The amount to be recognized as net accounts receivable on the balance sheet as of November 30 is $2,750.
2/10, n/30 means that the buyer will eligible to take 2% Discount if he pays the invoice within 10 days and if buyer does not pay the amount within 10 days, then, the net amount is due within 30 days after sales invoice date.
Also, Lifetime receives orders from Tinley High School for $1,200 worth of custom. Therefore, nothing is sold and nothing is advance.
Therefore, Lifetime records will be recognized as Net accounts receivable on the balance sheet as of November:
= Sales - Sales Return
= $3,070 - $320
= $2,750
Therefore, the amount to be recognized as net accounts receivable on the balance sheet as of November 30 is $2,750.
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1. Describe a natural monopoly and use a graph to support your answer.
2 Describe the main characteristics of a monopolistically competitive market.
Answer:
i think Monopoly Market Characteristics
Explanation:
i think The characteristics of monopoly include: (1) one firm, (2) one product, and (3) no entry (Table 5.1). The monopoly solution is shown in Figure 5.2. Note that long-run profits can exist for a monopoly, since barriers to entry halt any potential entrants from joining the industry.
Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing, fishing, capture the flag, paintball, treasure hunts, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves More).
Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 4% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations.
Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $6,000 cash.
Feb. 25 Mr. Kendall’s Boy Scout troop participates in a one-day TEAM adventure. Normally, Tony would charge a group of this size $4,500, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $4,000. Great Adventures provides these services on account.
Feb. 28 The Boy Scout troop pays the full amount owed, less the 4% quick-payment discount.
Mar. 19 Reynold’s Management has its employees participate in a one-day TEAM adventure. Great Adventures provides services on account for $5,000, and Reynold’s agrees to pay within 30 days.
Mar. 27 Reynold’s pays the full amount owed, less the 4% quick-payment discount.
Apr. 7 Several men from the Elks Lodge decide to participate in a TEAM adventure. They pay $8,500, and the event is scheduled for the following week.
Apr. 14 The TEAM adventure is held for members of the Elks Lodge.
Apr. 30 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $7,000, and Myers agrees to pay within 30 days.
May 31 Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 7% note receivable to replace the existing account receivable.
Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for $29,000 to these groups, with payment due in July.
Required:
a. Record adjusting entry for uncollectible accounts.
b. Record the accrued interest revenue.
If on Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $6,000 cash. The adjusting entry for uncollectible accounts and the accrued interest revenue are:
a. The adjusting entry for uncollectible accounts are:
Jan. 24, 2022
Debit Equipment $6,000
Credit Cash $ 6,000
(To record purchase of equipment and other materials)
Feb. 25
Debit Account Receivable $4,000
Credit Service Revenue $4,000
(To record service revenue on account)
Feb. 28
Debit Cash $3,840
($4,000-$160)
Debit Cash Discount $160
(4%×$4,000)
Credit Account Receivable $4,000
(To record cash receipt and discount)
Mar. 19
Debit Account Receivable $5,000
Credit Service Revenue $5,000
(To record service provided on account)
Mar. 27
Debit Cash $4,800
($5,000-$200)
Debit Cash Discount $200
(4%×$5,000)
Credit Account Receivable $5,000
(To record cash receipt and discount allowed)
April 7
Debit Cash $8,500
Credit Unearned Service Revenue $8,500
(To record cash receipt for providing service in future)
April 14
Debit Unearned Service Revenue $8,500
Credit Service Revenue $8,500
(To record unearned revenue being earned)
April 30
Debit Account Receivable $7,000
Credit Service Revenue $7,000
(To record service provided on account)
May 31
Debit Note Receivable $7,000
Credit Account Receivable $7,000
(To record a 3 months, 7% Note Receivable)
Jun. 15
Debit Account Receivable $29,000
Credit Service Revenue $29,000
(To record service provided on account)
b. The journal entries to record the accrued interest revenue are:
Jun. 30
Debit Interest Receivable $40.83
Interest Revenue $40.83
($7,000×7%× 1/12)
(To record accrued interest for 1 month)
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Financial Calculations
Let's go through a series of calculations for Frank's cookie business.
First, let's determine how much Gross Profit he makes on each batch of cookies.
One batch is 24 cookies.
