The net income earned is $240
A company's net earnings are referred to as net income. It is calculated by taking the sum of the receipts less the sum of the costs. Taxes, business expenses, interest payments, fees, and depreciation are only a few examples of the several items that go under the umbrella phrase "total expenditure. Net income is used to calculate the earnings per share for shareholders.
1.
Dr. Account Receivable $5,760
Dr. Service charges $240
Cr. Service revenue $6,000
2.
Dr. Cash $5,760
Cr. Accounts receivable $5,760
Working Notes
Assuming all the sales are performed on the account first Then cash is received after the issuance of the invoice.
Service revenue $6,000
Less: Credit card expenses $ (240)
Net income $5,760
Service charges = $6,000 x 4% = $240
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the cost allocation base . question content area bottom part 1 a. are costs related to a particular cost object that cannot be traced to that cost object in an economically feasible way b. is a grouping of individual indirect cost items c. is anything for which a measurement of costs is desired d. is a systematic way to link an indirect cost or group of indirect costs to cost objects
The correct answer is d. The cost allocation base is a systematic way to link an indirect cost or group of indirect costs to cost objects.
Cost allocation is the process of relieving the cost centers of shared service organizations that offer a good or service. Internal customers' cost centers that use the goods and services are then given credit for the related charge. A mechanism to keep track of which companies offer a product or service, which companies use it, and a list of portfolio offers make up the fundamental elements of a cost allocation system. The data on cost allocation may be used to create an internal invoice or to feed an ERP system's chargeback module, depending on the organizational structure inside the business.
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Cameron brought a set of 7 classic paperbacks to a secondhand store to sell. he was paid cash for the entire set. before he left, cameron used $4 of his earnings to purchase a used book light. he had $6.50 remaining. what was the value of each paperback in the set?
Answer: The equation used to solve this problem is 7x - 4 = 6.50 and the value of each paperback in the set is $1.5
What is an equation?
An equation is an expression that shows the relationship between two or more numbers and variables.
Let x represent the value of each paperback in the set. Hence:
7x - 4 = 6.50
x = $1.5
The equation used to solve this problem is 7x - 4 = 6.50 and the value of each paperback in the set is $1.5
Which of the following is an example of an equity investment?
A.
A loan
B.
A company bond
C.
A government bond
D.
A company's stock
An example of an equity investment is D. A company's stock.
What is equity investment?Equity investments come through the purchase of shares in a company's stock. The stock may be preferred stock or common stock, and they confer ownership interests on the equity holders.
A corporate loan or bond does not confer equity ownership on the investor. Such an investor remains a creditor (short-term or long-term).
Similarly, a government bond is not an equity investment in the government because all citizens are stakeholders. An investor who purchases government bonds is a creditor to the issuing government.
Creditors do not receive dividends, unlike equity investors. They receive fixed interests, which must be paid, whether profits are generated or not.
Thus, among the list, the only example of equity investment is Option D.
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We use _______ to talk about the price and quantity of a single good or service produced in a specific market. We use _______ to describe the overall, or total, demand for all final goods and services produced in an economy.
Demand is used to talk about the price and quantity of a single good or service produced in a specific market and GDP (Gross domestic product ) is used to describe the overall, or total, demand for all final goods and services produced in an economy.
Demand is the number of consumers who are willing and able to buy products at various prices during a given period. Demand for any commodity implies the consumers' desire to acquire the good, the willingness and ability to pay for it, and Gross domestic product (GDP) is the monetary value of all the goods and services that any country produces within a certain period minus, the goods and services are also used up in production.
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danielle wants to expand her business and use the 10 acre property she owns and rents to a local sheep rancher for $10,000/year, to build a mall for $4 million. danielle’s total economic costs of the expansion plan are group of answer choices the foregone $10,000/year from the sheep rancher. the $4 million cost of the mall construction and its fixed costs. the $10,000 in foregone rent and the $4 million cost of the mall. all costs as reported by danielle’s accountant.
Danielle's total economic costs are the $10,000 in foregone rent and the $4 million cost of the mall.
