You own 25 percent of Unique Vacations, Inc. You have decided to retire and want to sell your shares in this closely held, all-e

Answer:

d. the complexity of the product.

Explanation:

Marketing is the strategy of crafting promotional methods and sales tactics by a business to improve the availability of products and services aimed at fulfilling consumer needs, which is achieved through advertising and market analysis. Pre-service strategies encompass recognizing target markets, design, branding, and conducting market research. Therefore, it involves identifying, predicting, selecting mediums, and executing processes for creating, promoting, delivering, and exchanging goods and services that offer value to consumers. Typically, it centers around comprehending customer requirements and building lasting relationships to boost business growth.

Face-to-face selling, also referred to as personal selling, is a sales approach where the salesperson directly engages with potential buyers to persuade them to purchase a product.

For Michael, personal selling is more effective than other promotional methods due to the product's intricate nature, which involves high levels of technicality. His offerings are complex and therefore necessitate detailed guidance or explanations for safe usage.

Answer:

The answer is: Social Responsibility.

Explanation:

Corporate Social Responsibility signifies a Code of Conduct and practices that transcend mere legal requirements, regulations, and trade guidelines. This can encompass measures taken by a company for environmentally sustainable operations, social and ethical training for employees, as well as charitable actions and community involvement.

<span>Over a duration of 39 years, the asset's depreciation occurs at a straight-line rate of 520/39 = 13.333 thousand annually. After 15 years, the cumulative depreciation amounts to 13.333*15 = $200,000. Consequently, the current book value of the structure stands at $520,000 - $200,000 = $320,000. Adding the land's book value of $43,000 results in a total property value of 320 + 43 = $363,000. If sold for $710,000, the capital gain would then be $710,000 - $363,000 = $347,000.</span>

Answer:

a. Nov 11, 2017

Dr Cash $4,900

Cr Sales $4,900

Nov 30, 2017

Dr Warranty Expense $294

Cr Estimated Warranty Liabilities $294

Dec 9, 2017

Dr Estimated Warranty Liabilities $196

Cr Cash $196

Dec 16, 2017

Dr Cash $14,700

Cr Sales $14,700

Dec 29, 2017

Dr Estimated Warranty Liabilities $392

Cr Cash $392

Dec 31, 2017

Dr Warranty Expense $882

Cr Estimated Warranty Liabilities $882

b. Jan 5, 2018

Dr Cash $9,800

Cr Sales $9,800

Jan 17, 2018

Dr Estimated Warranty Liabilities $462

Cr Cash $462

Dec 31, 2018

Dr Warranty Expense $588

Cr Cash $588

Explanation:

a. Preparation of the journal entries to record the transactions and adjustments for 2017

Nov 11, 2017

Dr Cash $4,900

Cr Sales $4,900

(This records the sale of razors for cash)

Nov 30, 2017

Dr Warranty Expense $294

Cr Estimated Warranty Liabilities $294

($4,900*6%)

(This records the warranty expense)

Dec 9, 2017

Dr Estimated Warranty Liabilities $196

Cr Cash $196

(14 razors*14)

(This represents the replacement of 14 razors)

Dec 16, 2017

Dr Cash $14,700

Cr Sales $14,700

(This records the cash sale of razors)

Dec 29, 2017

Dr Estimated Warranty Liabilities $392

Cr Cash $392

(28 razors*14)

(This represents the replacement of 28 razors)

Dec 31, 2017

Dr Warranty Expense $882

Cr Estimated Warranty Liabilities $882

($14,700*6%)

(This records warranty expense)

b. Preparation of journal entries to reflect the transactions and adjustments for 2018

Jan 5, 2018

Dr Cash $9,800

Cr Sales $9,800

(This records razors sold for cash)

Jan 17, 2018

Dr Estimated Warranty Liabilities $462

Cr Cash $462

(33 razors*14)

(This indicates the replacement of 33 razors)

Dec 31, 2018

Dr Warranty Expense $588

Cr Cash

(6%*$9,800) $588

(This indicates the recording of warranty expense)

d. $13.00 Explanation: The contribution margin formula is determined by subtracting variable costs from the selling price. Here, the sales price is $25 per unit while the variable costs consist of: Direct materials: $6.20, Direct labor: $2.80, variable overhead: $1.45, sales commissions: $1.00, and administrative variable expense: $0.55 totaling a variable cost of $12.00 per unit. Thus, $25 selling price per unit minus $12 variable cost per unit equals $13 contribution margin per unit, the amount each unit contributes to cover fixed costs and generate profit during the period.