Frank starts by selling cookies for $1 each.
It costs Frank $10 in materials to make one batch of cookies (sugar, butter, chocolate chips, packaging, etc.)
What is the gross profit per batch of cookies?
Answer:
$14
Explanation:
24 each batch minus 10 is total profit
Bramble Corp. is planning to sell 200 buckets and produce 880 buckets during March. Each bucket requires 100 grams of plastic and one-half hour of direct labor. Plastic costs $ 10 per 100 grams and employees of the company are paid $ 18 per hour. Manufacturing overhead is applied at a rate of 110% of direct labor costs. Bramble has 1000 kilos of plastic in beginning inventory and wants to have 1000 kilos in ending inventory. How much is the total amount of budgeted direct labor for March
1. The text (page. 220-221) tells the story of Mr. Jones who sues Mr. Smith for taking his briefcase even though he loses a significant amount of money. It also tells the story of why Mr. Jones will make Mr. Smith an offer above the rational choice prediction if they are considering a joint venture where both must participate or the venture fails. Explain what is causing these deviations from rational choice theory and why some knowledge of the person you are dealing with is important. (20 points)
These deviations are likely to be caused by emotions and it is important to have information about the person you are dealing with to favor your interests and make the best decision.
The Rational Choice Theory states:
A person will always make decisions to favor himself or herselfDecisions are based on rational calculationsDespite this, individuals might make irrational decisions if:
Emotions External factorsIn the case of Mr. Jones, he makes an irrational decision because by suing Mr. Smith he loses more money. This is likely motivated by emotions such as a desire for justice or a desire to revenge.
Moreover, in this situation, it is shown Mr. Jones does not have enough information about the person he is dealing with (Mr. Smith) and this lack of knowledge does not allow him to make the best decision possible.
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Green Co. paid $28,400 in dividends and $29,571 in interest over the past year. During the year, net working capital increased from $13,986 to $18,719. The company purchased $44,200 in fixed assets and had a depreciation expense of $17,705. During the year, the company issued $25,500 in new equity and paid off $21,700 in long-term debt. What was the company's cash flow from assets
If Green Co. paid $28,400 in dividends and $29,571 in interest over the past year. During the year, net working capital increased from $13,986 to $18,719. During the year, the company issued $25,500 in new equity and paid off $21,700 in long-term debt. What the company's cash flow from assets will be is: $48,371
First step is to calculate the cash flow to creditor
Cash flow to creditors = $21,700 + $29,571
Cash flow to creditors = $51,271
Second step is to calculate the cash flow to Stockholders
Cash flow to Stockholders =$28,400 - $25,500
Cash flow to Stockholders =$2,900
Now let determine the cash flow from assets using this formula
Cash flow from assets = Cash flow to creditors + Cash flow to stockholders
Let plug in the formula
Cash flow from assets = $51,271 + $2,900
Cash flow from assets = $48,371
Inconclusion if Green Co. paid $28,400 in dividends and $29,571 in interest over the past year. During the year, net working capital increased from $13,986 to $18,719. During the year, the company issued $25,500 in new equity and paid off $21,700 in long-term debt. What the company's cash flow from assets will be is: $48,371
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Who were the individuals who met on Jekyll island to create the format for the federal reserve act of 1913
Answer:
Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip and Paul Warburg – met at the Jekyll Island Club, off the coast of Georgia, to write a plan to reform the nation's banking system.
Explanation:
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The people who met on Jekyll island to create the format for the Federal Reserve Act of 1913 were Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip and Paul Warburg.
What is the Federal Reserve Act?On December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act into law after the 63rd United States Congress enacted it. The bill established the Federal Reserve Institution, the United States' central banking system.
The Federal Reserve Act was created by Congress in order to maintain financial stability in the United States by establishing a central bank to manage monetary policy.
The format for the act of created by Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip and Paul Warburg in order to make the reforms in the banking system.
Therefore, it can be concluded that the Federal Reserve Act was meant to improve the banking system.
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For creating perception, companies make use of strategic tools like ___ _
a) Service contracts
b) O Sales calls
c) User training
d) Websites
The meaning of strategy and how the approach to strategy has changed over time.
The relationships and differences among corporate, business, and marketing strategy.
The concept and process of corporate strategic planning.