What is the total economic cost?
Economic costs is the sum of the explicit cost and the implicit cost.
Explicit cost is the actual cost incurred in carrying out an activity. An example of an explicit cost is the cost of building the mall. Implicit cost is the cost of the next best option that is forgone when one option is chosen over other options. Explicit cost is also known as opportunity cost.
In accounting, only explicit cost is considered when calculating costs. Thus, Danielle's accountant would only report explicit cost which is the cost of building the mall. While in economics, both explicit cost and implicit cost are considered.
Economic cost = explicit cost + implicit cost
4 million + $10,000
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A public relations department responds to negative events by
A. using spin to control damage. CORRECT ANSWER
B. lying to the general public.
C. creating competitive ticket packages.
D. developing special events to the public.
An organization's negative events can be responded to by the public relations department using spin to control damage. Option A is correct.
What is the role of the public relations department?The main function is to develop strategies and actions that help an organization to communicate with its stakeholders in a positive way, favoring the creation of relationships that can be converted into business.
Public relations professionals are able to favorably influence the opinions and perceptions of customers, suppliers and investors.
Therefore, the public relations department is also responsible for dealing with adverse situations, looking for ways to control and circumvent the situation so that the company maintains a positive and valuable image with its target audience.
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consumerism is a. the efforts of independent individuals, groups, and organizations to protect the rights of consumers. b. the right to be informed. c. president john f. kennedy's consumer bill of rights. d. marketers' efforts to contribute to the satisfaction and growth of the communities in which they operate. e. the specific development, pricing, promotion, and distribution of products that do not harm the environment.
Consumerism is a. the efforts of independent individuals, groups, and organizations to protect the rights of consumers.
In the field of economics, consumerism can be described as such actions by which the buyers of products and goods are benefitted. Consumerism is the actions that consumers take in order to protect and demand for their rights.
Consumerism is the efforts that can be made by a single person, a group, or people or organizations for making consumer-orientated services and products. Thu consumers promote and ask for their rights through the process of consumerism.
The consumers have a viewpoint that due to their buying of products, the businesses are able to expand hence their rights should be met and protected.
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on november 1, jasper company loaned another company $250,000 at a 12% interest rate. the note receivable plus interest will not be collected until march 1 of the following year. the company's annual accounting period ends on december 31. the amount of interest revenue that should be reported in the first year is:
The amount of interest revenue that should be reported in the first year is $5000 if the Jasper company loaned the other company on November 1 at a 12% interest rate.
To determine the amount of interest revenue that should be reported in the first year, we first calculate the interest amount per year as follows;
Interest amount per year = 250,000 × 12% = 250,000 × 0.12 = $30,000
Now we calculate the interest amount per month as follows;
Interest amount per month = Interest amount per year / 12
Interest amount per month = 30,000 / 12
Interest amount per month = $2500
As the loan started on November 1, in the first year from November 1 to December 31, Jasper company has loaned another company for 2 months.
Therefore;
Interest amount per month × 2 = $5000
Hence, $5000 of interest revenue should be reported in the first year.
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Rental cost for offices spaces have been going up at 6. 2% per year compounded annually for the past 5 years. If office space rent is now at a rate of $32 per square foot per month, what were the rental rates 5 years ago?.
The rental rates were $23.70 per square foot per month five years ago if the rental costs have been going up at 6.2% per year compounded annually.
The rental rates 5 years ago can be determined using the formula for compound interest as follows;
A = P (1 + r/n)^nt
Here A represents the final amount, P represents the initial balance, r represents the interest rate, n represents the number of times the interest was applied per time period, and t in this formula represents the number of time periods elapsed.
32 = P (1 + 0.062)^5
P = 32 / (1.062)^5
P = 23.70
Hence the rental rate was calculated to be $23.70 five years ago if the space rent is now at a rate of 32$ per square foot per month.
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collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in a. environmental scanning. b. environmental monitoring. c. competitive analysis. d. environmental analysis. e. competitive forces.
Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in a. environmental scanning.
What is environmental scanning?Environmental scanning can be defined as the process of acquiring relevant data or information that enables an organization to function properly.
Most companies or organization tend to make use of environmental scanning as this will enables them to know the factors that can have both positive and negative impact on their business.
Therefore Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in a. environmental scanning.
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Rental cost for offices spaces have been going up at 6. 2% per year compounded annually for the past 5 years. If office space rent is now at a rate of $32 per square foot per month, what were the rental rates 5 years ago?.
If Rental cost for offices spaces have been going up at 6. 2% per year compounded annually for the past 5 years. If office space rent is now at a rate of $32 per square foot per month, The rental rates 5 years ago is $23.69.
Rental rateUsing this formula
A =P( 1 + r/m) ^mt
Where:
A = Amount = $32
P = Principal = ?
n=5 years
rate r= 6.2 %=0.062
Let plug in the formula
32=p(1+0.062)^5
32=p(1.062)^5
P= 32/ (1.062)^5
P = 23.687
P = $23.69 per square foot (Approximately)
Therefore we can conclude that the rental rate is the amount of $23.69 per square foot .
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ideally, one should integrate incident management systems with the information or systems used to manage service level agreements, such as target response and resolution times
It is true that ideally, one should integrate incident management systems with the information or systems used to manage service level agreements, such as target response and resolution times.
Incident management systems is designed to manage incidents and how to respond in case of emergency. Whenever an incident management system is designed for any organization, it is necessary that it is integrated with other systems.
This is due to the fact that incident management requires quick response and resolution. If the incident management system is not integrated with other system, it won't be possible to report and response to the incident on time.
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Complete question is
Is it true about incident management system? Ideally, one should integrate incident management systems with the information or systems used to manage service level agreements, such as target response and resolution times
the north american industry classification system (naics) designates industries with a numerical code in a defined structure. a six-digit coding system is used. the first two digits designate
The north American industry classification system designates industries with a numerical code in a defined structure. a six-digit coding system is used. the first two digits designate an industry subsector
The industry refers to a more specific group of companies or businesses, while the term sector describes a large part of the economy. The terms industry and sector are often used interchangeably to describe groups of companies operating in the same segment of the economy or doing similar types of business.
In the three-sector model of economics, he divides the economy into three sectors of activity. A service industry that exists to facilitate the transportation, distribution, and sale of goods consumed by the extractives (primary), manufacturing (secondary), and secondary sectors. produced (tertiary).
An industry is a group of companies related to a primary activity, such as manufacturing automobiles or selling food. Smaller industries (such as automotive) can be grouped into larger industry sectors (such as manufacturing in general).
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The preparation of isopentyl acetate by the method used in this experiment is an equilibrium reaction. Equilibrium must be shifted to the right-hand side because the reaction does not favor formation of the product. What method is used to accomplish this?.
Fischer Esterification is used to accomplish the preparation of isopentyl acetate which is an equilibrium reaction.
What is Fischer Esterification?Unlike other esterification pathways, the Fischer esterification involves an equilibrium process. It is common practice to employ an excess of one of the reactants, either the acid or the alcohol, to change the equilibrium in a way that favors the synthesis of esters. Because acetic acid is less expensive and easier to remove than alcohol, we shall utilize an excessive amount of it in the current reaction. Removing one of the products as it forms is another approach to cause a reaction to its products. By adding silica beads directly to the reaction vessel and utilizing a drying tube with a drying agent (calcium chhioride), which prohibits the admission of moisture into the reaction, we will eliminate the water created in the reaction in this experiment.Learn more about Fischer Esterification here:
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question content area buster industries pays weekly salaries of $48,300 on friday for a five-day workweek ending on that day. the adjusting entry necessary at the end of the fiscal period ending on tuesday is
The Workweek Basis of the Act. The workweek of an employee is a defined and repeating period of 168 hours, or seven separate 24-hour periods.
