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8 days ago

The University Store, Incorporated is the major bookseller for four nearby colleges. An income statement for the first quarter o

f the year is presented below: University Store, Incorporated Income Statement For the Quarter Ended March 31 Sales $ 800,000 Cost of goods sold 560,000 Gross margin 240,000 Selling and administrative expenses: Selling $ 100,000 Administrative 110,000 210,000 Net operating income $ 30,000 On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed.The contribution margin for the University Store for the first quarter is: A) $660,000 B) $700,000 C) $180,000 D) $140,000

Business

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Transferring responsibility of operations to another authority (such as, un observers, multinational peacekeeping forces, or nat

Mariulka [3825]

I think the answer is: Enable phase

During this phase, a company assesses progress and identifies any additional planning needed to ensure smooth operations. Often, it may be considered more appropriate to transfer responsibilities to another organization with a broader jurisdiction.

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1 month ago

Over a six-month period in 2007, the price of corn increased by almost 70% as a result of increased demand for ethanol biofuel.

arsen [3447]

Response:

a. Due to the rise in corn prices, the supply of corn would grow. Simultaneously, the acreage allocated for corn farming would expand.

b. The primary factor behind the change in corn production acreage is:

A. The increased price indicates to suppliers that corn is becoming more valuable.

Clarification:

As corn is essential for producing ethanol biofuel, the demand and supply for corn rise to keep pace with the climbing prices. Suppliers, for their part, respond by increasing production through the use of a larger amount of land dedicated to corn cultivation. This depicts the usual interaction of market forces that influence market equilibrium.

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1 month ago

On December 28, 20Y3, Silverman Enterprises sold $18,500 of merchandise to Beasley Co. with terms 2/10, n/30. The cost of the go

marusya05 [3725]

Response:

Dec. 28, 20Y3

Dr Accounts Receivable - Beasley Co. 18,500

Cr Sales Revenue 18,500

Dec. 28, 20Y3

Dr Cost of Goods Sold 11,200

Cr Inventory 11,200

Jan. 3, 20Y4

Dr Sales Returns and Allowances 4,000

Cr Accounts Receivable - Beasley Co. 4,000

Jan. 3, 20Y4

Dr Inventory 2,350

Cr Cost of Goods Sold 2,350

C. Jan. 7, 20Y4

Dr Cash 14,210

Dr Sales Discount 290

Cr Accounts Receivable - Beasley Co. 14,500

Explanation:

A. Recording the entry for the sale on December 28, 20Y3, using a perpetual inventory system’s net method.

Dec. 28, 20Y3

Dr Accounts Receivable - Beasley Co. 18,500

Cr Sales Revenue 18,500

Dec. 28, 20Y3

Dr Cost of Goods Sold 11,200

Cr Inventory 11,200

B. Journals to record the returns of merchandise

Jan. 3, 20Y4

Dr Sales Returns and Allowances 4,000

Cr Accounts Receivable - Beasley Co. 4,000

Jan. 3, 20Y4

Dr Inventory 2,350

Cr Cost of Goods Sold 2,350

C. Journal entry to document the receipt of amount owed

Jan. 7, 20Y4

Dr Cash 14,210

[(18,500-4,000)-(18,500-4,000)*2% ]

Dr Sales Discount 290

[(18,500-4,000)*2% ]

Cr Accounts Receivable - Beasley Co. 14,500

(18,500-4,000)

8 0

2 months ago

A consumer makes purchases of an existing product X such that the marginal utility is 10 and the price is $5. The consumer also

stepan [3596]

Answer:

To maximize utility, the consumption of product Y should be increased while reducing the intake of product X.

Explanation:

The utility-maximizing principle asserts that a consumer optimizes utility when the marginal utility per dollar spent is equal for both products.

For Product X, the marginal utility per dollar is:

$\frac{MU_X}{P_X}=\frac{10}{5}$

= 2 utils per dollar

For Product Y, the marginal utility per dollar is:

$\frac{MU_Y}{P_Y}=\frac{8}{1}$

= 8 utils per dollar

According to this principle, the consumer should increase the consumption of product Y and decrease that of product X.

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2 months ago

On March 11, 20XX, the existing or current (spot) one-year, two-year, three-year, and four-year zero-coupon Treasury security ra

soldi70 [3635]

Answer:

Explanation:

The one-year forward rate for year 2 is as follows:

(1+4.75%)(1+f)=(1+4.95%)^2

(1+4.75%)(1+f)=1.10145025

(1+F)=1.10145025/1.0475

(1+f)=1.0515

f= 5.15%

The one-year forward rate for year 3 is calculated as:

(1+4.95%)^2 (1+f)=(1+5.25%)^3

(1+4.95%)^2 (1+f)=1.16591345312

(1+f)=1.16591345312 /1.10145025

(1+f)=1.0585

f=5.85%

For the one-year forward rate for year 4:

(1+5.25%)^3 (1+f)=(1+5.65%)^4

(1+f)=1.0685

f= 6.85%

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2 months ago