The role of the product in a marketing strategy and the many aspects of the product that can be used to tailor the strategy.
The role of customer choice in marketing strategy and the logic of choosing customers.
The role of market area choice in marketing strategy and ways to choose market areas.
Core competencies as part of marketing strategy.
The interrelationship among product, customer, market area, and core competency decisions.
The logical connections among strategies, structures, and functions as outlined in the Integrated Model of Marketing Planning (IMMP).
In a statement of approximately 75 words explain why the economic systems in countries with dictatorships or closed systems of government tend to be less prosperous and do not have healthy economic policies or markets.
The economy in countries with dictatorships or similar governments is often less prosperous because these countries usually have closed economy systems and this limits the profit from trading, the materials for manufacture, among others.
Most countries with authoritative governments such as dictatorial ones support closed economy systems, this means:
The country does not trade with others.There are no exportations and importations.All the good citizens buy are produced within the borders of the country.These characteristics have been found to have mainly a negative effect because:
The country cannot obtain profits from trading with others.Manufacture and products are limited by those found inside the nation.Economic crises are difficult to overcome due to a lack of resources or support from other nations.Learn more in: https://brainly.com/question/23353220
Discuss target market strategies. The target market strategy identifies which market segment or segments to focus on. This process begins with a market opportunity analysis (MOA), which describes and estimates the size and sales potential of market segments that are of interest to the firm. In addition, an assessment of key competitors in these market segments is performed. After the market segments are described, one or more may be targeted by the firm. The three strategies for selecting target markets are appealing to the entire market with one marketing mix, concentrating on one segment, or appealing to multiple market segments using multiple marketing mixes.
You are given the task of deciding the marketing strategy for a transportation company. How do the marketing mix elements change when the target market is (a) low-income workers without personal transportation, (b) corporate international business travelers, or (c) companies with urgent documents or perishable materials to be delivered to customers?
Answer:
you would determine the best way to ship perishables back and forth with the most financial advantages. you would need to know what purification would sell best to this group of income levels. what the needs for varies products most cost effective and needed that would also call for further purification need. you would want to tap into a reliable overnight delivery carrier that gives the lowest corporate incentives to use
You would figure out the most cost-effective approach to send perishables back and forth. You would need to be aware of the purification that would appeal to this range of income levels the most. What the needs are for various products, the most cost-effective ones, and whether further purification is required. You should select a trustworthy overnight delivery service that offers the fewest corporate incentives to do so.
What is market strategies?A marketing strategy is a long-term plan for attaining a business' objectives through an understanding of client needs and the development of a distinct and long-lasting competitive advantage. It includes everything, from choosing which channels to utilize to contact your customers to figuring out who they are.
Product, pricing, place, and promotion make up the four Ps. They serve as an illustration of a "marketing mix," or the collection of tools and techniques utilized by marketers to accomplish their marketing goals.
Thus, You would figure out the most cost-effective approach to send perishables back and forth.
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Em relação as Fontes de Financiamento, analise as seguintes afirmações:
I - As disponibilidades de recursos são peça-chave na análise de liquidez, ou de solvência de negócios de grande porte.
II - Cabe ao gestor financeiro, a responsabilidade de sempre procurar manter a empresa sólida financeiramente e líquida o suficiente face aos enormes desafios que as economias modernas exigem.
III - Muitas vezes, a liquidez exigirá da Alta Administração que a empresa lance mão de fontes de financiamento de forma a financiar a sua atividade por meio de capital próprio.
É correto o que se afirma em:
a.
II, apenas.
b.
II e III, apenas.
c.
III, apenas.
d.
I e II, apenas.
e.
I, apenas.
Answer:
A resposta é b) II E III APENAS
Explanation:
Explain 3 factors that change supply elasticity.
Answer:
There are numerous factors that impact the price elasticity of supply including the number of producers, spare capacity, ease of switching, ease of storage, length of production period, time period of training, factor mobility, and how costs react.
construct a quadriteral PQRS, given that QR=4.5cm PS=5.5cm,RScm5cm and diagonalPR=5.5cmand diagonal SQ=7cm
Answer:
The quadrilateral is drawn above
Acellus: into to accounting ?
sorry I don't know this question can you explain it
Define sociology? Types sociology?