The Fair Labor Standards Act contains the federal overtime provisions (FLSA). Employees covered by the Act shall receive overtime pay at a rate of at least time and a half their usual rates of pay for hours worked beyond 40 in a workweek, unless they are exempt. The Act does not include a cap on the number of hours that individuals 16 and older can work in a given workweek. Unless overtime is worked on such days, the FLSA does not mandate overtime pay for work done on Saturdays, Sundays, holidays, or ordinary rest days.
It can start on any day and at any time of the day; it does not have to begin on the first day of the week. For various employees or employee groups, alternative workweeks may be set. It's not allowed to average hours over two or more weeks. Normally, the regular pay day for the pay period in which the wages were earned is when overtime money received during a specific workweek is paid.
debit Salary Expense, $12,000; credit Salaries Payable, $12,000
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Wallace received a 28 percent discount on an item priced at $275. what is the total price that he paid for it? cost after discount = price × (1 â€"" discount percentage) a. $77 b. $198 c. $206
Wallace received a 28 percent discount on an item which is priced at $275. The total price that he paid for it is $198 for item.
Given,
Wallace received a 28 percent discount on an item which is priced at $275.
Cost after the discount = price × (1 – discount percentage)
Price = $275
Discount percentage = 28%
As the percentage is written in the decimal form.
= 28 / 100
= 0.28
Here, we will subsititute the given values.
Cost after the discount = $275 × (1 – 0.28)
= $275 × 0.72
= $198
Hence, Wallace paid $198 for the item purchased.
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santana corporation manufactures snowmobiles in its blue mountain, wisconsin, plant. the following costs are budgeted for the first quarter’s operations.
The classification of the budgeted costs into their activity cost pools is as follows:
EngineeringEngineering design $140,000
Engineering prototypes $60,000
MachineryInsurance, plant $110,000
Depreciation, machinery $520,000
Oil, heating $19,000
Depreciation, plant $210,000
Machine setupMachine setup, indirect materials $$4,000
Machine setup, indirect labor $20,000
Quality controlInspections $16,000
Tests $4,000
Factory utilitiesElectricity, plant lighting $21,000
Property taxes $29,000
Electricity, machinery $36,000
MaintenanceMachine maintenance wages $19,000
What are activity cost pools?Activity cost pools are the major classifications of production activity costs into their cost drivers to make it easier to estimate costs according to the activity that consumed them.
The use of activity cost pools enables activity-based costing to be implemented.
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Question Completion:Machine setup, indirect materials $$4,000
Inspections $16,000
Tests $4,000
Insurance, plant $110,000
Engineering design $140,000
Depreciation, machinery $520,000
Machine setup, indirect labor $20,000
Property taxes $29,000
Oil, heating $19,000
Electricity, plant lighting $21,000
Engineering prototypes $60,000
Depreciation, plant $210,000
Electricity, machinery $36,000
Machine maintenance wages $19,000
Classify the above costs of Santana Corporation into activity cost pools using the following: engineering, machinery, machine setup, quality control, factory utilities, and maintenance.
closing journal entries are recorded . multiple choice question. after the post-closing trial balance is prepared before the unadjusted trial balance is prepared after the financial statements have been prepared before the adjusted trial balance is prepared
The purpose of closing entries is to close all temporary accounts and adjust the balances of real accounts such as owner’s capital. Like all of your trial balances, the post-closing balance of debits and credits must match.
In economics, capital items or capital are "the ones long-lasting produced items which might be in flip used as effective inputs for in addition production" of products and offerings. On the macroeconomic stage, "the kingdom's capital inventory includes homes, system, software program, and inventories during a given yr." a typical example is a machinery used in factories. Capital can be multiplied by using the elements of manufacturing, which excludes positive long-lasting goods like houses and personal cars that aren't used within the production of saleable items and offerings.
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Is the sentence “It doesn’t matter if people come to work on time.” true or false?
Answer:false
Explanation:
a casino game costs $5 to play. if you draw first a red card, then you get to draw a second card. if the second card is the ace of hearts, you win $500. if not, you don't win anything, i.e. lose your $5. what is your expected profits (or losses) from playing this game? remember: profit (or loss)
The expected loss from playing the casino game is $-0.28
What is the expected loss?The first step is to determine the probability of picking a red card and then a ace of hearts.
