If a hurricane was headed your way, would you evacuate? the headline of a press release states, "thirty-five percent of people o

Answer:

Explanation:

It depends on the situation.

If such a return is unprecedented, I would handle it myself based on the item. For example, if the item, like a screwdriver set, appears unused, I would approve the return autonomously.

However, if the item is personal or intimate, I would hesitate and seek managerial guidance, avoiding making the decision alone.

If there is a clear policy, I would consult it, likely involving a supervisor for confirmation, which is probably the most appropriate approach.

If many returns occurred that day, I would feel reluctant and ask for assistance.

Answer:

See the instructions below.

Explanation:

Here is the provided information:

Q= 1,000 units sold

Sales amounting to $ 345,000

Starting merchandise inventory at $ 23,000

Total purchases of $ 230,000

Ending merchandise inventory valued at $ 11,500

Fixed selling expense is $?

Fixed administrative expense totals $ 13,800

Variable selling expense is $ 17,250

Variable administrative expense is $?

Contribution margin stands at $ 69,000

Net operating income equals $ 20,700

Cost of goods sold (COGS) is calculated as: beginning inventory + purchases - ending inventory = 23000 + 230000 - 11500 = $241,500

1) Total revenue is 345000

COGS amounts to 241500

Variable selling expense equals 17250

Variable administrative expense=? =17250 (345000 - 241500 - 17250 - 69000)

The contribution margin is 69000

Fixed selling expense=? = 34500 (69000 - 13800 - 20700)

Fixed administrative expense is 13,800

Net income is 20,700

2) Sales total 345,000

COGS reaches 241500

Gross profit comes to 103500

Administrative expense totals 31050

Selling expense is 51750

Net income arrives at 20700

3) Selling price per unit calculation: total sales/Q= 345000/1000= $345

4) Variable cost per unit calculation: total variable cost/Q= (241500+17250+17250)= $276000/1000= $276

5) Contribution margin per unit calculation: 69000/1000= 69

6) The contribution format income statement is advantageous as it clearly illustrates how each unit influences the contribution margin.