Explanation:
Sociology is the study of social change, social life, and the social causes and effects of human behavior.
The two major types of sociology that were joined are qualitative and quantitative. Quantitative has to do with how much/ numbers while qualitative has to do with first hand research like interviews etc.
Your job right now is to finish reading chapter 14. How strongly would you be motivated to do that if you were sweating in a room at 105 degrees Fahrenheit? Imagine your roommate has turned on the air-conditioning. Once you are more comfortable, are you more likely to read? Look at Maslow's hierarchy of needs to see what needs would be motivating you at both times. Now recall a situation in your home, school, or work life in which you were feeling particularly motivated to do something. Which of the needs identified by Maslow motivated you then? (Required at least 300 words).Original Post due by Friday 10/29/2021 (50% of the grade)
Answer:
we're is the picture of the questions
how can fiscal policy solve bankruptcy
Answer: gambleing
Explanation: it workds :)
Recently, the Merrimac Insurance Company, which is lo- cated in Hartford, Connecticut, completed several cost analysis studies and found an alarming increase in the cost of processing insurance claims. Merrimac's rates are about 15 percent higher than the national average. A recent study completed by several systems analysis experts indicated that much of the cost can be attributed to inefficient work flow. Part-time employ- ees are frequently hired to help process the backlog. The following outlines the steps involved in pro- cessing the claims: 1. The claim is received in the mailroom
Answer:
Explanatidsadsaon:
dsadsadsadsa
One of the fine examples of frugal innovation is the the world’s cheapest car Tata Nano, for which Tata has most likely done __________ segmentation.
Answer:
What is market segmentation
Explanation:
One of the fine examples of frugal innovation is the the world’s cheapest car Tata Nano, for which Tata has most likely done market segmentation.
At its core, market segmentation is the practice of dividing your target market into approachable groups. Market segmentation creates subsets of a market based on demographics, needs, priorities, common interests, and other psychographic or behavioral criteria used to better understand the target audience.
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Brainly, thank yous, ratings are always appreciated : ) Miss Hawaii
WellWheats, Inc. produces breakfast cereal and sells each box, or unit, for $7. The company has forecast production for the next three months as follows: July 5,000 units, August 6,000 units, September 3,500 units. Monthly manufacturing overhead is budgeted to be $20,000 plus $5 per unit produced. What is budgeted manufacturing overhead for July
Based on the information the budgeted manufacturing overhead for July is $45,000.
WellWheats, Inc. Budgeted Manufacturing Overhead for the month of July
Monthly Manufacturing Overhead $20,000
Additional manufacturing costs $25,000
(5,000 units x $5 per unit produced)
Total Budgeted Manufacturing Overhead for July $45,000
($20,000+$45,000)
Inconclusion the budgeted manufacturing overhead for July is $45,000.
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metode wat gebruik word om inligting te versamel
Answer:
what
Explanation:
I can't understand sorry
What is the economics
Red Sun Rising just paid a dividend of $2.58 per share. The company said that it will increase the dividend by 20 percent and 15 over the next two years, respectively. After that, the company is expected to increase its annual dividend at 3.6 percent. If the required return is 12 percent, what is the stock price today
Assuming the required return is 12 percent, the stock price today is $40.61.
Given:
Dividend=$2.58 per share
Increase in Dividend=20% and 15%
Number of year=2 years
Increase in Annual Dividend=3.6%
Required return=12%
P2=Stock price today
Now let calculate the stock price today
P2 = [$2.58(1+0.20)]/(1+.12) + [$2.58(1+.20)(1+.15)]/(1+.12)^2 + {[$2.58(1+.20)(1+.15)(1+.036)]/(0.12 − 0.036)}/(1+.12)^2
P2 = [$2.58(1.20)]/1.12 + [$2.58(1.20)(1.15)]/1.12^2 + {[$2.58(1.20)(1.15)(1.036)]/(0.12 − 0.036)}/1.12^2
P2=($3.096/1.12)+ ($3.5604/1.2544)+ [($3.68857/0.084)/1.2544]
P2=$2.7643+$2.838329+($43.91155/1.2544)
P2=$2.7643+$2.838329+$35.0060
P2=$40.61
Inconclusion assuming the required return is 12 percent, the stock price today is $40.61.