Probability of picking a red card and ace of hearts = probability of picking a red card x probability of picking an ace of heart
Probability of picking a red card = number of red cards / total number of cards in a deck of cards = 25 / 52
Probability of picking an ace of heart = number of ace of hearts / total number of cards in a deck of cards = 1/52
Probability of picking a red card and ace of hearts = 26/52 x 1/51 = 0.00943
Profit = $500 - $5 = $495
Probability of winning = 0.00943 x $495 = $4.67
Loss = 0 - $5 = $-5
Probability of losing = (1 - 0.00962) x -5 = -4.95
Expected value = $4.67 - $4.95 = -0.28
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If a bank has $100,000 of checkable deposits, a required reserve ratio of 20 percent, and it holds $40,000 in reserves, then the maximum deposit outflow it can sustain without altering its balance sheet is.
The greatest deposit outflow that a bank may withstand without changing its balance sheet is $25,000 if it has $100,000 in checkable deposits, a required reserve ratio of 20%, and $40,000 in reserves.
Money kept in a bank is referred to in the financial lexicon as a deposit. A deposit is a transaction in which money is transferred to a different party for safekeeping. Yet another definition of a deposit is a sum of money used as security or collateral for the delivery of a good. Your money is protected when you put it in a bank. The bank guarantees to reimburse you for this money as soon as you request it. An organization's assets, liabilities, and owner equity are listed on a balance sheet as of any given date. A balance sheet is usually created at the conclusion of predetermined periods (e.g., every quarter; annually). Two columns make up a balance sheet. The company's assets are listed in the left-hand column.
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The decentralized public ledgering system called ________ is used to record and manage transactions in traditional sectors like shipping, real estate, voting, and stock trading.
The decentralized public ledger system called Blockchain is used to record and manage transactions in traditional sectors like shipping, real estate, voting, and stock trading.
What is the decentralized system?Decentralization is the process of transferring authority and responsibility from a centralized organization to a decentralized system. Greater and more equitable service can be offered by delegating the administration of resources available in an application.
A distributed ledger called a blockchain allows payments to be confirmed without the need for a national automated clearing house. This type of data storage makes automatic updates, attacks, and deception extremely difficult.
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if we were to change the interpretation of the term "loanable funds" in such a way that government budget deficits would affect the demand for loanable funds, rather than the supply of loanable funds, then
Then we would be making only a semantic change in how we analyze the effects of government budget deficits.
A government budget is a document prepared by a government and/or other political body that outlines the expected tax revenues and proposed spending/expenditures for the next financial year. In most parliamentary systems, budgets are submitted to parliament and often require parliamentary approval.
The amount of taxpayer's disposable income depends on the tax rate indicated in the budget. Government spending in various areas such as defense, administration, infrastructure, education, and health affects the lives of citizens and the economy as a whole.
There are three types of estimated annual government budgets: surplus budget, balanced budget and deficit budget.
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an introduction or overview of event management systems and the potential security and privacy concerns which could arise when implementing this technology.
The collection and analysis of security events, as well as a wide range of other event and contextual data sources, are supported by security information and event management (SIEM) technologies.
The required details for security information and event management (SIEM) in given paragraph
A subfield of computer security called security information and event management (SIEM) combines security information management (SIM) with security event management through software products and services (SEM). They offer in-the-moment analysis of security alarms produced by software and network hardware.
In addition to being used to log security data and produce reports for compliance needs, vendors sell SIEM as software, hardware, or managed services. In 2005, Mark Nicolett and Amrit Williams of Gartner came up with the name and initials SIEM.
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tom started a business selling footballs. before filing articles of incorporation, he arranged for a bank loan and hired three people to run his store. tom is known in corporate law as a/an multiple choice preincorporater. private holder. installer. promoter.
Tom is referred to as a promoter in corporate law.
