he quits or his employment will be terminated. This best exemplifies a _____. Group of answer choices

Answers

Answer: noncompeted clause

Explanation:

A non-compete agreement simply refers to the legal agreement which specifies that an employee of a particular company must not enter into competition with the employer when the employee doesn't.woek with the company anymore or when the employment period is over.

According to the non-compete agreement, the employee is also prohibited from revealing secrets or proprietary information or secrets to other parties.

In a responsive culture, _____. management does not expect the employees to challenge or change the status quo. employees feel free to make recommendations to management to change existing practices. management tends to be inward-looking and politically motivated. good ideas do not get communicated upward because management is not very approachable.

Answers

In a responsive culture, 'management does not expect the employees to challenge or change the status quo.'

Responsive culture in an organization conveys that it aims to give importance to the needs, and preferences of its customers and adapting to them accordingly. The employees, therefore, are not expected to show defiance against the current circumstances or requirements. They are rather expected to adapt to the present circumstances and serve their customers with the best of their abilities and cater to their demands effectively and efficiently.

Learn more about 'Business culture' here:

brainly.com/question/14965381

Locus Company has total fixed costs of $112,000. Its product sells for $35 per unit and variable costs amount to $25 per unit. Next year Locus Company wishes to earn a pretax income that equals 10% of fixed costs. How many units must be sold to achieve this target income level?
A.1,120.
B. 8,214.
C.11,200.
D.12,320.
E.14,080.

Answers

Answer:

D.12,320.

Explanation:

The computation of the number of units to be sold for attaining the target income level is given below:

Target profit

= 10% of fixed cost

= 10% of 112,000

= 11200

Now  

Sales needed = (Fixed costs +target profit) ÷ unit contribution margin

= (112,000+11,200) ÷ (35-25)

= 123,200 ÷ 10

= 12,320 units

. If the Federal Reserve raises interest rates in an autonomous tightening ________. A) the MP curve shifts up, there is an upward movement along the IS curve, and the AD curve shifts to the left to a lower level of equilibrium output B) the MP curve shifts down, there is a downward movement along the IS curve and the AD curve shifts to the right to a higher level of equilibrium output C) the MP curve shifts up, there is a downward movement along the IS curve and the AD curve shifts to the right to a lower level of equilibrium output D) the MP curve shifts down, there is an upward movement along the IS curve and the AD curve shifts to the left to a higher level of equilibrium output

Answers

Answer:

A the MP curve shift up ,there is an upward movement along the IS curve

From the theoretical research on commodity economics and the market, please suggest the necessary solutions for investors to stand firm in the market? Why?

Answers

Answer:

23

Explanation:

Provo, Inc., had revenues of $10 million, cash operating expenses of $5 million, and depreciation and amortization of $1 million during 2008. The firm purchased $500,000 of equipment during the year while increasing its inventory by $300,000 (with no corresponding increase in current liabilities). The marginal tax rate for Provo is 40 percent. Free cash flow: What is Provo's free cash flow for 2008

Answers

Provo's free cash flow for 2008 is $2,600,000

              Income Statement

Revenue                        $10,000,000

Operating expenses   - $5,000,000

Depreciation               -  $1,000,000

EBIT                                $4,000,000

Interest expenses        - $0

Taxes                            - $1,600,000    (40% * $4,000,000)

Net Income                     $2,400,000

Depreciation                  +$1,000,000

Operating cash flow      $3,400,000

Free cash flow = Operating Cash flow - Purchase of equipment - Increase in Inventory

Free cash flow = $3,400,000 - $500,000 - $300,000

Free cash flow = $2,600,000

See related question on this here https://brainly.com/question/10705084

An educational software company wants to compare the effectiveness of teaching about supply and demand curves between computer animation presentations and textbook presentation. The company tests the economic knowledge of a number of first-year college students, then randomly divides them into two groups. One group uses the animation and the other studies the text. The company retests all the students and compares the increase in economic understanding between the two groups. Is the study described above an experiment? Why or why not?

Answers

Answer:

Yes, this is often an experiment. the corporate assigned students to either the animation or the text, instead of watching post hoc ergo propter hoc data.

Explanation:  

The explanatory variables are the pre-test data and therefore the assignment to a given group. The responding variable is that the post-test data.

When Joe maximizes utility, he finds that his MRS of X for Y is greater than Px/Py. It is most likely that: Group of answer choices Joe is not consuming good X. Joe's preferences are incomplete. Joe's preferences are irrational. Joe is not consuming good Y.

Answers

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Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Boston Railroad is a measure of railroad operating activity, termed "gross-ton miles," which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January $1,454,100 323,000 February 1,621,300 361,000 March 1,145,800 234,000 April 1,554,400 350,000 May 1,303,700 281,000 June 1,671,400 380,000 Determine the variable cost per gross-ton mile and the fixed cost. Variable cost (Round to two decimal places.) $fill in the blank 1 per gross-ton mile Total fixed cost $fill in the blank 2

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Transportation Costs Gross-Ton Miles

January $1,454,100 323,000

February 1,621,300 361,000

March 1,145,800 234,000

April 1,554,400 350,000

May 1,303,700 281,000

June 1,671,400 380,000

To calculate the variable and fixed cost under the high-low method, we need to use the following formulas:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (1,671,400 - 1,145,800) / (380,000 - 234,000)

Variable cost per unit= $3.6

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 1,671,400 - (3.6*380,000)

Fixed costs= $303,400

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 1,145,800 - (3.6*234,000)

Fixed costs= $303,400

Henry, a new human resources coordinator, has been asked to calculate the past month's turnover rate. He has divided the number of people who have left the company during that month (11) by the number of employees hired
(10), and then multiplied that by 100. But the number he
has come up with, 110 percent, is way too high and
doesn't make any sense. What should have Henry done
to avoid his error?


He should have multiplied the cost to
terminate by the cost per hire.

He should have multiplied by 10, not 100.

He should have divided the number of
employees hired by the cost to hire them.

He should have divided the number of people
who have left the company by the average
number of employees that month.

Answers

Answer:

he should have multiplied by 10, not 100

Explanation:

Each firm embraces objectives that management believes will make the firm more successful.

a. True
b. False

Answers

Answer:

a. True

Explanation:

Organizational objectives and goals are defined by strategic planning, which is a document that contains the organizational mission and values, as well as the action plans that the company must implement over a period of time to achieve its objectives and goals and be a profitable company and competitive in the market.

Therefore, the administration of each company will define what are its market objectives that will make it more successful and positioned in the long term.

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