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There are four steps in solving one's personal financial challenges:
1. considering opportunity costs
2. assessing risks and returns
3. setting short- and long-term goals
4. assessing needs and wants
Which of these is the correct order of these steps?
2, 1, 3, 4
1, 2, 3, 4
4, 1, 2, 3
4, 2, 3,1
Lucas is the secretary of defense for the united states. He oversees military operations throughout the world. Lucas's position is part of the _ _ _ _ _ government
national
state
local
foreign
Answer:
This guy is a liar it's not local, it's national
Explanation:
National government represents the whole world not just a state or local is like schools and parks working for this kind of things is local government national government is different.
Lucas is the secretary of defense for the United States. He oversees military operations throughout the world. Lucas's position is part of the national government. Hence, option A is correct.
What is national government?The national government of a country is its executive branch. A nation is said to have a national government, or the central government in a unitary state, if it does not give significant power to regional divisions. A government is in charge of running the armed forces, foreign policy, the economy, and public services in addition to defining and enforcing social norms.
The national executive, or cabinet, is led by the President, who also serves as head of state. He or she is entrusted with promoting the nation's unity and interests while respecting the supremacy of the Constitution as the country's top legislation.
Thus, option A is correct.
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In your initial post, first you will introduce yourself to your peers. Along with your introduction, share your career goals, such as the type of company you hope to work in or the job role you seek. Next choose an area of business law, such as employment law, contract law, finance law, or environmental law. Name the area of business law you selected, describe what value you think these types of law have from the perspective of running a business, and explain any disadvantages you think these types of law have for businesses.
In a professional presentation to your peers, you must use clear and objective language, which conveys your information in an assertive manner.
As an example, let's assume you have chosen the field of environmental law to work. Your presentation could be constructed as follows:
Personal presentation.Professional Profile.The type of position you want to work.Disadvantages of environmental law for companies.Let's assume that your core career objective is to assist in holding companies accountable for environmental responsibility through environmental law.
Therefore, you must include the reasons that lead companies to be potential causes of environmental imbalance and how environmental law can help and institute more stringent actions for environmental protection.
This is a matter of creativity and should be written by you, but I hope these tips are helpful.
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You have been seconded to North (Pty) Ltd to assist with the preparation of the group financial statements. Their accountant has recently resigned and they are under pressure to have these finalised for the annual audit. North (Pty) Ltd acquired a 100% interest in South (Pty) Ltd on 1 January 2017 for R125 000. On 1 January 2017, the retained earnings of South (Pty) Ltd was R15 000.
The following Trial Balances, for the year-ended 31 December 2020, were prepared by the accountant prior to his departure.
All the plant of South (Pty) Ltd was purchased during the 2017 financial year.
The carrying amount of goodwill is considered to be equal to its recoverable amount.
Bank
Trial Balance at 31 December 2020
Retained earnings (year-end)
Share capital
(71,000) (45,000)
(200,000) (75,000)
Investment in South (Pty) Ltd
125,000 -
Property, plant and equipment
105,000 85,000
Inventory
38,000 25,000
Accounts receivable
27,000 20,000
25,000 15,000
Accounts payable
Sales
(39,000) (20,000)
(64,000) (55,000)
Dividend Income
(5,000) -
Cost of Sales
34,000 35,000
Operating Expenses
12,000 8,000
Taxation
3,000 2,000
Dividends
10,000 5,000
North (Pty) Ltd South (Pty) Ltd
00
Note: Comparatives are not required.
2
QUESTION 1 – REQUIRED
1.1
1.2
1.3
Prepare the consolidated Statement of Comprehensive Income for the year-ended 31 December 2020.
Presentation
Prepare the Statement of Changes in Equity for the year-ended 31 December 2020.
Presentation
Prepare the assets section only of the consolidated statement of financial position of North (Pty) Ltd and it subsidiary for the year- ended 31 December 2020.
Presentation
Sub- total
9 1
7 1
6
1
Marks Total
Answer:
41 9 1 7 1 6 _ 1 58+02-88=898
Presented below are various receivable transactions entered into by Beran Tool Company. Indicate whether the receivables are reported as accounts receivable, notes receivable, or other receivables on the balance sheet.
a. Loaned a company officer $5,000.
b. Accepted a $3,000 promissory note from a customer as payment on account.
c. Determined that a $10,000 income tax refund is due from the IRS.
d. Sold goods to a customer on account for $4,000.
e. Recorded $500 accrued interest on a note receivable due next year.
f. Advanced $1,400 to a trusted employee.