A promoter is the founding member or organizer of a corporation or business venture in corporate law; the individual who takes the initiative to start or organize a business. The phrase is most commonly heard in the context of incorporation. A promoter would carry out the actions required to incorporate the business venture. A promoter in business law is either a contractual organizer or a shareholder within the organization. The term "promoter" is not defined in the law.
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WILL GIVE BRAINLIEST PLEASE ANSWER ASAP 100 POINTS!!!!!!
There are two Images for the questions, some of the work is already done
Answer:
Consumption expenditure on durable goods
Explanation:
Consumption expenditure includes expenditure on goods which are used for final consumption by households. This can be further classified into,
i) Expenditure on durable goods that is goods that can be used over a longer life span such as cars, furniture, refrigerator, etc
ii) Expenditure on non-durable goods that are goods that have a short-life span and thus must be stored for a longer time such as food, clothing, etc
iii) Expenditure on services such as banking, insurance, traveling, etc
Thus, purchase of a new car is included in consumption expenditure on durable goods.
Sven, a research analyst for ikea, wants to segment the home furnishings market in europe based on differences in core benefits customers seek, usage situations, brand loyalty, usage rates, and price sensitivity. Which segmentation approach would sven use?.
The segmentation approach used by Sven is needs-based segmentation strategy.
The best marketing of some product or services begins with a focus on segmentation. Different groups of customers have different needs and therefore the company or sales need to be targeted with a specific marketing plan. So that, segmentation is a vital component of any successful marketing strategy.
Segmentation can be approached in three main ways, there are firmographic, behavioral, and needs-based segmentation strategy.
Firmographic segmentation can be defined as a grouping customers by aspects such as age, gender, company size, industry vertical, income and location.
Behavioral segmentation can be defined as a strategy that takes things up a notch, identifying how customers act and grouping them this way.
Thirdly, a needs-based approach can be defined as the best and most effective way of segmenting customers that identify specific customer needs, allowing products and services, and also marketing communications.
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the payments on an amortized loan contain both interest and principal. in the event that an amortized loan is to be repaid using more-frequent-than-annual payments, the calculation of the payment (pmt) for an amortized loan requires the adjustment of both the interest rate and the number of time periods in the annuity formula.
The payments on an amortized loan do contain both interest and principal.
An amortized loan has payments that include both interest and principal. The computation of the payment for an amortized loan needs the adjustment of both the interest rate and the number of time periods in the annuity formula if a loan is to be repaid using more frequent than annual instalments.
Amortization is the process of paying off debt throughout the course of the loan in equal payments that include changing amounts of interest and principal. A predetermined table called an amortization schedule outlines how much of your monthly payment will be allocated to interest and principal over the course of the loan's whole duration.
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in the context of the supply chain for a product, vendor-managed inventory is a strategy that allows suppliers to determine buyer needs and automatically ship product.
Vendor-managed inventory is a strategy that allows suppliers to determine buyer needs and automatically ship product, so the statement above is true.
Vendor-managed inventory can be defined as an inventory management practice in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor. The function of Vendor Managed Inventory is to provide a mutually beneficial relationship where both sides will be able to more smoothly and flow of goods and accurately control the availability.
Vendor managed inventory can be divided into two classes, such as:
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chitter-chatter sells phones and has set a target profit of $975,000. the contribution margin ratio is 65%, and fixed costs are $195,000. sales dollars needed to earn the target profit total blank .
The sales dollars needed to earn the target profit total is $1,800,000.
This is further explained below.
What is profit?Generally, Profit is the financial advantage achieved when revenue produced from a commercial activity is greater than the expenditures, costs, and taxes involved in maintaining the activity in question.
Profit may be defined as the difference between revenue and expenses, costs and taxes.
Accounting profit, also known as bookkeeping profit or financial profit, is the net income produced after deducting all dollar expenses from total revenue. Other names for accounting profit are financial profit and bookkeeping profit.
In conclusion,
[tex]=\frac{(975,000 + 195,000)}{0 .65}[/tex]
= 1,800,000
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