Other Receivables
Notes Receivable
Other Receivables
Account Receivable
Other Receivables
Other ReceivablesAnswer:
Explanation:
Answers are,
a. Loaned a company officer $5,000 - Other Receivables
b. Accepted a $3,000 promissory note from a customer as payment on account. - Notes Receivable
c. Determined that a $10,000 income tax refund is due from the IRS - Other Receivables
d. Sold goods to a customer on account for $4,000 - Accounts Receivable
e. Recorded $500 accrued interest on a note receivable due next year - Other Receivables
f. Advanced $1,400 to a trusted employee - Other Receivables
Accounts receivable are line items or a group of line items that appear as assets on an organization's balance sheet. It's the money a company's clients owe for services they've received by haven't paid for yet . For example, when a customer purchases products or services on credit, the amount they owe gets added to the company's accounts receivable. Whereas,
Notes receivable are underlying promissory note that details the terms of payment for a purchase between a company and a customer. Most often, notes receivable appear when a client needs more time to pay for a sale than the conventional billing terms. Agreeing for a slower payment, the company charges interest and requires a signed promissory note for legal purposes.
And, Other receivables include money owed from non-trade activities. Usually, these include small amounts that companies cannot disclose as separate items.
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Consider the following probability distribution for stocks A and B: State Probability Return on Stock A Return on Stock B 1 0.10 10 % 8 % 2 0.20 13 % 7 % 3 0.20 12 % 6 % 4 0.30 14 % 9 % 5 0.20 15 % 8 % The expected rates of return of stocks A and B are _____ and _____, respectively. Multiple Choice 7.7%; 13.2% 14%; 10% 13.2%; 9% 13.2%; 7.7%
The expected rates of return of stocks A and B are 13.2% and 7.7% respectively.
The expected rate of return refers to the profit or loss that an investor can anticipate on an investment.
The expected rate of return of stocks A will be:
= 0.1(10%) + 0.2(13%) + 0.2(12%) + 0.3(14%) + 0.2(15%)
= 13.2%
The expected rate of return for stocks B will be:
= 0.1(8%) + 0.2(7%) + 0.2(6%) + 0.3(9%) + 0.2(8%)
= 7.7%
In conclusion, the expected rates of return of stocks A and B are 13.2% and 7.7% respectively.
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Gay and Joy developed a neat Bento box for children. The shape of the containers encourages healthy eating, and it is very popular. They have been paying another company to manufacture the boxes for them but are interested in manufacturing the boxes themselves. They’ve developed the following cost estimates:
Sales (100,000 units) $ 1,000,000
Costs: Fixed Variable
Raw Materials $ 0 $ 300,000
Direct Labor 0 200,000
Factory Costs 100,000 150,000
Selling and Administrative
Costs 110,000 50,000
Total Costs $ 210,000 $ 700,000
Operating Income $ 90,000
1. How many units will Gay and Joy need to sell to breakeven?
If Gay and Joy developed a neat Bento box for children. The shape of the containers encourages healthy eating, and it is very popular. How many units will Gay and Joy need to sell to breakeven is: 70,000 units.
First step is to determine the selling price
Selling price = $1,000,000 / 100,000 units
Selling price = $10
Second step is to determine the Variable cost per unit
Variable cost per unit =$700,000 / 100,000 units
Variable cost per unit = $7
Third step is to calculate the Contribution margin per unit using this formula
Contribution margin per unit = Selling price - Variable cost
Let plug in the formula
Contribution margin per unit = $10 - $7
Contribution margin per unit = $3
Fourth step how many units will Gay and Joy need to sell to breakeven
Using this formula
Break even= Fixed cost / Contribution per unit
Break even = $ 210,000 / $3
Break even =70,000 units
Inconclusion if Gay and Joy developed a neat Bento box for children. The shape of the containers encourages healthy eating, and it is very popular. How many units will Gay and Joy need to sell to breakeven is: 70,000 units.
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